BITCOIN

FrankRizzo

Scottex99 said:

Bank of Scotland for me… so far.

What can help is if you withdraw from an app where you have a named account. I have 3 or 4 like that and I’m essentially receiving £ from myself 

What do you mean a named account? Is that a sole account i.e. not a joint account? Thanks

Scottex99

As in the app you use creates an account under your name. I.e Swissborg. When I send £ to them or withdraw, it comes from an account in my name. So much less likely to flag with my bank

FrankRizzo

Scottex99 said:

As in the app you use creates an account under your name. I.e Swissborg. When I send £ to them or withdraw, it comes from an account in my name. So much less likely to flag with my bank

Thanks. 

Do have any issues with your bank blocking when depositing money into your Swissborg?

aaj123

Futuristic said:

For those withdrawing their profits (lets say "in size"), which bank(s) have you had no issues with?

Santander.

Scottex99

FrankRizzo said:

Scottex99 said:

As in the app you use creates an account under your name. I.e Swissborg. When I send £ to them or withdraw, it comes from an account in my name. So much less likely to flag with my bank

Thanks. 

Do have any issues with your bank blocking when depositing money into your Swissborg?

Historically no.

But they've now changed from an omnibus (could be making this up) account to bank accounts in their users names.

i.e

I used to send £ to Swissborg with no issue
I now send £ to Scott X with no issue

This is the same for Tap Global (another app) and Damex.io (my firm)

Futuristic

aaj123 said:

Futuristic said:

For those withdrawing their profits (lets say "in size"), which bank(s) have you had no issues with?

Santander.

Sure it works (in the sense they haven't banned me completely) but not sure I'd recommend them.

Been given compensation for account freezes one was up to a week. I have been with them for nearly 10 years and every ~6 mo I get request to upload my whole financial information (proof of salary, mortgages, exchange balances etc etc). It's fine but annoying. Usually 3-4mo after a large withdrawal.

Scottex99

Futuristic said:

aaj123 said:

Futuristic said:

For those withdrawing their profits (lets say "in size"), which bank(s) have you had no issues with?

Santander.

Sure it works (in the sense they haven't banned me completely) but not sure I'd recommend them.

Been given compensation for account freezes one was up to a week. I have been with them for nearly 10 years and every ~6 mo I get request to upload my whole financial information (proof of salary, mortgages, exchange balances etc etc). It's fine but annoying. Usually 3-4mo after a large withdrawal.

Everytime you withdraw from a CEX etc into your Santander account you mean?

Yeah, retail UK accounts not ideal. We've interacted with most now with very little issue but then again most of our payments to individuals are for HNWIs so I assume the banks dont want to cause them issues if they have existing big mortgages/investment portfolios with them

aaj123

Futuristic said:

aaj123 said:

Futuristic said:

For those withdrawing their profits (lets say "in size"), which bank(s) have you had no issues with?

Santander.

Sure it works (in the sense they haven't banned me completely) but not sure I'd recommend them.

Been given compensation for account freezes one was up to a week. I have been with them for nearly 10 years and every ~6 mo I get request to upload my whole financial information (proof of salary, mortgages, exchange balances etc etc). It's fine but annoying. Usually 3-4mo after a large withdrawal.

All I can say is that I haven't ever faced a single question from them despite a few high five figure withdrawals from CEXs.

They really expect you to provide them your CEX balances? Sounds atrociously invasive. 

aaj123

Who's like me this year where their savings and investment choices are the extreme ends of the spectrum? I am finding the latest interest rates on savings attractive after many years and yet crypto (and here I really mean the non-shitcoins BTC and ETH) seems ever more attractive to me in terms of the upside relative to the savings rates.

I ask because many seem to think crypto should become less attractive in a high risk free rate environment but I look at it from the point of view that BTC and ETH are the ones that infact are even more attractive given that among risk assets, they have the most compelling upside well beyond even the now higher savings rates. I'd be loath to go into traditional equities simply because the upside on those doesn't make it worthwhile considering what we could get risk free on savings now.

In all of the above, it is needless to say that I do not subscribe to the ponzi / 'can go to zero' view about BTC / ETH and I'd only say each should do their research.

silvercue

aaj123 said:

Who's like me this year where their savings and investment choices are the extreme ends of the spectrum? I am finding the latest interest rates on savings attractive after many years and yet crypto (and here I really mean the non-shitcoins BTC and ETH) seems ever more attractive to me in terms of the upside relative to the savings rates.

I ask because many seem to think crypto should become less attractive in a high risk free rate environment but I look at it from the point of view that BTC and ETH are the ones that infact are even more attractive given that among risk assets, they have the most compelling upside well beyond even the now higher savings rates. I'd be loath to go into traditional equities simply because the upside on those doesn't make it worthwhile considering what we could get risk free on savings now.

In all of the above, it is needless to say that I do not subscribe to the ponzi / 'can go to zero' view about BTC / ETH and I'd only say each should do their research.

The majority of my investments are crypto.  I have ISA, shares, savings etc as well, but the majority is crypto.  I had an incredible year in 2021 and a bad year in 2022 (I don't want to talk about it ) .  I hope we start to get back to the good times this year.