Where to park my BTC?

I've just held my BTC in coinbase for almost a decade.

Literally not touched since late 2023 - the last time I needed to make a payment in crypto. Couple of years ago no questions asked, and no problems.

Just tried to send $15 worth of BTC for a GFX payment and they want my life story and also details on the person I am trying to send BTC to. Seems as my coinbase was registered in the UK there is new legislation I am unaware of.

I am happy to be compliant, but I plan on moving all my funds elsewhere immediately which will actually let me send payments without BS like this.

Any recommendations? Go easy on me, I am a crypto noob. I just threw money at it and forgot about it. Just want to have a secure wallet or exchange that I can access freely without 100 questions for the transaction the value of a drink at a bar

 

+1

I noticed this a few days ago after not using it for a year. Let me know if you find a good alternative.

 

Exodus or trezor

 

Exodus or trezor

Thank you! Appreciate you taking the time to respond - will look into both

@Sunny this may help you also

 

I've just held my BTC in coinbase for almost a decade.

Literally not touched since late 2023 - the last time I needed to make a payment in crypto. Couple of years ago no questions asked, and no problems.

Just tried to send $15 worth of BTC for a GFX payment and they want my life story and also details on the person I am trying to send BTC to. Seems as my coinbase was registered in the UK there is new legislation I am unaware of.

I am happy to be compliant, but I plan on moving all my funds elsewhere immediately which will actually let me send payments without BS like this.

Any recommendations? Go easy on me, I am a crypto noob. I just threw money at it and forgot about it. Just want to have a secure wallet or exchange that I can access freely without 100 questions for the transaction the value of a drink at a bar

+1

I noticed this a few days ago after not using it for a year. Let me know if you find a good alternative.

I use exodus after previously using CB for many years myself, and had no issues at all besides the possibility of having to send X amount but it's non-KYC so you're safe on that at least without all the pesky info needed

 

Ok I will give Exodus a shot

Any general advice for this wallet?

 

Ok I will give Exodus a shot

Any general advice for this wallet?

I guess it really depends what information you want to know, i know in terms of having to send certain amounts like i had to send USDT and it wouldn't let me send below $30-40 worth which was quite annoying so i had to buy crypto and exchange it so i could send more lol

But beyond that so far i haven't seen any issues everything has been straight forward and easy each time i use it

 

I guess it really depends what information you want to know, i know in terms of having to send certain amounts like i had to send USDT and it wouldn't let me send below $30-40 worth which was quite annoying so i had to buy crypto and exchange it so i could send more lol

But beyond that so far i haven't seen any issues everything has been straight forward and easy each time i use it

Did you buy crypto with your UK bank/card?

I've heard some UK banks don't like crypto these days so I've been careful while living abroad. May just use a random current account I have though.

 

Did you buy crypto with your UK bank/card?

I've heard some UK banks don't like crypto these days so I've been careful while living abroad. May just use a random current account I have though.

I did indeed, thankfully not much only like $10-20 worth or something i think it was, just so i didn't have to keep dealing with the issue and keep trying to buy more in a dollar-2 dollar range to meet the requirement (this was again on USDT/ETH not sure on others*) but otherwise been a pleasant experience so far

 

Wasabi Wallet my dude

Wasabi Wallet for Bitcoin Privacy

 

Wasabi Wallet my dude

Wasabi Wallet for Bitcoin Privacy

thanks will check it out too - will deffo be diversifying after the coinbase experience

 

Binance.

I also had issues with both Coinbase and Robinhood. Trying not to sound like an ad, but Binance is really convenient because you can buy and sell peer2peer for no cost, and you have something called "binance pay" which is free between Binance users.

You can also convert BTC to something like XRP or SOL for instant transactions and ≈ 0.1% fee, makes using crypto for sending/receiving payments very convenient since you're not waiting for confirmations.

The only thing that might suck is when you're trying to cash out BTC to your bank, there's a flat fee (at least in the USA) but this can be avoided by selling peer2peer afaik

Good luck! Hope this helps you. Tagging @Sunny as well since it may be relevant to them

 

Binance.

I also had issues with both Coinbase and Robinhood. Trying not to sound like an ad, but Binance is really convenient because you can buy and sell peer2peer for no cost, and you have something called "binance pay" which is free between Binance users.

You can also convert BTC to something like XRP or SOL for instant transactions and ≈ 0.1% fee, makes using crypto for sending/receiving payments very convenient since you're not waiting for confirmations.

The only thing that might suck is when you're trying to cash out BTC to your bank, there's a flat fee (at least in the USA) but this can be avoided by selling peer2peer afaik

Good luck! Hope this helps you. Tagging @Sunny as well since it may be relevant to them

Thank you very much for this! Currently back in the U.K on a biz trip so is the perfect time for me to sort this out