Bitcoin...

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Sonic1506
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Re: Bitcoin...

Post by Sonic1506 » Tue Dec 12, 2017 12:16 pm

Anyone know where to buy XRP/IOTA safely in GBP?

Coinbase only do BTC/LTC/ETH.
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ihadablackdog
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Re: Bitcoin...

Post by ihadablackdog » Tue Dec 12, 2017 2:33 pm

Do you get tax'ed when you cash-out?

Sam_M
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Re: Bitcoin...

Post by Sam_M » Tue Dec 12, 2017 4:05 pm

Sonic1506 wrote:
Tue Dec 12, 2017 12:16 pm
Anyone know where to buy XRP/IOTA safely in GBP?

Coinbase only do BTC/LTC/ETH.
Good luck finding any real exchange that allows you to deposit in GBP. UK banks do not want to engage in crypto.
Last edited by Sam_M on Tue Dec 12, 2017 4:14 pm, edited 1 time in total.

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Re: Bitcoin...

Post by Sam_M » Tue Dec 12, 2017 4:07 pm

ihadablackdog wrote:
Tue Dec 12, 2017 2:33 pm
Do you get tax'ed when you cash-out?
No taxation is applied during trading or cash out.

Profits from BTC currency trading would likely count as capital gains tax based on current HMRC guidance.

With CGT, the onus is on you to self report.

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Re: Bitcoin...

Post by Cupster » Tue Dec 12, 2017 4:19 pm

Up about 4% last 24hours. I got little etherium holding too which is up 30% last 24 hours. Nice!
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Peter9588
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Re: Bitcoin...

Post by Peter9588 » Tue Dec 12, 2017 7:36 pm

What method have people used to buy bitcoin, litecoin eth?

Everything I’ve tried today hasn’t worked properly.
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Re: Bitcoin...

Post by Peter9588 » Tue Dec 12, 2017 7:45 pm

Sam_M wrote:
Tue Dec 12, 2017 4:05 pm
Sonic1506 wrote:
Tue Dec 12, 2017 12:16 pm
Anyone know where to buy XRP/IOTA safely in GBP?

Coinbase only do BTC/LTC/ETH.
Good luck finding any real exchange that allows you to deposit in GBP. UK banks do not want to engage in crypto.
COuld our give any advice on how to invest in cryptos in the uk?

I’ve got a jaxx wallet set up. Was also trying to buy on coinbase however my bank blocked the transaction.

Any advice would be much appreciated
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Re: Bitcoin...

Post by BillTheButcher » Tue Dec 12, 2017 7:55 pm

Peter9588 wrote:
Tue Dec 12, 2017 7:45 pm
Sam_M wrote:
Tue Dec 12, 2017 4:05 pm
Sonic1506 wrote:
Tue Dec 12, 2017 12:16 pm
Anyone know where to buy XRP/IOTA safely in GBP?

Coinbase only do BTC/LTC/ETH.
Good luck finding any real exchange that allows you to deposit in GBP. UK banks do not want to engage in crypto.
COuld our give any advice on how to invest in cryptos in the uk?

I’ve got a jaxx wallet set up. Was also trying to buy on coinbase however my bank blocked the transaction.

Any advice would be much appreciated
I used a combination of Coinbase, Circle and Blockchain to move BTC around for various projects earlier this year. In the end everything ended up in Coinbase where it's been sitting ever since. To add funds directly to Coinbase (rather than transferring BTC from other wallets) I linked my debit card. The first attempt was blocked but after I'd gone through my bank's security checks all of the subsequent transactions went through.

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Re: Bitcoin...

Post by Tricky401 » Tue Dec 12, 2017 8:40 pm

Is it easy to get your money back out from coinbase? I read a few reviews for the app and it suggests it's a nightmare to withdrawal money so kind of put me off
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Re: Bitcoin...

Post by Maccy » Wed Dec 13, 2017 8:59 am

I would strongly recommend opening a Revolut online bank account, it's free and takes minutes (it's also great for currency exchanging and sending money internationally for no fees). Can easily be topped up/transferred to from any UK bank account too.

Regarding the withdrawal from Coinbase, again Revolut makes this easy. Add the account details in Coinbase, and then in Revolut you need to activate a EUR account and put some money in it (€6 is fine). Set up Coinbase as a beneficiary in Revolut and send the €6 to Coinbase with the details that they give you (Iban, bic/swift, reference etc), it will take a couple of days to go through and will show up in your Coinbase account - the bank account within Coinbase will show as verified as well.

Once all set up and verified then you'll be able to withdraw to Revolut (it will have to be from your EUR wallet but you can convert this back to GBP within Revolut).
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Re: Bitcoin...

Post by Sonic1506 » Wed Dec 13, 2017 10:00 am

Peter9588 wrote:
Tue Dec 12, 2017 7:45 pm
Sam_M wrote:
Tue Dec 12, 2017 4:05 pm
Sonic1506 wrote:
Tue Dec 12, 2017 12:16 pm
Anyone know where to buy XRP/IOTA safely in GBP?

Coinbase only do BTC/LTC/ETH.
Good luck finding any real exchange that allows you to deposit in GBP. UK banks do not want to engage in crypto.
COuld our give any advice on how to invest in cryptos in the uk?

I’ve got a jaxx wallet set up. Was also trying to buy on coinbase however my bank blocked the transaction.

Any advice would be much appreciated
Peter9588 wrote:
Tue Dec 12, 2017 7:36 pm
What method have people used to buy bitcoin, litecoin eth?

Everything I’ve tried today hasn’t worked properly.
I used Coinbase to buy LTC and BTC in GBP and bought through my debit card.
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Re: Bitcoin...

Post by Sam_M » Wed Dec 13, 2017 10:12 am

Peter9588 wrote:
Tue Dec 12, 2017 7:45 pm
Sam_M wrote:
Tue Dec 12, 2017 4:05 pm
Sonic1506 wrote:
Tue Dec 12, 2017 12:16 pm
Anyone know where to buy XRP/IOTA safely in GBP?

Coinbase only do BTC/LTC/ETH.
Good luck finding any real exchange that allows you to deposit in GBP. UK banks do not want to engage in crypto.
COuld our give any advice on how to invest in cryptos in the uk?
Maccy wrote:
Wed Dec 13, 2017 8:59 am
I would strongly recommend opening a Revolut online bank account, it's free and takes minutes (it's also great for currency exchanging and sending money internationally for no fees). Can easily be topped up/transferred to from any UK bank account too.

Regarding the withdrawal from Coinbase, again Revolut makes this easy. Add the account details in Coinbase, and then in Revolut you need to activate a EUR account and put some money in it (€6 is fine). Set up Coinbase as a beneficiary in Revolut and send the €6 to Coinbase with the details that they give you (Iban, bic/swift, reference etc), it will take a couple of days to go through and will show up in your Coinbase account - the bank account within Coinbase will show as verified as well.

Once all set up and verified then you'll be able to withdraw to Revolut (it will have to be from your EUR wallet but you can convert this back to GBP within Revolut).
What he said ^^^ this is what I do to trade on BitStamp.

Also, don't use coinbase for trading, use their real exchange - GDAX, much reduced fees. Coinbase is the "retail" arm and shafts you on fees....
Sonic1506 wrote:
Wed Dec 13, 2017 10:00 am


I used Coinbase to buy LTC and BTC in GBP and bought through my debit card.
That's good and all, nice, convenient and fast(assuming your bank doesn't block the transaction) but the 5% fees suck. Upshot? If you pay 5% on purchase, the market has to move up 5% to take you back to your original investment.

Better to use the revolut method above, most major exchanges charge 20 times per transaction less than buying with coinbase via debit card.

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Sonic1506
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Re: Bitcoin...

Post by Sonic1506 » Wed Dec 13, 2017 10:51 am

Sam_M wrote:
Wed Dec 13, 2017 10:12 am
That's good and all, nice, convenient and fast(assuming your bank doesn't block the transaction) but the 5% fees suck. Upshot? If you pay 5% on purchase, the market has to move up 5% to take you back to your original investment.

Better to use the revolut method above, most major exchanges charge 20 times per transaction less than buying with coinbase via debit card.
I haven't bought Crpyto to trade. I've bought it as an investment to sit on although I do check it 3 times daily. I'm happy using this method personally and I know many others who use the same method. The fees worked out to be minimal on the investment that I put down.

I use Delta to track my earnings/losses.
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Re: Bitcoin...

Post by Sam_M » Wed Dec 13, 2017 11:05 am

Trading or no trading, you still need the market to go up 5% to get you back to your original investment amount.

If you're buying to hold, then there's no pressure to buy fast, so why pay fees that are 20 times what others are offering?

Sure, its convenient just to use your debit card, but it just seems like throwing money away to me mate :)

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Re: Bitcoin...

Post by nawz » Wed Dec 13, 2017 6:04 pm

I use kraken to buy my BTC, ETH and XRP.

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