Barclays uk binance binance9/12/2023 Which cryptocurrency platforms are generally best for new investors to use? They will either red flag transactions (which means they’ll refuse to execute claiming it’s a suspicious activity) or they just blacklist certain accounts known to be associated with crypto exchanges.” This is unhelpful to those of us who consider we know what to do with our money, or at least we know as much as these banks know (which is not a lot frankly!). ![]() They won’t admit that but that is what I think they’re doing.Ĭrypto trainer and commentator, Gary Nuttall, says “The banks in UK keep reducing the ability for people to buy/sell crypto. Our high street banks are mostly long, long-established organisations that are big and lumbering and find it difficult to change and certainly difficult to keep up with the fast-moving business of ‘Fintech’ (Financial Technology).įrankly, cryptocurrencies are a big threat to them and they are trying to attack the competition by stopping us, their customers, from investing in them. The other thing that is making banks run scared is the fact that crypto companies are genuine competition to them. Many high street banks are now taking it upon themselves to make our decisions for us, for good or ill (mostly ill I consider). You would also think that they could and should allow their customers to sign a declaration that they have weighed up the pros and cons of an investment and can be trusted to make up their own mind and take the consequences.īut no. You would think that they would be able to have a list of operations they have checked out and those they do not trust. However, you would think that banks would have the sense to discriminate between well-established, open platforms and businesses that have been operating for a while and new, fly-by-night operations that have no clear backing. Many of them are using the excitement over cryptocurrencies, and also Forex (foreign currency trading) to lure people into apparent investment opportunities that are actually just complete scams.Īs many, many individuals in the UK have been scammed by these it’s understandable that banks would become worried by the whole sector and act cautiously. There are a LOT of criminals around the world who are trying to get at ordinary people’s money and they have a lot of clever ways of doing it. Why do some banks refuse to transfer money to cryptocurrency platforms?īanks are open about the fact that they have been burned – through their customers – by criminals transferring money from customers’ accounts to dodgy cryptocurrency and other platforms and supposed businesses. How to move money from your bank to a crypto platform if your bank refuses!. ![]() Which cryptocurrency platforms are generally best for new investors to use?.Why do some banks refuse to transfer money to cryptocurrency platforms?.How to transfer money from your bank to a cryptocurrency platform. And that’s what this column is all about. They think they own my money (more on that in future articles) and they think they can beat the encroaching cryptocurrency takeover by refusing to play with these new kids on the block. Then this year, to my dismay, just when the price of Bitcoin plunged and I could see it was a ‘buy’ opportunity, my annoying bank refused to allow me to move MY money into the crypto platform I had been using since 2017. I would just transfer money from my high street bank into the crypto-trading platform of my choice and then get on with buying (very rarely selling) the crypto i was interested in. See our Expanded Rules page for more detailsĬoinMarketCap (Cryptocurrency market cap info)ġ0k.pizza (Portfolio tracking.I have been buying cryptocurrencies since 2017 when it started to get exciting.See our Expanded Rules page for more details about this rule.This includes "PM for referral", asking for referral codes or links, and linking to sites used solely for referral links. Rule #2.10 - Posting referral, promo links, or codes of any kind is strictly prohibited and will be met with a long-term or permanent ban.See our Expanded Rules wiki page for more details about this rule.If you meet our requirements and want custom flair, click here. Please make quality contributions and follow the rules for posting. ![]() This subreddit is intended for open discussions on all subjects related to emerging crypto-currencies or crypto-assets. Be nice to each other! r/CryptoCurrency is a welcoming place for all people and all cryptocurrencies.
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