The United Kingdom are making investing in crypto increasingly difficult for the everyday public.

  1. Any problems for uk investors, simple, setup a revolut account, transfer money to digital card and use that, no issues for me so far 👌

  2. Revolut are known for freezing and banning accounts and requesting a lot of information and taking time to release your money.

  3. Beware Revolut has been banning accounts that have made money on their stock or crypto offerings. I wouldn’t trust them. It works until it doesn’t

  4. Definitely the way to do it. I always deposited to Coinbase Pro using Revolut. Quick, painless and without any fee charges.

  5. UK retail banking is very heavily regulated - UK banks either adhere to those regulations or face the consequences. Don't blame the banks for what you can and cannot spend your hard-earned on; if there was a profit in it for them and they were allowed, they'd let you buy slaves.

  6. My boy Howard at Halifax is still cooperating so I'm good for now, there are a few that have straight up disabled it though. Had a few friends move bank because of it

  7. The only exchange OP mentions is Binance. This isn't a problem with the UK or UK banks, it's a problem with one exchange which was banned by

  8. Nationwide (and possibly other banks) block payments when you use your overdraft. You basically cannot use borrowed money to buy crypto,. You don’t have to agree with this, but it is understandable

  9. This is a great point. There is also a simple reason. Both have a uk bank account number to deposit into. I think this is the main difference. At most, you may have to phone your bank to tell them it is a true transaction.

  10. Yep Coinbase, Kraken, and Gemini( via bank account). I think you have to use PayPal to cash out on Coinbase.

  11. Bit of an odd write up but I get it. One thing you haven't mentioned is that in the UK gambling wins are tax free. Seems they're ok with gambling but tell everyone to "be prepared to lose everything with crypto investments", but if you do make profits we want to tax you.

  12. There were some banks that were blocking customers from sending fiat to crypto exchanges. I remember commenting on someone's post about it done time ago.

  13. For real, they let me repeatedly deposit 4 figures to gambling sites but block 3 figures to crypto sites.

  14. UK banks don't follow the same rules as the rest of us plebs. The City of London Corporation (the financial district) has its own police force, own courts, own system of laws that are different than the rest of the UK. It holds trillions in trusts, the exact amount unknown because they are subject to no taxation, auditing or oversight from the UK government. It's a state within a city, like the Vatican. It's how the UK can point to all the hoops us plebs have to jump through to get a mortgage and say "see how much we are doing to prevent financial crime" while it continues to be one of the largest money launderers in the world.

  15. Anyone in the UK struggling. From my experience NatWest is problematic across all exchanges, Santander however works well for me across the board.

  16. Recently I tried to transfer some funds from HSBC to CoinJar, which is one of the few crypto exchanges that’s actually FCA authorised.

  17. HSBC blocked payments to CDC last week, had to call to have them lifted. Managed to make payment to Binance in that time span and that wasn't blocked. Kind of pick and choose when and who to block.

  18. I'm from the UK, and honestly. When I started investing in Crypto via Coinbase, my bank cancelled my card. Twice. I'm an avid investor into a variety of other things and this had never happened to me.

  19. When a option to the government controlled monetary system was being developed, did they think it would be allowed to happen without a fight to the death?

  20. Switched from Santander to Nationwide because of this (and for the £100 switch offer which went straight into coinbase thank you very much 💸)

  21. He doesn’t mention crown dependencies? Which also aren’t in the uk if that’s what you were thinking?

  22. Wrong. Banks stop payments only because crypto compliance on the money is very hard at the moment hence it’s an admin nightmare. This is a borderline a schizo post.

  23. I’m sorry but the UK is making all the wrong decisions lately. Lost faith in that things will get better.

  24. Not just that. All exchanges work if they are compliant with regulation. I know Kraken, Coinbase, crypto.com works with Barclay's. Binance, as far as I know, the only one which doesn't but it is down to them not being compliant.

  25. Hi thanks for commenting. Not all UK banks are preventing payment. So for example TSB is stopping payments but Santander still allows it... Interestingly Santander is one of the banks from around the world working in partnership with XRP, so perhaps some banks will be more 'crypto-friendly'.

  26. So you have no issues depositing to multiple platforms, but which U.K. bank(s) are you sending the funds from? As that’s where the block triggers

  27. As a UK crypto investor I’ve had no problems investing in crypto currencies. Sounds like OP is referring to that one bank and extrapolating it onto the whole UK financial sector. The UK isn’t the most crypto friendly country but this is just scaremongering

  28. Yeah because all fiat is coming out the system and in to crypto. They will do anything and everything to maintain we use fiat.

  29. If theres one good thing that can come of stories like this, its how it reveals how governments work against the prosperity of the people. Time for change!

  30. Best thing to do if your bank says you can’t make a transaction is tell them that their bank actually has no money. They provide loans using the general publics money. We’ve bailed them out more than once due to their sheer ineptitude. Remind them they work for you not the other way around. If they still refuse then there are still a few banks who allow deposits to binance etc. Halifax is still good in the UK!

  31. Sure tell Steve at customer service that. It'll really make all the difference. Taking your custom elsewhere might though.

  32. Yeah I'm british and this sucks its taken months of educating my parent to get them to even allow the notion that I might put in money when I turn 18 but I will do that.

  33. UK government has been sketchy as f*** for years: the Brexit "that will be good more mony into hospital social services", of course didn't happen. The migrant crisis"let's do nothing continental Europe can deal with that for us", the coronavirus crisis "no measure at first, then lockdown" but too late, UK initiated the pandemics dynamics of new variants. UK fishersmen who end up with less to fish because they "forgot" to negociate with France, the garden parties while the citizens where forbidden to do them. Meanwhile they are the center of money laundering, Russian spies can assassinate people, they collaborate to give to the US a political opponent (Assange), etc. Who is surprised?

  34. That's not really the UK though is it. There's not a policy of deterrence from the government. There are of course cultural and institutional hesitance towards it, which is natural and will reduce over time.

  35. I had a few thousand pounds in a savings account for years. Made pennies on it in interest and it was losing value due to inflation. Invested it in a certain BUSD reflections coin and made £2000+ in 3 months . Banks days are numbered and they are running scared. I am forced to use Revolut also. Screw you TSB, telling me how I can spend my own money

  36. While I genuinely don't disagree that we will see harsh regulations in the UK I always wondered who this so called elites are? Because their identity would ultimately determine their reasons therefore giving us a sort of indication of their intention. But people just using elits as it would explain everything. No, it doesn't. Give me names damn it so I can research where their interest lies.

  37. Hi thanks for your comment. I didn't want to wander down too many rabbit holes in my original post but as a starting point have a look at The City of London... Which I should point out is different from London itself. Following research of City of London, you will likely get led down the road of Paradise Papers at some point. This too, may help answer some questions.

  38. I've only had issues making deposits into Binance. I can deposit GBP directly with bank transfers from Barclays to FTX, CDD and Coinbase automatically. So no issues whatsoever whit those exchanges. I've also have a Revolut account where I can deposit GBP, exchange it to EUR, and I can do SEPA EUR transfer from Revolut to FTX and DCD. Last week I opened an account with Starling bank as well in case I need to withdraw FIAT from exchanges I will do it into Revolut or Starling. Looking into other Euro options online banking. So once the money is in Revolut to move it out to some EURO online banking platform like N26. I've also have 2 paypal regular accounts and a business account. One thing for sure. I'm not going to have my crypto earnings on my regular shit bank.

  39. My bank kicked up a fuss for a while (about the first two months)- so I had to phone up and manually clear the payments to Coinbase/Kracken

  40. This is exactly why we need decentralized finance. People need to be able to use their money for whatever they want. No organisation whether it's government or anyone else deserves to control how people spend their money.

  41. I guess this is because they want the rich and elite to buy at the relatively low prices we have today, before encouraging the rest of the population to buy in a few years.

  42. I'm in the UK and there are plenty of places to buy crypto. If your thinking of investing into crypto then plenty of places to do this.

  43. A lot of people are quietly losing huge amounts of money from their crypto investments. And most of the big winners are big businesses, not individuals. I can understand the measures banks are implementing even if I don't agree with them.

  44. It's almost comical that you posted a link from an organisation whose Chief Financial Officer started out in Deloitte. If I have to explain the relationship between them and UK government then you probably don't.kmow enough about this subject. To be fair, it isn't that widely reported so I suggest you look into it for yourself.

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