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I suppose you would call them brain wallets with the private keys written down. But, it's all sorted now. I was able to bring them into Blockchain.com without needing to verify my ID and move them on to where I wanted them to go. Thanks for the advice everyone!
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Hi, over the years I have opened various accounts with Blockchain.com ....never sold or bought via their exchange....just imported private keys/BTC from cold storage & then sent them on wherever I wanted. Today I went online and it said the verification rules had changed & I needed to verify my account, but because I have multiple accounts it wouldn't let me verify the ones I tried. Now, after reading some threads online, I think verification is only needed if you want to trade on their exchange and isn't needed for storing BTC or sending it to a third party. Does anyone know if this is correct? TIA.
A great example of how any third party with access to your cryptocurrency can change the terms at any time and make it harder for you to own your money. Therefore, storing bitcoin/crypto on custodial wallets is fraught with such unpleasant surprises. Why did you use blockchain.com to import your private keys/BTC when there is electrum wallet? With electrum, such excesses are excluded. I don't have a single penny or satoshi stored with them! I simply wanted to bring a portion of coins out of cold storage and then move them to where I want to sell them (BCBitcoin.com). I have done this numerous times before. Blockchain.com replied to me this morning and it would seem I can still do this - the verification is only needing for trading purposes, not for moving coins in or out of my private wallet. Still I am a bit wary....
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Thank you. I'll have a look at Web Wallets. How do I move it to Web Wallets? ...I am terrified of moving the BTC in and then not being able to move them or get them out again.
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I haven't imported them yet, I want to do it now and then send them on elsewhere. I have messaged their customer support team (dear knows when I'll get a reply, if ever ).
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Hi, over the years I have opened various accounts with Blockchain.com ....never sold or bought via their exchange....just imported private keys/BTC from cold storage & then sent them on wherever I wanted. Today I went online and it said the verification rules had changed & I needed to verify my account, but because I have multiple accounts it wouldn't let me verify the ones I tried. Now, after reading some threads online, I think verification is only needed if you want to trade on their exchange and isn't needed for storing BTC or sending it to a third party. Does anyone know if this is correct? TIA.
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I've asked questions on here before about which exchange would be best for someone in the UK - apart from security, the most important factor is ease of withdrawal into my UK bank account. Stories of people's accounts being blocked terrify me. I am in the process of opening accounts with CEX, Coinbase and Bitstamp and was leaning towards the latter until I read some bad reviews. Previously that happened with CEX too - I read a bad review. I know none of them are perfect, but I would appreciate everyone's input as to which I should opt for. I also looked at BC Bitcoin in the past but had given up on them due to some people's awful experiences but now they seem to be getting better reviews.
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This terrifies me! I'm about to use an exchange to sell for the first time & this was one of the ones I was considering, along with Bitstamp and Coinbase.
As long as you're using centralized exchanges, there's always a risk of something like this happening. Your first picks are all established CEX so that's a good start when it comes to lowering the risks that comes with it. I want to be able to sell and get a withdrawal to my bank account within one business day, which is what Bitstamp seems to say is possible. Am I being over-optimistic in thinking such a thing is possible and is Bitstamp a good choice for a UK resident? It seems possible and maybe a local would be able to answer your last question better? head over to /r/BitcoinUK/Meta: latter stuff were kinda off topic, I suggest creating your own thread for it Can you tell me which ones aren't centralized?
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This terrifies me! I'm about to use an exchange to sell for the first time & this was one of the ones I was considering, along with Bitstamp and Coinbase. I want to be able to sell and get a withdrawal to my bank account within one business day, which is what Bitstamp seems to say is possible. Am I being over-optimistic in thinking such a thing is possible and is Bitstamp a good choice for a UK resident?
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Well 3 months have passed since I started this thread enquiring which exchanges are best to use if you live in the UK and which convert BTC into GBP. I didn't sell at the time but am considering selling a small amount now. Does the same advice still stand? Are Coinbase, Bitstamp or CEX.IO still the best? Does it matter much that Coinbase is centralised and Bitstamp isn't (if I've understood that correctly)? Also what about Bisq as someone mentioned - I've never heard of it - is it reliable? (I'm leaning towards Bitstamp). My main priority other than safety is being able to sell in GBP and withdraw to my UK bank account. Thanks in advance for your advice.
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Thank you all for your replies - they make the process look less daunting
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Use Coinbase.com in the uk Sell btc for gbp then withdraw as PayPal
Thanks, Coinbase was the one I was considering opting for. Do you know how long on average it takes to receive the proceeds after the sale? Also if I withdrew using Paypal, would I not have considerable fees to pay? Can I withdraw direct to my bank account for free? (assuming I have a bank account which will accept the withdrawal). Maybe I could try the bank account & if that didn't work, then opt for Paypal? Thanks again for your reply.
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I have asked this question in the past but then never sold and I know things change over time. Which exchange would be best for someone based in the UK to sell some BTC? Do any or all of them convert the proceeds of the sale into fiat currency or into another crypto? Are there problems with banks accepting withdrawals from BTC exchanges? Thanks in advance for your answers.
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I did not buy and would never consider buying them....I got them free from the fork.
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Kang TB -I only sold a small proportion to cover some upcoming expenses - I'll still be holding most of my coins
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I imported the address into my Blockchain account today & it says to transfer the BCH into my BCH wallet so that they are protected by the backup phrase, but when I click on transfer, nothing happens. They don't appear to move - not sure what the problem is.
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Thanks for your reply - I may do just that tomorrow
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mersal, ...yes, I've learned from my mistake...I will pay the higher fee next time but it's all confirmed and sorted now
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I don't mean outperform as in some day be worth more than BTC; I just meant will it continue to move up and down at the same pace as BTC, ie, roughly track BTC.
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I sold a small percentage of my BTC today but still have the BCH I got with them. Not sure whether to sell them now too. What's everyone's thoughts on whether BCH will continue to move in tandem with the BTC price or whether it will outperform or underperform BTC. I have to admit I have never really followed its movement or predictions for its future - I have focused mainly on BTC.
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looks like I've got one confirmation now.
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