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How to buy bitcoin with Fidor UK bank?
Kraken wont let me login/502 errors for weeks now so thats no longer an option, Coinbase is taking now over a week to verify my passport photo i uploaded and cant buy anything until they take there sweet time. Is there any other way of buying bitcoin, either through GBP or EURO SEPA transfer through Fidor UK with decent rates?
[#903|+495|150] After 15 years and a great relationship with my bank - Lloyds have shut down my account without warning because I sold off some Bitcoin - be careful, and if you're in the UK please consider using Fidor [/r/Bitcoin]
After 15 years and a great relationship with my bank - Lloyds have shut down my account without warning because I sold off some Bitcoin - be careful, and if you're in the UK please consider using Fidor /r/Bitcoin
What is the point of Lightning Network & Blockstream?
So I was reading this article about ripple's recent use in the existing banking system and I realized that this is BlockStream's goal. They want to sign up banks and big players to send money via the bitcoin blockchain all over the world. However, given that BlockStream has not only been beat to the market and that Ripple is being used in production today(1,2,3); what is BlockStream's plan? Essentially I want to know two things:
What does Ligtning network offer today that Ripple doesn't?
What (and when) will Lightning Network offer in it's first release that Ripple won't have by then?
Why I believe we're on the cusp of the 3rd great Bitcoin bubble
We've recovered from the last crash You might think it's a bit early (based on the time frame for the last recovery), but things are looking a lot different than in 2011. I would suggest its because the last bubble popped prematurely due to Mt. Gox's failure of a trading engine. Interest in buying Bitcoins has gone up to its highest point since the last bubble. There's a similar spike in general interest. Partly helped along by the Silk Road news. The network is being used at the same rate as during the last bubble. The Bitcoin ATM story (see below) is causing Bitcoin to trend in Canada on Google (was #1 for a bit). The $27 story (see below) will almost certainly cause a large spike worldwide in Google trends once they're updated up to yesterday. Lots and lots of new businesses now accept Bitcoins One legitimate criticism of Bitcoin last year was the lack of places to spend them. We basically just had Alpaca Socks, Reddit and Wordpress, we've grown a lot since then!
The $27 story is going massively viral I think the attention this story is getting took a lot of us by surprise. We're thinking "of course if you bought Bitcoins in 2009 you're rich" and it didn't make much of a splash. But to the rest of the world it's a very novel and interesting story.
Institutional money is coming Afraid with the price at $200 that it will be hard to find enough moms and pops to keep money coming in faster than miners are selling? Don't be, there are individuals out there with a net worth higher than the entire Bitcoin ecosystem.
Governments are explicitly saying it's not illegal More and more governments are either saying Bitcoins are legitimate currency, or releasing guidelines for exchanges to comply with anti-money-laundering laws.
New generation of exchanges Mt. Gox's terrible trading engine was a huge factor in the last crash. They couldn't keep up with all the new interest. This time around there are more exchanges in more countries, and not a single point of liquidity.
Updated: 16th Jul 17 Just making a list of UK friendly/neutral banks that won't close your account at the whiff of the word "bitcoin". In order: 1) Fidor Bank - prob the best one out the lot, I've spoken to Joel who works for them and is very helpful here and on the Fidor community. Can't withdraw crypto into this just yet as there is no IBAN 2) Nationwide Building Society - from threads here, they seem ok? The main problem I had recently though was a SEPA transfer to Kraken took ages as apparently Nationwide use the same outgoing IBAN for everyone 3) Metrobank? TBC, heard they are Uphold's bank 4) BBVA? TBC, they made a few investments in crypto but not sure if their retail bank is as open minded 5) Monese? - speaking to them, this is fine within reason. Update: this may no longer be ok, currently clarifying this new position 6) Fire.com - has both a GBP and EUR account on open Let me know of others. HSBC, Barclays, Lloyds, RBS, Natwest and Santander are apparently pretty brutal on closing people's accounts though some anecdotes that a few people are able to use them (prob without them knowing/checking your transactions yet). Anyone use Revolut? I cant get hold of their customer support team so can't confirm
How to get started buying bitcoin in the UK? Need guidance
So after seeing the post about bitcoin rising over 9000 usd on the front page a few days ago I started kicking myself for not buying it when I was considering a year ago. I bought 15 pounds worth at 10,000 usd through a blockchain wallet and after seeing it now skyrocket to 14000 usd I'm now kicking myself again for not buying more. Unfortunately I can't for the time being as it says on blockchain that it will take multiple days to verify my payment info till I can buy again. I want to make a larger investment ASAP but whats the best way for someone in the UK? I've read various methods online and tbh am almost more confused than when I started with all the various options. Here's what I've gathered: To buy bitcoin I shouldn't be using sites like the one I've just used because of fees. Instead I should use GDAX as per this video https://www.youtube.com/watch?v=lcCIjIAqM-4&t=52s GDAX doesn't take GBP but only EUROS. So I need to convert my GBP to Euros. The fees with my bank are insane so the best way to do it is with Fidor who charge just a 2.50 flat fee then a low exchange rate. Use EUROS to buy bitcoin with no fees on GDAX. Buy a hardware wallet and transfer majority of bitcoins to it after buying them. Is that everything? I'm sure its far more complicated then that, I keep seeing Kraken mentioned a lot but where does it fit in. And at what point do potential fees with converting to EUROS add up to the point where its better (or the difference is so negligible) to just continue buying bitcoin how I've been doing them through a site that charges fees? Thanks.
If you want Bitcoin integrated on the Fidor(UK) platform, now is the time to tell them. And who knows, if it gets integrated on the UK platform and it goes well they might consider it for the other countries. https://community.fidorbank.uk/group/fidor-uk-polling-https-fidoruk https://fidoruk.consider.it/ Even if you're not a Fidor UK (or DE) customer, your opinion still matters. Filters can be used so that Fidor can see the potential for new customers if such a thing was integrated.
Anyone from the UK and have a decent system in place to withdraw to fiat once the time comes? I've seen here that many banks in the UK seem to be unfriendly to any transactions via crypto exchanges and you run a risk of immediate account closure. I signed up for a Fidor account but they don't allow incoming SEPA/SWIFT transfers so it's useless for receiving withdrawals. I assume Nationwide is next best but I'd be interested to hear of any experiences so far. Other option is ETH->BTC then sell for fiat on localbitcoins but I'd rather avoid adding BTC to the mix during a volatile period (and while the transaction times are so long). Thanks in advance
This has been asked 100 times but I just want to clarify something before I go ahead. I want to buy bitcoin or litecoin(litecoin preferably because of the low fees). Ive opened a Lloyd's bank just to add a safety layer. I've found out that there are two ways. UK account -> fidor-> kraken-> bitcoin/litecoin UK account-> revolut->kraken->bitcoin/litecoin I was wondering which method has cheaper fees and what they are. What method do you use and what are the fees like. Thanks! I've bought some BTC before from localbitcoins and straight from coinbase through a credit card(whew those fees!)
Hello, I'm relatively new to the cryptocurrency scene. I'm planning on investing £200 each month over the next year in Bitcoin, Ethereum and Litecoin. However, I'm not sure how I'll be able to cash out after the year is over, as I've heard that a lot of high street UK banks freeze accounts that sell cryptocurrencies. So far I've done this:
I've opened a Fidor Bank Account and will deposit £200 into this account each month. I've opened a coinbase account to buy btc, eth and ltc.
However, I've noticed that I can't find an IBAN or BIC number anywhere on my Fidor Bank Account, which are required by coinbase to set up a transfer with them so I can cash out my £. Any UK readers here who could guide me on how to cash out? Ideally I would prefer to just do a transfer into my Fidor Account. Thanks for taking the time to read my post! Edit: fire and monese said that for their personal account, they are happy to accept funds coming in from selling bitcoin. Fidor is also working hard on providing IBANs.
Hi everyone, I haven't posted in a little while (I've been busy doing stuff), but here you go; If you are not aware, Fidor (UK) have gained their UK banking license (25th Sept) and you can open a current account with them. Average time is 1-2 weeks to open. They do Faster Payment. They are bitcoin friendly, no you can't purchase/sell bitcoin directly from them, but you can use your Fidor account for whatever reasons you want. Obviously if you are sending/receiving large amounts you might be queried (a query does not equal account closure). They are not afraid of bitcoin and your account is your account. Debit cards and direct debit & standing orders, are not here (yet), they are coming (rough eta will be given within a fortnight, or sooner). Other things potentially in discussion - p2p lending, crowdfunding, loans, ethical lending. Bitcoin/crypto integration is coming, but I can't give any date on that at this time (after UK regulations, and I can't give any date that either, sorry), and whether that will be direct on Fidor or with a partner, I can't give any information on that yet either (I do however have some very interesting ideas on how to progress in this direction).
Note: Currently all customers have the same sort code & account number (separated by your Fidor ID), we are working towards separate SC & AN's for all customers, this will come in due time (sooner rather than later).
As you may, or may not, know, I've been in the crypto space for quite a few years and have done stuff in the background over this period, this is just the start of what we've all been waiting for :) If you have questions please feel free to post here, or on the Fidor community site. https://www.fidorbank.uk/ https://community.fidorbank.uk/ Disclaimer: I recently got recruited by Fidor.
Hi Folks, Been thinking about investing for a while, and have decided to take the plunge. Just want to write down my plan and let the experts out there see if what I'm doing is correct. I only plan to invest £200 or so at a time in bitcoin, ethereum and hopefully litecoin, with the intention to sell at some point in the future. So I've opened a fidor bank account, got verified, and I'm currently waiting for the arrival of my physical debit card in the post. I've joined cex.io and verified myself on there, will verify my card on there when it arrives. Then I guess the next step is to just purchase my coins. I've read about wallets, do I need one of these or can I just leave my coins in my cex.io account? I hear a lot of people talk of private offline keys, do I need one of them? Is what I'm doing the best way to buy? Only using fidor as I've read about main UK high street banks not looking too friendly at deposits to bitcoin exchanges. I'm not looking at anyway to avoid paying taxes on any income either btw. Thanks for reading!
Can anyone provide or suggest a good, current overview of how best to get hold of Bitcoin in the UK for a complete beginner?
Apologies if this has been covered already. I'm completely new to the Bitcoin world and very keen to get involved, but it seems much of the information on how to get started is a bit outdated or not directly applicable to the UK. I've seen a few posts on here about changing GBP into EUR and setting up a Fidor bank account in order to do SEPA transfers... and admittedly I'm a bit lost. If anyone is able to provide a comprehensive overview of how to get up and running I'd be very grateful! (And equally, if anyone is able to recommend a good wallet, exchange etc for a beginner that would be great!)
How can I get my Euros from Kraken Exchange to a bank account?
I have some Euros currently in my Kraken Exchange account and I have a Fidor UK bank account but Fidor UK bank doesn't have IBN (SEPA transfer). Does anyone know of any alternatives I could use? I know a lot of banks are very strict about receiving money from bitcoin exchanges, so I'm worried about transferring to a mainstream bank such as Nationwide, RBS, Barclays etc. Any ideas would be great thanks!
Fidor's Partners. Together we build the future of banking Our success comes from a strong relationship with our partners, based on trust and excellence. Together, we created a banking ecosystem that excels, becomes stronger every day and successfully scales for growth. A German-based bank called Fidor Bank recently set up shop in the United Kingdom, prompting speculations that it might start offering its bitcoin services there as well. Fidor Bank is known for being more open to new developments in the digital age and was recognized by the World Economic Forum as a “Global Growth Company” back in 2014 ... Begin the trade If you are satisfied with the seller’s terms, enter the amount of bitcoin you want to buy, and start the trade. This will open a live chat with the seller. Follow the instructions of the seller to make the payment and confirm it. Receive the bitcoin The seller will then release the bitcoins directly into your Paxful wallet. Fidor Bank: Germany, UK: German challenger bank Fidor, which recently also opened a branch in the UK, is one of Europe's bitcoin-friendliest financial institutions. In 2015, the bank implemented a direct purchases feature with German exchange bitcoin.de for its German users and has been a banking partner for digital currency exchange Kraken. Fidor supports SEPA, UK and global payments schemes, in single transactions as well as batch transfers. The API also supports direct debits. The blocked amount API enables wallets and payment guarantees (e.g. used by smava.de and bitcoin.de).
Interview with Matthias Kröner of Fidor Bank on Digital Banking and Bitcoin
In diesem Video zeige ich dir nun, wie du dir ein Fidor Bank Online Konto erstellst, um später dann in Echtzeit auf Bitcoin.de mit Bitcoins zu handeln. ⬇ ⬇ Meine Wunderwaffen für ... Bitcoin-Express-Handel leicht gemacht - Fidor Bank - Duration: 2:20. Fidor Bank AG 84,275 views. 2:20. JIM JORDAN FIRED UP: During President Trump Impeachment Hearing - Duration: 7:52. To revolutionise banking in a truly global way, financial services need to be open -- to their customers, to change and to innovation. This was the message delivered by Matthias Kröner, CEO of ... DEINE ANMELDUNG BEI BITCOIN.DE (Bitcoins kaufen) https://www.bitcoin.de/de/r/7gqa7y DEINE ANMELDUNG BEI DER FIDOR BANK (Damit Du kaufen kannst!) https://bank... 👇 Die wichtigsten Kryptoseiten in der Beschreibung 👇 Heute möchte ich mit euch über die neuen Kosten bei der Fidor Bank sprechen. Kostenlos Abonnent werden: ...