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Showing 4 of 4 results by betterhao
I've been following the development in the UK in line with cryptocurrency for a while now, and I must say that I'm not so happy about most of the things I read. The hypocrisy of that nation is much, they could have just announced to the whole world that they've banned crypto instead of making life difficult for crypto enthusiasts by introducing unfriendly rules and preventing businesses around it by blocking exchanges and other business initiatives with sanctions.
Of course, it's not all their financial institutions, but once the strongest are doing so, how long would it take for more issues to arise?
Can you imagine? Banks claim to be blocking people and businesses because of the FTX collapse. How many banks have they stopped because of the ugly past of many UK banks that went insolvent?
The problem of one establishment out of many should never be a yardstick in judging others. For me, these banks are anti-crypto and their actions are high level of hypocrisy.
Of course, it's not all their financial institutions, but once the strongest are doing so, how long would it take for more issues to arise?
Why UK banks are blocking transfers to and from crypto exchanges
As of 2023, many UK high street banks are blocking payments to and from major cryptocurrency exchanges such as Binance and Coinbase due to increased security concerns post the collapse of the FTX exchange.
As of 2023, many UK high street banks are blocking payments to and from major cryptocurrency exchanges such as Binance and Coinbase due to increased security concerns post the collapse of the FTX exchange.
Can you imagine? Banks claim to be blocking people and businesses because of the FTX collapse. How many banks have they stopped because of the ugly past of many UK banks that went insolvent?
The problem of one establishment out of many should never be a yardstick in judging others. For me, these banks are anti-crypto and their actions are high level of hypocrisy.
In the future, I think the UK gov should be cautious. We should be embracing Web3, like Hong Kong did, licensing the CEX, and updating the regulations. Change is inevitable.
Well, whether we like it or not, I think Web3 and DeFi technologies are either THE future of finance or part of it, for sure. So not only UK, but the rest of the countries should take proactive steps to prep and embrace it. This could attract blockchain startups to its shores and build the local economy.
Re: Is it possible to start buying Bitcoin from centralized cryptocurrency exchange
It all depends on what are you looking for. If you want to have more ownership of your assets you might use DeFI (but you have to be really careful because most scams are there due the anonymity) If you want to make future trades and need/want to make paper money for your needs (mainly because a lot of countries do not support crypto transactions or are hard to find) you should use an Exchange. I also know that a lot of people are worried about the constant lawsuits or restrictions of some CEX and the binance exits of this year but this is not going to last forever
It's concerning to hear about Binance mass laying off manpower in the US. I hope they could overcome it soon. And I think doesn't hurt to use several exchanges at the same time (You know, just in case).
How to buy Bitcoin? Since I see CEX like BN has quit, I'm really worried about trading in CEX.
Does anyone have suggestions? How to buy and where to buy, or is it the right time to trade?
Does anyone have suggestions? How to buy and where to buy, or is it the right time to trade?
I understand that you are hesitant to use CEX platforms due to recent issues with BN/SEC. However, CEXs still play a crucial role in this space and often have an advantage over DEXs. In my experience, CEXs have better security measures in place to protect user assets and data, which gives them an edge over DEXs. Moreover, if you prioritize speed along with security, CEXs execute transactions much faster. In my opinion, the concerns about CEXs can be addressed if they comply with regulatory bodies. Once they do so, everything should return to normal.
Yeah, Apart from all these stated, CEXs are very important. As we are seeing most Decentralised Bridge platforms getting compromised these days and millions of funds being stolen while users lose millions of dollars also. I personally use CEX to bridge asset from one network to another by depositing there from one network and withdrawing via another network.
Also, about the right time to buy BTC or not?
The market is speculative. But IMO, this is a very good time to buy . Apart from the market experiencing volatile upward movements, US stocks rose, The market is awaiting US inflation data on Wednesday with core inflation expected to grow by 5% year-on-year e.t.c, there have been good news surrounding Bitcoin lately like Companies managing Trillions filling for Bitcoin ETF. Seems the era of measuring the market cap of BTC in Billions is gonna end soon.
Worth a try, you might change your thought after using it.
Debit card? I'm not sure. But I bet if you google it, there are plenty. The one I've been using, apart from Binance is Bitget (These two are very alike). They are running a Canada exclusive campaign. It's on their website, under "announcement" 
Hope this helps!
Hope this helps!