Buy Bitcoin Cheaply in the UK (2021)

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Want to buy bitcoin without getting ripped off?

Although it’s simple and convenient to buy bitcoin with a debit or credit card, it’s NOT the cheapest way.

There are some exceptions, but most places will charge upwards of 4% in fees when buying bitcoin with a debit or credit card in the UK. That’s 100% unnecessary.

In this guide, I’m going to walk through some popular, well-recommended, and cheaper ways that you can buy bitcoin in the UK.

Remember: I’m not a financial advisor. Read my full disclaimer for more information.

Cheapest Place to Buy Bitcoin in the UK

The cheapest way to buy bitcoin in the UK is to deposit GBP into Coinbase Pro using a UK bank transfer. On this cryptocurrency exchange, you’re able to buy bitcoin at the real exchange rate without paying excessive fees (up to 0.5%). On top of this, it seems to charge lower bitcoin withdrawal fees than I’ve come across elsewhere.

Who is the Cheapest Bitcoin Seller?

When comparing bitcoin sellers in the UK, you’ll need to consider:

  • How close is the asking price to the real BTC to GBP exchange rate?
  • Are there any fees (for depositing, buying, or withdrawing)?
  • Are you purchasing in GBP or EUR?
  • Is there a minimum deposit?

If you don’t ask these questions, you’ll probably end up getting fewer bitcoins (or satoshis) than you otherwise could.

Exchange Rate

The real BTC to GBP exchange rate is the average mid-market rate across popular bitcoin exchanges. It’s also known as the Bitcoin Price Index (BPI or XBP). It’s an honest indication of what the value of 1 bitcoin currently is. You can use tools like this to check the BPI.

When you buy bitcoin from many places, they’ll either:

  • Sell you bitcoin at a rate that doesn’t match the real BTC to GBP rate.
  • Charge you a fixed fee whenever you make a purchase (e.g. 1% of whatever you buy).

Sometimes, it can be a combination of both of these.

Why? That’s their profit margin.

Let’s put this in perspective.

At the time of writing, the real BTC to GBP exchange rate was about £30,000.

If you were buying 1 bitcoin with a debit or credit card through Coinbase, you’d pay a 4% fee – which is about £1200 in fees. Paying such high fees is 100% unnecessary. You’re just throwing money away.

You can quickly compare fees across different places (and their relative % above the BPI) with tools like BittyBot.

Buying Fees

The majority of services charge percentage-based fees, but some do charge fixed-rate fees instead.

Your preference for either depends on how much bitcoin you’re intending to buy.

Consider this example:

  • “Seller A” charges a fixed fee of £20.
  • “Seller B” charges a percentage fee of 2%.

Who should you choose?

PurchaseSeller A: Fixed Fee (£20)Seller B: Percentage Fee (2%)
£10020% of Purchase£2
£1,0002% of Purchase£20
£10,0000.2% of Purchase£200

Your choice of seller depends on how much you’re intending to buy:

  • If you’re buying larger amounts of bitcoin, then fixed-rate fees are usually better.
  • If you’re buying smaller amounts of bitcoin, then percentage-based fees are usually better.
Withdrawal Fees

When you withdraw bitcoin from lots of places, they’ll usually pass on the blockchain fees (i.e. mining fees) to you.

Most of the time, this isn’t a problem. However, sometimes these blockchain fees increase due to congestion on the network (i.e. more demand from people to have their transactions be processed ASAP).

Before you select where you want to buy, check out this site. It estimates the cost of blockchain fees right now. If it’s more than $1.00 – 2.00, then take that into consideration in your choice as some options do not charge withdrawal fees.

GBP or EUR

Some cryptocurrency exchanges don’t accept GBP deposits. If you want to buy bitcoin on these exchanges, you’d need to send EUR instead.

When you do this from a GBP bank account, your bank will handle the GBP to EUR exchange for you. Unfortunately, UK banks will exchange your money at a terrible exchange rate. It’s not uncommon for people to lose more than 5% of their money when exchanging currencies with a UK bank.

To add insult to injury? Some UK banks still charge fees to send EUR with a SEPA transfer. This varies from bank-to-bank. When I last checked, Santander was charging £15 and Barclays was charging £5.

When looking to buy bitcoin, you need to check for these hidden fees. If you don’t, it distorts your impression of what is really the cheapest option.

Cheapest Purchase Options

These are the best options if you’re looking to buy bitcoin in the UK as cheaply as possible.

1. Coinbase Pro

Coinbase Twitter header

Coinbase Pro (previously GDAX) is still one of the cheapest places to buy bitcoin in the UK.

Coinbase Pro was the first major bitcoin exchange to receive an e-money license from the Financial Conduct Authority (FCA). This means Coinbase Pro accept GBP deposits through the UK Faster Payments Service . This means that all UK residents should be able to use a simple UK bank transfer to deposit GBP into Coinbase – without incurring any fees from their bank.

Overview of Option #1
  • Create a Coinbase account and verify your UK bank account.
  • Send GBP via UK bank transfer to Coinbase Pro. My deposits are credited within minutes.
  • Buy bitcoin on the BTC/GBP market at the real exchange rate.
What's the difference between Coinbase and Coinbase Pro?

Coinbase and Coinbase Pro are owned by the same company. When you create a Coinbase account, you’ll be able to use your Coinbase credentials to access Coinbase Pro.

Coinbase is a popular cryptocurrency broker which is intuitive, easy-to-use, and perfect for beginners. You can buy supported cryptocurrencies with a debit card, credit card, and UK bank transfer on Coinbase.

Coinbase Pro is a cryptocurrency exchange targeted at cryptocurrency traders. The fees on Coinbase Pro are lower (up to 0.5%) than on Coinbase (at least 1.5%), but it can be intimidating if you’ve never used something like it before.

In the long-term? It’s worth learning to use Coinbase Pro if you have the time.

But if you don’t have the time, skip down to ‘Option 3’ to find out more about CoinJar (it’s like Coinbase, but with lower fees).

The bottom line?

  • You can now send GBP to Coinbase and it’ll be credited within minutes.
  • You’ll be able to buy bitcoin at the best possible rate and incur barely any fees (0.50%).

Guide

Want to see how it works? Check out these guides.

FYI: All images can be enlarged by clicking them.

Verify Your UK Bank Account
  • (If you don’t already have a Coinbase account, register here)
  • Login to your Coinbase account.
  • Go to: Settings > Linked Accounts
  • Select: Link a New Account

  • Select: UK Bank Account

  • You’ll be asked to enter your UK bank account’s sort code and account number.
  • Once you’ve done that, select: Continue

  • You’ll now see some payment details.
  • To verify the UK bank account, send a small payment (£2) to the details provided.
  • When you’ve completed the payment, select: I’ve Sent It

  • Once Coinbase received this small deposit, your UK bank account will become verified.
    • Although it says it can take up to 2 hours, I’ve had multiple deposits credited in about 30 minutes.
    • You should receive an email when the deposit has been received.

Deposit Funds
  • Go to Coinbase Pro.
  • In the left sidebar, select ‘Deposit’.

  • You’ll see something like this. Select ‘GBP’.

  • You’ll then see this. Select ‘UK Bank Transfer’.

  • Read what you’re shown and select ‘Continue’ when you’re happy.

  • You’ll then be provided with the details you need to send GBP to Coinbase Pro. It’s very important that you include this reference number when you transfer money to Coinbase Pro.
  • It should be to ‘CB PAYMENTS, LTD’ at ‘Clearbank’.

  • When you’ve made the transfer, it should be credited to your Coinbase Pro account within an hour or two. When I tested this recently, my Coinbase Pro deposit was credited in about 1 minute!.
Buy Bitcoin
Coinbase Pro fee structure has recently changed so that there’s no difference between maker and taker fees if you trade less than $50,000 every month.

Market Maker vs Market Taker

market maker is someone who provides liquidity to markets.

This is done when you submit a limit order (buy or sell) on Coinbase Pro (or other cryptocurrency exchanges) that doesn’t immediately fill. These orders sit on the order book and prevent wild fluctuations in cryptocurrency prices. For this reason, market makers are incentivized by reduced fees on most exchanges.

When you submit a market order (buy or sell) on a cryptocurrency exchange that immediately fills, you are a market taker. For this added convenience, you’ll usually pay a slightly higher fee than market makers.

×
Click here to learn more about the difference between a market maker and market taker.

Because of this change, I’ve started to buy bitcoin on Coinbase Pro using market orders. They’re a lot easier and faster to execute.

This might seem a little overwhelming at first. Don’t be discouraged – it’s easier than it appears to get started.

Until you’re comfortable with the process detailed below, consider buying the smallest amount possible. At the time of writing, that’s 0.001 BTC.

  •  In the top left of Coinbase Pro, check that you’re on the BTC-GBP market.
    • If you’re not:
      • Click: Select Market
      • Select BTC-GBP from the drop-down that appears.
  • In the left sidebar, select: Buy > Market
  • Input how much you’d like to buy in GBP.
  • Happy with all the details? Click: Place Buy Order

  • In the open orders section, you’ll see this order appear. As this is a market order, it should immediately show a ‘Filled’ status.
  • Your GBP and BTC balance should also adjust in a few moments in the top left.

Advantages

  • One of the cheapest way to buy bitcoin in the UK (0.5% above the real market rate).
  • Coinbase supports UK bank deposits via Faster Payments Service.
  • Reputable and trusted exchange (holds FCA e-money license).
  • Don’t need to verify identity with multiple companies (just Coinbase).
  • Lower bitcoin withdrawal fees than alternatives like Binance.
  • High limits.

Disadvantages

  • Terrible Trustpilot rating (1.7*, with 4000+ reviews).
  • Coinbase attracts animosity from segments of the crypto-sphere (for good reason).
  • Beginners might struggle with Coinbase Pro’s interface.
Coinbase Website
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2. CoinJar

CoinJar is another option that allows you to cheaply buy bitcoin with GBP via a UK bank transfer.

CoinJar supports Faster Payments, which means that that GBP deposits made with a UK bank transfer should be credited within hours to your CoinJar account.

In my experience, the initial deposit took about 3 hours to be credited – but subsequent deposits were credited within just minutes. This is awesome and what you should expect from a platform that supports Faster Payments, but isn’t the case in some alternative places I’ve tested out (e.g., Crypto.com app).

You’ll be charged nothing to send GBP over to CoinJar, but there is a fixed fee of 1% whenever you buy or sell bitcoin (or any other cryptocurrency).

The BTC to GBP exchange rate you’re quoted is pulled from the CoinJar Exchange, which seems to vary between 0.2% and 0.5% above the real market rate. This means you shouldn’t expect total fees to be higher than about 1.5% when buying bitcoin with CoinJar (but it’s usually less).

Overview of Option #2
  • Create a CoinJar account.
  • Deposit GBP (via UK bank transfer) to your CoinJar GBP wallet.
  • The first deposit you make will usually take a little longer. Thereafter, your deposits should be credited within minutes to your CoinJar balance.
  • Buy bitcoin with funds in your GBP wallet with low fees (between 1% and 1.5%)

Although it’s more complex to use, you could also use the CoinJar Exchange. This is similar to Coinbase Pro and is made for more experienced users.

The advantage of using this is that you’ll pay maximum fees of just 0.2% when buying bitcoin with GBP. When you get a CoinJar account, you’ll automatically get access to the CoinJar Exchange.

Advantages

  • Simple, quick, and convenient.
  • Low buying fees (between 1% and 1.5%).
  • After your initial deposit, GBP should be credited within minutes.
  • Available via browser, but also has an easy-to-use mobile app.
  • Lower fees available on the CoinJar Exchange (max 0.2%).
  • Can also instantly buy bitcoin using a debit or credit card (2% + variable fee).

Disadvantages

  • You will need to pay a dynamic fee to withdraw bitcoin to your own wallet.
  • No fee to withdraw GBP to your bank account.
CoinJar WebsiteCoinJar Review
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3. OTC Services

Solidi homepage
Solidi is one popular OTC option in the UK.

Your third best option is to buy bitcoin through over-the-counter (OTC) services with a GBP UK bank transfer.

The table below shows the most popular and well-recommended options in the UK.

Name Type Review
Localbitcoins Peer-to-Peer (P2P) Markets
Paxful Peer-to-Peer (P2P) Markets Paxful Review
Luno Cryptocurrency Brokers Luno Review
BC Bitcoin Cryptocurrency Brokers BC Bitcoin Review
Solidi Cryptocurrency Brokers Solidi Review
Bittylicious Cryptocurrency Brokers Bittylicious Review
CoinBurp Cryptocurrency Brokers CoinBurp Review

While you won’t get the best possible price when using these options, they are still quite competitive. Most of these options are usually selling bitcoin at rates which are no more than 2% above the real BTC to GBP exchange rate.

This is still better than many options recommended across YouTube, Reddit, and other websites. (For example, Coinmama charges you 5.9% in fees when buying bitcoin.)

Advantages

  • Convenient, quick, and easy way to buy bitcoin in the UK (with GBP).
  • Competitive prices (usually about 2 – 3% above the real exchange rate).
  • Reputable and well-recommended, with (usually) better support than cryptocurrency exchanges.

Disadvantages

  • You’ll need to verify your identity (ID, bank card, and maybe more).
  • Bitcoin prices will be above the real BTC to GBP exchange rate.
  • Many options pass on blockchain fees to you (which can get high).
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4. Revolut Route

Revolut black logo

Since mid-2017, this was a popular workaround used by UK residents to buy bitcoin as cheaply as possible. It was necessary as many cryptocurrency exchanges, like Coinbase Pro and Bitstamp, didn’t accept GBP deposits via a UK bank transfer.

In 2021, it’s not necessary to jump through all of these hoops to buy bitcoin cheaply. It is much easier, quicker, and convenient to just use options #1, #2, or #3.

Overview of Option #5
  • Download and create a Revolut account.
  • Create a Coinbase Pro or Bitstamp account.
  • Activate your EUR account in Revolut (full instructions below).
  • Deposit GBP into your Revolut account’s GBP wallet.
  • Exchange GBP for EUR in Revolut (at the real exchange rate, instantly).
  • Transfer EUR from Revolut account to Coinbase Pro or Bitstamp.
  • Buy bitcoin on the BTC/EUR market at the best possible rate.

Guide

Add & Activate EUR Account
  1. Add EUR account in Revolut:
    • Select:
      • More (in bottom bar).
      • Profile (in top bar).
      • Account Details.
      • Add Account’
      • Search for EUR and tap on it.
  2. Activate your EUR account in Revolut.
    • Select:
      • More (in bottom bar).
      • Profile (in top bar).
      • Account Details.
      • EUR.
      • Activate.
    • Details should populate, with the beneficiary (your name), IBAN, and BIC.
Get Deposit Details

1) On Bitstamp, click ‘Deposit’ at the top of the page.

2) Select ‘EU Bank (SEPA)’ in the left navigation bar.

3) A warning will pop-up.

  • This will ask you to confirm that the transfer is coming from an account in your name.
  • As long as you’ve activated your Revolut EUR account (see above for instructions), you shouldn’t have a problem.

4) Enter some details about the transfer, then click ‘Deposit’.

  • Confirm the first and last name on your Revolut EUR account.
    • You can check this by:
      • Swiping to EUR on the Revolut dashboard.
      • Clicking on your EUR balance.
      • Scrolling down.
  • Under ‘Account Balance’, select ‘Euro’.
  • Under ‘Amount’, enter how much you wish to deposit.

5) You’ll now see the deposit details.

Add Beneficiary in Revolut

With these deposit details, you’ll need to create a new beneficiary in Revolut.

To add a new beneficiary:

  • Open Revolut and select ‘Payments’ (middle of the bottom bar)
  • Select: ‘Bank Transfer’

  • Select: ‘Add a new beneficiary’

  • Select ‘To a business’ as the transfer type.

  • Select ‘United Kingdom’ and ‘Euro’.

  • Fill in the deposit details shown on Bitstamp or Coinbase Pro.
  • When you’re happy, select ‘Add beneficiary’.

  • Great! You should see something like this.

Transfer EUR to Coinbase Exchange
  • When you’re ready to make the EUR deposit into the cryptocurrency exchange, select this new beneficiary.

  • Input the desired amount and make sure that you enter your reference number in the highlighted area.
  • If you don’t add the reference, your payment might be delayed or rejected. If that happens, you might also pay a fee.
  • The screenshot shows the confirmation as ‘Split Bill’. Bit strange, but it still processes as normal.

  • It’ll usually be credited in 1-2 business day, but can take longer.

Advantages

  • Cheap way to buy bitcoin in the UK (about 0.5% in fees).
  • Revolut allows you to exchange currencies at the real exchange rate, with no fees for the first £1000 exchanges every month.
  • Frequently well-recommended in /r/BitcoinUK threads if you’re having problems with your main bank provider.

Disadvantages

  • Send, spend, withdraw, and exchange (in a non-GBP currency) the first £1000 FREE every month. After that, you’ll pay a 0.5% fee for cross-currency transactions (Source).
  • Revolut charges a 0.5% fee if you exchange currencies on a weekend.
  • Transferring EUR to a cryptocurrency exchange can take up to 48 hours (but usually less).
  • SEPA transfers are only processed on weekdays. If you send EUR on a weekend, it won’t be processed until Monday.
  • No desktop version of Revolut is available.

Revolut FAQ

Here are some of the most frequently asked questions about using this route to buy bitcoin in the UK.

Error: Beneficiary not allowed

You might receive the error “Beneficiary not allowed” when attempting to add a cryptocurrency exchange, such as Coinbase or Bitstamp, as a beneficiary (i.e., payment recipient) in Revolut.

This can be resolved by activating your personal EURO account inside Revolut beforehand.

To do so, follow these steps:

  1. Open the Revolut app.
  2. On the Revolut home screen, click the small icon in the top left corner of the screen (Accounts).
  3. Select EUR account.
  4. Select ‘Activate’.

Alternatively: Follow the instructions in this post.

Once you’ve activated your personal Euro account, you should be able to add exchanges like Coinbase and Bitstamp as beneficiaries without issue.

If this doesn’t resolve your issue, try uninstalling and re-downloading the Revolut app. Failing that, contact their support in-app to troubleshoot the issue.

Can I withdraw from Coinbase Pro to Revolut?

Yes, check out my ‘Sell Bitcoin UK Guide‘. You’ll have to pay a €0.15 fee when withdrawing from Coinbase Pro and a €3 fee when withdrawing from Bitstamp.

Here’s how you add your Revolut EURO accounts:

  • Coinbase Pro
    • Go to Coinbase
    • Select ‘Settings’
    • Select ‘Payment Methods’
    • Select ‘+ Add Payment Method’
    • Add details of Revolut EURO accounts
  • Bitstamp
    • Go to Bitstamp
    • In the top right, select ‘Withdrawal’
    • In the left-pane, select ‘EU Bank (SEPA)’
    • Put in details of Revolut EURO accounts
Can I withdraw euros from Kraken to Revolut?

Nope (as of January 2020).

People were previously routing payments through Fire.com accounts (e.g., Kraken > Fire.com > Revolut). But that’s no longer possible either.

Here’s an excerpt from an email I received from Fire.com on 12th February 2019:

“We are writing to all of our customers to advise that we will no longer support payments to/from cryptocurrency exchanges. This change will take effect immediately. Any payments connected to cryptocurrency exchanges will be unsuccessful and the funds will be returned to the sending account.” – Fire.com

Monzo and Transferwise don’t work either. See this thread for more details.

Does Revolut have funding limits?

Once you’ve completed Revolut’s ID verification, you can check your annual funding limit in the app:

  1. Open the Revolut app.
  2. In the bottom right corner, select ‘More’.
  3. At the top of the app, select ‘Profile’.
  4. Select ‘Verification & Limits’.

On this page, it shows your annual limit and how much you’ve used of that allowance so far. My annual limit is set to £25,000 (but yours might be different). You can increase this limit by submitting additional information to customer support.

From the Revolut FAQ (here), it also notes that:

If you’re making a transfer in GBP in or out of your Revolut account there are daily and weekly limits. The daily limit is £75,000 combined, meaning that you cannot transfer more than £75,000 in or out of the account per 24 hours. The weekly limit is £125,000 combined. If you attempt to make a transfer larger than this amount, it will be automatically rejected by our payment processor.

How can I check how much of the monthly free foreign exchange allowance I've used?

Follow these steps:

  1. Open the Revolut app.
  2. In the bottom right corner, select ‘More’.
  3. At the top of the app, select ‘Profile’.
  4. Select the option labelled ‘Price plan’.

This page shows how much of your free monthly exchange rate you’ve used (under ‘FX transactions’).

If you expect to regularly go over your monthly £5000 foreign exchange transaction allowance, consider Revolut Premium.

Hypothetical: What happens if Revolut block payments to cryptocurrency exchanges in the future?

In late 2017, some /r/BitcoinUK users thought Revolut would stop allowing payments to Coinbase Pro (and other cryptocurrency exchanges) once they started supporting cryptocurrency speculation via their app. Their in-app cryptocurrency support sucks (read more about that here) and hasn’t happened (yet).

Even if that does happen, UK residents have more options in 2021 than back in 2017. Check out this post, where I rank the best ways to buy bitcoin in the UK.

I don't want to (or can't) use Revolut. What other routes can I take?

In 2021, UK residents now have more places where they can buy and sell bitcoin (at good rates) than ever before.

Check out this list of the best ways to buy bitcoin in the UK.

Can't find what you're looking for?

If you can’t find what you’re looking for, check out:

Alternatively? Let me know in the comments section at the end of this post or tweet me.

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What’s the Cheapest Place to Buy Bitcoin?

If you are looking at who offers the lowest overall fees, then Coinbase Pro seems like the winner.

Here’s why:

  • You can deposit GBP with a UK bank transfer without paying any fees.
  • You can buy bitcoin at the real exchange rate, with maximum fees of 0.5%.
  • After your initial deposit, money sent via a UK bank transfer seems to be credited within minutes.
  • It charges low bitcoin withdrawal fees compared to alternatives (when I checked, it cost just £1).

What if you don’t want to use Coinbase Pro?

The other options I’ve mentioned are still competitive. In fact, the marketplace is only becoming more competitive – which is great for us!

For instance, CoinJar (listed in option #2) seems like a good option for beginners:

  • Accessible via browser and an easy-to-use mobile app.
  • Register and get verified quickly.
  • Supports UK bank transfers (via Faster Payments). After your initial deposit, GBP I send to them is credited within minutes.
  • Charges a fixed fee of 1% and a variable fee between 0.2% and 0.5% when buying or selling bitcoin.
  • If you prefer, you can also instantly buy all supported cryptocurrencies with a debit or credit card (2% + variable fee).

What Next?

Hardware wallets aren’t mandatory, but they are popular and well-recommended across the crypto-community.

Hardware wallets are small USB devices that help keep your hard-earned cryptocurrency secure.

I’ve reviewed nearly every hardware wallet on the market. Without a doubt, I think the Ledger Nano X is the best cryptocurrency hardware wallet that is currently available.

It’s reasonably priced, extremely easy to setup and use, and is Bluetooth enabled too (so you kind of use it on-the-go if you want). Check out my recent review to learn more about the Ledger Nano X.

Looking for something a little different?

Check out my quick rundown of the best hardware wallets on the market.

Have a Question?

Have a problem you can’t solve? Or a question you can’t find an answer to?

Comment below and let me know! I usually respond within 24-48 hours.

Anything to Add?

Thanks for reading this guide to cheaply buying bitcoin in the UK! I hope you found it useful.

Did I miss something? Or do you want to share something?

Let me know in the comments below or tweet me.

77 thoughts on “Buy Bitcoin Cheaply in the UK (2021)”

    • Sorry to hear you’re having an issue, Deya.

      I’ve received a few similar reports from UK residents who are signing up to Coinbase. I would double-check that you’re fully verified and, if it’s still not showing up, you could try to resolve it with their support team. Probably easier to just take your business elsewhere, though.

      Reply
  1. Hi Dean,
    Assistance please.
    I opened a Coinbase pro account but as I have GBP deposits I have had to deposit via my coinbase account.
    I sent £100 first to check. That arrived fine but I was unable to attempt a purchase as the £100 was too small.
    I transferred £10,000. I attempted to transfer all the £10,100 to coinbase pro to buy. The funds moved out of coinbase into a deferred portfolio.
    I cannot find guidance on how to move that from the deferred portfolio into my coinbase pro account
    Assistance please.
    Thanks K

    Reply
    • Hi Karene!

      Not sure what’s going on here.

      The minimum purchase amount is 0.001 BTC on Coinbase Pro, which is about £40 at the time of writing. This means that you shouldn’t have any problem making a £100 purchase on Coinbase Pro.

      If you’ve somehow got a second portfolio on Coinbase Pro, then you can toggle between them by clicking the dropdown in the top-left of the Coinbase Pro dashboard. You can also move funds between portfolios:

      • Select ‘Portfolios’ in the top right on the Coinbase Pro dashboard
      • Select the portfolio you want to move the funds to (e.g., Default Portfolio).
      • Select ‘Deposit’.
      • Find and select the currency you want to move into this portfolio (e.g., GBP).
      • Select ‘Coinbase Pro Portfolio’ and then confirm how much you want to move between the portfolios.

      Let me know if this helps!

      Reply
  2. Hi, great review thanks.

    Wondered if you can shed some light on why I was charged such a high rate buying through Crypto.com. This hopefully will also act as a warning for others.

    Deposited £10,000 via bank transfer from U.K. bank to Crypto.com buying part BIT, part ETH. I was charged a massive £ 317.00 in fees.

    I had checked beforehand and they advertise no fees for a bank transfer. Despite multiple requests querying this I still have had no response.

    As I do not intend to trade coins, literally I am buying to hold ie long term investment into BIT and ETH. Before I transfer any more – which platform is my best option bearing in mind that I would probably need to store the crypto in a wallet? The percentage charge to withdraw crypto to a wallet – does that have a maximum (Binance £15) or could that be % of the final investment ie huge?

    Your help is really welcomed.

    Thanks

    James

    Reply
    • Sorry for the slow reply, James!

      You were previously quoted bitcoin prices that closely mirrored the prices you’d find on popular cryptocurrency exchanges using the Crypto.com app. However, this doesn’t seem to be the case anymore. For bitcoin, I’m now consistently being quoted prices that are more than 1% above the real exchange rate. For other cryptocurrencies I’ve checked so far, that’s also the case. This might explain the fees you’ve been charged.

      You shouldn’t have been charged anything to deposit GBP with a UK bank transfer (prior to then suspending support for GBP). There are no other fees you should have been charged when you made the purchase either.

      Regardless, this significantly impacts how competitive the Crypto.com app is in the UK. I think that Coinbase Pro remains a popular choice in 2021 as you can buy bitcoin and a growing number of other cryptocurrencies with GBP at the real exchange rate without paying high fees (max 0.5%). Coinbase doesn’t have a fixed withdrawal fee. However, I’ve personally found that it’s cheaper to withdraw bitcoin from it than alternatives like Binance – which charges a fixed fee of 0.0005 BTC (approx. £20).

      When withdrawing bitcoin (and other cryptocurrencies), you’ll usually be charged a variable or fixed fee.

      • If the provider charges a variable fee, it’s usually connected to how much congestion there is on the blockchain – and isn’t pinned to an exact amount.
      • Other places charge a fixed fee. These are updated based on network congestion too – but usually much less frequently.

      Hope this helps a little. Thanks for taking the time to comment!

      Reply
    • Thanks for commenting, Marc!

      I’ve just checked on my own account and I’m still able to use UK bank transfers on Coinbase Pro.

      If you head over to this page in your browser, you should be able to add a UK bank account to your account.

      If you can’t, then head over to this page. This should show your account limits and verification level. If it’s not working and you’re not at “Level 2”, then you may need to go through additional verification (there should be something on this page to do it).

      Let me know how it goes!

      Reply
      • hi dean, tried that looks like ai am level two (green tick)
        coinbasePRO asks to transfer funds from coinbase – and coinbase only will allow cc or debit cards. transfered the £2 as per instructions and it got credited back to my account – in and then out… happy to have a call or vc to solve if possible

        Reply
        • Thanks for the update, Marc!

          I’m not sure what’s going on – as you should have access to all payment methods once you’re Level 2 Verified. If you haven’t already, check if it works in a browser on a desktop computer.

          If you’re full verified and it’s still not working, then you’re going to need to contact Coinbase about it.

          Reply
  3. Hi
    FYI, crypto.com now charge 1.49% to buy Bitcoin in UK with either bank account or Ddebit card.
    It’d be good to update the content.
    Thanks!

    Reply
    • Thanks for commenting, Mike!

      I’ve just checked on my account and I’m only seeing this 1.49% fee when you buy with a credit/debit card on Crypto.com.

      Are you trying to buy with GBP deposited with a UK bank transfer? If you do that, it should still be 0%? If not, could you share a screenshot with me?

      Reply
  4. Thanks for the wirex recommendation. I know this site strictly looking at BTC, but naturally a lot of people will use the BTC to buy other coins on other exchanges. When I went to send wirex to tokok, the fee was huge, $9 for $50 worth of crypto.

    Reply
    • Hi PJ,

      Thanks for commenting and letting me know.

      Wirex are just passing along the blockchain fees, which look to have spiked recently. Lots of sites do this and it is an additional cost to consider if you’re looking at the more convenient options (Coinbase Pro does not charge for BTC withdrawals, but they’re likely to be slower).

      I think this is a good point to add into this post!

      Cheers

      Reply
  5. Don’t buy from Wirex. Apart from their admin fee for each transaction there’s also a 3% (well 2.99% to be exact) transaction fee if you pay with a card. Something they don’t tell you about when you are buying. I only found out when I was checking my bank statement. Their bitcoin prices are also a lot higher than elsewhere. Taking all this into consideration it works out you are paying 5-6% fees on each transaction. Buying limits are also ridiculously small even after you have verified your account and bank card

    I have contacted them twice asking about this, but they just never get back to you.

    Avoid

    Reply
    • Hi Jason,

      Thanks for commenting – sucks to hear about these fees.

      Did you use a credit card to make this purchase? Also, when did you make your purchase?

      Cheers,

      Dean

      Reply
      • No I made a debit card payment and I made my purchase about a week ago. Have not been charged before when paying by debit card for Bitcoin at other places. I’ll check with my bank in case it is them who charged me, but not sure why they would charge me as they haven’t when I’ve used it with Coinbase or Cryptopay to pay for Bitcoin.

        UPDATE: Just called my bank and apparently it’s a charge Visa put on all transactions that are in dollars. This is done as I’m in the UK and when purchasing Bitcoin on Wirex it’s paid for in dollars and the transactions fees are for converting it from British Pounds into US dollars. Something to look out for if using Wirex from outside the United States

        Reply
        • Thanks for the reply, Jason!

          This sounds like a foreign transaction fee – but you shouldn’t be paying that.

          I’ve just done a quick transaction to check if this happens to me too (probably won’t know until at least Friday), but can you check that your reference currency (under Preferences > General) is set to GBP? When I initially signed up, this was set to the USD for some reason, so perhaps that’s happened to you too?

          Update: Just checked my bank account and didn’t have any additional fees. As noted above, I think this hit you because you’re set to make USD payments – not GBP.

          Reply
  6. Question:

    I tried to follow your instructions to invest using coinbase pro
    in your guide im at the following section:

    option1: coinbase pro
    “deposit funds”

    the screenshot shows that you can make a bank transfer into a UK bank account with an account number and sort code.

    the thing is, when i click on “deposit” in coinbase pro i am shown a different thing. I am shown the details of an estonian bank with the implication that i need t do a “swift transfer” with a swift account number. the bank is
    “Tartu mnt 2, 10145 Tallinn, Estonia”. my bank didnt allow this to go through , they wanted to check with me first, they are saying that i was about to send my money to an unknown individual investor in estonia , and not to coinbase.

    is this swift transfer safe? are coinbase not allowing normal uk bank transfers into their uk bank account anymore?

    Reply
    • Tom, thanks for commenting and letting me know!

      It looks like something’s changed, as I’m also getting prompted to make a SWIFT transfer too (which is not what we want to do).

      It does look like UK bank transfers are working on Coinbase still. If you deposit into Coinbase.com, you can then transfer GBP between Coinbase and Coinbase Pro (free and instantly).

      To do this:

      – Login to Coinbase.com and select ‘Accounts’
      – Under your GBP wallet, select ‘Deposit’
      – It’ll provide you with a reference number. Make a note of that, then proceed to the next screen
      – It should show you some bank details, which should be Barclays Bank PLC. There should be no mention of a SWIFT code

      Send the GBP via your UK bank and you shouldn’t have any problem. Just in case, consider sending a smaller amount first. My deposits have previously been credited within about 30 minutes.

      – You’ll need to wait for your GBP funds to deposit and clear (which now takes 5 days).
      – When the funds have cleared, head over to Coinbase Pro.
      – Follow the instructions in the ‘Deposit Funds’ dropdown, but go to the ‘Coinbase Wallet’ tab instead.
      – Transfer the GBP from your Coinbase wallet. It should appear in your Coinbase Pro wallet soon after.

      Let me know if this works for you too.

      Edit: You cannot immediately transfer GBP funds from Coinbase to Coinbase Pro. It says as much in this Coinbase help article now. So even though you’ll be able to deposit GBP into Coinbase the above method, you’ll have to wait for the funds to clear (after 5 days) before you’re able to move it to Coinbase Pro. I’ve updated the guide to reflect these changes.

      Reply
  7. Hey guys! There’s a new way to buy and sell Bitcoin that’s just launched in the UK called XCH4NGE. They’re similar to LocalBitcoins, but have sub 5 minute transaction times, corporate banking infrastructure to receive and send payments (keeping your banks happy!), and excellent customer support.

    We’d love to be on the list if you update it, do let me know if you have any questions, comments, etc

    Reply
  8. I’m confused: at the start you say buying through Coinbase is the most expensive, then at the end that Coinbase Pro is the best way!?

    Reply
    • Hey Mr Mint,

      Sorry about that!

      It can be confusing and I need to update this post to make it clearer.

      To quickly explain: Coinbase have different fees for different payment methods. For debit and credit cards, they charge about 4% (which is what I mention at the start). But for purchases made via (GBP) UK bank transfers, they charge just 1.5%. However, Coinbase Pro (connected service, but aimed at different users) charge much lower fees (<0.3%). If you do it right, you can use Coinbase Pro to buy bitcoin at the best possible price.

      Hope that clears it up a little! If not, let me know!

      Reply
      • Hi Dean, is there a reason you don’t include Binance in the review. The transaction fees are the lowest 0.075% if pay fees with binance coin or 0.1% normally and accept UK GBP faster payments deposit with no charge currently. (You do have to make sure you make the order via the exchange though vs the convert button as get charged a higher spread if you do that)

        Reply
        • Thanks for commenting, Rob!

          I’ve been working on a 2021 update that I’ve just pushed out which removes Crypto.com (no longer supporting GBP deposits) and adds Binance.

          The trading fees on Binance are great – even if you didn’t mess around with BNB, you pay just 0.1%. However, the withdrawal fees they charge for bitcoin are quite high – when I checked today, they were £15. In contrast, Coinbase Pro is quoting me just £1 to withdraw my bitcoin balance.

          Thanks for sharing that tidbit about the convert button. However, I just tested it out and I’m not seeing that any additional spread though. Would you mind sharing what you tried converting from and to so I can try to replicate on my side?

          Reply
          • From what I’ve been told by crypto.com, they have ‘temporarily’ removed the GBP fiat wallet so the only way to buy crypto is with a credit/debit card with the 1.49% fee. Apparently there is some issue with the fiat wallet provider and they are working on a new one, but there is no indication as to when the facility to do a 0% simple bank transfer will be reinstated.

          • Hi Alastair,

            Yep, that’s right. I’ve reached out to Crypto.com for details on when we can expect this back.

            For now, you can only use a debit or credit card to buy Bitcoin (BTC) and other cryptocurrencies on it.

  9. Hi there. I’m a little confused about how to transfer funds from Revolut to Coinbase/GDAX

    Your guide says…

    “If you are purchasing through GDAX, don’t try to add Revolut as a bank account in Coinbase. Instead, follow these steps:
    1) Go to ‘Accounts’ in the top bar.
    2) In the left sidebar under ‘Your Accounts’, select ‘Deposit’ under the ‘EUR Wallet’.
    3) Deposit information should then pop-up. Plug these details into Revolut (Pink Transfer Button > To bank account > Add a new beneficiary).”

    When I click on EUR Wallet > Deposit displays a form wanting me to enter my bank account details. From your description, I was expecting Coinbase to give me its own bank account details, which I would then enter into Revolut.

    What should I do? Do I now have to add Revolut as a bank account on Coinbase? What implications does this have?

    Thanks

    Reply
    • Hey Pato,

      You’re right. Something must have changed since I originally wrote the post.

      It might be different as a new user, but give this a try:
      1) Go to Coinbase Pro instead. If you’re already registered on Coinbase, you’ll also have a Coinbase Pro account (you might have to just confirm some details).
      2) In the top right, click the highlighted area in this image
      3) Select BTC/EUR.
      4) In the order form section just below that, select ‘Deposit’.
      5) A new window pops up. You should see the SEPA details.

      If this works, the funds will be deposited straight into Coinbase Pro (which saves you a step).

      If that doesn’t work, let me know and I’ll do some digging.

      Reply
  10. Hi Dean, great articles here! Would you consider adding CoinCorner to the list alongside Solidi etc, please? We’re a UK based bitcoin exchange and have been operating since 2014. We have 130,000+ customers and offer a variety of payment methods. Customer support is also on-hand to help with any queries.

    I can send you an Information Pack via email if you are interested to learn more about us too. 🙂

    Many thanks
    Joanne

    Reply
  11. Thanks Penguin, this is helpful. However, it seems that Revolut has its own crypto exchange / purchase system. I have bought through this as I have a premium account. I was expecting to have to set up a GDAX account, but it did not seem like I had to.

    Are there any issues in using this, or should I still get a separate wallet and keep somewhere else? Apologies if this is a basic question, but I am still a little confused.

    Reply
    • Hey Oliver,

      I wrote this post before Revolut’s in-app cryptocurrency exchange was released, so none of what’s described applies to their in-app exchange.

      The main issue with using Revolut’s in-app cryptocurrency exchange is that they do not allow you to withdraw cryptocurrency from their application. So even if you wanted to withdraw to your own private wallet (which you control), you wouldn’t be able to. This means you have to trust them to look after your cryptocurrency. The buy and sell price is also calculated using Volume Weighted Average Price (VWAP), which essentially means you’re not going to see the ‘real’ price that the market is currently trading at. If you’re just looking to gain some initial exposure to the most popular cryptocurrencies, then this works well – but it isn’t a replacement for buying elsewhere and storing the cryptocurrency in your own wallet. I have a review with some more details here.

      I recently put together a FAQ for beginners (which is aimed at those in the UK) with someone else, which you might find useful too. You can find that here.

      Hope this helps! If you have any more questions, please do ask.

      Reply
  12. Hi, I’m getting an error on Revolut saying “beneficiary not allowed” when trying to transfer from revolut to coinbase/gdax. Anyone had the same issue and know how to get around it?

    Thanks

    Reply
    • Hey,

      Head over to #5: Revolut Route in this post – it should sort you out. Once you have followed those instructions, do give it at least 10 minutes before trying to add Coinbase/GDAX as a beneficiary again.

      Hope this helps!

      Reply
  13. Can confirm that Revolut are not allowing this transfer now. I wonder if it is because they are soon going to offer Bitcoin purchases natively within their app. In which case, bring it on!

    ok scrap that – I hadn’t activated. Just read your FAQ!

    Reply
  14. Nice article! I wondered if you could give advice with my specific situation:

    I used Fidor Bank and Kraken exchange to buy/trade BTC and other alts. I recently sold a lot of my position back to fiat, and am not happy with the amount of Euros I have sitting on the Kraken exchange.

    I can not withdraw back to Fidor as UK account holders are not provided IBAN and BIC numbers.

    I am currently looking in to Revolut, as a means to taking the Euros off the exchange.

    Are there any other methods you would recommend that would not sting me too much on fees/exchange rates.

    Thanks,

    Ben

    Reply
    • Hey Ben,

      I don’t use Kraken anymore, as I just had too many issues with it – so this might not be up-to-date or 100%.

      From what this says, you should be able to withdraw directly from Kraken to Revolut as you’re able to activate a personalised IBAN inside your Revolut EUR account. However, there are contradictory reports on Reddit from Kraken themselves (see here) which say it isn’t possible to go directly to Revolut.

      Setting up a Fire.com personal account (which has a UK and EUR account) might work. I outline the main features of it here (scroll down to question beginning “Hypothetical”) and the process you’d through for buying (which you can just reverse for selling/withdrawing). I’ve seen reports this works, but don’t have links to verify that.

      Alternatively, exchange from EUR to BTC and send your BTC to GDAX. From there, you can withdraw to Revolut, exchange from EUR to GBP (free up £5000/month), transfer to your UK bank, and then make it rain.

      I’ll attempt to verify this information tomorrow if I’m able!

      I’ll reply again when I get an update, but hope that helps for now!

      Reply
    • Just an update to my previous reply.

      I’ve tested going from Kraken to Fire (EUR account), as well as from Kraken to Revolut. Both completed with no issues. If you’re going through Fire.com (EUR), you could then opt for a service like TransferWise which exchanges from EUR to GBP for about 0.5%. As the Fire.com account is in your name (by default), this shouldn’t be an issue.

      If you go through Revolut (because 0% FX transfers are hard to beat), make sure to activate your personal EUR IBAN. You’ll find the instructions in this post if you can’t find it!

      Hope that clarifies/helps.

      Reply
      • I really appreciate the detailed reply, I came across Fire.com after posting the question and have opened an account.

        I am yet to try a withdrawal, but will this coming week.

        I have favourited this invaluable information for future reference, and will certainly link anyone else to it who is in a similar position as I am.

        One further question, what are your favoured exchanges? As well as Kraken I use Bittrex a lot, and Bitfinex and Cryptopia a bit, but wondered if you recommended any others and why.

        Thanks again, GL in the Crypto Space.

        Reply
        • Hey Ben,

          Glad you’ve found the site useful! Happy to help.

          I find myself using Binance more and more. Fees are good and they have a good selection of alts to trade (which is growing fast). They seem well recommended by others, but there are improvements that they still need to make to their platform. For new users with low volume, the verification requirements are low too.

          I use Bittrex (average fees, decent alt selection) when I have to, but stay clear from Bitfinex. I honestly haven’t researched what’s going on with Bitfinex and Tether much, but it doesn’t look good. If you’re interested, dig through some of this person’s tweets.

          Hope this helps and GL too!

          Reply
  15. Hey Penguin,

    Thanks for all the great insight on this thread.

    I’m a futures trader and looking to day trade bitcoin using similar strategies. Problem is I’m totally lost as how to start trading from a fiat account.

    What I hope to do is open a fiat account with one of the bitcoin wallet companies or the exchange itself and deposit say £10k to begin with. Then I’d like to start buying and selling bitcoin from that account.

    Is this even possible to do at this stage, I.e have a segregated fiat currency account whilst you buy and sell bitcoin that you go flat on at the end of the day?

    If so could you kindly recommend a bitcoin company where I can open a GBP account (or USD) and have the ability to trade off the exchange with good execution and low fees?

    Hope this isn’t just a pipe dream at this point in time!

    Thanks in advance!

    Reply
    • Hey Ben,

      Either Coinfloor or CEX might be what you’re looking for. In particular, Coinfloor looks attractive as they don’t have any trading fees – just deposit and withdrawal fees. I haven’t looked in-depth into either of these platforms, so can’t speak or recommend from first-hand experience.

      You didn’t ask, but there are tax implications of cashing in/out of bitcoin in the UK if you go over the tax-free threshold. If you’re interested, I can pass on a few Reddit threads which I have saved.

      If you’re looking for something to track your trades once you get setup, check out this post.

      Hope that helps!

      Reply
  16. Hi,
    Thanks for this guide. I’ve used option 1 and successfully purchased some coin via GDAX.

    I’m based in the UK. I used your referral code to sign up to Coinbase, deposited some EUR into it via my Revolut, then signed in to GDAX, transferred the EUR and purchased some ETH.

    How do you and I benefit from the £10 referral bonus? Coinbase still tells me to add a bank account and verify myself by purchasing some coin via Coinbase. Coinbase doesn’t let me add my EUR revolut account, only my UK one. I then have to transfer €6 minimum to verify, but this will incur costs when transferring from GBP to EUR. How do you suggest we take advantage of the referral bonus?

    Thanks!

    Reply
    • Hey Arjun,

      This should work if you purchase with a debit/credit card for your first purchase with Coinbase (but you will pay 3.99% fees). Otherwise, you could deposit to Coinbase like you did originally – but purchase via Coinbase and not GDAX (as that’s a requirement to get the bonus). You shouldn’t need to add Revolut as a bank account in Coinbase unless you’re trying to sell + withdraw.

      Hope that helps! If you still have issues, let me know and I’ll dig around.

      Reply
  17. Hi Penguin,

    Thanks for your post. It is super helpful and easy to follow…which I will be. What exchanges and wallets would you recommend for buying and storing other altcoins? Apologies in advance if you have written another post on this that I haven’t seen.

    Reply
    • Hey Kieran,

      Glad you liked it!

      For exchanges, I’ve written a brief post here. I can usually find most of the coins I want to buy on either Bittrex or Binance (with Binance being my favourite), but there are some other popular options you could consider.

      The general consensus is that you shouldn’t store funds in online wallets. I answered a question about this recently on Reddit here, which briefly explains why.

      The easiest (and safe) option is to use a hardware wallet, such as the Ledger Nano S or Trezor. Although you can’t create wallets for all cryptocurrencies with these devices, they cover the main ones (Bitcoin, Ethereum + ERC20 tokens, Litecoin, Dash). Compared to the Trezor, Ledger has more altcoin support (with Monero and Neo coming soon). You can buy both from Amazon (Ledger is here + Trezor is here) if you want them ASAP. The Ledger Nano S is what I use. For less than £70, this gives you peace of mind.

      Alternatively, you could install the official wallet releases (from the developers) or a multi-currency wallet, like Exodus or Jaxx, on your desktop. I don’t use them, but they seem well recommended. They are free and easy to use (in most cases). Unless these use two-factor authentication, they are probably less secure (as a compromise of your PC could reveal the keys/passwords to someone over the Internet).

      Hope that helps! I will have a more detailed post about wallets, exchanges, and security soon’ish.

      Reply
    • Hey Matthew,

      There’s some information on this here.

      I usually set a limit order so that I’m classified as a maker, and not a taker, on the market. This is because you’ll be charged 0.1 – 0.25% in fees if you are a taker (see here for information on fees for GDAX). You can read about the basics of what a maker and taker are here.

      Hope that helps!

      Reply
  18. Coinbase lists a “Bank address” (Estonia) and a “recipient address” (England) – which of these do you plug into the “Country” field on the Revolut transfer screen?

    Reply
    • Hey Craig,

      The same methods, but in reverse. The process for route #1 would look like this:
      – Transfer BTC to GDAX.
      – Sell BTC at market rate/limit sell for EUR.
      – Select ‘Withdraw’, select ‘SEPA’, and fill in all the details. If Revolut isn’t there, add your EUR IBAN details.
      – When funds land in Revolut, exchange it from EUR to GBP (fee-less, unless you’re over the £5000 monthly exchange/receive/send limit).
      – Send to your GBP bank.

      If possible, do this on a weekday – Revolut charges a 0.5% markup on their foreign exchange rate on weekends (for popular currencies, more for less popular). If the Revolut monthly limit impacts you, check out this link.

      Alternatively, you could just sell to a reputable person on LocalBitcoins and just get GBP straight away – without all the faff. For larger amounts (>£5000), Coinfloor might be worth checking out (can’t vouch).

      Reply
        • Hey Chris,

          I don’t have any experience with anycoindirect – so I can’t say for certain. Given that Revolut don’t block most cryptocurrency exchanges, I don’t see why they wouldn’t accept SEPA payments from this exchange too. If you want to make 100% certain, you’ll need to get in touch with them (to do this: Open Revolut App > Select ‘More’ (at bottom)> Select ‘Support’ (at top) > Put in your query until the bot connects you to a customer service rep).

          If you can’t be bothered with that, just send a small test payment and find out yourself! Most SEPA transfers take under 24hours on weekdays.

          Reply
  19. What wallet do you use to store your BTC after purchasing from one of the exhanges?

    Is there a wallet that lets you control private keys that integrates in a way that lets you skip the fees in sending your BTC from e.g coinbase to whatever wallet you have?

    Reply
    • Hey,

      I answered this question here.

      If there is a way to do this, I’m not aware of it. I would recommend chunking your transfers. For example, accumulate between £500-1000 worth of BTC on Coinbase/GDAX/Bitstamp, then transfer in one transaction to your private wallet. If you are doing this, make sure you enable 2-factor authentication wherever you’re temporarily leaving your BTC.

      Reply
  20. New issue.. Maybe I’m just not meant to use this method :(.

    Finally got my Revolut account authorised after having to do the manual process. Trying to send the funds from my EUR balance to Coinbase, and am now getting an error in revolut saying “Transfer Cancelled, Beneficiary Not Allowed”.

    Double checked all the IBAN/Swift/BIC details etc and they’re all correct. I also set the country the beneficiary is in to Estonia, which is where Coinbase says it’s account is.

    Have you seen this before?

    Reply
    • Haven’t experienced this myself, but Revolut might now be blocking payments to these places. I’ve sent a transaction to test this now in any case.

      If you’re looking to make a payment ASAP, I’d just use Localbitcoins/GBP-direct alternatives for now. Alternatively, you could also set up a Fire account. Once that’s setup, you should be able to send it through Revolut > Fire > Coinbase/Bitstamp/etc. Haven’t tested this route myself yet though!

      Thanks for commenting though, I’ll look into this.

      Reply
  21. Thanks for the guide, it’s been really helpful in understanding how to get started.
    I have a an issue which seems to be blocking me using the first method though.
    I’ve created my accounts on both Coinbase and GDAX, however I can’t create an EUR wallet?
    I’ve got a GBP wallet there already, but that would charge 3.99% to transfer to.

    Any idea how why I don’t have access to an EUR wallet, or how to create one?

    Thanks

    Reply
    • I’d imagine it should just be there once you’ve signed up – no need to create it. Should be under Accounts > Left side panel > EUR > Deposit button.

      Are you fully verified on Coinbase? There could be limitations if you’ve just signed up.

      Check out this article – might help too.

      Reply
      • I’m fully verified except for adding a credit/debit card to my account.
        When I created the account it automatically had a GBP wallet, but no EUR one.
        I’ve raised a support ticket with Coinbase, but it says they’re likely to take several days to respond.

        Thank you for the reply, unfortunately that link doesn’t work?

        Reply
        • Problem magically solved! As I wrote this post, checked my account again and an EUR wallet now appears on my account.
          I guess it just takes a bit of time? May be worth mentioning it in your blog just in case other newbies like me get the same issue ;).

          Reply
    • Thanks for clarifying this BittyBot – and apologies. This was an oversight which shouldn’t have got past me. I’ve removed the offending section for the time being.

      Reply

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