Home Blockchain101 Bitcoin Bitcoin holders barred from depositing profits in UK banks

Bitcoin holders barred from depositing profits in UK banks

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HSBC will not process cryptocurrency payments

Bitcoin has surged to record highs this week but anyone who wants to take profits might struggle to cash in their gains.

Some banks will not accept transfers from bitcoin exchanges. HSBC, one of the biggest banks in the country, does not process cryptocurrency payments or allow customers to bank money from digital wallets. While other leading banks will accept transfers from digital wallets to current accounts, many will not allow customers to use their credit cards to buy or sell bitcoin.

When buying bitcoin or another cryptocurrency, you need to use an exchange such as Coin Corner or Coinbase to open an account. Once you have put funds into your account by making a bank transfer or using a debit or credit card, you

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