A growing coalition of people is urging recommendations for platforms to buy Bitcoin for limited companies. The recent withdrawal of support from major exchanges like Coinbase and Kraken leaves business owners in search of viable options for direct withdrawals to cold wallets. Amid this transition, feedback from users demonstrates both ongoing challenges and newly favored platforms.
Current Challenges in Buying Crypto
Business owners are feeling the strain with platforms like Kraken and Coinbase no longer accepting company accounts. Some have reported negative experiences with Gemini, citing issues such as account bans and withheld funds. “My company account is with Kraken. Have they stopped new business accounts recently?” questioned one user, highlighting confusion surrounding the services. Interestingly, another user noted, "Well my business buys and withdraws happily with a Kraken business account. Zero problems."
Alternatives Suggested by the Community
New Platforms to Consider
Strike: Users commend its user-friendly interface and lower fees, despite noting a wider spread than some competitors. One participant stated, "I’m doing a small weekly DCA for the long-term, so it’s acceptable to me."
CoinPass: While there's a UK presence, experiences vary, particularly regarding fees.
CoinCorner: Noted for allowing business accounts with Bitcoin holdings, this platform has become increasingly attractive to those in the current landscape.
Revolut Business: Mentioned in recent discussions, users have highlighted its capability to manage crypto transactions effectively.
Interestingly, a fellow user revealed that Zion has paused new UK business account onboarding but assured existing accounts remain unaffected.
Feedback from Users
Common concerns about high fees and spreads emerged. One user mentioned that while Solidi might be a good option, the app’s withdrawal fees are quite steep. In addition, buying crypto personally to sell it to their companies is gaining popularity as an alternative approach. As one participant pointed out, "Direct purchases via third parties may save on fees but require more effort."
Trends in Business Crypto Transactions
The prospect of OTC trading is becoming a talking point for larger purchases, with many individuals uncertain about the requirements. Industry experts suggest there’s a 60% chance that new exchanges aimed at business accounts will emerge over the next year. With major platforms stepping away, business leaders are likely to pivot towards decentralized exchanges and peer-to-peer transactions.
Key Insights from Recent Discussions:
🔍 Strike is praised for user-friendliness and competitive fees.
❌ Kraken and Coinbase limitations provoke significant concern for companies.
⚖️ Direct purchases via individuals may cut fees but require additional effort.
As the landscape continues to shift, many owners find themselves adapting to the changing environment. Just like the rise of e-commerce transformed shopping, the movement towards innovative crypto solutions can redefine business transactions in the near future.