Pro Crypto Banks & Those to AVOID!! 😡
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- Опубликовано: 8 сен 2024
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⏰ Time Stamps ⏰
1:53 Cryptos Problem With Banks
3:41 Why Do You Need A Crypto Friendly Bank?
5:19 Country Bans & Banking Restrictions
7:31 Chime Bank
9:25 Fidor bank
10:39 LHV Bank
13:00 Revolut
15:59 Banks To Avoid When Buying Crypto
16:55 Hint & Tips To Avoid Bank Freezes
18:42 The Latest Crypto Banking Updates
20:36 Final Thoughts
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🏦 Open A Crypto Friendly Account 🏦
► Revolut Account 👉 www.revolut.co...
► 🇺🇸 Chime Bank: www.chime.com
► 🇩🇪 Fidor Bank: www.fidor.de
► 🌍 LHV Bank: www.lhv.ee/en
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📝 Overview 📝
The internet is littered with horror stories of regular people like me and you buying cryptocurrency and having their bank account shut down. So, which banks are crypto friendly and which countries completely ban buying crypto with a bank account? I go through all that and more in this video.
🦹♂️ Banks Are The Real Criminals 🦹♂️
Why do banks take issue with people buying crypto? Well, they often use the excuse that crypto might be used for criminal activity and money laundering. That’s a bit rich given that the likes of Danske Bank got caught laundering $234 billion. Also, it’s not as if USD and Euros aren’t used by criminals.
🏧 Why Get A Crypto Friendly Account? 🏧
Many people on the internet have reported banks randomly freezing or shutting down their accounts for merely buying Bitcoin on Coinbase. So, getting a backup crypto friendly account might be a good idea.
🌍 Country Bans & Banking Restrictions 🌍
The following countries have outright banned crypto: Algeria, Egypt, Morocco, Bolivia, Ecuador, Nepal and Pakistan.
Countries with varying levels of banking restrictions: Russia, Saudi Arabia, Jordan, Iran, Bangladesh, China, Taiwan, Cambodia, Indonesia and Vietnam.
4️⃣ Chime Bank 4️⃣
This online bank serves US customers only and you can manage all your banking through the Chime banking app. You can also get your hands on a physical Visa card, absolutely free of charge.
So how is this bank crypto friendly? Well, they have a direct integration with the crypto marketplace Paxful, which is a marketplace allowing people to buy and sell crypto.
🥉 Fidor Bank 🥉
This digital only bank serves the German market. They actually work in partnership with the Kraken and Bitcoin.de exchanges, with integration for near instant Fidor-to-Fidor deposits and withdrawals.
The bank has also historically actively sought business from ICOs and crypto exchanges.
🥈 LHV Bank 🥈
This banking option is only really worthwhile if you are an entrepreneur or crypto highroller. If that’s you, then the good news is that you don’t have to be an Estonian citizen to bank here and can open up an account with an Estonian e-residency card.
They bank Coinbase so this means that they are happy dealing with cryptocurrency.
🥇 Revolut 🥇
This is a digital only banking app that also allows you to link a Visa card to your account. Revolut have established a reputation for low fees, flexibility and progressiveness.
All that is showcased in their account creation progress. All you need to do is download the app, register and take a photo of yourself and your valid ID.
One cool feature of the Revolut app is that you can hold 29 different currencies and you can actually buy or sell cryptos like Bitcoin, XRP, Ethereum, Litecoin and BCH.
However, there is one downside, you cannot withdraw your crypto from the app. So, if you want to hold your coins, then you're going to have to use Revolut to buy Bitcoin on the likes of Coinbase.
🛑 Banks To Avoid 🛑
From my research, it seems that TD Bank, Bank of America, Citigroup and PNC Bank are all ones to avoid if you are wanting to buy crypto.
For those based in the UK, you should know that Lloyds, Nationwide and Virgin Money have all banned crypto credit card purchases.
📰 Banking News + Tips & Tricks 📰
I’m afraid you’re going to have to watch the video for those pearls of wisdom.
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📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome.
#crypto #bitcoin #btc #banks #revolut #trading
Hey Guys! Hope you find the video useful. Just to mention that I know the crypto on Revolut is can't be withdrawn but I mention that in the video. It was just a passing comment. The real value is in having an account that can send / receive funds from an exchange like Coinbase / Binance. Some Revolut users say that buying crypto with the Revolut card is difficult but tbh, you should not be buying with the card anyways (massive payment processing fees at the exchanges). Revolut is great for wiring funds (ACH, SEPA, Swift) to the exchanges. Many of my mates do this with no problem.
Some other people have suggested I take a look into Bitwala which I will be doing this week. I will do a followup vid in the next 2 months or so that looks at banks in more countries. Oh, and because some people still ask - if I don't say something is sponsored then it is not. RUclipsrs have to be completely transparent upfront. This was just a general interest video for you guys 😉
Oh yeah - if you want to keep up to date with my trades and market thoughts - don't forget to jump into my TG Channel or Follow us on Twitter!
t.me/cbinsider
twitter.com/coinbureau
Having a hard time connecting revolut to my crypt.com fiat wallet. Anyone able to do that?
what about Caleb and Brown? would love you review on it... they are brokers maybe off topic but maybe thats a topic for a new video? i dont think there are similar services around and frankly i am contemplating using it. thanks man, cheers
I use Monzo for Bank Transfers to and from Coinbase or for Card Payments to Buy Crypto almost anywhere. Revolut only for Euro Transfers to and from CB in the past but now since CB supports FasterPayments in the UK I no longer use it . BarclayCard seems to work also. Avoid Nationwide Bank like the plague, they closed my account without any warning 2 years ago!! Since then I only use Starling Bank for my main personal banking account and keep Monzo for Crypto transactions.
@@errolsamuels1619 Trouble is you can deposit a max £1000 in 6 months!!!!! That's sheitte. I need to deposit that per day. Perfectly legally and FCA approved, any ideas? I'll pay a reward for a solution.
Oh nice, thanks dude I actually have Revolut downloaded already. good to hear its well received
This is the most informative crypto channel on RUclips. Empirical evidence and objective analyses galore. Keep up the good work man.
Thanks man! Glad you like it and much more to come.
Please can you do an update on this. Especially for the UK. Thanks! Keep up the good work mate.
I would like to avoid banks at all costs!
That’s the dream Gustavo. I have little doubt that crypto will make banks obsolete one day. What a day that will be 🥳
Gustavo you may find Haven protocol (XHV) of interest. It’s the first private stable coin and offshore crypto wallet
This needs updating, Guy, what with the fairly recent HSBC leading the charge against crypto?
Haha Danske Bank is a big joke here in DK! They do money laundering, but they won't accept crypto gains from investors!
Can confirm the BoA is shit. Opened an account and within 2 weeks they close my account claiming I was involved in some sort of fraud scheme
Great. Lots of valuable info for anyone interested in buying crypto. My first small purchase of crypto was through Revolut. Shortly after the purchase I realised I did actually own the crypto, oops, I had only bought an 'exposure' to a central pool owned by Revolut! In other words You're just speculating on the price. Luckily for me the price went up a little bit and I sold my exposure at a slight net profit. I've since purchased some crypto on an exchange and transferred it to a hard wallet. If you want a very simple way of purely speculating on the volatility of crypto without owning it, the Revolut product is great. It's also a simple way of trying your hand at currency trading but the spreads are moderate so you'll only be in profit after 4/5% increase and the same with crypto.
Hey Roger, yeah, I completely agree with you. If you want to actually have control over your crypto then it’s certainly best to hop on an exchange and store it in a hardware wallet. Honestly, though, I imagine a ton of people are just interested in speculating on the price and Revolut is pretty ideal for those kinds of guys.
In the UK Standard Bank, Isle of man. They are well into crypto themselves.
Thank you , I’ll look at this bank . I’ll had problems with the Nat west ... the banksters are worried .
avoid all big banks, BoA, WF, Citi, Chase, US bank, Capital One, and PNC…
I didnt know about Fidor and their involvement with Kraken. As a German i found this information very useful and will get a Fidor account now. Thank you!
Great to hear Armin! Yep, if you are based in Germany then I don’t think you can go too far wrong with Fidor. Sadly, I got my account there shutdown when they ran away from the UK.
Great research!Thanks Guy, keep on the good work!!👏🏻
Thanks Arno! I’ll keep them coming mate
While it is regulated in Canada you shouldn't be fooled. I have checked with 5 major banks at this point as I am ironing out how I am going to take profit and every bank so far has blacklisted anything to do with crypto, I cannot even move Canadian dollars from an exchange to an account. So the Canadian government wants to tax me on my gains while I don't have the ability to access them....
I think the BUNQ bank in Holland could be checked. They are the bank of an few Dutch crypto firms
There is also Swissquote, an online Swiss bank which also lets you withdraw the crypto holdings to an external wallet. It lets you buy the top 10 cryptocurrencies directly or transfer money to Kraken and Coinbase with no problem. The fees are quite high though...
Thanks for sharing Marios. Any idea on the fees? I am sure people here would find that super useful. Many thanks in advance for sharing those pearls of wisdom.
@@CoinBureau Congrats on the channel and the great content that you share with us Guy! We also love the way you express yourself! Lol pearls of wisdom are usually your words but thanks for being kind. The fees are 1% (ridiculous, I know) for transactions below €10,000 and 0.75% above €10,000. They drop to 0.5% for larger transactions. Transfer fees for euro balances are flat at €2.
Hello Guy! Im from Ecuador, and actually the Central Bank of Ecuador establishes that cryptocurrencies are a legal asset, but you cannot locally trade it... but that cant be regulated... I can trade it in Binance and is totally legal... ALOT of people in Ecuador mine, buy and trade crypto... Regards!
Yes my bank froze my account for buying crypto "Nationwide" in the UK loads of aggro had to go the the bank branch twice and card cancelled had to wait a week without access to my bank account
Can you please update this video to include your 2021 USA recommendations? Thank you sir.
I have Wells Fargo... Been looking to switch for years. First off.. .They're just trigger happy with their account freezing. I had to stop using my debit card at the farmers market because every week they would freeze it after 3-4 purchases for "suspicious behavior"... Even though it was the same vendors... during the same time of the week... at almost the exact same time of the morning.... for near identical dollar amounts... Super suspicious I know... Ugh...
I tried asking them if they could either make notes or do something to prevent this from happening every week and they pretty much told me flat out no.
But anyway recently had issue with them and coinbase. They locked my account for 24 hours after making a few crypto purchases. I had plenty of money in the account. So yeah I've been looking for alternatives... Thanks for this video. Informative.. and oddly therapeutic knowing I'm not the only one going through this BS.
Hey Grant, you are certainly not alone. I have heard some bad things about Wells Fargo and crypto. Maybe try out Chime Bank and give that one a spin?
Good grief on the farmers market. Fair enough if you were buying a tractor or something there. However, let’s be honest it was most likely a couple of transactions for between $20 and $50 a pop. Super shady…
An updated video would be great given I’ve yet to find any UK bank that is positive on crypto. 👍
Revolut try it
I have to transfer my funds from my HSBC account to my starling business account and then buy on an exchange since hsbc tend to freeze my account every single time.
HSBC are dinosaurs
I've personally had mine frozen 3 times - at least the calls were relatively quick..
Yeah - I wish some of my calls were as quick as yours 🤦♂️
Great presentation! This topic has been longing for attention. Although I'm not UK based, I do keep an account with the Nationwide building society - they've been super fine for me with making transactions.
Great to hear! Can I ask if you used them with Coinbase? If not, which exchange did your transaction go through successfully on? I am sure many people here would be interested in that.
@@CoinBureau Yes, I use them with Coinbase. More than a year ago now perhaps 2017 since setting up, took the better part of 3 months as a I recall. All that being said, withdrawals from CB to NW take seconds to be cleared.
Me too: couldn’t use Lloyds or Santander or credit card, but Nationwide debit card was fine funding Coinbase.
Great content, very well done. Most old fashioned banks are exactly that, old fashioned and inflexible to ther standards. It´s also a thing of where in the world you live. e.g. just had a conversation that the Coinbase move makes people want to quit CB but it´s hard to find something similar - Kraken and Gemini can´t compete at this point
Thanks for the appreciation mate. Yep, the best option to get into crypto will certainly depend on where in the world you are based.
What can Kraken and Gemini not compete on? Liquidity?
What coinbase move are you talking about?
At least when you called the bank you can get someone to answer the phone and help you with your account good luck with that with crypto
We really need an update on this. Who can we (non-US, non-European) create an international bank account and transfer our binance gains to that account and use it through a Debit card.
@coinBureau
I’m new to trading and I don’t understand how it really works.can someone guide me on the right approach to investing and making profit from crypto trading?
I’ll suggest you do proper research before going into trades, or you can simply invest with a pro who already understands the market
The mistake newbies make is rushing into trading without adequate knowledge of professional guide
Recently started the crypto market and I have been earning greatly from it, although I’m able to achieve that by investing with JAMES PATRICIA a FINRA regulated broker
I came across this name while reading an article on CNBC, but I wasn’t given much information about her. Could you pass along her info because I would love to try out her service for myself
JAMES PATRICIA is really doing a lot of people a genuine favor with her expertise I have earned a lot also
I bank with Pima Federal Credit union. Had no problems. My barclays mastercard refuses purchases for crypto.
Guy some of the info about revolut is wong here. I've had a Revolut fro almost a year now and every time I try to purchase crypto with the card on any exchange (coinbase, binance, crypto.com...), it never works. It always says that the merchant is not supported. Not very crypto friendly...
Hey Victor, maybe try and do a wire transfer (SEPA, ACH, Swift). My friends have told me that works fine for them so I suggest giving it a try. Also - exchanges charge an arm and a leg in card processing fees.
It worked to deposit money from Revolut to Crypto. However, my bank will take 2.5€ on e.g.: 100€. So, I just don't use it.
In Algeria even USD you are not allowed to exchange, a black hole for foreign currency
In the USA, I had my Marcus Savings (Goldman Sachs) account locked when trying to ACH transfer to crypto.com. So avoid that one too!
Thanks for sharing Randy. Yep, the vampire squid are at it again! Hopefully this will save a few people from getting their account locked over there.
Yes I experience the same thing with Marcus (goldman sachs)..
Thanks! Great video. Very educational and well produced. You speak so clearly and professionally. I definitely recommend that people subscribe!
I have Revolut account it s great but for me they are not so good crypto : first you can buy BTC ETH XRP but cannot send it to any wallet (as you said); they apply special fees when you want to sell your token specialy during the week end (maybe 2%), you just hold it on your account (in their pocket); then if you want to send money to kraken for example; they have banned it that's make me very angry. Revolut has lot of advantages but i don't trust them for the crypto parts. FYi
If it helps i use Halifax in UK with zero issues to date, been using it to coinbase.
Rbs fine as well
So is Santander
Halifax have been fine for me to - I havent yet withdrawn any large amount. The co-operative on the other hand blocks any buying with debit card.
lloyds too
Great channel Guy. I subscribed yesterday! I find the content very informative and useful. I have loads of questions - where is the best place to look for answers pls?
Hey Bartek, thanks so much for subscribing mate. I actually have a website called CoinBureau.com and you’ll find a ton of really useful information over there. Also, you can just ask questions here if you want too.
How about Wise? It’s not pro Crypto, but they say they don’t refuse payments from crypto platforms.
Very valuable content! Luckily things start changing in some countries. France has voted a law (named “PACTE”) last year that enables blockchain entrepreneurs the right to open a bank account in France and finance the project through an ICO. This right is not 100% guaranteed as banks can still refuse to open an account in case of suspicious activity, but they will need to report the reasons of the refusal to the AMF that will evaluate the case. It is however a first step in the right direction. Maybe we’ll see the same right for retail investors one day!
Thanks for sharing Max. This is super interesting. I guess from a top-level perspective it does make sense to roll something like this out for companies and then look at retail investors later. Then again, it’s our money and l don’t see why a bank should censor how it’s spent.
On Friday my UK Bank prevented me from buying Bitcoin, they said it is a new rule and that they will prevent any future Bitcoin trading.
Is this a new thing that Banksters are doing in the UK to prevent us moving out of Fiat and into alternatives?
Is there a safe option in the UK that we can go through to purchase Bitcoin and other crypto's going forward. I had to buy silver last week instead, but want to be able to find a save accessible Bitcoin source available in the UK, can you or anyone else help?
No Worries, just signed up for Revolut.
In LHV it is possible this year now to buy crypto through their bank.
Thanks for the info, Guy...
Could you re-visit the subject, please...latest rules and news etc.
What doesn't make sense to me, is that HMRC has published how the taxation on Crypto earnings are to be dealt with; so why do we have to trade crypto on a personal level only (like a bunch of pirates...) where businesses need to use the crypto opportunities as well... Why the hindrense from the banks... and how do the merchants accepting crypto deal with their banking???
Had problems with Bank of America today ....
Yeah, I'd like to see an update
This is so eye opening Guy!
My Barclays UK bank Reconcile my account ( took all my money ) for No warning yesterday. And Barclays Bank will not tell me why and I have to wait for the team to call me back. I think because I told them I am buying cryptocurrency with my money.
Brilliant video as always! Very topical as I spent a long time on the phone with my bank today after they put a block on my account
Thanks Alex. Glad you found it useful!
Revolut in UK asked me to disclose all my transaction on Coinbase. They could not clearly explain why. I refused. They blocked my account. On the other hand No issues with Barclays in UK.
That's changed mate, I have been blocked from transferring money to binance, tried last night
I have heard so many disappointing tales about Revolut. A lot of users can't deposit fiat from exchanges to their Revolut account
Rovolut doesn't support Crypto.com. You can't buy. N26 is a good option for buying also! Great job man. My favorite crypto channel ! Please make a review about withdrawal the gains larger than 50k turned into fiat and followed by taxes also the possible problems, proof of money etc. Regards, Paul
Thanks Paul. If you use wires with Revolut it should work - others have had success. Thanks for the suggestion though, that is a great topic which we can explore.
@@CoinBureau wires?? Oh, so you cannot simply transfer money in, say, Euros from a Revolut account to top up a MCO card? That seems strange when they are touting themselves as crypto friendly?
Any updates on banks? Recently I asked my bank that I would like to transfer funds from crypto exchange, they said, it won't be accepted. My next option is to move to the UK or Germany. Any good Banks you would recommend as of 2021?
Good topic 👍 Education is paramount in the crypto space
Couldn't have said it better myself mate 🥳
I have always transferred by SEPA to Coinbase through Societe Generale with absolutely no problems.
Very good, thanks. Can you take a look to the energy markt with EWT, Lition and others? That would be great.
Always enjoy your content.
Hi Guy, great video BUT i want to confirm what other in these comments also have stated. Revolut does not allow you to send money to exchanges or the bank accounts of exchanges. You will get a message " this merchant is not supported". Basically, when it comes to crypto...Revolut wants to get your funds on their platform and then either you buy cryptos via them but which you can not withdraw from their platform, neither can you send your crypto funds/money to other exchanges to buy cryptos that you can withdraw. All in all , a NO GO for cryptos for me...I have good experiences with the N26 account. Keep up the good work!
Revolut does not let you use your card to buy Crypto outside of their app. It's an unsupported transaction. What I do is a bank transfer from Revolut to Coinbase, which takes seconds, or to Crypto.com which arrives the next working day. Annoying you can't move your Revolut crypto to a wallet. Big fan of Revolut though.
Hi Darrell, Thanks for sharing. Yes, I think many people reporting issues with using Revolut to buy crypto on Coinbase are probably using their card. Maybe I should have made that clearer in the video. Revolut bank transfer to Coinbase seems to work in the UK at least. Maybe that is not necessarily the case in other countries. Interested in people sharing their experiences here.
I appreciate the list of both the positive platforms and the no no banks. Quite unfortunate the partnerships with Coinbase though. They aren’t exactly what I would call a “crypto-friendly” exchange.
I’ll level with you, Aaron. I have a love hate relationship with Coinbase. I agree they are not the most friendly option for crypto veterans and I’ve certainly had my share of problems with their support. All that being said, they do make it easy for crypto newcomers to get into crypto… provided it goes without a hitch.
@@CoinBureau That seems to be a common refrain. I know that for adoption to really take hold, the whole process of getting into crypto must be free of complexities. Coinbase certainly was one of the first to do that. So for quite awhile, I was always under the impression that I had no other option to keep things simple. But then once Coinbase banned me (yes, I am one of those unfortunate souls), I had no other choice, so I turned to Gemini - and honestly, I found them to be even easier than Coinbase.
Their fees are dramatically lower, they partner with BlockFi (so you can make fee-free transactions between the two platforms), and the overall account creation and verification process took far less time. Sure, you can't use a credit card unless it is connected with a bank account and they have fewer cryptos available to purchase, but for me (and I would imagine for most retail investors just looking for a fiat-to-crypto onramp) it is an easy and pleasant experience. And I even had the pleasure of dealing with Gemini customer service support on more than one occasion and it was a quick, painless, and personable experience - which is more than I can say for Coinbase and their automated form emails that never yield a real person.
That said, I'm dedicated to converting as many people off of Coinbase as I can and getting them onto Gemini.
My ex address is uk as covid reasons made me have no real address how can i open an account even with any bank as nowhere there for debit card... I am going round in circles...
I've been using RBS in the uk, they did freeze my first few purchases but after talking to their fraud division by phone which is a 24 hour service, once i went through a few security questions it was back up and running that same day.
Great to hear that RBS was reasonable and let you spend your money on how you wished. Anyone else had any experiences with RBS? I’d be interested in hearing about that.
Coin Bureau with a cap/limit of 1k I never had issues with RBS and Coinbase.Not sure what would happen with bigger amounts though.
Can you review Xace and monzo etc
Revolut has been great for Coinbase but not for Kraken, as I've recently discovered. In fact, a number of the other FinTech banks i.e. Monzo, Transferwise are also no good with Kraken.
Excellent! Great - and timely - video. Subscribed to your newsletter and used your link to join crypto.com......although I'm still a bit miffed I cannot transfer fiat from UK bank to it, but perhaps Revolut is the answer. Great stuff.
Hey man, thanks for supporting the channel over there at Crypto.com and subscribing to my newsletter. I hope you are finding that useful.
There are certainly no hard and fast rules when it comes to banks and crypto. However, I would certainly give Revolut a try. It would be great to hear how that works out for you.
Use Starling.
@@stevewaters219 what are it's advantages over Revolut?
@@tonebonetones can't say, I have only used Starling with crypto and it works well for me.
@@stevewaters219 I've read Starling does not allow Crypto purchase, and am fairly sure it don't allow Crypto.com transfers?
Excellent research 👍 .. and the best part of it is tha, i just registered for Revolut 2 weeks back.. so i am advancing in the crypto space and big part of this advancement is because of your work. Thank you 😊
Thanks so much Michael. I do try me best. Great to hear that you are diving into crypto and getting value from my videos. I’ll keep them coming then 😀
Excellent content and information again Guy. Thanks ever so much. I would love to and at anytime contribute towards coinBureau in anyway I can. Keep up the good work...👍
Hey man, thanks for the support mate. I would love the help and if you’d like to contribute then please do hit up my business partner - Tom who helps me out over there at the Bureau. His Telegram is @tomcoinbureau
I’ve just messaged him now to keep an eye out for you.
Thank you
Nordea has blocked every exchange I can find. I'm trying with Revolut, but it has blocked Binance, OKEx and Coinbase as well. Wth
My bank has blocked transactions on most of the Exchanges. But, I can still buy in one or two. (Greece)
I have had 2 bank accounts closed not frozen because of p2p crypto trades
Any advice it's rediculous
It's almost impossible to have incoming p2p crypto payments coming in to your bank without your account being closed
Another great video Guy with investigative results. I have a Revolut card and can’t believe I missed that trick with using it as a FIAT transfer to crypto world. That being said, Barclays do deserve some credit as I’ve had minimal problems with them and they now have their faster payments system linked with coinbase - a lot faster than the old SEPA set up they used to run for UK payments!
Anyone have concerns about crypto.com being HK based, considering recent international tensions with China? I've been steadily transitioning 100% of my salary deposits to them (FDIC protection seems meaningless these days in the US), but my only concern is where they're located. I'd probably feel better if they were in Singapore, for instance.
Crypto.com is based in Singapore
@@mkz2278 No, they are in HK
Yes this happened to me about two months ago. it took me seven phone calls to get my bank account unfrozen and for my transactions to go through.
Banks really are the bane of my existence 🤦♂️
Which bank was this?
my bank just blocked coinbase transactions if you a danish citizen boycott coop bank and their products. worst and the most rude customer service in the world. i hope their bank reach bankruptcy.
My bank blocked me from buying with coinbase even though it looked like the transaction went through. I though I made 3000 when in reality I lost 63 for a bounced check of funds I own.
Seems revolut bank in the UK is not covered under the Financial Services Compensation Scheme. Just so people are aware
my accounts got closed by TSB .......I now use Bitwala for my crypto, and transfer to Bitwala through XE.com so avoiding bank to bank transfers.
Another interesting and informative video Guy. Suggestion for a future video: what will happen to stablecoins next time there is a banking crisis? With collateral held in bank accounts what happens if there are bail-ins? I guess Dai should be OK but which collateralized stablecoins, if any, are structured in such a way as to avoid losing their fiat backing?
Hi Timothy, this is a really interesting suggestion. I guess the key thing is what happens if there is no bail-out. I guess the value of any impacted stable coins should go down and reflect the value of the reserves held.
You’re right though, the way to get around that concern is just to use DAI.
Revolut just shut down my business account for crypto related stuff. They have changed their ToS to say no crypto allowed. I don't know if its because I am in the US or not.
This was a super useful video 🤙. I’ve had problems with Bank of America and M&T Bank.
Glad you enjoyed it. Sorry to hear about the issues with the likes of BoA. Maybe it is worth giving Chime Bank a spin?
@@CoinBureau yeah I definitely think so. I haven’t been thinking about it too much since M&T denied the link with kraken so I’ve just been staking and hodling and haven’t cashed out anything yet. I got into crypto early 2017, put a decent amount of fiat in and watched my money 10x, then watched it go all the way to the bottom LOL, sheesh!
What are your thoughts about MAKER (mkr) , it's out on crypto and will launch on coinbase , so will it's value go up? Please inform about it
I hit the thumbs up just 19 seconds in. You have great topics with great content Guy!
Hey Stevie, Thanks for dropping that turbo like! Are there any topics you would particularly like me to cover? I’m always open to suggestions 😀
Thank you Guy :)
Hi Guy what is maximum number can you withdrew cash from crypto wallet like coinbase and crypto.com to HSBC bank to avoid bank warning ball?
great information, thanks. Does it make a difference if your account is either a personal or a business account?
Yes it makes a difference, don’t rely on your personal account to make crypto transactions because there could be negative consequences such as getting your account froze due to suspicious activity, so just create a account just for crypto
Bank of America just restricted me from funding Bittrex .
Love your channel!
Thank you for another useful information xoxo
Thanks for saying Princess Mononoke. I salute you!
Thanks Guy,thorough and enlightening as always. 👍
No problem Matthew.Glad you liked it.
cointelegraph.com/news/500-estonian-crypto-companies-lose-permits-after-220b-scandal
Colleague had his HSBC account frozen twice. The transaction amounts were not small
Hi Daylan, if he made a large transaction in excess of £10k, then that probably brought up an AML flag. Personally, I split my payments into smaller amounts and have not had any issues so far. Maybe that will work for them.
I would like to start investing I'm crypto but which cryptocurrency would be the one to invest in as there are so many of them.?
Hi there, great and informative videos..
I have a few questions re the Crypto section of the Revolut app, maybe you can shed some light for me. As mentioned I use the Crypto section of the Revolut app that I have a small amount of ETh and XLM. When they go above the amount I deposited I transfer them back to Euros and withdraw them from an ATM. I do this solely all on the Revolut app.. no other banks or wallets.
First of all is it safer then wallets? I'm still a bit new but I'm thinking if someone (like a hacker) gets a hold of your 12 words that's it, your money has gone.. but with Revolut it cannot happen.
Secondly I'm using the Crypto part of the Revolut app to make a little pocket money. Nothing big. But do the local governments know that I'm making this pocket money on the Revolut app.
Thanks in advance and for your videos.
I’m trying to set up a business account for my passive income from strong block..which business account do i set up for this
Which of those mentioned are actually verifiable with Plaid for the top 3 exchanges in the US?
thanks ! there are rumors here in italy of sepa bank transfers not accepted towards coinbase.
Hi Paolo,
Frankly, I am not sure on this as I have never done an Italian bank transfer before. Maybe someone from Italy can chime in here you help validate this?
Good job!!!!👍🏻👍🏻👍🏻👍🏻
Can make video on cartesi project they are promising to build decentralized linux operating system for dapps
I wish I could agree with you in regards to JP Morgan Chase. I attempted to purchase btc, and all of the sudden my account was blocked ( I couldn’t even access my account), and I was informed my account was closed, on top of being banned to ever open an account. Im afraid to even make a purchase with my account, but hate the idea of going to an ATM here in the States. If I use Rovolut (is that what it’s called?) would I be able to use my Wallet, and could I transfer my bank funds to the account? Thanks again for important info!
That's terrifying! You didn't lose money when they closed your account did you? Was the transfer you tried to make a large sum (over $10k)?
Great information 🙌🏼👍🏻
Glad it was helpful!
It's true, I'm living in Cambodia and the only way you can get your hands on some crypto here is through P2P. You also have to pay a premium of 3-4% at the minimum.
Hi Prahna, that 3 or 4% premium kind of sucks. However, I guess if you wanted to sell, you would get that premium back. Also, I imagine most of us believe that BTC will go up in value more than a couple of percent. Sometimes you just have to bite the bullet.
@@CoinBureau It does sucks and it's ultimately a patience game since you don't have any other options. There are just more factors to take into account if ones are to consider investing in cryptocurrency here. Luckily I can afford to hold a long term position but really just getting started myself. And thank you for continuing to pumping out great informative content.
Hi please make a video on how to stake band Protocol... TIA
Hi Guy How about using crypto.com to withdrew cash to Bank in UK like HSBC would it be a problem ?
Can you sell you cryptos from the Revolut app and generate fiat in the revolut app? Cheers.
Where can i buy DADI Edge? Great videos.