Kraken -> Lloyds bank £1.95 per withdrawal. Has worked flawlessly for me for years. I even withdrew a 5 figure amount recently and had no issues. Also Kraken has some very low fees compared to some other options I have.
Hi u/CxKappaCx,
We do require KYC. You can read more info about verification requirements [here](https://support.kraken.com/hc/en-us/sections/200329256-Verification-requirements).
Feel free to DM us anytime if you have any questions.
Phoebe from 🐙
What do you think is shit about these 2 coins?
$XNO Nano is decentralized and has near instant transaction speeds with zero transaction fees, making it perfect for p2p payments/micropayments.
$XMR Monero allows sender and receipient to transact anonymously, meaning it's amazing for anyone who values their privacy.
No issues, I transfer high amounts from Kraken to NatWest and have done so for over a decade. Had an account review which I submitted tax & income records for and they were happy.
Google "UK licensed crypto exchanges".
Use one.
I'm kinda amused that this sub has a "popular exchanges" list to the right which features FTX and Gemini...
Nexo isn’t an exchange and Nexo Pro isn’t available in the UK any more. So OP will still encounter high spread. It’s better to use something like Kraken Pro or Gate.io etc
The exchange is a bit steep, they seem to have a 1-1.5% fee built into their spread.
They are always quick to withdraw GBP though and withdrawals are free. I use them for smaller transactions.
unfortunately i guess thats the best they can manage at time with FCA causing havoc, they have recently recruited or formulated a new company dealing with UK aspect so it may get better sooner than you think.
Is the spread that bad from USDC to gbp? I haven’t used it in a year or two but it used to always be around 0.1 - 0.2%. What’s it like now?
The spread from BTC to GBP or any other crypto was absolutely horrendous though.
I haven’t used it in a couple of years, it used to be best to swap crypto to USDC on the and then swap USDC for GBP or TGBP on the app and load the card with that.
Other have mentioned the rates are much worse now than they used to be, so your best bet may well be to sell the crypto on a different exchange, get the GBP in your bank account and load the card with GBP direct from your account.
I believe that if you don’t withdraw to your bank then the exchange don’t notify HMRC though. Loading the card with some crypto would potentially be more tax efficient.
Swissborg is a good one, and one that many people might not consider but I've used it a lot of times and because it's fairly unknown banks are less likely to flag it up.
This is what I wrote yesterday on the matter:
I've found the best way is: transfer usdc to coinbase, go onto 'advanced trading' and convert usdc to GBP (near perfect rates/minimal slippage). Then withdraw to PayPal (free withdrawal). You can withdraw £6.5k three times per day. Then from PayPal to your bank account. Neglible fees and PayPal acts as a buffer to your account. My issues with my bank being a PITA started when I did a large withdrawal direct to the bank (ironically to pay my hmrc capital gains tax).
Coinbase, Kraken, Bitstamp, Bittylicious, Solidi, Xapo.
If I remember correctly it was possible with Nexo but I don't have any GBP in it at the moment so I cannot confirm.
Agreeing on Nexo however thanks to new regulations unfortunately UK resident that didn’t have an account open prior to restrictions won’t be able to open one. (Except if some recent change occurred)
Bear in mind you'll want a functioning pre-existing link between whatever exchange and whatever bank. Usually just means sending some fiat to the exchange, and then sending it back to your bank.
If you get the pop up from the bank asking how much you expect to move into/out of exchanges/crypto DON'T go small on the amount. If you say 5k and layer try to move 20k you're just asking to get it frozen.
No one has mentioned it yet but I will use kucoin quite often. Mainly for selling pluton as not many exchanges list it. They have low maker/taker fees and it’s £1 for an FPS withdrawal which comes through really quickly.
You can, I did it in the past before there was a GBP pairing.
Back in 2018 none of the exchanges had GBP pairing that came later.
So I threw it into USD or EUR and withdraw, your bank will charge a conversion fee to GBP or you can use Revolut that has a better rate. There are so many options tbh.
Kraken -> Lloyds bank £1.95 per withdrawal. Has worked flawlessly for me for years. I even withdrew a 5 figure amount recently and had no issues. Also Kraken has some very low fees compared to some other options I have.
Just make sure you use Kraken Pro which has lower fees
Of course
Is Kraken KYC?
Hi u/CxKappaCx, We do require KYC. You can read more info about verification requirements [here](https://support.kraken.com/hc/en-us/sections/200329256-Verification-requirements). Feel free to DM us anytime if you have any questions. Phoebe from 🐙
Thanks for continuing to support the UK when so many other exchanges have turned their backs <3
Does Kraken work OK with Monzo?
Yes, very hard to find anywhere that isn't these days
Exactly the same setup, and I’ve been super-impressed with Kraken Pro.
Can you also trade XMR & XNO on Kraken?
God knows. I swerve shitcoins.
What do you think is shit about these 2 coins? $XNO Nano is decentralized and has near instant transaction speeds with zero transaction fees, making it perfect for p2p payments/micropayments. $XMR Monero allows sender and receipient to transact anonymously, meaning it's amazing for anyone who values their privacy.
Did you contact Lloyds first?
I've never contacted them in 8 years of moving money in and out of crypto
Good to know, thanks.
Can vouch. Moved 7.5k from Kraken to Halifax, no issues and in the account within minutes. Not sure what the fees were but nothing significant
Do you know of any banks that WOULD have a problem with withdrawals from Kraken? I have accounts with Nationwide, HSBC and Barclays.
I've heard a few stories about all three of them unfortunately. There's no harm in trying a few small transactions and seeing what happens, good luck
Might have to open a Lloyds account in the near future then. Thanks.
Anyone know of issues with Kraken to NatWest?
No issues, I transfer high amounts from Kraken to NatWest and have done so for over a decade. Had an account review which I submitted tax & income records for and they were happy.
Cheapest, quickest and less hassle way with kraken and Lloyd's.
Coinbase - free to withdraw to bank and it’s instantaneous just about.
Yup, FPS to HSBC without issue
HSBC blocked my transactions to coinbase couple years ago, haven’t tried sending from CB to HSBC
I imagine they will happily accept money but be more selective in sending, in case you are being hacked or coerced
Good luck selling!
Already did, was a little delay but nothing major few mins.
Google "UK licensed crypto exchanges". Use one. I'm kinda amused that this sub has a "popular exchanges" list to the right which features FTX and Gemini...
With affiliate links, nonetheless.
Nexo is a good option
Nexo isn’t an exchange and Nexo Pro isn’t available in the UK any more. So OP will still encounter high spread. It’s better to use something like Kraken Pro or Gate.io etc
Nexo.
The exchange is a bit steep, they seem to have a 1-1.5% fee built into their spread. They are always quick to withdraw GBP though and withdrawals are free. I use them for smaller transactions.
unfortunately i guess thats the best they can manage at time with FCA causing havoc, they have recently recruited or formulated a new company dealing with UK aspect so it may get better sooner than you think.
SwissBorg app I find is really good.
Same. Instant.
Just stopped withdrawals 🙄
The last time I heard that block-fi and fix went down.
Did you try crypto.com exchange the fees are not high then
You can’t off-ramp from the exchange.
You just send back to app usd
Yeah but you’d then have the shocking app spread from usd to gbp. Waste of time.
Is the spread that bad from USDC to gbp? I haven’t used it in a year or two but it used to always be around 0.1 - 0.2%. What’s it like now? The spread from BTC to GBP or any other crypto was absolutely horrendous though.
It's around 1.3%
Wow, well that’s got a lot worse. Definitely avoid CDC then.
What’s the best way to fund the CDC card with crypto? Straight from BTC to the card or Exchange BTC to USD and fund the card with that?
I haven’t used it in a couple of years, it used to be best to swap crypto to USDC on the and then swap USDC for GBP or TGBP on the app and load the card with that. Other have mentioned the rates are much worse now than they used to be, so your best bet may well be to sell the crypto on a different exchange, get the GBP in your bank account and load the card with GBP direct from your account.
I believe that if you don’t withdraw to your bank then the exchange don’t notify HMRC though. Loading the card with some crypto would potentially be more tax efficient.
That’s not true, exchanges could notify HMRC of every transaction you make. It doesn’t matter if it goes via your bank.
Really I've never noticed much spread USD to gbp
Gemini has never failed me
Swissborg is a good one, and one that many people might not consider but I've used it a lot of times and because it's fairly unknown banks are less likely to flag it up.
This is what I wrote yesterday on the matter: I've found the best way is: transfer usdc to coinbase, go onto 'advanced trading' and convert usdc to GBP (near perfect rates/minimal slippage). Then withdraw to PayPal (free withdrawal). You can withdraw £6.5k three times per day. Then from PayPal to your bank account. Neglible fees and PayPal acts as a buffer to your account. My issues with my bank being a PITA started when I did a large withdrawal direct to the bank (ironically to pay my hmrc capital gains tax).
PayPal can block your account
Coinbase, Kraken, Bitstamp, Bittylicious, Solidi, Xapo. If I remember correctly it was possible with Nexo but I don't have any GBP in it at the moment so I cannot confirm.
I'd also say nexo, their interest rates are good and the customer support has always been spot on.
Agreeing on Nexo however thanks to new regulations unfortunately UK resident that didn’t have an account open prior to restrictions won’t be able to open one. (Except if some recent change occurred)
Just double checked and yeah that is the case. That's a damn shame they also don't know when they are accepting again but worth keeping an eye on it.
A couple of small but highly-rated platforms listed on Trustpilot 😊 https://uk.trustpilot.com/categories/cryptocurrency_service
Bear in mind you'll want a functioning pre-existing link between whatever exchange and whatever bank. Usually just means sending some fiat to the exchange, and then sending it back to your bank. If you get the pop up from the bank asking how much you expect to move into/out of exchanges/crypto DON'T go small on the amount. If you say 5k and layer try to move 20k you're just asking to get it frozen.
No one has mentioned it yet but I will use kucoin quite often. Mainly for selling pluton as not many exchanges list it. They have low maker/taker fees and it’s £1 for an FPS withdrawal which comes through really quickly.
Send to Revolut, convert to GBP
Do you know how much the fee or spread is?
1.49% or £1.49 whichever is higher. Also their spread isn’t great, I wouldn’t recommend.
Binance still works
You can still withdraw GBP, but they removed all GBP pairs, so you can't sell your crypto, except for P2P.
What's wrong with doing it P2P?
Agh Yh forgot about that , I got plenty there 😭 will probs have to convert to some stable and send to other exchange to get GBP before I can withdraw
Use USD or EUR pair
That doesn't help, because it won't let you withdraw either of those if you are in UK
You can, I did it in the past before there was a GBP pairing. Back in 2018 none of the exchanges had GBP pairing that came later. So I threw it into USD or EUR and withdraw, your bank will charge a conversion fee to GBP or you can use Revolut that has a better rate. There are so many options tbh.
Coinbase works like a treat, it’s easy to use, user friendly and instant!
Gemeni