I used to buy it and stake it on Binance in one simple step but currently, the UK regulators stupidly restricted Binance from operating here so I tried Exodus wallet, which makes it super easy to buy and stake in just one click for 7% APY, but the current debit card fees from Ramp and Moonpay (the two services that provide the payment) are way too high. So I was wondering if someone figured out what’s the best way to proceed in the UK to send GBP and get SOL ready to stake with reasonable deposit fees. Thank you for any advice.
Thank you so much for your exhaustive answer! I will try replicating all these steps.
The only problem that I foresee, is the same roadblock I encountered while buying SOL inside the Exodus wallet, Exodus use Moonpay and Ramp as integrated on-ramp services to buy; and whenever I choose “via bank transfer” (to avoid fees), my bank deposits are not approved by any of my UK banks, saying they don’t allow transfers to crypto-related accounts! WTF. Therefore I have to click on the Ramp or Moonpay “debit card” option and that’s when the high fees also arrive.
The only problem that I foresee is the same roadblock I encountered while buying SOL inside the Exodus wallet, Exodus use Moonpay and Ramp as integrated on-ramp services to buy; and whenever I choose “via bank transfer” (to avoid fees), my bank deposits are not approved by any of my UK banks, saying they don’t allow transfers to crypto-related accounts! WTF. Therefore I have to click on the Ramp or Moonpay “debit card” option and that’s when the high fees also arrive.
Hey! Oddly enough, I just ran into similar issues with Moonpay as I was trying to deposit more money into my Phantom wallet. Wouldn’t accept my debit card.
I ended up just depositing USDC into coinbase and then used the coinbase-pay integration inside the Phantom wallet to seamlessly transfer funds from coinbase->wallet.
Is Coinbase an option for you? I am not familiar with UK laws!