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Group Cryptocurrencies
Started by JD on 17/04/2015


Discussion

Fidor to Fidor

From Buster on 24.08.2017 at 13:17

German Fidor accounts can apparently instantly deposit cash into their Kraken account because Kraken is also on Fidor. Do you think that will ever roll out to UK Fidor accounts?



Withdrawing FIAT from Kraken

From Lemon on 28.07.2017 at 19:37

Given that Fidor does not accept SEPA transfers in, how are people in the UK withdrawing fiat from Kraken? I currently have euros stuck in my Kraken account. I want to get them into my UK bank account as cheaply as pos.

Show all 6 comments

robdykedotcom wrote on 20.08.2017 at 22:48

I've been using Bunq with Coinbase without issues. The money-go-round when a little like this....

1) open two bank accounts one saturday evening (fidor and bunq) with all the clever online stuff.
2) TX from UK bank to Fidor using Faster Payment.
3) TX from Fidor to Bunq using SEPA.
4) TX to Coinbase to verify account.

For withdrawals:
1) Sell to Bunq account in Coinbase
2) Withdraw to Bunq using SEPA (fast Mon-Thu, slow Fri-Sun)
3) Use some thirdparty exchange to move EUR (SEPA from bunq) to GBP (Fidor).

Anyone got other methods?

/rob


Lemon wrote on 24.08.2017 at 13:45

REVOLUT WORKED!

Odd, user0001, that it didn't work for you as I tried a small amount with Revolut, (10 euros) and it worked.

I received the amount today, though to be fair I ordered this withdrawal weeks ago.

BUT it did work. And only a 0.09 cent charge on EURO withdrawals. Then you can change to pounds at almost perfect exchange rate.


user0001 wrote on 24.08.2017 at 13:58

I also received my withdrawal, nearly a month after it was sent from Kraken. It might have had something to do with problems Revolut had using a Lithuanian IBAN with a British BIC. They have recently changed to British IBANs (beginning with GB instead of LT).

Different customer service reps at Revolut gave different answers to the issue, so it is possible that the one I quoted is incorrect. Kraken recently emailed me regarding the issue and said,

"Due to a technical issue your recent withdrawal to Revolut has been sent to your Bank account today. Because you have also been credited the full amount back to your Kraken account, we had to temporarily lock your ability to trade and withdraw. You will soon be manually debited the amount that was sent to your Revolut account. Depending on the funds in your Kraken account, this may lead to a negative EUR balance which will have to be settled before trading/withdrawing will be re-enabled.
This does not mean that withdrawals to Revolut will be possible from now on but it certainly means that we are getting closer to being able to offer withdrawals to Revolut in the future."

I'm glad that your transfer went through without a hitch. I believe Revolut offers the cheapest way to convert back to GBP but I'm going to stick with EUR Fire Bank for withdrawals, as that method has been flawless for me.



Crypto wallet in GBP

From Tangaroa on 06.05.2017 at 22:23

I joined Fidor bank to add funds to my Kraken account but Kraken is taking ages in verifying my tier 3 ID. So I am thinking of adding funds to my Coinbase wallet but due to the fact that Fidor bank does not have an IBAN I cannot use it for this purpouse. This leave me with the option of using my other bank account international transfer, which charges me tons.

I guess I would be happy to buy bitcoins from localbitcoins or coincut and deposit on my kraken or coinbase account.

3 questions:
1) Does anyone know of any other method to transfer money cheaply to coinbase?
2) Does anyone know of any wallet/exchange that accept transfers in GBP?
3) Why if the current market value of bitcoin/GBP (coinbase) is 1224.... coincut sells at 1284...? The £60 difference sounds a bit steep.
ANy comments, ideas, feedback welcomed.

Show all 10 comments

mwri wrote on 21.06.2017 at 17:36

If you are in Europe, coinbase is not for you, you cannot trade on USD pairings and the volume is not there for trading on EUR.

You are better off on Kraken, better security, better volume. Kraken wait times are 2-4 weeks due to load (says on their page).

Coinbase also has too high fees for SEPA area, Coinbase are focusing on the US market and investors/broker deals.

Use coinmarketcap website to check exchanges and volumes.

To trade, you want VOLUME on the order book for your selected currency pairings otherwise you will get scalped by their bots and buying from their front page, will always get you the worst price.

Kraken also tends to have lower prices than coinbase exchange on some crypti pairings.

Also when selecting an exchange, I would be aware of USDT (USD Tether) it is another false coin, it is no longer 1:1 tether as far as I see.

Open a support ticket, they will get back to you (eventually).


Lemon wrote on 28.07.2017 at 19:28

I had the same problem with waiting for Kraken verification and ended up using coinfloor instead. The verification was way quicker. I think you can pay in pounds but I used SEPA transfer from Fidor as I assumed it would work out a little cheaper. Not sure if it actually did.


Buster wrote on 24.08.2017 at 11:00

I think Kraken took about 2 weeks to verify me on tier 3, worth the wait.



Taxation

From mjrich on 20.09.2016 at 19:01

Do es anyone have any experience with digital currency taxation? Does every digital to digital trade need to be marked and taxed like in the U.S.A or does tax only apply to the money coming in to a bank from the act of selling digital currencies?

And does anyone know wether you would pay corporate/income or cap. gains if you were selling via an exchange or peer-2-peer exchange in to your bank account and not trading fiat pairs?

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mjrich wrote on 20.09.2016 at 22:46

Thanks Joel. So there is no income tax from trading digital currency to digital currency? Just an "entry" and "exit" price of which the CGT would be derived when selling digital currency to GBP? That would simplify accounting a lot but it almost seems like a bit of a loophole.


Buster wrote on 24.08.2017 at 12:49

I read CGT as tax on profit made in GBP.


Sian wrote on 24.08.2017 at 14:42

@Buster: Not just in GBP, of course. This is actually quite helpful: https://www.gov.uk/capital-gains-tax/overview



Monero, Dash, Ethereum for GBP

From miaoux on 18.08.2016 at 16:05

Hello all,

If anyone is interested in buying non-bitcoin digital currency (altcoins) easily with GBP/£, now's your chance.

We've has just launched our service at Coincut.com which allows you to buy Monero, Dash & Ethereum. We also do bitcoins in case the boring sideways movement is your thing too ;)

Dax

Show all 17 comments

grouch wrote on 19.08.2016 at 13:32

Joel

I received a direct reply from the Fidor help line regards my question. I think you should be careful stating official Fidor policy if you do not represent Fidor. I would consider the Fidor help line the source of official policy.


JoelDalais wrote on 19.08.2016 at 18:24

That's nice.

But anyone is free to quote the official policy of Fidor (which we encourage members to communicate with each other in this fashion), whether or not they work for Fidor is irrelevant.

If you are unsure whether what anyone tells you is correct you are of course free to seek an answer from an official representative.

As a Moderator it is part of my duty to quote the official policy line whenever asked, which, you did ask.


JoelDalais wrote on 19.08.2016 at 20:11

As an extra note - while moderators are on duty we do represent Fidor, though we do not represent them in an 'official' manner.

If that's unclear for you let me know and I will try to explain it further.



Selling up to 0.5 btc at market average +2%

From JoelDalais on 27.07.2016 at 02:34

The market average can be found here - https://bitcoinaverage.com/#GBP

So if its £500, then that means I am selling up to 0.5 (£250) + 2% (£5). You don't have to buy the whole 0.5, you can just buy £10's worth, or more, etc, a minimum of £10 though (I don't want to make tons of <£10 sales).

PM me or leave a message, selling only through Fidor.


JoelDalais wrote on 27.07.2016 at 02:36

As a note, its a rarity I sell any coins these days so don't expect/ask me to sell anymore.



Fidor Tap card can't be verified when trying to add it to Circle & Coinbase accounts. How do you buy BTC/ETH?

From csl on 22.07.2016 at 10:26

I'm really struggling with my Fidor Tap card at the moment. After initially setting up an account I ordered a Tap card in order to add a card to Circle or Coinbase to make buying bitcoin easier. But I can't seem to get the card verified. How have you dealt with this? Must I make a normal purchase first to 'initialise' the card? (e.g. At the supermarket, as I haven't used it apart from trying to add it to Circle/Coinbase.)

How have you used your Fidor account to buy crypto? Any tips on how to get this rolling? Thanks!

Show all 14 comments

JoelDalais wrote on 22.07.2016 at 17:48

Though I do suggest buying from another Fidor member as its quicker and safer.


grouch wrote on 22.07.2016 at 17:52

Happy to help with selling you some bitcoins, or buying some.


csl wrote on 22.07.2016 at 17:52

Hi Joel -- shall send an email through now.



Great run up on Bitcoin and Ether

From grouch on 16.06.2016 at 17:25

It seems Brexit, Chinese capital controls and other items are driving Bitcoin higher



Scam Coins

From JoelDalais on 06.06.2016 at 10:37

How to spot a scam coin - these are a few warning signs, but you should not limit yourself to just these warnings. This is not to say that coins with these attributes are definitely scams, but if they have these attributes then you should do extra due diligence.

1) Closed source code.
2) Developers own the majority of hashing.
3) The developers/backers/'investors' (all or either) are anonymous.
4) Comes with huge partnerships statements (mastercard/visa, etc), which so far, in 100% of cases is false.
5) States itself as 'the next bitcoin'.
6) Vastly overstates its market value (see https://coinmarketcap.com/).
7) Massive pre-mine.*
8) Zero technical capabilities detailed.
9) Technical capabilities are a clone of bitcoin with nothing extra (or very minimal, e.g. total/rate of supply).

*Note - a lot of times a pre-mine is a valid way for developers to fund themselves, but in combination with all the other factors is when you should be wary.

Feel free to add to this list.


MIROW wrote on 06.06.2016 at 11:56

OneCoin raises all the flags of being a scam and their social events and membership fees have all the hallmarks of a pyramid scheme or MLM.



Survey - please participate

From grouch on 01.06.2016 at 00:05

Could you give feedback. Do you own a crypto currency? If yes what one/s

What do you use it for. For example investor, money transfer (remittance) etc

Show all 6 comments

dnair28 wrote on 01.06.2016 at 03:34

international money transfer


JamieMcNaught wrote on 01.06.2016 at 06:07

XBT - Trading (https://www.solidi.co), speculating and spending (Humble Bundle / Scan / ssls.com)


spikezz wrote on 02.06.2016 at 05:03

Bitcoin small amount. Thinking about Ethereum.



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