I’ll get straight to the point, my many years old Coinbase account was randomly closed a couple of months ago despite only ever using it as a fiat off-ramp, all aboveboard (KuCoin etc> Coinbase> bank) but as we all know, there is no ability to plead your innocence or have the decision overturned with these people. So I swallowed the losses, sold up and moved on despite genuinely having no idea what flagged their system after all this time and hundreds of easily traceable and verifiable transactions.
Following the advice of the good people here, I then opened a Kraken account since it can do everything that Coinbase did. The account creation went fine, and had the account up and running just doing the same occasional off-ramping I’ve always done with no snags at all. Then a couple of days ago, a deposit of USDT was put on hold but I didn’t think anything of it. I reached out to support and was told I needed to prove where the crypto came from etc, no problem I gave them all the relevant information and am now awaiting a response. But having read the stories here, I have a strong suspicion that no matter what information I send, this account may just be auto closed too and I feel like I’m running out of options.
So, as someone who WANTS to do things safely and legally, what other options do I have for an off-ramp, specifically in the UK now that it’s possible I’ve “burned” the two biggest off-ramp exchanges somehow? I’m worried I may soon be stuck with crypto I cannot cash out without resorting to shadier methods, and I don’t want that. This is a legitimate income stream for me and I intend to do it the right way.
Any advice is appreciated, happy to answer any follow up questions.
TL;DR: What other options do I have left as a UK based person to actually SELL my crypto for GBP cash?
Cheers.
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