Crypto: UK Travel Rules. Giving Up Your Crypto Anonymity - Or Do You?
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- Опубліковано 21 лип 2024
- UK Crypto Rules - Update about being forced to give up your crypto anonymity because of the rules that came into force in October 2023.
Sorry about my sniffing, I have a cold.
Last week, I made a video where I talked about the implications of losing our crypto anonymity.
In my opinion, the UK's new travel rules are poorly designed and unnecessary. While I believe that good regulation can help promote adoption, these rules seem misguided and likely to do more harm than good.
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In this video, I will be covering:
00:00 Welcome
00:19 We are all on the same learning journey
00:32 My Trezor wallet was not hacked
03:06 UK travel rules update
07:11 Nexo
10:04 Uphold
13:19 Bisq
14:13 Cardcard Wallet
14:58 HodlHodl
What is the Bitcoin Halving: / the-simple-purpose-of-...
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Coldcard Wallet
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#crypto #anonymity #uktravelrule #hodlhodl #nexo #uphold #coldcard #bisq #bisqexchange #cryptonews, #bitcoin - Навчання та стиль
Uk rules are horrific. I'm having troubling using my own legally obtained money at my bank of 30 years, or when trying to buy gold. They want proof of how I obtained it. I committed no crime and paid taxes on my gains. Yet I can't buy something without proof of innocence! Fascist is the word.
Thanks for taking the time to comment.
This is a common comment that's been posted to my video over the last few days and I will be doing a video on this soon. Watch of a UA-cam notification from me about it.
Cheers, Will - 😎
All about control. Stand strong Bitcoiners
I couldn't have put it better myself! Well said indeed!
Have a great day, Cheers, Will - 😎
All about western ZOG regimes taxing the hell out of the slaves !!!!
Quite right, the government cannot function without control.
Bitcoin is Love 💜
Dont leave your crypto on exchanges, move it backwards and forwards as you need it.
Get yourself a good hard wallet and keep it safe. There may come a time when these corrupt governments will try to seize your crypto through the exchanges.
Be safe and never forget (not your keys, not your crypto)
How can we still buy kyc free? Btc and xrp I'm into but I don't know how to get them kyc free and just on a paper I can write and trust myself but noone else, no hard soft cold wet dry stupid 3rd parties wallets.. Is it possible to obtain them like John McAfee style??
@@pruost decentralized exchanges if buying with crypto or look into peer to peer solutions
i have some cryptos left on cex.. i cant be bothered to withdraw it.. i'll do it when i care again
@@pruost
It's possible to buy using stable coins and swap coins within hardware wallets like d'cent. Not 100 per cent, but think you can do the same with ellipal and ledger wallets.
@@dorothyblair6741 you don't have to register with your name or anything while purchasing or transferring to the hard wallet? But which platform can we purchase then just get the key code to ourselves without kyc?
Never complying.
My privacy is not up for debate neither should anyone else's be.
Over my corpse and even then they won't get a single letter of info from me.
Well said indeed! I'm not going to comply either.
If you have any advice or experiences, please do let me know?
Cheers, Will - 😎
Gorvements wants to shutdown and control crypto before they introduce their own CDBC's so they can control literally everything.
You need private crypto then- monero,arrr and dero
they seize my private property and see all private stuff no matter how i try to keep private.... the key is just to not comply, never assist.. and if u still got ur integrity cos of never assisting them .. they can take our stuff but never win
@@nicotoscani1707But if they've taken all of your assets/stuff and the only thing they've left you with is your dignity, then they have won only in your head you think you've won lol.
totally bonkers the amount of info the banksters want from us. literally have to ask persmission to take money out of my account. WTF! I believe they are fully aware that their time is up with blockchain tech in the scene.
great work!
Hi Joey,
I totally agree with you. The whole thing is mad and to be honest, it's all really ticking me off and I'm trying not to swear here.
I'm going to keep researching and making videos on how to stay anonymous for as long as I can.
Like I said in my video, I got into Crypto to be private and this whole travel rules rubbish is a Ruse to control us and tax us more. Sorry, I had better stop or I'll be on this all night.
If you have any experiences you think would make good video content or help others, please post here or email me. My email address can be found on my UA-cam Channel home page.
Thank you for taking the time to comment.
Cheers, Will - 😎
Not only that but financial firms if you work for them want information pre trade.
HSBC sent me email saying they have limited my transfers to crypto to 10K a month. A load of guff taking about due to lack of regs, scams etc.... I emailed to tell them I only transfer to Gemini from HSBC who are FCA reg, so does this apply? Never received a reply, emailed twice. Thankfully all cash required is in cryto now...
@@phungyi4947facts!!!
I don't think its the banksters. It's the government that wants all our info and to control us. But then again, it's the banksters that truly run the government.
"I don't really have a problem with that".... Understandable. All of us have felt that at one point or another. But that is why we're here. It's none of the government's business what you are spending your money on unless you are suspected of commiting a crime and they're doing an investigation.
Thanks for taking the time to comment.
I completely agree with you!
Cheers, Will - 😎
have just come across your videos, Bitcoin Biker. Thank you for doing them - much appreciated, especially as another 'mature-ish' Brit who is literally just getting on board with all this (it's been on my radar for a number of years but I just never got around to it till now). You mention Nexo - I've just looked them up and it looks an interesting company - but from what I've found on their website, their Nexo card business is based in Lithuania... (?) even though the company is headquartered in Zug.
Thank you for the valuable nuggets of info on your videos!
Thanks for sharing about the no KYC exchanges. Would love to see a video on current non KYC exchanges available.
Coming soon! 😎
Just found your channel , it’s nice to see a normal guy from the uk trying to help others who are just like yourself.
Just subscribed 😊 ex pat living in Australia 🇦🇺. Late bloomer navigating the Crypto World hopefully to make some profits for my impending retirement in a few years. Nice to see other like minded mature people learning about crypto and trying to make a go of it.
Welcome aboard!
Thanks for taking the time to comment.
It's also nice for me to see other people our age doing our best to find our way through.
As I said in my video, we are all learning and I am learning with all of you.
I hope you are a bit warmer than us in Australia, because it's a bit nippy here in Blighty!
Have a great day, Cheers, Will - 😎
Well done, I'm looking forward to your Bisq video.
Coming soon!
I have some more work and research to do, but as soon as I have it under my belt, I'll post a video about it. Fingers crossed it all works 🤞🏻
Have a great day, Cheers, Will - 😎
The 0 transfer attempts are automated. The blocks are scanned for transfers then an address with similar components is generated.
The 0 transaction is just so it appears in your recently interacted with list in hopes that you accidentally click it when you go to make the next transfer. But it's not a targeted attack and there isn't anything trezor could do about it other than hide 0 val transfers from you.
I worked at dex for a few years and still do work to identify and combat scams/scammers.
💖Thank you so much for the info you share. We all need to do this 💖👍 (Brit in Canada) Control coming everywhere.
You're most welcome!
Thank you, just found your channel and subscribed. Looking forward to more. Very much needed and appreciated. Thank you. Bless you.
Welcome aboard!
My next video will be on Crypto Tax in the UK. I hope you find it useful. If you've subscribed and selected the notifications option, which is a bell, you will shortly be getting a notification from me.
Cheers, Will - 😎
I'm glad you mentioned that test from uphold. I received a email from kraken a few hour ago explaining about gov rules and I have to fill out a form about what I know about crypto. I emailed back to more or less say it's nothing to do with anyone about my knowledge about crypto.
Hi Robert,
Thanks for posting this, I have also had the same email, I think we have all had it and I intend on sending them the same message back as you this morning. The can shove it as far as I'm concerned.
I'll be doing more videos on this and other types of custody in the new year.
Thanks for taking the time to comment.
Cheers, Will - 😎
I recently had to answer some questions via my Revolut wallet.
It's not that bad really.
It was 5 questions & you need to get all 5 correct to continue using the Wallet.
Eg one states not to invest more than 10% of what you earn.
You do get 12 attempts with a 24 hour break between each attempt.
There are some learning material to read first, which contains the answers they want, so best to go through it first.
Its nice to listen to someone from the uk, trying to figure out what works and what doesn’t for us here. Please keep up the good work. You have my like and subscription. Need to go back and cover all your other videos now lol , as I found you by accident. So glad
Thank you.
I have more Crypto videos planned, so I hope you like them.
Have a great day, Cheers, Will - 😎
@@btcbikerI’ve literally just stumbled on your vid too. Liked and subbed 🎉
Me also!! I stumbled across this channel and immediately subscribed. I like the concept of 'we are all on this journey together', it makes me want to get involved lol
subscribed..... I am kind of an old, early adopter, but always nice to se the community growing .... keep staking sats !!!
Thanks, will do!
They won't require the same when they release crypto ETF's. They are making it harder to buy now as the banks want to collect the fees. At the same time they are making the workplace pensions more risky by opening them up to startup funding which also incur more fees for the banks.
I agree with you completely. 😎
Thank you for sharing knowledge
You are most welcome and thank you for taking the time to comment.
I have some more videos planned, so I hope you like them too.
Have a great day, Cheers, Will - 😎
Just subscribed, refreshing, honest, real discussion...
Thanks for taking the time to comment.
I hope to keep all my up and coming Crypto video in this format and hopefully they are place we can all learn from each other together.
Cheers, Will - 😎
What youve described is a dusting attack where many many wallets will be sent a tiny amount of crypto in an attempt of you clicking on it and signing a transaction allowing them to drain your wallet. Nothing to worry about just dont click on them and agree to anything.
Shouldn't a hardware wallet make this a useless attempt?
@@moneyneversleeps258 nope. They hope you click on it and sign a transaction then they take what they can.
Great video nice to see someone else from the UK. I would be very careful when using certain accounts that just require a simple email for account creation. Strange one about uphold as I have never had to sit any test. Maybe the criteria has changed to open an account. As I'm sure you're well versed, never keep your crypto for long on an exchange. Liked the video and I've just clicked follow.👍
Things have changed and did in October 2023 in the UK.
Get 2 cold wallets. Keep one empty and when you want to xfer out of (or in to) an exchange, use the empty one. Then send the BTC to wherever you want. If the exchange want to know who the BTC went to, you can say you sent it to yourself. Keep the rest of your crypto on the second wallet and channel everything through wallet one (in and out)
WHat is the purpose of it? If they want to find your wallet 1, they just have to follow the money where it came from and they should reveal both of your accounts. - I dont understand the benefit can you explain a bit further please?
This is not about hiding wallet addresses. This is about security.
Just subscribed! Great content from a fellow British btc biker😎👊🏻
Hi Nicholas,
There are very few of us BTC Bikers in the UK. I thought I was just about the only one. I was going to name the channel Bitcoin on a GS, but it didn't sound as catchy.
It does seem that my Crypto videos are way more popular than my motorcycling videos, so I'm going to take the channel more in the Crypto direction.
Thank you for taking the time to comment and nice to meet a fellow BTC Biker in the UK.
Have a great day, Cheers, Will - 😎
Thank you Sir!❤
Keep up the great work great to have a uk guy explaining the way through the mine field
Great vid and great channel. Keep the crypto vids coming 👏🏻👏🏻👏🏻👏🏻
Thank you - I will.
Cheers, Will - 😎
This is very informative. Thank you❤
Thanks for sharing your experience. I found it very useful.
Hi Silvia,
Thanks for commenting, I'm glad you found it useful.
I have some more follow-up videos planned that will go into a bit more depth as well as some others. So, if you're not subscribed already, please do so, so you get a notification when I post the next one.
I always say: We are all learning together, so if you have any experiences that you think we all might find useful, please share with us here, and if you have any suggestions about Crypto content you might like me to cover, also let me know.
If you prefer to not post in a public place, you can email me at will@flipinheck.com
Have a super day, Cheers, Will - 😎
Thanks 🙏
Merry Christmas 🎄
Expat Australia 🇦🇺
Nice content 👍🙏🏻
Thank you. I'm glad you found it useful.
Cheers, Will - 😎
Very informative... You just got a new subscriber from Denmark today. 😊
Welcome aboard and hello in Denmark. We have been there loads of times. I'm guessing you are as cold as us in the UK right now.
Thank you for subscribing. I have more videos in planning so watch out for new notifications from me.
The UK Travel rules that I speak of in the video are in fact the EU travel rules. How is it effecting you?
Cheers, Will - 😎
I came across you tonight. Very interesting. I’m determined to move into the digital coin age in 24. We appear the same age too. I have a successful business at min but need diversification. I will be watching. Thanks.
My UK bank now restricts the amount of money that I can pay into any crypto platform/month “for my own safety” they will however happily take an unrestricted amount from my crypto back into my bank account. I am just keeping my fingers crossed that I can still cash out once the post halving mayhem starts later next year. I’m an old bloke who has been in crypto since early 2017 and held through 2 crazy bull runs, through a mixture of greed and stupidity. I’m not going to make the same mistakes again (hopefully). As for the tax question some re asking about. As far as I’m aware CGT applies on any profits withdrawn over £12k/year. So keep records of your purchases people. I am hoping that I’ll need an accountant 😊
CGT is now 6K, also any airdrops are classed as earnings i think plus (staking and delegating)
I'm going to do a video about this, but as from April next year the CGT allowance is dropping to £3k 😢
Crikey I’m out of the UK in my van in Morocco at the moment and obviously out of touch!
@@carlsimons5783does this CGT only apply, when you cash out to your bank in fiat. Or does that mean when you have reached/passed said threshold in crypto ? @btcbiker
I got no issue paying tax if I take out significant profits, no issues at all. Take it. It's the freezing of accounts, not being able to buy and sell at the right time because they think it's appropriate to freeze or restrict me and ask questions. I had to have arguements with Barcalys fraud dept several times during the last bull run because they wouldn't let me transfer in to coinbase / kraken and kept restricting me so I missed out on trades. It's madness. My money let me spend it. If I go to a casino they won't object to me cleaning out my bank account.
Thanks .. Good Job
Revolut also put you through a test to buy crypto. Thanks for the info and great to see a uk based crypto youtuber!
Great Video and thank you for your time.
Glad it was helpful!
Thanx for the info. Sharing us caring. Things change in this mkt by the day si qell informed is playing safe
Liked and subscribed. I would love to hear as much as possible about crypto privacy in the U.K.
Ps mine is a Ducati v4sp2. 😉👍🏍️✨
Hi there,
Thanks for taking the time to comment and thank you for the like and subscribing.
Mines a 1200GS 😎
I will certainly be doing more Crypto videos, they seem to be much more popular for my channel than motorcycle videos...
I have a possible three video planned:
1/ Bisq, which is a DEFI no KYC exchange which allow you to off-ramp to GBP.
2/ Coldcard wallet. I just bought one and want to get rid of my ledger. I'll tell you why in the video.
3/ Tax on Crypto profits in the UK.
Al lot of work, but look out for the notifications from me.
Maybe we should arrange a Crypto Bikers Meet-up sometime. I'm in Hertford.
Cheers, Will - 😎
Same boat mate keep up the good work
Hi Dave,
Thanks for posting.
It amazes me how there are so few people on UA-cam posting about this and suggesting alternatives.
I'm going to keep testing and will post more videos as I get more info.
If you have any ideas or experiences, please post here or email me at: will@flipinheck.com
Cheers, Will - 😎
Thank you so much for your info regarding how to go about privacy and how/where to exchange crypto into fiat as there is so little information available. Keep up the good work and looking forward to your next post.
Very interesting. I've been into crypto for a couple of years now and am extremely worried about the UK's clampdown on it. We can all learn stuff together so keep up the good work.
I hope so too and I hope that all my future videos help us all on the learning Journey that we are all on.
Thanks for taking the time to comment.
Cheers, Will - 😎
Hi it is nice to see someone fro the UK a similar age to myself into Crypto, Thanks for the info I will look into what you mentioned in this video. All the best.
Hi Gary,
Thanks for commenting.
I will admit that I feel a bit like a dinosaur in the space sometimes and on my own, so it's nice to know that I'm not alone.
As I said in my video, I'm not an expert and I'm on this journey of learning with everyone else and there have already been some amazing comments to this video which I've got a lot from.
Lets hope we all become super rich in the next bull run.
Have a great day, Cheers, Will - 😎
@@btcbiker hi
Yes it will be nice, I did the millionaire to broke in 2017 but I got it out last bull so can’t complain. My issue is I am disabled and have been on very strong meds fo 30 years that have left me with almost zero short term memory so it takes me so long to learn anything. It really is a pain, I have a one at a time memory only one memory will stay making learning very hard. My poor wife of 44 years also had a heart attack on Monday so I missed a lot of content ,she left hospital withe the dam flu which is not nice. Any way keep at it and you should make a lot of money. All the best and luck with your trading.
Gary.
Great informative Chanel, I have now subscribed. Nice work.
Thank you and thank you for subscribing to my UA-cam Channel.
I do have more videos planned and I'm always open to suggestions and requests from anyone. My email address is on the channel home page: youtube.com/@btcbiker
Have a great day, Cheers, Will - 😎
Thanks for sharing. Yeah, fishing attacks are all over the place.
Phishing attacks on cold hardware wallets are not something I have delved into much, but there doesn't seem to be much on UA-cam about it, so I'm planning on doing some research and I'll post a video as I know more. If you have any useful information, please do send it to me. My email address is in the channel home page.
Cheers, Will - 😎
@btcbiker Would be a great video topic. Yeah, hardware wallets must be harder to target, but I'd still be careful as you were when accepting strange tokens, as you never know what's in the token or its smart contract. My friend got fished by using some software that was meant to help him with his tax, but that was with his browser wallet a while back.
Swiss here. Your pronunciation is just fine.
Dude, your Empathy is real, it makes me smile, this is Bitcoin. Enjoy your journey m8e.
I was looking to chop in some IOT the other day and looked up Orca finance and it was blocked by the UK FCA, I couldn't be bothered to use my VPN because I discovered you could change it in the helium wallet. But it just goes to show how much control is going to be exerted.
I live in the USA 🇺🇸 and I had uphold for over 2 yrs until one day they accuse me of international trading and said I did something I never signed up for or did my knowledge and wanted my bank statements and I said hell no so they got mad and closed my account and I was just astonished how I followed all the rules and they did me like that…thank god I moved all my investments off there exchange before that happened now I just basically keep everything cold 🥶 now….don’t trust uphold..you at risk and they will close your account before you know and lock 🔐 you out…you’ve been told…your choice…and I’m new subscriber biker just now found you I’ll be taking notes keep up the good work bro 😎 USA 🇺🇸
Thanks for taking the time to comment.
I signed up for Uphold and soon realised what they were like. Thank goodness you got out in time.
It's great to have subscribers from across the big pond, thank you for subscribing and you are a fellow biker too. I have a BMW R1200GS, although it's a bit cold here in England right now to ride for me.
I have recently produced a video on the Bitcoin Halving, the easy verysion without any techno-babble. I'm not sure wether to publish it or not, some commenters are not so nice and it could leave me open for a load of abuse from the Keyboard Warriors.
Have a great Sunday.
Cheers, Will - 😎
Just subscribed - nice one dude!
Thanks for taking the time to comment and for your support.
Cheers, Will - 😎
When I was moved from Binance international to Binance UK, I was forced to take the same test to prove that I knew what I was doing with Crypto.
Appears to be extra obstacle they have made the exchanges do this by the UK regulators.
What sort of questions were you asked?
@@scottjarvis4986 It was a month or so ago, so my memory is not the best.
I think there was some text and videos guiding you on what you were meant to know.
The test questions felt you were meant to answer with expected answers rather than what you understood.
I cannot remember all the questions, but here is a feel for what I can remember
A question about what kind of risk you were taking in investing in crypto.
What percentage of your portfolio was the amount of crypto you had.
How much were you going to invest in crypto over the coming year.
Etc
I’m a serious biker (3 currently) and also a hard core crypto enthusiast since 2017! Love bikes and love bitcoin ❤! Keep up the great work you have another subscriber
Hi Simon,
Thanks for taking the time to comment.
I was saying to some other commenters who are also BTC Bikers that I thought I was the only one! It's nice to know I'm not alone.
Maybe I should set up a group called the BTC Bikers MC?
If you happen to be anywhere near London or Hertfordshire, drop me a line and I'll meet you for a coffee. will@flipinheck.co.uk
just found your channel and wish there was more english crypto users om youtube to speak about keeping your own money but you all need to make sure you dont say to much in the community too as you never know whos watching take care and keep up the wotk
Hi John,
Thank you for taking the time to comment and thank you for your support.
You are right about not saying too much in the comments, you do never know who is watching! I would certainly hope that I ever say anything that gets me into any sort of trouble, that the community would tell me.
Cheers, Will - 😎
i dont sleep much lol ,sleep aponea @@btcbiker
thanks ..blessings to you brother :)
Same to you!
Great video mate, look forward to hearing how you get on with the new hardware wallet.
Thank you for commenting and I'm glad you liked my video.
I have a few videos planned that will cover the things I talked about in this video in more detail as well as some others. The biggest job is doing the research before the video.
If there is anything that you would like me to cover, do let me know and if I can, I'll add it to my video list.
Thanks again for taking the time to post.
Cheers, Will - 😎
Thank you 🙏🏼
My pleasure 😎
Subbed. Love the content keep it up
Thanks, will do!
Totally agree - NEXO is spot on - thank you guys!
Sadly they are not allowing new uk customers due to uk crypto travel law in October 😢
I always keep my crypto on my ledger wallet, I am from the UK and have zero issues with moving and cashing them out when needed. One thing to note tho I am not very happy with the Capital Gains Tax. I have no famliy and nobody is helping me to buy a property or nobody will be around when I am old. So I see BTC as security for my future. However giving away 25 to 40% to government is mad.
They try everything to block you when you are suffering during the investing process. However when it comes to cashing your profits out they're just there with open hands waiting for you to give almost half of it to them.
What do we get in return after paying taxes? Exteremly long, sometimes impossible to be seen NHS services, many people who is tricking the system and claiming benefits as well as working secretly and getting paid by hand (paying no tax). I know for a fact these types of people and makes me sick. Why government is not going after them but coming after me for my profits?!!!
Helpful video thank you 🙏
You're most welcome 😎
Thankz
Wallet addresses are public and visible on blockchain explorers, so even without posting your address anywhere, ppl can filter for various things like coin holdings and send those kinds of phishing nfts and transactions. Doesn't mean they know who the owner of the address is
Apologies if I'm wrong here, but if you've used an exchange that has required full KYC, and that exchange is one day bought out by the likes of Blackrock, wouldn't they then have access to your full details, holdings, bank details, etc?
@@thedrawback3855 it would yes. But if you transfer out of the exchange to an anonymous wallet then you have anonymity from there onwards.
@@thedrawback3855 How can we still buy kyc free? Btc and xrp I'm into but I don't know how to get them kyc free and just on a paper I can write and trust myself but noone else, no hard soft cold wet dry stupid 3rd parties wallets.. Is it possible to obtain them like John McAfee style??
Yes they really would :) @@thedrawback3855
@@thedrawback3855 presumably as far as the data protection regulations allow (idk enough about it) they would have access to the details you shared with the exchange, further as centralized entities exchanges can be pressured by enforcement agencies to disclose those details.
Yup! Nightmare! Just had help desk reply from nexo when I tried to open an account stating they are not on boarding new uk customers due to new uk rules
Thank you for getting back to me. That's really bad news! We are being shafted from every angle in the UK. I am already doing some more research on this. I am away until the 2nd Jan, so will be making more videos when I get back. Would you mind pasting a copy of the message they sent to you here, you can leave out any personal details of course. If you can post as a new comment, that would be great. Cheers, Will - 😎
@@btcbiker will try, think I have a screenshot, not sure how to add it though 🤦🏻♂️
There are two mandatory requirements for financial companies to comply with, that is being enforced by their respective regulator. 1. KYC (know your client) 2. Appropriateness assesment.
The UK is one of the worst places for investing and financial freedom - for the average citizen. Its all weighted against you. You must get a foregin residency like Portugal to have a chance to beat the old school. They are battling to take control and you have to be smart and do your homework - dont allow them to give up your crypto!
Do share with us all about how you obtained residency in Portugal?
First time finding your content, thanks. In summary what are these new FCA travel rules? Sounds a bit 'panic-mode' if you ask me.
So much to learn but exchanges seem to be the major issue right now, even if you don't care and just want an account to get started with small amounts and don't care about privacy from the government. Getting on one (or 3) is vital to get ready for the upcoming blow up, but the whole kyc thing along with the test seems a bit like government overreach. The whole concept seems like a viable existential threat to the traditional banking system which makes me both excited and nervous.
Thanks for the content 👍
Hi Matt,
Thanks for taking the time to comment.
Here's a link that explains the FCA travel rules: ua-cam.com/video/oc4gx8oiryU/v-deo.htmlsi=0upxJMpV-5_uVmgQ
I agree with everything else you said.
Cheers, Will - 😎
Just subscribed based in the uk most crypto videos have been American so this is useful
Thank you, I am glad you liked it. There are more videos in planning so keep a lookout for UA-cam notifications from me. Cheers, Will - 😎
Thanks for the information, i just found your channel. I've been wondering about different websites and cold storage. Also about these new debit/credit cards that you can directly transfer crypto onto for cash and back again? They seem good but not much info about them.
Thanks for taking the time to comment.
There are lots of them and I've tried lots, most of which I stopped using for one reason or another. That said, I am still using my Ruby Crypto Dot Com Card.
If there's an interest, I'll post a video about it, but even though they are based in Singapore, they have fully taken on the Travel rules and applied them to all UK customers.
Cheers, Will - 😎
just decided to subscribe to you, in the uk myself and the whole crypto uk thing is doing my head in, kinda now only left with uphold to offramp now I think
if you find a better solution please post a video about it and thanks again
Hi Glen,
Thanks for taking the time to comment.
I will be posting a video about it because it's doing my head in too and I'll go as far as to say, it's making me feel trapped and anxious.
I have a couple of possible solutions, so as soon as I get one to work, I'll post a video about it with an example tutorial.
Cheers, Will - 😎
Thank you. I have just found your channel. It was exactly what I needed.
I have invested most of my money that I got from selling my home and am now worried that when I come to cash it in hopefully next year I will have problems. No doubt I will but my biggest fear is freezing of an exchange account. That would ruin me.
Cold storage, and try a little bit at a time!!
Don't hold value on exchange. Look into cold storage as above poster has said.
Thanks for taking the time to comment.
Both @imranh8480 and @BTCfortheMasses are right. Moving off an exchange to a cold wallet will now invoke questions from the exchange you have it on if you are in the UK. They will want to know who the cold storage wallet address belongs to, but there is no getting around that one.
I bought a Caldcard wallet last week and I will be making a video on how to use it with Sparrow Wallet soon.
Cheers, Will - 😎
Sell a little bit at a time, stagger out as we go up.
Again you are in big trouble get it in cold store so you own it. You need to read up on tax requirements.
It’s not wise to dump your money in like it’s a bet you should save plenty for the low purchasing.
12 month return is gambling don’t gamble.
You should be building to draw a retirement wage and pay 10% tax minus expenses
Sadly the FCA will empise these rules on all exchanges and at some point will go after DEXs. Quick tip if it helps get a VPN you can mask your location.
The Trezor T hardware wallet is very user friendly and a person can stake only Cardano on it at the moment, it links up with the exodus wallet which is very useful theres only about 12 different crypto available for now though. I see that due to regulatory issues in the UK at the moment staking is being withold for Solana on Uphold.
What do you think about Ledger wallet? Heard they are using data for profits
The UK needs to crack down on crypto with it's citizens transitioning to a CBCD pound so that the government can fully control the sheepol.
Or not ;-)
@BTC Biker
Can you test out how to set up & fund the Decentralised XUMM Wallet please, its an xrp Digital Wallet.
Also a Decentralised XLM Wallet.
Thanks.
Random phishing attempts are normal on chains like ETH and XLM, since everyone's address is public you can get sent nft's, or random tokens with memos attached they're not specifically targeting you, it's more of a dragnet operation where they're hoping to get 1/1000 people to take the bait. Best thing you can do if you get them is to ignore them
I'm in the UK and opened an Uphold account a month ago. I didn't take any tests and I have a debit card attached to the account
Fascinating combination, bikes and BTC ! Best wishes sir …
Thank you. 😎
@@btcbiker The SEC didn’t appeal the ruling about Grayscale.
I think the chance of the ETF approval next year is very high. Exciting times, best wishes.
Nice work and much appreciated. I've subscribed. In terms of Uphold, all the exchanges are asking for "test" in order to be compliant with FCA regulations. Basically a tick in the box exercise.
Thanks for taking the time to comment.
You are right, I have just done one again with my Bitstamp account.
Cheers, Will - 😎
i had to do one with binance when a logged in a month or so back. not with any others yet
@@stevey-xw4gz same here
The test tends to be to see how much leverage they can offer you (for a cfd position which isn't the best way to buy crypto imo) and some other trading options which most people don't need. I'd be more concerned with them trying to control/cut-off the on and off ramps between crypto and fiat when you have no privacy left.@@btcbiker
I've had nothing from kucoin, whitebit, mexc or ICP..
Didn't even know about this so grateful for the info
Ignore it. Keep your keys safe. Tread carefully and make many seeds. If you have to give up a seed, you don’t want it all on one seed.
KYC is genrally done with exchanges and anywhere you onboard fiat currency. Once they have that information governments can track transations as this is all on public chains. You can see this yourself by going on somewhere like btcscan and you can see individual transactions and your wallet transactions including your ledger or any other cold wallet. Don't forget the cold wallet holds the private keys not the wallet itself. Regarding the tests they are very simple and I think the questions are driven from the FCA to make the exchange compliant. My view is don't fight it and work the system.
Agree with this.
I've done it & it was only 5 questions which you need to get all 5 correct, but you have a few tries to get there.
Excellent video, I never really watch crypto youtubers, but this one I have
Awesome! Thank you!
Have a great day, Cheers, Will - 😎
Nce one, enjoyed your content. No hype 👍🏼
Glad you enjoyed it.
Have a great day, Cheers, Will - 😎
Hey BTC biker, I just found you and checked your videos. I wonder if you could do a video on how the HMRC thing works here in the UK. I'm new to it and never really declared anything. I've read about it and am very confused about what I have to do. I only have NFTs for games, and all I have is game-related assets. You're very clear at explaining ❤
Hi Artur.
Thanks for taking the time to comment.
I am planning on doing that for my next video. Although, I'm not a tax expert or an accountant, but I will be posting about my understanding of it. I just need to do some more research first.
Keep a look out for a UA-cam notification from me.
Cheers, Will - 😎
That was one of my concerns. If your a know holder. Coming back into customs they could just detain you endlessly
Btw. Same thing happened to me with a Trezor
Yeah it's best imo to memorize your seed phrase and not carry any hardware wallets when you're traveling. You can then download ANY wallet whenever you want to withdraw and just enter your seed phrase to do so.
@@user-xg6yc8ho3wbetter off just keeping your seed phrase written on the inside of the case of your phone
P.s. I'm head injuries and autism job and don't use the net to buy anything and don't do crypto,although freind had 665 XRP with same no of swifts. I've no idea of price but I spent £100 four years ago.
I do collect silver but have stopped buying Brittania ounce coins because......they now have an individual's hologram/ mark on each one. I suspect that government wants to track silver.
Same as these new cryptic rules.
Yes they think we are all stupid!
Any transaction will record your wallet address on the blockchain. And can be viewed on Ethscan or on Btc scan. So fishing attackers would just pull addresses of there.
By the way. Having seen your comments on Nexo I tried to sign-up. I received a message that they are not taking UK based clients at present. I confirmed this with the Nexo support team. The impression I got is that they'll take new UK clients in the future when the rules have better clarity. It seems the blunderbus regulation from the FCA (UK Gov't) needs some tuning. The FCA were not bright enough to spot the UK banks were going bust in 2008 on a surfeit of Sub-Prime Mortgage Securities. So they are probably over compensating now, regardless of the impact on small investors. I currently buy BTC through Revolut, but can visualise that a lot of non-UK Exchanges will give up on the UK.
Hi Charles,
Thanks for taking the time to comment.
I found out a couple of days ago that Nexo has stopped taking on new UK clients, which is very disappointing. I was going to make a video on how good they are, but I'm certainly not now.
PayPal has done the same thing and stopped all Crypto purchases in the UK until they "Know More"...
It is getting worse here and Banks are being ridiculous. In fact, my next video will be about UK Banks and Crypto.
I used to use Revolut but stopped, I have a video planned specifically on Revolut and why I don't use them.
I do like your quote "blunderbus regulation" I couldn't have put it better myself.
Cheers, Will - 😎
I am dealing with Revolut it has become a nightmare. I cannot access my btc funds... like you say "UK blunderbuss rules." This is part of the great reset you'll own nothing and be happy....except if you're a banker of course.
Thanks
You are most welcome and thank you for the contribution 😎 - This video has gone viral. I have another one going live tomorrow at 3pm that you might find interesting...
An interesting video. I'm torn between wanting privacy and wanting protection from scammers. I am no friend of banks, but, I find that I have to defend KYC and banks. My cleaner told me that her father found someone on facebook who has sold him bitcoin and his bank is trying to persuade him that he is being scammed. It seems that the bank is liable to refund the victims of scammers if they don't take steps to protect them. If the bank is liable to make good losses perhaps it is reasonable that they protect themselves and their customers. I feel we need a concerted effort to educate the public and to make life hard for the scammers. Your point is valid that you don't need to take a test to lose money at a casino but casinos are regulated on both how they attract customers and advertise and they do have KYC rules and membership requirements. If your bank was liable to make good your losses at the casino it would take steps to protect itself. Keep up the good work of adding to the debate and education and please remember it is a jungle out there.
Sound to me that you are a man of the same mind as me.
I hope that my videos from now on create healthy learning and debate. I am not an expert by any stretch of the imagination and hope that I'm on the same learning journey as the rest of us.
As for banks, well they just really tick me off. I moved to Monzo who are brilliant and care about sending or receiving funds from a Crypto exchange.
Here's a link if you are interested. join.monzo.com/c/jflfq6m
So, the Public Servants have turned the table and become the Rulers of Servants.
Great video thanks.. Where did you cash into GBP and move it onto Monzo as an Off-Ramp ..? Nexo?
Both! Nexo is great for moving Crypto to Monzo, but then again so is Bitstamp. I will also be doing a video on Bisq soon which unlike the others is none KYC and Peer-2-Peer. The video I'm working on next will be about Tax on Crypto in the UK. I think everyone will like it... 😎
Anonymity is safety. Shame on governments for compromising this for micro Bitcoin transfers.
Paper wallet is the way to go. Just need multiple redundancy.
Yeah i am pretty surprised how many people think crypto currencies are all untraceable. For all those who want anonymity in crypto go and get monero or phantom or secret tokens ... those are privacy focused currencies.
Nexo is great..been using it since 2018..I take loans on my collateral to live on I don't sell crypto anymore to live..because we are moving into the bull cycle..when things moon in a year or s will just pay the loan off and then have the 10-20 x profit.. That's the plan.
That's a brilliant plan, I also do the same thing and think Nexo is great.
I'll be doing a video on Nexo in the next few weeks for anyone who hasn't used it who might be interested.
As I say in my videos "We are all learning together".
Thanks for taking the time to comment.
Cheers, Will - 😎
Theres many ways to pay for your shopping and many many more things with btc, i see you mention trezor. I personally use ledger and i can buy groceries with btc and pretty much what ever i want, i can even spend my btc linked to a debit card in turn i suppose you could pay your council tax etc.
Do tell us more and are you in the UK?
@@btcbiker I am yes, ask away my friend I will be happy to answer any questions you wish..
@@btcbiker bitrefill allows you access to most supermarkets which can be accessed on ledger, groceries right to your door..paid in btc. Good luck 👍
Next year the dwp will be able to look into bank accounts without permission, this includes people on pensions, job seekers, and disabled people.
The competence test is part of compliance, it's a sticking plaster to prevent you from taking them to court to sue them if you lose money on crypto "investment".
I agree and it's p***ing me off!!!
Regarding your eth wallet... its a common thing... i think its called dusting... they use it as a tracking mechanism and some have code in them so yiu should not interact with the token. Correct me if i am wrong.
Thanks for taking the time to comment.
You are not wrong at all. As I said in the video it was a phishing attempt by scammers - They failed.
Cheers, Will - 😎
I used to trade on Binance but not now available in UK.
What is the best exchange to use in the UK which includes coins like KAS PYTH BEAM etc
I have a couple of videos planned for this, so I won't go into it now, if you don't mind. Just watch out for the notifications from me about new videos that I post.
Cheers, Will - 😎