Which CEXs open for UK customers? | Bitcointalksearch.org

dim_mak5

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Quote from: Potato Chips on November 16, 2024, 04:09:50 PM

Quote from: dim_mak5 on November 16, 2024, 03:28:03 PM

I thought going through all that hassle with completing KYC/AML by uploading your private sensitive docs with a so called FCA regulated CEX is in return you get peace of mind protection from FCA if anything happens to your assets on the CEX but if you say FCA provides no protection then I do not see this as fair to the user because the CEX can still screw the user over and sell the user's KYC ID docs to the Dark Web Shocked

No crypto is insured in CEXes, hence why people promote self-custody for storing. We just do our business in CEXs and get out right after lol.

Well, if you can't find a CEX alternative, you can try in "DEXes". dexscreener.com is a good aggregator for instance. Just make sure you're interacting with the right contract address -- if it's listed on OKX, you can find it on coingecko along with their CA. Watch tutorials in YouTube if you're confused.

Okay I found OKX on CoinGecko, what you mean CA?

Darker45

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Quote from: dim_mak5 on November 16, 2024, 08:14:08 AM

I tried buying a meme coin on OKX however it wouldn't allow me and I get a error message on screen, this coin not available in your country Huh

What the heck I thought crypto is global Undecided

For other popular coins like bitcoin, ethereum, Shiba Inu & Tron, it allows me the possibility to buy them but not a high volume trading meme coin. Because the FCA is choosing what coins I am allowed to buy/trade on OKX?

Surely Gemini must be on the FCA list cause Gemini is all about 'being the most regulated CEX in the world' right? Where are Bitstamp HQ located?

Please be responsible enough to communicate with exchanges' support as regards certain terms and conditions. Crypto is global, but every jurisdiction has its laws and regulations. Bitcoin is truly global, borderless, censorship-resistant but you aren't allowed to use it in certain countries.

While FCA has approved OKX, it doesn't mean it has allowed everything OKX has to offer. Certain services and features might not be allowed in certain jurisdictions. I'm sure UK prohibits some of them. You need to contact OKX's support for the specifics.

Bitstamp has an office in London, if that makes you feel at ease. You could personally drop by to clarify certain things.

Quote from: dim_mak5 on November 16, 2024, 03:28:03 PM

Quote from: SquirrelJulietGarden on November 16, 2024, 08:39:22 AM

Quote from: dim_mak5 on November 16, 2024, 08:14:08 AM

~snip~

~snip

But then again didn't you say earlier that FCA provides no protection whatsoever?

I thought going through all that hassle with completing KYC/AML by uploading your private sensitive docs with a so called FCA regulated CEX is in return you get peace of mind protection from FCA if anything happens to your assets on the CEX but if you say FCA provides no protection then I do not see this as fair to the user because the CEX can still screw the user over and sell the user's KYC ID docs to the Dark Web Shocked

FCA provides consumer protection, but not absolute. No protection and limited protection aren't the same. Again, crypto is largely unregulated in the UK. The entirety of the crypto market, with all its numerous services and products, don't fall within the ambit of UK's existing regulations. Protections offered by the Financial Ombudsman Service, for example, or by the Financial Services Compensation Scheme may not be available.

Please read further from FCA's official website: https://www.fca.org.uk/firms/financial-crime/cryptoassets-aml-ctf-regime.

Rikafip

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Quote from: dim_mak5 on November 16, 2024, 03:28:03 PM

I thought going through all that hassle with completing KYC/AML by uploading your private sensitive docs with a so called FCA regulated CEX is in return you get peace of mind protection from FCA if anything happens to your assets on the CEX but if you say FCA provides no protection then I do not see this as fair to the user because the CEX can still screw the user over and sell the user's KYC ID docs to the Dark Web Shocked

Theoretically, FCA regulated exchange should be a little bit safer to sue and less likely to runaway with your money and that's all protection you are going to get from them.

Quote from: Potato Chips on November 16, 2024, 04:09:50 PM

No crypto is insured in CEXes, hence why people promote self-custody for storing.

As far as I know, only Japan has something like that set in order to protect centralized exchange customers.

Potato Chips

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Quote from: dim_mak5 on November 16, 2024, 03:28:03 PM

I thought going through all that hassle with completing KYC/AML by uploading your private sensitive docs with a so called FCA regulated CEX is in return you get peace of mind protection from FCA if anything happens to your assets on the CEX but if you say FCA provides no protection then I do not see this as fair to the user because the CEX can still screw the user over and sell the user's KYC ID docs to the Dark Web Shocked

No crypto is insured in CEXes, hence why people promote self-custody for storing. We just do our business in CEXs and get out right after lol.

Well, if you can't find a CEX alternative, you can try in "DEXes". dexscreener.com is a good aggregator for instance. Just make sure you're interacting with the right contract address -- if it's listed on OKX, you can find it on coingecko along with their CA. Watch tutorials in YouTube if you're confused.

dim_mak5

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Quote from: SquirrelJulietGarden on November 16, 2024, 08:39:22 AM

Quote from: dim_mak5 on November 16, 2024, 08:14:08 AM

I tried buying a meme coin on OKX however it wouldn't allow me and I get a error message on screen, this coin not available in your country Huh

What the heck I thought crypto is global Undecided

Centralized exchanges can have their policies to prohibit / ban specific cryptocurrencies. It is similar to gambling sites can have games from their partners, game providers, and they will have some additional bans on your country in some of their games. In general, you can use a centralized exchange or a gambling site, but you can possibly be restricted partially and are not allowed to use all of their products.

Okay do you which CEXs are open to UK customers and... no restrictions on which trading pairs for UK customers that has most of the trading pairs seen on Binance?

If they are FCA regulated then that is a bonus. If I am depositing like $100-$200 then I'm not bothered about FCA regulated status unless I'm like for example depositing like 100-200 bitcoins and I definitely will need FCA protection if anything happens!

But then again didn't you say earlier that FCA provides no protection whatsoever?

I thought going through all that hassle with completing KYC/AML by uploading your private sensitive docs with a so called FCA regulated CEX is in return you get peace of mind protection from FCA if anything happens to your assets on the CEX but if you say FCA provides no protection then I do not see this as fair to the user because the CEX can still screw the user over and sell the user's KYC ID docs to the Dark Web Shocked

SquirrelJulietGarden

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Quote from: dim_mak5 on November 16, 2024, 08:14:08 AM

I tried buying a meme coin on OKX however it wouldn't allow me and I get a error message on screen, this coin not available in your country Huh

What the heck I thought crypto is global Undecided

Centralized exchanges can have their policies to prohibit / ban specific cryptocurrencies. It is similar to gambling sites can have games from their partners, game providers, and they will have some additional bans on your country in some of their games. In general, you can use a centralized exchange or a gambling site, but you can possibly be restricted partially and are not allowed to use all of their products.

dim_mak5

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Quote from: Darker45 on November 16, 2024, 07:52:04 AM

Quote from: dim_mak5 on November 15, 2024, 02:49:20 PM

Quote from: Darker45 on November 14, 2024, 10:24:09 PM

You might want to also check Kraken and OKX. They're two of the most reputable centralized exchanges and they're legally operating in the UK.

If I were you, I would avoid courting unnecessary problems by trying to circumvent certain terms and conditions. You might regret it in the end. There are other options. You don't have to take risks with your money, and probably cry and wrongly throw accusations at exchanges in the end for locked accounts and frozen funds. Many of those who are complaining against such problems are violating certain terms, often knowingly and willingly.

Although KuCoin has users from the UK, if I'm not mistaken, the company isn't under the regulations of FCA. The same is true with MEXC. Beware!

Alright, so OKX are on the FCA regulated list?

Yeah, OKX is operating under FCA regulations. And they seem to be strictly compliant with such regulations. If you need further options that are not just FCA-approved but are also quite popular and with a more or less solid track records, you might also want to check Bitstamp and Gemini.

Despite such exchanges being approved by the FCA, however, crypto in general isn't really regulated in the country. So, while being FCA-approved adds certain security for users, they aren't completely protected.

I tried buying a meme coin on OKX however it wouldn't allow me and I get a error message on screen, this coin not available in your country Huh

What the heck I thought crypto is global Undecided

For other popular coins like bitcoin, ethereum, Shiba Inu & Tron, it allows me the possibility to buy them but not a high volume trading meme coin. Because the FCA is choosing what coins I am allowed to buy/trade on OKX?

Surely Gemini must be on the FCA list cause Gemini is all about 'being the most regulated CEX in the world' right? Where are Bitstamp HQ located?

Darker45

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Quote from: dim_mak5 on November 15, 2024, 02:49:20 PM

Quote from: Darker45 on November 14, 2024, 10:24:09 PM

You might want to also check Kraken and OKX. They're two of the most reputable centralized exchanges and they're legally operating in the UK.

If I were you, I would avoid courting unnecessary problems by trying to circumvent certain terms and conditions. You might regret it in the end. There are other options. You don't have to take risks with your money, and probably cry and wrongly throw accusations at exchanges in the end for locked accounts and frozen funds. Many of those who are complaining against such problems are violating certain terms, often knowingly and willingly.

Although KuCoin has users from the UK, if I'm not mistaken, the company isn't under the regulations of FCA. The same is true with MEXC. Beware!

Alright, so OKX are on the FCA regulated list?

Yeah, OKX is operating under FCA regulations. And they seem to be strictly compliant with such regulations. If you need further options that are not just FCA-approved but are also quite popular and with a more or less solid track records, you might also want to check Bitstamp and Gemini.

Despite such exchanges being approved by the FCA, however, crypto in general isn't really regulated in the country. So, while being FCA-approved adds certain security for users, they aren't completely protected.

Rikafip

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Quote from: dim_mak5 on November 15, 2024, 02:49:20 PM

Alright, so OKX are on the FCA regulated list?

I don't know about OKX, but Kraken is indeed licensed by FCA.

Quote from: dim_mak5 on November 15, 2024, 02:49:20 PM

I'm just looking for a CEX that is open for the UK for years to come that has most of the coins listing as Binance does

There are no guarantees that any exchange you choose will operate in UK in let's say 5 years, but chances are that those that are already regulated by FCA gonna be among those.

dim_mak5

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Quote from: Text on November 15, 2024, 07:03:32 AM

Quote from: dim_mak5 on November 14, 2024, 04:06:58 PM

Alright Kucoin are taking on UK customers now?

Kucoin is still accepting UK customers as of now. Their Terms of Use don't list the UK as a restricted location, so new UK users can sign up without issues. Just ensure you're following any updates they might post in case their policies change. Keep in mind that their KYC process is optional for basic use, but completing it may be necessary for higher withdrawal limits or accessing specific features.

I think if you've already completed KYC in a supported country and then travel to another supported country, you shouldn’t face restrictions logging in, but it’s always good to notify the platform beforehand to avoid potential flagging of unusual activity.

See that's the problem with their policy might change in future. For example I sign up with Kucoin now and lets say next week they stop their service for UK customers. I understand the UK is not liked by many countries including the USA now. I'm just looking for a CEX that is open for the UK for years to come that has most of the coins listing as Binance does.

You mean notify Binance via a phone call and let a binance staff know to update their computer records for my account so their flagging of unusual activity algorithms are deactivated just for my account? Binance or any CEX will do such a service request for their user customer straight away on the phone instead of waiting for months for their email reply?

dim_mak5

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Quote from: Darker45 on November 14, 2024, 10:24:09 PM

You might want to also check Kraken and OKX. They're two of the most reputable centralized exchanges and they're legally operating in the UK.

If I were you, I would avoid courting unnecessary problems by trying to circumvent certain terms and conditions. You might regret it in the end. There are other options. You don't have to take risks with your money, and probably cry and wrongly throw accusations at exchanges in the end for locked accounts and frozen funds. Many of those who are complaining against such problems are violating certain terms, often knowingly and willingly.

Although KuCoin has users from the UK, if I'm not mistaken, the company isn't under the regulations of FCA. The same is true with MEXC. Beware!

Alright, so OKX are on the FCA regulated list?

Text

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Quote from: dim_mak5 on November 14, 2024, 04:06:58 PM

Alright Kucoin are taking on UK customers now?

Kucoin is still accepting UK customers as of now. Their Terms of Use don't list the UK as a restricted location, so new UK users can sign up without issues. Just ensure you're following any updates they might post in case their policies change. Keep in mind that their KYC process is optional for basic use, but completing it may be necessary for higher withdrawal limits or accessing specific features.

I think if you've already completed KYC in a supported country and then travel to another supported country, you shouldn’t face restrictions logging in, but it’s always good to notify the platform beforehand to avoid potential flagging of unusual activity.

Darker45

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You might want to also check Kraken and OKX. They're two of the most reputable centralized exchanges and they're legally operating in the UK.

If I were you, I would avoid courting unnecessary problems by trying to circumvent certain terms and conditions. You might regret it in the end. There are other options. You don't have to take risks with your money, and probably cry and wrongly throw accusations at exchanges in the end for locked accounts and frozen funds. Many of those who are complaining against such problems are violating certain terms, often knowingly and willingly.

Although KuCoin has users from the UK, if I'm not mistaken, the company isn't under the regulations of FCA. The same is true with MEXC. Beware!

Potato Chips

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Quote from: dim_mak5 on November 14, 2024, 04:06:25 PM

Sorry I meant complete KYC in a supported country that later becomes unsupported then go abroad to a supported country.

I don't think so because even if you travel abroad, you're still a legal resident from the said unsupported country. As mentioned previously, binance will based it on your KYC documents so a change of IP does not help -- vpn or not.

Quote from: dim_mak5 on November 14, 2024, 04:06:25 PM

Can you confirm Kucoin supports new UK user sign ups?

As confirmed by r/kucoin mod as well -- the restriction is only for promotions so trading and stuff should be okay. 2 months old thread.
see:

Quote from: https://www.reddit.com/r/kucoin/comments/1f03t7l/kucoin_banned_in_the_uk

Please be informed that: Pursuant to the UK's financial promotions regime,the material provided on our website is directed only at persons outside of the United Kingdom. All persons in the United Kingdom are prohibited from acting upon any promotional information found on our website, including but not limited to our referral program. Please note all account functionality will be unaffected, ensuring that your user experience remains unaltered.

BTW, UK is restricted in MEXC so I don't recommend them. They may not require you to verify upon sign up but they can ask for it anytime. I would err on the side of caution.

Quote from: https://www.mexc.com/terms

1) You must ensure that you are not resident of Prohibited Countries. Currently, MEXC does not provide Services, nor do we accept registration of Users or trade applications, in the following countries: North Korea, Cuba, Sudan, Syria, Iran, Mainland China, Singapore, the United States, the United Kingdom

dim_mak5

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Quote from: SquirrelJulietGarden on November 14, 2024, 11:08:20 AM

Quote from: OmegaStarScream on November 14, 2024, 10:25:33 AM

EDIT: @SquirrelJulietGarden might be right about Kucoin. I jumped to the conclusion that Kucoin is unsupported due to some Reddit posts I have seen, but I just checked and found a recent one from 5 months ago that says UK users should be users. So take a look at that @OP.

I don't know because I don't use Kucoin and I am not from the UK, it's what I read from the blog post.

Kucoin's Terms of Use does not mention about UK. in restricted locations.

Quote

(5) the User (whether as an individual or legal entity) is not a resident of or registered in, any of the Restricted Locations. For the purpose of this Agreement, “Restricted Locations” shall include the United States(including US territories, such as Puerto Rico, Guam, the Northern Mariana Islands, American Samoa, and etc.), Singapore, the mainland of China and Hong Kong, Malaysia, Uzbekistan, Ontario Canada (the list of “Restricted Locations” may be updated from time to time at the Platform’s sole and absolute discretion) ;

Alright Kucoin are taking on UK customers now?

dim_mak5

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Quote from: OmegaStarScream on November 14, 2024, 10:25:33 AM

Quote from: dim_mak5 on November 14, 2024, 10:11:11 AM

Quote from: OmegaStarScream on November 14, 2024, 10:00:15 AM

Using a VPN won't be of any help since the platform requires KYC unless you're planning to use a relative's account from overseas, which is not something I would recommend doing.

Bybit and Kucoin both left the UK. Maybe you can look into MEXC as it still doesn't require KYC unless you want to increase you limits.

So lets say I completed KYC and take my device with me on holiday abroad, you saying I'm still restricted when I login into binance abroad without using a VPN?

What are the current limits on MEXC?

If you completed KYC from a supported country, and then go to an unsupported country and login from there, that could be flagged as suspicious regardless whether you're using a VPN or not. Some countries might see using a VPN as suspicious, and obviously connecting from an unsupported country is not something that the exchange wants either. I wouldn't say that neither of these things would get your account frozen and your funds seized but still... something to keep in mind, they'll definitely give you some headache, and might ask you to provide more personal data etc.

For MEXC: Without submitting anything, you should be able to withdraw 10 BTC per day which I would imagine is more than enough especially with the current bitcoin price.

EDIT: @SquirrelJulietGarden might be right about Kucoin. I jumped to the conclusion that Kucoin is unsupported due to some Reddit posts I have seen, but I just checked and found a recent one from 5 months ago that says UK users should be users. So take a look at that @OP.

Sorry I meant complete KYC in a supported country that later becomes unsupported then go abroad to a supported country.
Can you confirm Kucoin supports new UK user sign ups?

SquirrelJulietGarden

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Quote from: OmegaStarScream on November 14, 2024, 10:25:33 AM

EDIT: @SquirrelJulietGarden might be right about Kucoin. I jumped to the conclusion that Kucoin is unsupported due to some Reddit posts I have seen, but I just checked and found a recent one from 5 months ago that says UK users should be users. So take a look at that @OP.

I don't know because I don't use Kucoin and I am not from the UK, it's what I read from the blog post.

Kucoin's Terms of Use does not mention about UK. in restricted locations.

Quote

(5) the User (whether as an individual or legal entity) is not a resident of or registered in, any of the Restricted Locations. For the purpose of this Agreement, “Restricted Locations” shall include the United States(including US territories, such as Puerto Rico, Guam, the Northern Mariana Islands, American Samoa, and etc.), Singapore, the mainland of China and Hong Kong, Malaysia, Uzbekistan, Ontario Canada (the list of “Restricted Locations” may be updated from time to time at the Platform’s sole and absolute discretion) ;

OmegaStarScream

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Quote from: dim_mak5 on November 14, 2024, 10:11:11 AM

Quote from: OmegaStarScream on November 14, 2024, 10:00:15 AM

Using a VPN won't be of any help since the platform requires KYC unless you're planning to use a relative's account from overseas, which is not something I would recommend doing.

Bybit and Kucoin both left the UK. Maybe you can look into MEXC as it still doesn't require KYC unless you want to increase you limits.

So lets say I completed KYC and take my device with me on holiday abroad, you saying I'm still restricted when I login into binance abroad without using a VPN?

What are the current limits on MEXC?

If you completed KYC from a supported country, and then go to an unsupported country and login from there, that could be flagged as suspicious regardless whether you're using a VPN or not. Some countries might see using a VPN as suspicious, and obviously connecting from an unsupported country is not something that the exchange wants either. I wouldn't say that neither of these things would get your account frozen and your funds seized but still... something to keep in mind, they'll definitely give you some headache, and might ask you to provide more personal data etc.

For MEXC: Without submitting anything, you should be able to withdraw 10 BTC per day which I would imagine is more than enough especially with the current bitcoin price.

EDIT: @SquirrelJulietGarden might be right about Kucoin. I jumped to the conclusion that Kucoin is unsupported due to some Reddit posts I have seen, but I just checked and found a recent one from 5 months ago that says UK users should be users. So take a look at that @OP.

SquirrelJulietGarden

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Quote from: dim_mak5 on November 14, 2024, 10:11:11 AM

What are the current limits on MEXC?

There are different limits on different KYC levels.

No KYC. You can use MEXC and withdraw too, I don't know the limit. It seems 10 BTC.

Quote from: Oshosondy on November 12, 2024, 03:48:48 AM

My account has a daily withdrawal of 10 BTC.

KYC with two levels: Primary and Advanced. With Primary KYC, limit is 80 BTC and with Advanced KYC, limit is 200 BTC for 24-hour withdrawal.
How to Perform KYC Verification on MEXC?

dim_mak5

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Quote from: OmegaStarScream on November 14, 2024, 10:00:15 AM

Using a VPN won't be of any help since the platform requires KYC unless you're planning to use a relative's account from overseas, which is not something I would recommend doing.

Bybit and Kucoin both left the UK. Maybe you can look into MEXC as it still doesn't require KYC unless you want to increase you limits.

So lets say I completed KYC and take my device with me on holiday abroad, you saying I'm still restricted when I login into binance abroad without using a VPN?

What are the current limits on MEXC?

Topic: Which CEXs open for UK customers? (Read 228 times)