Using crypto exchanges is still absolutely fine.
As a retail UK customer you wont be able to buy ETP or CFDs unless FCA goes back on the decision.
Thanks for reply.
Any recommended platforms?
Coinbase, Binance, Kraken are some of the more popular ones. I use Kraken, but would also consider Binance, both of these have good fees. Coinbase is the biggest, but the fees are too high for me.
I’m using Binance myself, Kraken is also a good platform.
Alternatively, crypto mining companies who derive their revenues and cash flows from securing the Bitcoin network:
I wonder, what are incentive to invest in crypto with such huge fees? To invest in something without intrinsic value? I just want to hear genuine thoughts/thinking behind logic.
Here we go again! Take a read here. I’m with you, it doesn’t have intrinsic value.
Well I am more interested in fee, from what I noticed, I need 5% value appreciation to be net even. This is just crazy plus taxation…
I bought some Bitcoin a few months ago on Coinbase and the fees blew me away. 20 euro fee on 500 euro purchase.
Then last month on Bitstamp I paid 10.65 euro on a 213 euro purchase.
Very pricey indeed! 4% and 5% value appreciation needed respectively.
0.1% on Binance (and less than that holding BNB)
What is a BNB? …
Binance developed their own crypto called BNB. Probably to generate revenue for their business.
So U.K. resident can register with Binance with no restrictions. It will allow us to fund via U.K. bank account? What are the rules on taxation here.
I’ll have to pass that one over as I’m not from the UK.
I’m from the UK, I fund with Halifax via instant transfer. You are given a reference to use on the transfer inside the app. The key thing is the names on your bank need to match what you have declared inside the app.
After continue it gives you the account and sort and reference to use.
It does warn not to use Monzo or Revolut to fund with. Monzo don’t like crypto so would be wary of funding anything tbh.
@obrienciaran I thought you said you’ve been in the crypto space for a while?! Yet it turns out you’re a noob who’s been in for a few months making noob mistakes.
@Vedran Use Coinbase PRO and you pay 0.5% fee, not the regular app that charges an arm & a leg to newbies who can’t even take the extra 2 steps to use their Pro app.
Cheers mate. That’s helpful. I’ll look into that.
Does it do referral bonus. Just btw. You can share a link here if you wish to.
It does a referral scheme, this is for 5% comission from trading fees.
Been buying for just over 3 years. I used work for a start up who were doing research in blockchain which kicked off my interest in Bitcoin. I’m still a big fan of blockchain but less and less Bitcoin as time goes on.