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Author Topic: What options do we have to currently buy BTC in the UK?  (Read 211 times)
ImThour
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March 09, 2024, 01:06:58 PM
 #21

I am not sure if you are aware of Bisq, but you should give it a try and start with low amount. I have personally used it many times and I haven't faced any issues yet.
Website: https://bisq.network/

It's open source, No registration required and also uses 2-of-2 multisig wallets encourage safe, successful trades.
You can read more on the website.
Doan9269
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March 09, 2024, 02:04:38 PM
 #22

P2P Platforms: Platforms like LocalBitcoins, Paxful, and Bisq allow you to buy BTC directly from other individuals. They often provide a variety of payment methods, including bank transfers, PayPal, and even cash. These platforms typically have escrow services and a reputation system to reduce the risk of fraud.

Its better to use bisq or hodl hodl in buying, i don't know why the use of centralized exchange has been so common with the people in buying or investing in bitcoin, i think its may be due to the fact that they often use some of these exchanges in making trades and they will see it more easy and convenient for them to use the same exchange in buying bitcoin, but they are not the only means neither are the exchange the best way of storing our digital asserts.

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March 09, 2024, 02:29:04 PM
 #23

Most UK banks are now blocking payments >£1000 to the main exchanges like Kraken, Coinbase, Binance.

What safe options do we have to buy BTC?
I don't live in the UK so I don't know how bad the situation could actually be but there must be some crypto-friendly banks, no? Especially because for them it would be a great opportunity to get new customers. At the end buying cryptocurrencies is perfectly legal, if the bank doesn't want to deal with that type of transfer is because of their own (stupid) policies, there must be some smart bank taking advantage of this situation.

After all, banks are just the government's backyard. If the government doesn't like bitcoin, no bank will dare to go against the government's will. Just like the country I live in, no banks accept bitcoin and if they find out we are using a bank account to make bitcoin-related purchases, they will freeze the account ours. But that won't stop us from getting into bitcoin, and there will always be a way for us to buy bitcoin with a bank account.
I can't offer any ideas as I don't understand the actual problems the OP is facing nor the specific regulations of banks in the UK. But I believe there will always be a way for us to circumvent the law to buy bitcoin even though it will be a bit more complicated.
You are right because it is very difficult to open a bitcoin bank account in a country where bitcoin is not legal and where the government has not issued bitcoin. Because where I live Bitcoin is not legal in our country so we can never openly say that we are doing transactions through Bitcoin by opening a bank account because if I reveal it I may get into legal trouble. Those who transact through Bitcoin or invest in Bitcoin in our country must avoid the eyes of the government to do our Bitcoin transactions. By investing in Bitcoin so we can never directly say the money we will get through Bitcoin investment that we are transacting through Bitcoin because we have to evade the government of our country to transact Bitcoin.

GreenInk (OP)
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March 09, 2024, 06:30:51 PM
 #24

Use Bisq! Go through the hassle with installing and learning and such. I have a laptop with a Linux installation dedicated to Bisq. This platform works perfectly for me. It´s open source and decentralized.

What distro did you install on?
Official Bisq package or user created repository?

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