Barclays no longer partners with Coinbase

Discussion in 'Cryptocurrencies' started by mlawson71, Aug 15, 2019.

  1. Barclays no longer will provide banking services to Coinbase and that is affecting UK clients of the crypto exchange as it has lost access to the UK’s Faster Payments Scheme (FPS), which allows instant deposits and transfers in British pounds.

    As a result deposits and withdraws in fiat currencies made by UK clients of Coinbase now take days instead of minutes.

    The reasons for the divorce between Barclays and Coinbase are not yet known, but an anonymous source says the decision might be connected with a process of risk reassessment initiated by the bank.
     
  2. pipeguy

    pipeguy

    Now it gonna give rise to many rumours... but it's definitely the process reverse to the spread of BTC legal use. Is today's slump associated with these news or it's just coincidence?
     
  3. accesssory to money laundering. or accessory to crime laws.
    who uses bitcoin? other than money laundering and illegal activities?
    as for trading it's gambling man.
    you have to 'trust' these people or hustlers with your money.
    these poeople are anonymous and have no fixed address etc. and your wire money to THEM?
    are you stupid or what?
     
    ElectricSavant likes this.
  4. ZBZB

    ZBZB

    How many Barclays customers use coinbase? It was a probably a sparsely used route. Barclays sound a lot more crypto friendly than Citibank who I had crypto problems with.
     
  5. ZBZB

    ZBZB

    Santander have also stopped the faster parents from Coinbase.
     
  6. pipeguy

    pipeguy

    1. Too many people keep money with them
    2. Exchanges are very profitable business
    3. Many of them don't support fiat withdrawals (binance, bitmex, others).

    These are three reasons which reduce chances for them to "deviate" = scam.

    And it is up to you if you want to enter market where many are inexperienced retail investors. The competition is less there so there is higher chance you will find your edge.