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Frustrated trying to JUST buy crypto safely in the UK..

Anything related to bitcoin, crypto, blockchain

Zimbizee

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I'm having a very frustrating time trying to JUST buy some crypto safely here in the UK

Many places i have found on the web have terrible reviews with regards to deposits going missing, taking ages or hidden and high fees. Also the verification process is a a real pain in the backside.
I mean i just want to buy some crypto, how hard can it be???

Can anyone recommend a site where i can signup, deposit money from a bank account, buy some crypto and then send it to my offsite wallet easily here in the UK..It would be very much appreciated.

Thanks
 
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JamesQB8

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I'm having a very frustrating time trying to JUST buy some crypto safely here in the UK

Many places i have found on the web have terrible reviews with regards to deposits going missing, taking ages or hidden and high fees. Also the verification process is a a real pain in the backside.
I mean i just want to buy some crypto, how hard can it be???

Can anyone recommend a site where i can signup, deposit money from a bank account, buy some crypto and then send it to my offsite wallet easily here in the UK..It would be very much appreciated.

Thanks



Kraken and or binance are good bets for fast sign ups and low fees

If you do want to use coinbase

Here's my referal code

[REMOVED - AFFILIATE LINKS AGAINST FORUM RULES]

The fees are a touch higher but you do get $10 free btc and I get $10 free btc on a $100+ deposit. They also do quizzes where you can earn $30-$40 in alt coins whilst learning

The security is pretty solid on all 3 above but it's never a bad decision to move it onto a wallet then maybe cold storage
 

Tourmaline

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Binance is the go to standard if your state allows it.

Binance doesn't support my state so I use Bittrex. Coinbase is good too, but your options are very limited and Bittrex has lower fees and is an actual trading platform.

{REMOVED - AFFILIATE LINKS AGAINST FORUM RULES]
 
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Zimbizee

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Thanks for the replies.
My biggest fear is my money goes missing as reported by many folks i have read reviews from online, and then the exchange are very lax in responding or could't give a crap in retrieving said funds. Or they freeze your account for no reason which also happens too often when trying to cash out and withdraw your funds.

I tried doing this a couple of years ago and had the same problem and naively thought things might have improved by now, but it still seems to be the wild west out there in crypto land.
 

mdot

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I have used both Coinbase and Binance and I trust them enough to buy from and then withdraw crypto to my hardware wallet. I'm Canadian and I think the QuadrigaCX scandal still echos for many in our community so trust beyond that is slow to earn!

Edit: I should say I haven't verified my account on Binance because I use it for low volume trades. Coinbase verification took about a day.
 
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Choate

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Binance/Kraken/Coinbase are pretty standard. The past month has seen a lot of verification delays as the GME craze leaked over into Dogecoin and crypto in general was on a bull run which has since stabilized.

Keep in mind that exchanges are centralizing a decentralized currency. While the risk of anything happening is still low, you may not want to put the house into any one exchange.
 

Leo Hendrix

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I'm having a very frustrating time trying to JUST buy some crypto safely here in the UK

Many places i have found on the web have terrible reviews with regards to deposits going missing, taking ages or hidden and high fees. Also the verification process is a a real pain in the backside.
I mean i just want to buy some crypto, how hard can it be???

Can anyone recommend a site where i can signup, deposit money from a bank account, buy some crypto and then send it to my offsite wallet easily here in the UK..It would be very much appreciated.

Thanks
Try uphold and cex - these two work fine for me and are U.K companies ( PM me for my affiliate link :))
 

Parks

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I would go with Kraken 100%.

With wire transfers you can get funds same day by sending early morning and have buy limits up to $500K.

Nowhere else is as easy as that. Coinbase sporadically locks your account just paypal, they also are going public as a company.

Binance also can be shifty.
 
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Leo Hendrix

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I second Parks recommendation - I just re-started my Kraken account the other day. I cant remember why I haven't used them before but the fees from cex and uphold ($20+ on fees last night) are quite expensive...Whereas Kraken fees are supposedly very affordable and their customer service seems to be the best in the business.

The only other centralized exchanges I have used are Binance and Kucoin.

When using exchanges consider what assets you are after and what you want to do with them. Fees differ.

I suggested uphold and cex to you since they are U.K companies under the assumption that they might be more user-friendly - but Kraken has been in the game a long time and in my opinion they are geared towards serious crypto traders and investors
 
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Space Ghost

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I'm having a very frustrating time trying to JUST buy some crypto safely here in the UK

Many places i have found on the web have terrible reviews with regards to deposits going missing, taking ages or hidden and high fees. Also the verification process is a a real pain in the backside.
I mean i just want to buy some crypto, how hard can it be???

Can anyone recommend a site where i can signup, deposit money from a bank account, buy some crypto and then send it to my offsite wallet easily here in the UK..It would be very much appreciated.

Thanks
Not only do you have to find a a safe platform, but there are other things to consider.

The platform may not deal with the crypto you want to buy.

The platform you may want to deal with may not allow purchase of the crypto with fiat currencies. In which case you will have to use the likes of Bitcoin you already own to exchange for the crypto you want.

Don't retain your crypto on any platform for any length of time. Transfer your crypto to a wallet that only you have access to. Some platforms have been hacked and customers' crypto has been stolen (Gate.io comes to mind).

Make sure that you use the correct wallet for the crypto. People have lost crypto by transferring to the wrong type of wallet. Also, people have lost crypto forever by not providing the correct wallet receive address.

Apart from explicit charges, there are implicit charges, i.e. the spread (bid/offer spread, bid = sell price, offer = buy price), which may differ from platform to platform. The spread will also vary from crypto to crypto.

And don't forget charges to transfer to your wallet.

Storing your details to access accounts and wallets is imperative. If you keep these details written down, make sure they are in a safe place (and in a fireproof box). I keep all details in a secure note in the password manager Lastpass and also duplicated with the password manager Zoho.
 
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Zimbizee

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Jan 11, 2017
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Not only do you have to find a a safe platform, but there are other things to consider.

The platform may not deal with the crypto you want to buy.

The platform you may want to deal with may not allow purchase of the crypto with fiat currencies. In which case you will have to use the likes of Bitcoin you already own to exchange for the crypto you want.

Don't retain your crypto on any platform for any length of time. Transfer your crypto to a wallet that only you have access to. Some platforms have been hacked and customers' crypto has been stolen (Gate.io comes to mind).

Make sure that you use the correct wallet for the crypto. People have lost crypto by transferring to the wrong type of wallet. Also, people have lost crypto forever by not providing the correct wallet receive address.

Apart from explicit charges, there are implicit charges, i.e. the spread (bid/offer spread, bid = sell price, offer = buy price), which may differ from platform to platform. The spread will also vary from crypto to crypto.

And don't forget charges to transfer to your wallet.

Storing your details to access accounts and wallets is imperative. If you keep these details written down, make sure they are in a safe place (and in a fireproof box). I keep all details in a secure note in the password manager Lastpass and also duplicated with the password manager Zoho.
That's some great advice, thank you.
 

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