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[UK] Tip for getting your money out of Binance and into a UK bank account

Binance

Cryptocoins Exchanges / Binance 256 Views

With Binance's UK faster payments being suspended and the Visa transfers having a 1% fee, I was looking for a cheap and simple way to get my money out of Binance and into £££ in my UK bank account.

I've found a pretty simple way to do it:

  • Convert your assets to Litecoin (LTC) on Binance
  • Send your LTC to Coinbase Pro
  • Trade your LTC for GBP on Coinbase Pro
  • Transfer the GBP to your UK bank account

The advantage of LTC is the fees are dirt cheap regardless of the amount you transfer (0.001 LTC per transfer) so the more you transfer, the cheaper it gets. Coinbase Pro has no UK bank withdrawal fees.

Yes there are cryptos with even lower network fees like NANO, but Coinbase Pro won't let you sell those for GBP so it adds a load of hassle.

Hope this helps someone!

submitted by /u/ruthless_apricot
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