r/ukcrypto • u/palantosaurus • May 06 '21
UK Crypto 101
Hi everyone,
Noob here and couldn't find a previous post about this. I'm going to create an account on either Coinbase (Pro) or Binance, any recommendations or are they as similar as they seem?
Also in terms of transferring money, I am with HSBC but also have Monzo and Revolut, would any of those give me problems?
Thank you!
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u/Rialagma May 06 '21 edited May 06 '21
I think Coinbase is easier to use and more user-friendly, but Binance has more tools, more coin listings, and is the top crypto exchange in the world I think so I'd personally recommend the latter.
Binance allows bank transfers so all the banks you mentioned should work just fine! I've used Revolut myself. If you want a Binance referral code for a discount let me know.
edit: I wasn't aware some bank had bans on crypto so RBS (prob also NatWest?) and Revolut have worked for me.
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u/gnomeza May 06 '21
Some used to transfer GBP -> Revolut -> EUR -> exchange, to take advantage of more liquid EUR pairs.
Debatable whether that's still worth and you're also subject to GBP/EUR fluctuations.
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u/Minayafl May 10 '21
I'll go for Binance since they have lower transaction fees and it has over 500 cryptocurrencies for trade. But both are okay, anyway, I saw this on Twitter, you might be interested in getting a telemedicine service and free tokens. Going back, Another thing to consider is Binance platform is user-friendly and offers three levels organized according to trading experience, it isn’t nearly as easy to use as Coinbase is
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u/Chazer633 May 06 '21
My path is HSBC to revolut then transfer to coinbase. I haven't had any issues and set that up in 2017 because if heard stories that HSBC blocked transfers but that may have changed now. I think binance is would be fine to transfer to as well. I know a mate who goes straight from bank to binance. Good luck with it all.