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RE: It's getting harder to convert yer crypto to FIAT, but does it matter...?

in LeoFinance2 years ago

I've been using Nexo as my intermediary and it still works fairly well (currently) from a UK perspective. I havent put any fiat in there for ages, but last time it was no problem. You can also hold USD, GBP and EUR amounts in Nexo, and I'm wondering if that might make it easier to put fiat in as you'd be buying native currency as opposed to crypto, and then you can convert to crypto.
I also recently did a test to make sure I could withdraw from crypto into fiat within the last 4 weeks via Nexo (the first time I've ever tried it), just to make sure I could actually do it. It was no problem, and even with a small amount. Basically, I converted what I wanted to withdraw into LTC, sent that to Nexo, in Nexo I changed that to GBP, and then withdrew that amount of GBP - and was actually surprised at how low the fees were throughout (minor percentages lost in the exchange fees, and a very small LTC network transfer charge), with the final GBP withdrawal from Nexo being free - which considering the withdrawal amount was only £3.54 - I was quite surprised at. I seem to remember you get a free withdrawal once per month or something - but havent checked that, so dont take that as confirmed.
The other reason I like Nexo is that they pay nice interest on held amount of quite a lot of cryptos, and also USD, EUR and GBP.
I hope that helps - I'm happy to provide a referral link if needed.

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I'm aware of Nexo but never used it, I've no need of it right now, but I'll keep it in mind if I do, cheers! Kraken works for me, Bittrex also!