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/biz/ - Business & Finance

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File: 8 KB, 342x147, sepa.png [View same] [iqdb] [saucenao] [google]
1837378 No.1837378 [Reply] [Original]

Why am I only finding out about this now?

I live in the UK and I want to cash out my Bitcoin, but it seems impossible to withdraw my money. I'm using Coinbase, but everywhere seems to require SEPA? Its easy to buy BTC with my normal credit card, but to withdraw I need to authorise SEPA (Single Euro Payments Area) transactions. Coinbase wants to take my BTC, turn them into Euros and transfer them via Estonia into my British bank, which will then convert them to British Pounds (Requiring a processing fee at every step).

What a fucking headache. The transaction and exchange fees are really digging into my money.

Why is this system in place? is there really not an easier way? Why cant they send GBP? Why does nobody ever mention this crappy system?

>> No.1837409

why are people on /biz/ so goddamn dumb?
just buy yourself an "anonymous" iban card and open a coinbase acc with the card's info.
problem solved

>> No.1837413
File: 13 KB, 564x676, 1477068533105.png [View same] [iqdb] [saucenao] [google]
1837413

>mfw buttcoiners say this is the way of the future

>> No.1837432

>>1837409
>just buy yourself an "anonymous" iban card

but how/where the F**** do I get one of these?

>> No.1837437

>>1837432
off yourself underage / fbi
B&

>> No.1837448

dont you have localbitcoins in the uk? cant you just use that to get some brit to send you pounds?

>> No.1837476

>>1837378
I buy with my debit card but I've never sold any coins so not encountered this yet

>> No.1837537

>>1837448

ughhh..

yeah i guess so, but after a quick look the rates there seem worse than the exchange fees

This is all so much more annoying than I expected.

I have just tried to verify SEPA transfers with coinbase, so i will see how that goes I guess.

>> No.1837548

>>1837537
it;s just reasonable to think that someone from the European Continent want's to use euro currency

>> No.1837551

>>1837378
>Why is this system in place? is there really not an easier way?
This system makes things easier.
Try getting money from somone US based.
You weirdos just insist on making life harder for yourself.

>> No.1837558

>>1837378

so use an exchange better suited for your needs

>> No.1837562

>>1837537
i thought the rates are higher when selling due to the premium the price is at on localbitcoins?

>> No.1837571

This is what happens when you use cuckbase.

Transfer your bitcoins to localbitcoins and sell them using national bank transfer

>> No.1837584

>>1837562
Depends if you are a market maker or a offer taker.