Proper way for FIAT to CRYPTO

[Gnick]

I am currently buying crypto from a company using kraken and binance.
I've tried different EMIs to make SEPA transfers to exchanges, but they only let me do it up to a certain turnover and then they ask for the essence of these transactions and close the account.

What are the solutions to do this more correctly?

Can anyone advise some crypto-friendly EMIs, or another way to buy crypto from a company.

I currently have companies in UK, Honk Kong and Poland, but may consider other jurisdictions to open a company.

 

[VESTANON]

@Gnick

i can deduce a few possible scenarios thus far.

1.probably your volumes
2.Entity used in purchasing crypto
3.moreso your purchase method on the Emi might not be an appropriate enough method

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[Gnick]

VESTANON said:
@Gnick

i can deduce a few possible scenarios thus far.

1.probably your volumes
2.Entity used in purchasing crypto
3.moreso your purchase method on the Emi might not be an appropriate enough method
Click to expand...

1. About 200k EUR per month
2. Currently I use Latvian and UK companies
3. What I should use?

 

[hlepic211]

Gnick said:
1. About 200k EUR per month
2. Currently I use Latvian and UK companies
3. What I should use?
Click to expand...

You need a proper bank with minimum questions. Try Bank Frick, you can apply remotely. A few things you should consider:

The more volumes and higher transaction frequency - the higher the chances that they open you an account.
Latvian & UK companies are OK.
You'll need a min deposit of 400-500k, that's what you specify in your application or else they won't even get back to you.
Can open remotely if approved with certifying signatures at your local notary.

 

[Gnick]

hlepic211 said:
You need a proper bank with minimum questions. Try Bank Frick, you can apply remotely. A few things you should consider:

The more volumes and higher transaction frequency - the higher the chances that they open you an account.
Latvian & UK companies are OK.
You'll need a min deposit of 400-500k, that's what you specify in your application or else they won't even get back to you.
Can open remotely if approved with certifying signatures at your local notary.
Click to expand...

Thanks for the advice, but I'm looking for cheaper solutions. Not ready to put 500k into a bank account yet

 

[hlepic211]

Gnick said:
Thanks for the advice, but I'm looking for cheaper solutions. Not ready to put 500k into a bank account yet
Click to expand...

No problem. You can use the 500k to buy crypto the first day they open you an account, just to be clear there's no need to leave it in the account.

 

[esotericist]

hlepic211 said:
No problem. You can use the 500k to buy crypto the first day they open you an account, just to be clear there's no need to leave it in the account.
Click to expand...

Banks let you do that? I think HSBC lets you open an account with 100K deposit. Are you saying I can instantly use that 100K that I deposited?

Are there any advantages of having an account with one of the big banks these days? I assumed the neobanks ask less questions than the big banks like HSBC / Credit Suisse.

 

[hlepic211]

esotericist said:
Banks let you do that? I think HSBC lets you open an account with 100K deposit. Are you saying I can instantly use that 100K that I deposited?

Are there any advantages of having an account with one of the big banks these days? I assumed the neobanks ask less questions than the big banks like HSBC / Credit Suisse.
Click to expand...

In my experience I had way less problems with banks but a shitload of problems with EMIs
In the case with Bank Frick yes they let you do that, you can let it sit there for a week or two and then start moving partially to exchanges. Kraken deposits/withdrawals are processed within hours.
There's no "lockup" period for the initial deposit.

 

[CyprusLaw]

hlepic211 said:
In my experience I had way less problems with banks but a shitload of problems with EMIs
In the case with Bank Frick yes they let you do that, you can let it sit there for a week or two and then start moving partially to exchanges. Kraken deposits/withdrawals are processed within hours.
There's no "lockup" period for the initial deposit.
Click to expand...

We can assist with Bank Frick, potentially without the deposit requirement as well. Bank Frick takes their time with the onboarding but they are very trustworthy once the account is opened

 

[XanaX]

Hello, does anyone know if Binance.US trades p2p?

 

[diatessaron]

XanaX said:
Hello, does anyone know if Binance.US trades p2p?
Click to expand...

They don't.

 

[XanaX]

diatessaron said:
They don't.
Click to expand...

What's OTC? I saw an option fo OTC trading.

Meanwhile does anyone here buys usdt or usdc in exchange for dollars? Reach out to me. I trade usdt daily. Payment option is bank transfer within the US

 

[XanaX]

Gnick said:
I am currently buying crypto from a company using kraken and binance.
I've tried different EMIs to make SEPA transfers to exchanges, but they only let me do it up to a certain turnover and then they ask for the essence of these transactions and close the account.

What are the solutions to do this more correctly?

Can anyone advise some crypto-friendly EMIs, or another way to buy crypto from a company.

I currently have companies in UK, Honk Kong and Poland, but may consider other jurisdictions to open a company.
Click to expand...

Must you buy crypto direct from binance? Don't binance have OTC where buyer can meet seller

 

[JohnnyDoe]

There are plenty of US exchanges to choose from. I don't understand your problem.

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[diatessaron]

XanaX said:
What's OTC? I saw an option fo OTC trading.

Meanwhile does anyone here buys usdt or usdc in exchange for dollars? Reach out to me. I trade usdt daily. Payment option is bank transfer within the US
Click to expand...

OTC means Over the Counter. It's for large volume trades. In this case you deal with Binance. Unless you have 100+ million to trade they won't even waste their time.

 

[JohnnyDoe]

diatessaron said:
OTC means Over the Counter. It's for large volume trades. In this case you deal with Binance. Unless you have 100+ million to trade they won't even waste their time.
Click to expand...

They do for $100k-ish

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[diatessaron]

JohnnyDoe said:
They do for $100k-ish
Click to expand...

I've made OTC trades with Binance in the past, it was less than 100k but their minimum has increased, at least for Bitcoin. There's absolutely no reason for anyone to go through their OTC desk for 100k. I can sell 10 million on spot and the market won't be affected at all.

 

[Levisto]

I know a UK Company able to do Joint Ventures with buyer/sellers and exchange the funds each time they can accept Fiat or crypto and they exchange over Binance or Coinbase.
They can do dayly good amounts and increase step by step. They take a fee on each transaction.

 

[prototypevenom]

Levisto said:
I know a UK Company able to do Joint Ventures with buyer/sellers and exchange the funds each time they can accept Fiat or crypto and they exchange over Binance or Coinbase.
They can do dayly good amounts and increase step by step. They take a fee on each transaction.
Click to expand...

Can you explain more about this?

 

[lostguy]

you could simply open a kraken or advacash account and move the crypto to fiat to your bank account.