Thanks, I did get a lengthy security call from my bank before allowing deposit.
The problem now appears to be that I can't withdraw GBP back to my account from KuCoin and I can only buy USDT/BTC/ETH with GBP and all three are hugely unflated!
I just can't figure out why on earth people are paying a 22% premium to swap FIAT to a stablecoin, it seems to make no sense whatsoever!
Thanks for the P2P idea, something I can look into once I figure out what to do with my deposit at KuCoin!
Topic: Converting GBP - page 2. (Read 192 times)
I'm not sure if you can buy from Binance directly, since a few banks already started restricting people from buying crypto[1]
But you should be fine using their P2P platform. Most offers seem to have the rates you're looking for[2]
[1] https://www.indieinvestor.co.uk/what-uk-banks-are-banning-crypto-buying/
[2] https://p2p.binance.com/en/trade/all-payments/USDT?fiat=GBP
But you should be fine using their P2P platform. Most offers seem to have the rates you're looking for[2]
[1] https://www.indieinvestor.co.uk/what-uk-banks-are-banning-crypto-buying/
[2] https://p2p.binance.com/en/trade/all-payments/USDT?fiat=GBP
I recently signed up to KuCoin and deposit in my local currency GBP.
A fair exchange rate to USDT is approx 0.825GBP/USDT
However despite the official rate being flat the going rate on platform is climbing (up 7% today alone)!
The current cost is 1.01GBP/USDT a 22% premium to convert FIAT!!!!
Can anyone explain this? There is no way I'm paying this extortionate rate so I can get USDT to buy coins.
A fair exchange rate to USDT is approx 0.825GBP/USDT
However despite the official rate being flat the going rate on platform is climbing (up 7% today alone)!
The current cost is 1.01GBP/USDT a 22% premium to convert FIAT!!!!
Can anyone explain this? There is no way I'm paying this extortionate rate so I can get USDT to buy coins.
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