Crypto investing living in a foreign country.

murphydog999

If anyone has any ideas about this……..I am English living abroad and trying to trade but it seems quite complicated!? I have KYC verified with MEXC (with UK passport) but my money is in a local bank in another currency, which most of their 3rd parties don’t accept! I could pay in ££ but by bank transfer (I would just rather pay by card) Apps that work in the non eu country where I am based want local ID which I don’t have (but I do have a paid for house, utility bills etc and bank accounts) MEXC have suggested I buy USDC in £ and trade with that?? But thats like putting all your eggs in one basket! I’ve tried Coinbase/Kracken/Buybit none work for me, does anyone know anything that would? Sorry about not divulging the country, I would rather not be specific

Scottex99

I don’t have an answer for the banking/KYC issues but try Swissborg.

And also try an FPS deposit in £ if you have that option, it’s pretty much instant anyway.

i don’t get the eggs/basket thing. USDC is a stable coin and is basically a digital dollar.

They are probably suggesting to top up in £, trade to USDC and from there you can trade into several other coins. There will be a lot more trading pairs than GBP.

The unspent USDC (if any) can remain on the exchange until you want to spend it, although there is some counterparty risk, and I wouldn’t class MEXC as a tier 1 operator either.

i should have asked at the beginning but are you just trying to buy BTC?

murphydog999

BTC……..initially yes. 

FPS deposit?

I’ll have a look at Swissborg, thx

Scottex99

Faster Payments.

i don’t know what MEXC deposit and trading pairs are like but you could do GBP > BTC.

or GBP > USDC > BTC