Advice on foreign currency (USD) bank account

[umar_m]

It might be more than capital gains tax if trading is involved. That's what I'd like to find more about.

 

I know about Revolut, I use almost all of the banks in that league (Monzo, Starling, N26). For buying, I'd recommend looking at CEX.io as well. They don't charge anything for deposits and offer GBP transfers. I used Coinbase before similar to how you've described, but I'm probably going to switch to CEX.io as they have better fees and are London based.

 

Can't say much about a good time to buy, my guess is as good as anyone's. But looking at the previous two forks, they didn't affect the price going upwards.

[Waldo]

It might be more than capital gains tax if trading is involved. That's what I'd like to find more about.

 

I know about Revolut, I use almost all of the banks in that league (Monzo, Starling, N26). For buying, I'd recommend looking at CEX.io as well. They don't charge anything for deposits and offer GBP transfers. I used Coinbase before similar to how you've described, but I'm probably going to switch to CEX.io as they have better fees and are London based.

 

Can't say much about a good time to buy, my guess is as good as anyone's. But looking at the previous two forks, they didn't affect the price going upwards.

 

I'd be interested to hear what you learn regarding tax treatment of crypto.

 

Worth mentioning (though, am sure you'll have found this yourself), with the bank > revolut > exchange thing, it can take a few days to get funds on to an exchange; in which time prices can change (go up) a lot. I found this when I bought bitcoin after the China dip. So worth looking in to options for buying bitcoin more instantly, localBitcoins.com seeks okay, not sure if you've found any other options?

 

Not sure about price either to be honest, sadly don't have crystal ball. Just my feeling based on watching a few YouTube videos and podcasts and stuff. Also, price has risen so sharply recently, it just seeems incredulous for it to keep going up. But then, it's surprised me before!...