GM Nostr.

Don’t get used to BTC content on my feed (I mostly block this stuff), but I have a question about it that I think Nostr can help with.

Yesterday, a friend of mine went on and on about buying BTC with fiat in the UK and the risk of being debanked. Apparently, some banks are closing accounts even for people who buy BTC from major KYC-enabled exchanges (e.g., Coinbase, eToro, etc.) and pay their capital gains taxes on it. I.e., folks that ar3 totally within the system. Yet apprently some banks still “won’t take the risk” and will debank you on short notice without explanation.

I was a bit surprised. I don’t buy BTC very often, but I’ve never had any issues myself, other than the usual KYC hassle and the 24-hour wait before your first transaction.

For UK-based BTC maxis: how are you buying Bitcoin right now? Any recommendations on how and where to buy, and how to pay for it?

PS: Let’s skip the “I go to Dodgy Dave’s house in Grimsby and pay in cash” replies, please 🤣

#gm #askNostr #btc #UK