Current Best Option for Business Crypto Off-Ramp

[ggb858585]

I have a Kraken Pro account for my UK Ltd Company, and a Revolut business‌ account.

How safe is transferring from Kraken Pro to Revolut business?... A volume of £20k-£30k‍ per month..

Is Wise a good alternative option?

I have also seen Nebeus and CoinCorner...⁠ does anyone have experience with these or any other?

 

[happyjohn]

both Wise and Revolut has been working fine for me for years with these amounts.‌ Personally I did not have any problems ever with these services with crypto into the‍ acount.

 

[ilke]

Kraken is fine, it is a reputable exchange.

Revolut will not have a problem with‌ it but it should somehow match your business activity, i.e., you should be able to‍ explain why (how, from what source) your business has crypto to off-ramp.

All in all,⁠ pretty safe.

 

[wonderfulboy]

Agree with the others, Kraken, Wise and Airwallex and Currenxies could all work for your‌ needs.

 

[ilke]

No-one mentioned Airwallex or Currenxie and they are not‍ crypto-friendly AT ALL

 

[wonderfulboy]

Yes, I can see that from the link below, and I’m glad you corrected me‌ here. I had just seen a seller offering a crypto solution with an Airwallex account,‍ which wasn’t of much interest to me, so I looked further into it, but now⁠ I can see that it was incorrect.

https://help.airwallex.com/hc/en-gb...-transaction-for-Cryptocurrency-been-declined

So there is
https://genome.eu/
https://payhawk.com/
https://www.mistertango.com/

 

[OVZA LLC]

Honestly, from what I’ve seen, Nexo is the best option here. When you open‌ an account with them you don’t just get a crypto account, you basically get proper‍ bank accounts too, so you can withdraw fiat whenever you need, in small or large⁠ amounts.

I think that makes it far superior to Stripe, etc. Especially when you look⁤ at MDR (merchant discount rates), for some offshore companies fiat MDR can run as high⁣ as 6.5%, whereas with Nexo the crypto conversion/withdrawal fees are around 1%. That’s a huge⁢ difference and gives you much more flexibility and cost efficiency.

 

[shimo]

Are Nexo fee's also the best?

 

[OVZA LLC]

I’m not sure if‌ Nexo’s fees are the absolute best out there, but what I do know is that‍ they work and they work reliably.

At the end of the day, that’s what matters⁠ most.

 

[Clank]

It depends on your overall profile and where the crypto comes from, crypto exchanges are‍ usually not very strict.

 

[alley]

Is nexus a EMI⁠ / bank which can receive payments from crypto exchanges or can you receive crypto directly⁤ there ?

 

[undercover]

I’ve been running funds from Kraken Pro into Revolut Business for a while through my‌ UK Ltd and honestly it works until it doesn’t.

At first the wires slide through‍ fine, then one day compliance wakes up and suddenly you’ve got a transfer stuck in⁠ review limbo. I had a mid five figure amount sit there for two weeks before⁤ they released it, and that was a stress test I don’t want again.

Wise can⁣ be faster on fiat transfers, but they don’t love crypto related business activity either, so⁢ you risk them freezing you if the volume looks off.

Nebeus and CoinCorner are interesting︀ but more niche, good as side tools not as the main banking line.

The real︁ question is how much risk you’re willing to take if one account locks up, because︂ that’s the thing with Revolut, Wise or any EMI touching crypto, they’re fine until they’re︃ not.

 

[ggb858585]

What documents did Revolut ask for in order to︄ release it? Or did they just release it automatically after a couple of weeks?

 

[undercover]

Relesed after a month forth and back! eek¤%&

 

[OVZA LLC]

NEXO is a cryptocurrency‍ exchange, but it operates a bit differently than most. It’s a highly advanced platform that⁠ supports SWIFT withdrawals in USD to virtually any bank worldwide, along with GBP Faster Payments⁤ and Euro SEPA transfers for withdrawals as well.

On top of that, NEXO offers a⁣ virtual card that lets you spend directly against your cryptocurrency balance. They’ve also built out⁢ features like borrowing and other next-gen financing options, which go beyond the basics. Those parts︀ may be a little outside of what we usually focus on at OVZA, but for︁ our cryptocurrency-based clients, it can be a very useful tool.