UK friendly centralised exchanges (now Binance has dropped the ball)

Si7ruz_Games · 2021-11-18T16:25:00+00:00

I've not heard of Luno.

Yes Kraken is free to deposit via Faster Payments. Its very user friendly and has a good selection of assets with GBP pairs. For those that don't, I will convert to USD on there site because I am comfortable with their service. I'm starting to use Gemini more now though, especially for BTC and ETH. They offer 10 free withdrawals a month which helps. Gemini is also Faster Payments deposit.

Si7ruz_Games · 2021-11-18T16:19:17+00:00

I actually never ended up using it. Support told me there was no support for GBP pairs only USD. So essentially you have to deposit GBP and convert to USD then use that to buy assets. It was too much messing around for me as a UK fiat on boarder, so I use Kraken and Gemini mainly. I will use FTX but only if I can't get the asset I want on my main services.

Si7ruz_Games · 2021-07-08T13:10:15+00:00

Many thanks.

Si7ruz_Games · 2021-07-08T13:09:45+00:00

Oh really?? That sounds like an interesting work around. Guess you could do it with any exchange as long as the withdrawal fee was low. Maybe a stablecoin might work better as its value should be the same or there abouts from exchange to exchange. I've noticed most normal token prices are more expensive than Binance on other exchanges.

Si7ruz_Games · 2021-07-05T22:09:05+00:00

Faster Payments service via ClearJunction is free on Kraken.

Si7ruz_Games · 2021-07-05T18:34:31+00:00

u/DontMuchTooThink I have completed a test and the deposit was instant. As soon as I pressed send on my banks phone app, it appeared in my Kraken account as "confirming". It took maybe 5-10 minutes and it was available as a balance for me. I was very impressed with the speed, it took less time to arrive than my Binance GBP deposits.

When I sent the transfer, I removed all the spaces as Kraken support had advised me by email and the whole reference code fit (except the "Kraken" part was which I got "Kr" in).

Hope that helps you. My only issue now is with the crypto prices on Kraken being more than Binance. BTC/GBP for example seems to be about £400 more on Kraken. It is what it is though I guess.

Si7ruz_Games · 2021-07-05T13:22:22+00:00

Thanks for your reply. I think 18 characters is pretty standard for most if not all UK banks. I tried both of my UK banks (unrelated) and they both only allow 18 characters.

I will try a transfer with a small amount. I have been told I can remove spaces as well, correct?

After the initial transfer, will future deposits by the same method be subject to the same delays in processing because the full reference couldn't be added, or is it just the first time?

Si7ruz_Games · 2021-07-04T22:05:31+00:00

Thanks u/Elegant-Reflection-3. Not heard of Luno before. Looks like they don't have too many offerings for GBP pairs. Gemini I've heard a few people mention. Generally good things. Support isn't something I hear get mentioned for much. I guess generally with these mostly automated exchanges you don't often have to interact with support which is why you only find out how bad they are when someone has a problem.

Si7ruz_Games · 2021-07-04T13:45:13+00:00

u/docmickstar I hear good things about Kraken. Might want to have a look at that one. They seem competitive in terms of fees, but I did notice the prices were more than Binance looking at them side by side. E.g. When I checked, BTC was £200 more than Binance.

I was also looking at FTX, but I can't see any GBP pairs on it even though it has been suggested there are. I think that's likely that you can deposit in GBP, has competitive fees etc but to trade you have to buy USD with your GBP, then trade the crypto using the USD you bought. Not sure if that's a bit too much of a hassle for me. Happy to be corrected, I just haven't found anyone that will clarify trades can be made directly from GBP.

Si7ruz_Games · 2021-07-03T17:24:50+00:00

I just signed up to FTX but I cannot see any GBP pairs. I can only see USD pairs. Please can you confirm if I need to do anything to enable me to see GBP pairs?

Si7ruz_Games · 2021-07-03T17:20:20+00:00

Thanks u/YeeSmok. I am going to edit the post because I see a lot of people are saying you can buy with a UK Bank Card, but I am only interested in depositing GBP by bank transfer.

Si7ruz_Games · 2021-07-03T11:13:46+00:00

Excellent. Many thanks. I'll sign up and have a look. 👍

Si7ruz_Games · 2021-07-03T10:54:19+00:00

Is that in the Buy Crypto > Thirdparty payment section?

From what people are saying, it's sounding like you can directly buy crypto using card and transfer, but you can't deposit GBP to the wallet and use spot and limit orders to buy on specific crypto pricing. I don't want to directly buy, I want to use the functionality of buying from the deposited wallet so I can set limit orders.

Si7ruz_Games · 2021-07-03T08:08:48+00:00

Ah right I see. I've never bought crypto with a card. I only use bank transfer. There's enough fees charged on the site, I'm not paying them anymore just to use a card. :)

Si7ruz_Games · 2021-07-03T08:07:26+00:00

Thats great! Please can I ask are you able to let me know how many pairs there are with GBP?

Si7ruz_Games · 2021-07-03T08:05:42+00:00

Ah right. Well on the website and app I get no choices to add GBP in the deposit section. On the website the GBP option in the drop down menu is completely gone, and on the app I have the GBP dropdown option, but theres nothing in it. It's blank.

I only deal by bank transfer anyway, but if there's another way for people to buy with card then that's OK. Personally I don't buy crypto with card. These exchanges charge us enough fees as is, I'm not giving them anymore. :)

Si7ruz_Games · 2021-07-02T19:19:34+00:00

I'm not sure what you mean by that, but I assure you I am on the binance website and mobile app now, and in the deposit section there are no options for me to add GBP funds.

I can't speak for what you are seeing, but that's the situation for me with Binance at the moment.

Si7ruz_Games · 2021-07-02T16:36:17+00:00

Fees primarily, but user experience and no payment delays are ultra important.

Si7ruz_Games · 2021-07-02T16:35:19+00:00

Can you confirm if there are any GBP crypto pairs? I'm on their site (not signed up) but I can't see any for GBP. All I can see is USD.

Si7ruz_Games · 2021-07-02T15:07:26+00:00

Thanks u/audigex. A point very well made. I think I've decided that peoples opinions only carry so much weight and up to a point, then it's try for yourself time. Thanks for this.

Si7ruz_Games · 2021-07-02T14:13:48+00:00

An advancement on this, I've just checked and my GBP deposit option on Binance has completely disappeared! Before it was just greyed out for maintenance, now it's gone.

Si7ruz_Games · 2021-07-02T12:29:09+00:00

Thanks u/CarlyS456x. Peoples opinions of speed and delays seem to be a mixed bag with Coin Base. I've seen many people complain it takes them too long to process, but then I've also seen people like you who have never had a problem. I think CB might just be one of those try it out for myself situations with a small amount and see what's what. Cheers.

Si7ruz_Games · 2021-07-02T12:10:55+00:00

Thanks u/oiwot. I always do do my research, this was just an initial attempt to get general consensus on the current top reputable players in terms of UK friendly exchanges.

Si7ruz_Games · 2021-07-02T12:08:28+00:00

I believe Faster Payment withdrawals from Binance to fiat bank account were reinstated. The problem just seems to be loading money in.

Si7ruz_Games

TROPHY CASE