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Author Topic: Advice for a newb in the UK please  (Read 493 times)
mckenzie126
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April 18, 2017, 11:06:55 AM
 #1

Hi, I'd like to try my hand at trading with a small amount of BTC/Altcoins here in the UK but could do with some advice if anyone can help?

Can I trade freely on non UK based exchanges like poloniex etc ? Are there any restrictions/pitfalls I need to know about, especially being UK based ?

Thanks for any advice whatsoever!
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April 18, 2017, 01:26:45 PM
 #2

Hi, I'd like to try my hand at trading with a small amount of BTC/Altcoins here in the UK but could do with some advice if anyone can help?

Can I trade freely on non UK based exchanges like poloniex etc ? Are there any restrictions/pitfalls I need to know about, especially being UK based ?

Thanks for any advice whatsoever!
I would like to ask, why do you think that you cannot trade freely on non UK based exchange?
There is no restrictions as far as I know, especially in such a country as UK. You can just trade on every single exchange you want, if it is not easy for you to convert the bitcoins/altcoins you have there into fiat, then just simply make a transaction with those funds on the other exchanges ( why not UK-based ) just to have an ability to exchange the cryptocurrency for real money.

Obviously, for all this you need bank account to be able of getting the payment out of the cryptocurrency exchange, unless you are going to choose localbitcoins.com and sell them for cash.
mckenzie126
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April 18, 2017, 03:57:46 PM
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Im asking these dumb questions because I'm new to crypto trading - so thanks for taking the time! I've been slowly studying the psychology & methodolgy for a while but only now getting round to making a few trades. Thanks for your help  Smiley
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April 18, 2017, 04:27:08 PM
 #4

Im asking these dumb questions because I'm new to crypto trading - so thanks for taking the time! I've been slowly studying the psychology & methodolgy for a while but only now getting round to making a few trades. Thanks for your help  Smiley
Pretty sure you can sign up to Poloniex and other exchanges and it shouldn't be a problem.  Most sites which handle US customers will accept UK ones as well unless it's something solely based around dollars rather than other currencies (in Poloniex's case there's no fiat involved so you should be good to go).

mckenzie126
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April 18, 2017, 05:19:22 PM
 #5

Im asking these dumb questions because I'm new to crypto trading - so thanks for taking the time! I've been slowly studying the psychology & methodolgy for a while but only now getting round to making a few trades. Thanks for your help  Smiley
Pretty sure you can sign up to Poloniex and other exchanges and it shouldn't be a problem.  Most sites which handle US customers will accept UK ones as well unless it's something solely based around dollars rather than other currencies (in Poloniex's case there's no fiat involved so you should be good to go).

Thanks for the help!
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April 18, 2017, 06:12:09 PM
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Can I trade freely on non UK based exchanges like poloniex etc ? Are there any restrictions/pitfalls I need to know about, especially being UK based ?
I think yes because dispite i am from Asia and poloniex is USA based exchange, i have never got any problem while trading there. But you have to be careful about their daily withdrawal limit according to your level of verification. You can also get verified to trade there freely.

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April 18, 2017, 06:15:12 PM
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I've been slowly studying the psychology & methodolgy for a while but only now getting round to making a few trades.
For smaller amount of trades you can trade in any of the platform like poloniex, bittrex or yobit. But to trust any exchange with larger amount of bitcoin you have to look for trusted platforms like poloniex.

If you like to trade altcoins like you have stated in OP, don't put all your eggs in one basket.

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April 18, 2017, 06:40:09 PM
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Im asking these dumb questions because I'm new to crypto trading - so thanks for taking the time! I've been slowly studying the psychology & methodolgy for a while but only now getting round to making a few trades. Thanks for your help  Smiley


I sold out bitcoins which I got from my friend 3 months before. I was just hold that btc for some months and it by last month. It almost big profit from that. If you are involved in btc trading. You can make money everyday and you can profit from every trading. You just need to price chart every day.
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