Coinbase Announce Quicker UK Payments – Deposit – Withdraw ter GBP Instead Of EUR!
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Mar 14 Coinbase Announce Swifter UK Payments – Deposit & Withdraw ter GBP Instead Of EUR!
When compared to America and parts of Europe – the UK has a difficult time coming in the crypto space.
Most of my fellow Brits will have taken this route:
- Stir GBP from Canap to Revolut (a banking app which converts GBP to EUR for free)
- Budge EUR from Revolut to Coinbase
- Stir EUR from Coinbase to GDAX
- Buy Bitcoin with EUR
If you want to buy anything other than Bitcoin, Ethereum, Litecoin, or Bitcoin Contant – you then have to send your cryptocurrency to another exchange because no other exchange supports GBP.
This barrier of entry scares away fresh UK investors. None of us want to go through the faff of converting inbetween GBP to EUR. It’s an toegevoegd task ter an already confusing process.
This is how most of us inject the market without paying ridiculous fees. Some banks support EUR, but mine doesn’t and I’m sure lots of people are te the same boat.
Better Protection & Quicker Payments
If your canap supports EUR, you still love numerous benefits. Coinbase has received an e-money license from the UK’s Financial Conduct Authroity (FCA). This means they are strenuously regulated and monitored, which provides more protection to UK users.
Coinbase are now under the operational standards of other regulated financial institutions ter the UK. Clients funds will now be separated from Coinbase’s funds and stored ter separate handelsbank accounts. A step ter the right direction.
Ter order to withdraw your money, you have to go after all the steps mentioned above – rearwards. That’s a loterijlot of steps which slow everything down.
When Coinbase rolls out the Swifter Payments Scheme te a few weeks, here’s how it will go down:
- Deposit GBP onto Coinbase
- Budge GBP from Coinbase to GDAX
- Buy Bitcoin with GBP
Much simpler, swifter, and less intimidating. The familiarity of using GBP – spil well spil removing a step ter the process – puts smiles all round.
Everything is becoming more safe and secure for UK users.
They are presently testing this service with select users – expect it to roll out to everybody overheen the next few weeks.
While the UK is late to the party, wij’re catching up and 2018 will see more incredible growth.
When Coinbase opened up its services to European users ter 2014, the adoption rate exploded. More people than everzwijn embarked coming in the crypto space.
Ter 2018, Europe grew two times swifter than any other market – guess where a large majority of fresh investors came from? The UK.
Coinbase is a contender for the best cryptcourrency exchange due to their effortless to use verhoging and customer care. They hold a loterijlot of the ‘firsts’ ter the crypto space. Introducing Swifter GBP Payments is one of them.
I wonder how Brexit will affect this – what are your thoughts?
Ask any questions down below! What’s your practice with Coinbase & GDAX?