{"id":7986,"date":"2021-01-13T10:56:34","date_gmt":"2021-01-13T10:56:34","guid":{"rendered":"https:\/\/www.foxymonkey.com\/?p=7986"},"modified":"2024-01-05T11:06:48","modified_gmt":"2024-01-05T11:06:48","slug":"bitcoin-limited-company","status":"publish","type":"post","link":"https:\/\/www.foxymonkey.com\/bitcoin-limited-company\/","title":{"rendered":"How to Buy Bitcoin through your Limited Company [Updated for 2024]"},"content":{"rendered":"\n<p>This article explains how to buy bitcoin through your limited company. It also explains how taxes work if you buy bitcoin through a limited company.<\/p>\n\n\n\n<p>UK limited companies can invest in crypto like Bitcoin and Ethereum. Also, HMRC has even given clarity on how cryptocurrencies are taxed (more on that later).<\/p>\n\n\n\n<p>So how do you buy crypto using your business funds? You can do it in three different ways:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Use a crypto exchange, like Kraken, suitable for limited companies<\/li>\n\n\n\n<li>Use a proxy stock<\/li>\n\n\n\n<li>Buy the Bitcoin ETF (not yet available)<\/li>\n<\/ol>\n\n\n\n<pre class=\"wp-block-verse\">Disclaimer: Cryptocurrencies are high risk and very volatile. See this <a href=\"https:\/\/www.fca.org.uk\/news\/news-stories\/fca-warns-consumers-risks-investments-advertising-high-returns-based-cryptoassets\" target=\"_blank\" rel=\"noreferrer noopener\">warning<\/a> issued by the FCA. Buy at your own risk.<\/pre>\n\n\n\n<p>With the disclaimers out of the way, let&#8217;s go!<\/p>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">1. Use Kraken to buy Bitcoin using your company funds<\/h2>\n\n\n\n<p>My go-to way for buying Bitcoin is to buy directly on a crypto exchange, like Kraken.<\/p>\n\n\n\n<p>When it comes to cryptocurrencies there are so many platforms around. But not many platforms offer corporate crypto accounts.<\/p>\n\n\n\n<p>My preferred choice is <a href=\"https:\/\/www.kraken.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Kraken<\/a>. On Kraken, you can open a company account and buy Bitcoin and other cryptocurrencies through your limited company.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full is-resized\"><img fetchpriority=\"high\" decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/yH5BAEAAAAALAAAAAABAAEAAAIBRAA7\" data-src=\"https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2021\/01\/kraken.png\" alt=\"kraken logo\" class=\"wp-image-9428 lazyload\" width=\"750\" height=\"375\" data-srcset=\"https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2021\/01\/kraken.png 1500w, https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2021\/01\/kraken-300x150.png 300w, https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2021\/01\/kraken-1024x512.png 1024w, https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2021\/01\/kraken-768x384.png 768w\" sizes=\"(max-width: 750px) 100vw, 750px\" \/><noscript><img fetchpriority=\"high\" decoding=\"async\" src=\"https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2021\/01\/kraken.png\" alt=\"kraken logo\" class=\"wp-image-9428 lazyload\" width=\"750\" height=\"375\" srcset=\"https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2021\/01\/kraken.png 1500w, https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2021\/01\/kraken-300x150.png 300w, https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2021\/01\/kraken-1024x512.png 1024w, https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2021\/01\/kraken-768x384.png 768w\" sizes=\"(max-width: 750px) 100vw, 750px\" \/><\/noscript><\/figure>\n\n\n\n<p>The process is not very quick, due to the number of documents they need from your LTD company. If you&#8217;ve opened a corporate account for buying stocks &amp; shares then you know what I&#8217;m talking about.<\/p>\n\n\n\n<p>It&#8217;s not complicated, it just takes a bit of time to gather everything.<\/p>\n\n\n\n<p>So why Kraken? I like that they are a big company and one of the leaders in the crypto space. They have an intuitive interface suitable for both novices and experts.<\/p>\n\n\n\n<p>They also follow high-security standards, such as 2-factor authentication, and have a huge following in the crypto community. That doesn&#8217;t prevent them from being hacked but it&#8217;s always a good sign.<\/p>\n\n\n\n<p>Note: Coinbase also offers company accounts but you need to get accepted as an &#8220;institutional investor&#8221;. Not sure they actually accept small businesses &#8211; I never heard back from them. I use them for buying crypto on my personal account and here&#8217;s my <a href=\"https:\/\/www.foxymonkey.com\/recommends\/coinbase\/\" data-eafl-id=\"3019\" data-eafl-parsed=\"1\" class=\"eafl-link eafl-link-text eafl-link-cloaked\" target=\"_blank\" rel=\"nofollow\">referral sign-up link<\/a> where we both get a free \u00a37 BTC bonus if you sign up (and thanks!). Kraken offer a lot more crypto pairs than Coinbase and they&#8217;re cheaper too.<\/p>\n\n\n\n<p>So let&#8217;s see how we can buy some crypto using company money.<\/p>\n\n\n\n<p>Here are the detailed steps and what to look out for.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Step 1: Open a Kraken Business account with Pro limits<\/h3>\n\n\n\n<p>Head over to Kraken and click the Create Account button. Make sure you use the Business option, as shown on the image below.<\/p>\n\n\n\n<p>Use your company e-mail if you have one and a strong password.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image.png\"><img decoding=\"async\" width=\"873\" height=\"810\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/yH5BAEAAAAALAAAAAABAAEAAAIBRAA7\" data-src=\"https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image.png\" alt=\"kraken business account\" class=\"wp-image-9429 lazyload\" data-srcset=\"https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image.png 873w, https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-300x278.png 300w, https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-768x713.png 768w\" sizes=\"(max-width: 873px) 100vw, 873px\" \/><noscript><img decoding=\"async\" width=\"873\" height=\"810\" src=\"https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image.png\" alt=\"kraken business account\" class=\"wp-image-9429 lazyload\" srcset=\"https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image.png 873w, https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-300x278.png 300w, https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-768x713.png 768w\" sizes=\"(max-width: 873px) 100vw, 873px\" \/><\/noscript><\/a><\/figure>\n\n\n\n<p>Kraken will send you an email to activate your account. Once you click the link in the email, you can log in and view the interface.<\/p>\n\n\n\n<p>You then need to verify your business account before you can buy or sell any crypto.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"1243\" height=\"515\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/yH5BAEAAAAALAAAAAABAAEAAAIBRAA7\" data-src=\"https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-2.png\" alt=\"kraken first screen after registering\" class=\"wp-image-9431 lazyload\" data-srcset=\"https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-2.png 1243w, https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-2-300x124.png 300w, https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-2-1024x424.png 1024w, https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-2-768x318.png 768w\" sizes=\"(max-width: 1243px) 100vw, 1243px\" \/><noscript><img decoding=\"async\" width=\"1243\" height=\"515\" src=\"https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-2.png\" alt=\"kraken first screen after registering\" class=\"wp-image-9431 lazyload\" srcset=\"https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-2.png 1243w, https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-2-300x124.png 300w, https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-2-1024x424.png 1024w, https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-2-768x318.png 768w\" sizes=\"(max-width: 1243px) 100vw, 1243px\" \/><\/noscript><figcaption class=\"wp-element-caption\">Kraken&#8217;s first screen after registering an account<\/figcaption><\/figure>\n\n\n\n<p>Click on Verify your Business account. <\/p>\n\n\n\n<p>As a UK limited company, you can only sign up for the Kraken Pro account. <\/p>\n\n\n\n<p>This requires full verification but also allows you to use all features that Kraken offers such as earning rewards with staking, NFT trading etc.<\/p>\n\n\n\n<p>It&#8217;s free to hold a Kraken business account.<\/p>\n\n\n\n<p>If you just want to buy Bitcoin, Kraken Pro offers that as well at no extra cost.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Step 2: Verify your Business Account<\/h3>\n\n\n\n<p>To buy crypto through your limited company you need to <strong>complete the verification process<\/strong>. This takes time but has to be done. <\/p>\n\n\n\n<p>There&#8217;s nothing complicated about it, though.<\/p>\n\n\n\n<p>Here&#8217;s how the verification screen looks like. I will go through the screens one by one.<\/p>\n\n\n\n<p><strong>In section 1<\/strong>, enter your business information, such as LTD company name and full address. In the company registration documents, you will need your Incorporation certificate, which you can find on the <a href=\"https:\/\/find-and-update.company-information.service.gov.uk\/\" target=\"_blank\" rel=\"noreferrer noopener\">companies house page<\/a>. Search for your company -&gt; Filing History.<\/p>\n\n\n\n<p><strong>In section 2<\/strong>, choose Corporation if you are a UK limited company. Your government-issued business registration is your company number.<\/p>\n\n\n\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped wp-block-gallery-1 is-layout-flex wp-block-gallery-is-layout-flex\">\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-3.png\"><img loading=\"lazy\" decoding=\"async\" width=\"724\" height=\"437\" data-id=\"9432\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/yH5BAEAAAAALAAAAAABAAEAAAIBRAA7\" data-src=\"https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-3.png\" alt=\"\" class=\"wp-image-9432 lazyload\" data-srcset=\"https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-3.png 724w, https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-3-300x181.png 300w\" sizes=\"(max-width: 724px) 100vw, 724px\" \/><noscript><img loading=\"lazy\" decoding=\"async\" width=\"724\" height=\"437\" data-id=\"9432\" src=\"https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-3.png\" alt=\"\" class=\"wp-image-9432 lazyload\" srcset=\"https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-3.png 724w, https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-3-300x181.png 300w\" sizes=\"(max-width: 724px) 100vw, 724px\" \/><\/noscript><\/a><\/figure>\n<\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/find-and-update.company-information.service.gov.uk\/\"><img loading=\"lazy\" decoding=\"async\" width=\"795\" height=\"231\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/yH5BAEAAAAALAAAAAABAAEAAAIBRAA7\" data-src=\"https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-4.png\" alt=\"\" class=\"wp-image-9433 lazyload\" data-srcset=\"https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-4.png 795w, https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-4-300x87.png 300w, https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-4-768x223.png 768w\" sizes=\"(max-width: 795px) 100vw, 795px\" \/><noscript><img loading=\"lazy\" decoding=\"async\" width=\"795\" height=\"231\" src=\"https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-4.png\" alt=\"\" class=\"wp-image-9433 lazyload\" srcset=\"https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-4.png 795w, https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-4-300x87.png 300w, https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-4-768x223.png 768w\" sizes=\"(max-width: 795px) 100vw, 795px\" \/><\/noscript><\/a><figcaption class=\"wp-element-caption\">Here is Tesco&#8217;s company number using the <a href=\"https:\/\/find-and-update.company-information.service.gov.uk\/\" target=\"_blank\" rel=\"noreferrer noopener\">HMRC website<\/a><\/figcaption><\/figure>\n\n\n\n<p>In Section 3, you need to provide the source of funds. In other words, where did this money come from?<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-5.png\"><img loading=\"lazy\" decoding=\"async\" width=\"745\" height=\"287\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/yH5BAEAAAAALAAAAAABAAEAAAIBRAA7\" data-src=\"https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-5.png\" alt=\"kraken business justification source of funds\" class=\"wp-image-9438 lazyload\" data-srcset=\"https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-5.png 745w, https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-5-300x116.png 300w\" sizes=\"(max-width: 745px) 100vw, 745px\" \/><noscript><img loading=\"lazy\" decoding=\"async\" width=\"745\" height=\"287\" src=\"https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-5.png\" alt=\"kraken business justification source of funds\" class=\"wp-image-9438 lazyload\" srcset=\"https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-5.png 745w, https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-5-300x116.png 300w\" sizes=\"(max-width: 745px) 100vw, 745px\" \/><\/noscript><\/a><\/figure>\n\n\n\n<p>Depending on your business, the source of funds will vary. <\/p>\n\n\n\n<p>For example, one could say that <em>&#8216;The business acts as a proprietary investing firm, investing its own funds. I am the sole director. The funds come from my technology consultancy services.<\/em>&#8216;.<\/p>\n\n\n\n<pre class=\"wp-block-verse\">Be specific about the \"Source of funds\", even specifying names of your other business (if so) that generated the funds. This will avoid unnecessary questions over email.<\/pre>\n\n\n\n<p><strong>Section 4 <\/strong>asks why you want an account. <\/p>\n\n\n\n<p>Spot means the plain crypto service for buying and selling coins. It&#8217;s called &#8216;spot&#8217; to differentiate between other more complex products such as futures\/options.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-6.png\"><img loading=\"lazy\" decoding=\"async\" width=\"752\" height=\"921\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/yH5BAEAAAAALAAAAAABAAEAAAIBRAA7\" data-src=\"https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-6.png\" alt=\"kraken business account activity\" class=\"wp-image-9439 lazyload\" data-srcset=\"https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-6.png 752w, https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-6-245x300.png 245w\" sizes=\"(max-width: 752px) 100vw, 752px\" \/><noscript><img loading=\"lazy\" decoding=\"async\" width=\"752\" height=\"921\" src=\"https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-6.png\" alt=\"kraken business account activity\" class=\"wp-image-9439 lazyload\" srcset=\"https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-6.png 752w, https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-6-245x300.png 245w\" sizes=\"(max-width: 752px) 100vw, 752px\" \/><\/noscript><\/a><\/figure>\n\n\n\n<p><strong>Section 5 <\/strong>wants to know your company structure and who controls the kraken account.<\/p>\n\n\n\n<p>If you own 100% of the investment company and you declare you maintain control over the company, then the beneficial ownership info is redundant. You are the beneficial owner.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"802\" height=\"682\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/yH5BAEAAAAALAAAAAABAAEAAAIBRAA7\" data-src=\"https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-7.png\" alt=\"\" class=\"wp-image-9441 lazyload\" data-srcset=\"https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-7.png 802w, https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-7-300x255.png 300w, https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-7-768x653.png 768w\" sizes=\"(max-width: 802px) 100vw, 802px\" \/><noscript><img loading=\"lazy\" decoding=\"async\" width=\"802\" height=\"682\" src=\"https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-7.png\" alt=\"\" class=\"wp-image-9441 lazyload\" srcset=\"https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-7.png 802w, https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-7-300x255.png 300w, https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-7-768x653.png 768w\" sizes=\"(max-width: 802px) 100vw, 802px\" \/><\/noscript><figcaption class=\"wp-element-caption\">Section 5<\/figcaption><\/figure>\n\n\n\n<p><strong>Well, that&#8217;s all you need to know about the Kraken business verification process<\/strong>. <\/p>\n\n\n\n<p>You now submit everything and wait.<\/p>\n\n\n\n<p>The Kraken verification process took 2 weeks for me. They asked a few more questions over email, such as &#8216;why is there no website for your business&#8217;. They also wanted to make sure I do not invest US client money, which I don&#8217;t.<\/p>\n\n\n\n<p>After about 2 weeks I got an email saying my business account is ready to go.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-8.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1488\" height=\"107\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/yH5BAEAAAAALAAAAAABAAEAAAIBRAA7\" data-src=\"https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-8.png\" alt=\"\" class=\"wp-image-9442 lazyload\" data-srcset=\"https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-8.png 1488w, https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-8-300x22.png 300w, https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-8-1024x74.png 1024w, https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-8-768x55.png 768w\" sizes=\"(max-width: 1488px) 100vw, 1488px\" \/><noscript><img loading=\"lazy\" decoding=\"async\" width=\"1488\" height=\"107\" src=\"https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-8.png\" alt=\"\" class=\"wp-image-9442 lazyload\" srcset=\"https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-8.png 1488w, https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-8-300x22.png 300w, https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-8-1024x74.png 1024w, https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-8-768x55.png 768w\" sizes=\"(max-width: 1488px) 100vw, 1488px\" \/><\/noscript><\/a><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">Kraken pros and cons for limited companies<\/h3>\n\n\n\n<p><strong>Pros:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Fiat to crypto deposits (GBP)<\/li>\n\n\n\n<li>Easy to sign-up<\/li>\n\n\n\n<li>Low cost and well established<\/li>\n<\/ul>\n\n\n\n<p><strong>Cons:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Risk of exchange hack or losing your keys (if you take coins to your own wallet)<\/li>\n\n\n\n<li>Another platform to maintain<\/li>\n\n\n\n<li>Risk of bank account getting frozen because crypto transactions can be easily flagged<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">2. Use a Bitcoin Proxy Stock<\/h2>\n\n\n\n<p>You can own a stock which behaves like Bitcoin if all you need is price action.<\/p>\n\n\n\n<p>This is particularly useful if you already have a <a href=\"https:\/\/www.foxymonkey.com\/interactive-brokers-company-account\/\" target=\"_blank\" rel=\"noreferrer noopener\">company account with Interactive Brokers<\/a> or with another broker.<\/p>\n\n\n\n<p>This method won&#8217;t give you self-custody. So you cannot own the coins. But you own a public stock which owns the coins.<\/p>\n\n\n\n<p>The closest match to a public company with Bitcoin characteristics is MicroStrategy, on Nasdaq (ticker: MSTR). Since holding the majority of its reserves in actual Bitcoin, it behaves as if you&#8217;re investing in Bitcoin itself.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-9.png\"><img loading=\"lazy\" decoding=\"async\" width=\"2509\" height=\"878\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/yH5BAEAAAAALAAAAAABAAEAAAIBRAA7\" data-src=\"https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-9.png\" alt=\"Microstrategy vs Bitcoin correlation\" class=\"wp-image-9446 lazyload\" data-srcset=\"https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-9.png 2509w, https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-9-300x105.png 300w, https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-9-1024x358.png 1024w, https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-9-768x269.png 768w, https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-9-1536x538.png 1536w, https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-9-2048x717.png 2048w\" sizes=\"(max-width: 2509px) 100vw, 2509px\" \/><noscript><img loading=\"lazy\" decoding=\"async\" width=\"2509\" height=\"878\" src=\"https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-9.png\" alt=\"Microstrategy vs Bitcoin correlation\" class=\"wp-image-9446 lazyload\" srcset=\"https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-9.png 2509w, https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-9-300x105.png 300w, https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-9-1024x358.png 1024w, https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-9-768x269.png 768w, https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-9-1536x538.png 1536w, https:\/\/www.foxymonkey.com\/wp-content\/uploads\/2024\/01\/image-9-2048x717.png 2048w\" sizes=\"(max-width: 2509px) 100vw, 2509px\" \/><\/noscript><\/a><figcaption class=\"wp-element-caption\">Source: <a href=\"https:\/\/www.tradingview.com\/chart\/HKos3NL8\/?symbol=BINANCE%3ABTCUSDT\" target=\"_blank\" rel=\"noreferrer noopener\">TradingView<\/a><\/figcaption><\/figure>\n\n\n\n<p>As you can see, owning MicroStrategy is similar but not exactly the same as owning Bitcoin. Some drift is expected. After all, you own an operating company with humans behind the driving wheel, some debt etc.<\/p>\n\n\n\n<p>Note that this will only give you Bitcoin price characteristics, not altcoin exposure.<\/p>\n\n\n\n<p>Other options include owning other crypto stocks like Coinbase or crypto mining stocks. But I found Microstrategy to be the closest match to Bitcoin for UK limited companies.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">3. Use the Bitcoin ETF (not yet approved) <\/h2>\n\n\n\n<p>You can invest in Bitcoin through your limited company by buying the Bitcoin ETF. <\/p>\n\n\n\n<p>The retail version of a Bitcoin ETF is not yet available.<\/p>\n\n\n\n<p>I expect this will be the most popular way to own the bitcoin price action, but it will come with some fees versus self-custody. You pay some fees for convenience and you do not own the private keys to your coins.<\/p>\n\n\n\n<p>Contrary to the common belief, I think it might actually be <em>safer <\/em>for the ordinary person to hold bitcoin. I have heard many stories of hardware wallet getting lost, passphrase lost or eaten by the dog, people getting hacked or scammed and as a result, losing their cold storage bitcoin.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">How cryptocurrencies like Bitcoin are taxed for UK limited companies<\/h2>\n\n\n\n<p>That&#8217;s the first question that comes to mind before purchasing. What tax do I pay on the bitcoin I bought through my limited company? What if I made a loss?<\/p>\n\n\n\n<p>HMRC have now provided <a href=\"https:\/\/www.gov.uk\/government\/publications\/tax-on-cryptoassets\/cryptoassets-tax-for-businesses#corporation-tax\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">great clarity<\/a> given how popular cryptos are lately! Perhaps HMRC employees are hodlers too. Reading.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>If the activity concerning the exchange token is not a trading activity, and is not charged to Corporation Tax in another way (such as the non-trading loan relationship or intangible fixed asset rules) then the activity will be the disposal of a capital asset and any gain that arises from the disposal would typically be charged to Corporation Tax as a chargeable gain.<\/em><\/p>\n<\/blockquote>\n\n\n\n<p>The main gist of it is that yes, <strong>you need to pay corporation tax on the profits<\/strong>. Similarly to most investments made through a limited company, only the tax gain part is subject to tax. In other words, if you bought \u00a3100 and sold \u00a3120, you need to pay 19% tax on \u00a320 = \u00a33.8.<\/p>\n\n\n\n<p>You pay tax only in the tax year that you <strong>sold<\/strong> the investment, not if you just hold it.<\/p>\n\n\n\n<p>Clever me thought: Ok, if I want out, I&#8217;ll just exchange BTC to USDT (the dollar equivalent &#8220;crypto&#8221;) and not pay any tax, ever, unless I withdraw fiat. USDT is crypto after all. But no, you need to pay tax even if you exchange crypto for another crypto. That&#8217;s considered <em>disposal<\/em> too!<\/p>\n\n\n\n<p>Not bad if you&#8217;ve made a fortune on Bitcoin but still subject to tax.<\/p>\n\n\n\n<p>There are some special rules for short-term trading (&lt;30 days). See pooling rules &#8211; Exercise for the reader. <\/p>\n\n\n\n<p>Reminder: If you are an <strong>individual<\/strong>, you&#8217;d still need to pay capital gains taxes on your crypto profits. That&#8217;s 10% tax (basic rate taxpayer) or 20% tax if you&#8217;re a higher\/additional rate taxpayer.<\/p>\n\n\n\n<p>Further reading: <\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Cryptocurrency taxation for a UK limited company (<a href=\"https:\/\/www.gov.uk\/government\/publications\/tax-on-cryptoassets\/cryptoassets-tax-for-businesses\" rel=\"noreferrer noopener nofollow\" target=\"_blank\">HMRC<\/a>, see corporation tax section)<\/li>\n\n\n\n<li>Cryptocurrency taxes for individuals (<a href=\"https:\/\/www.gov.uk\/government\/publications\/tax-on-cryptoassets\/cryptoassets-for-individuals\" target=\"_blank\" rel=\"noreferrer noopener\">HMRC<\/a>)<\/li>\n<\/ul>\n\n\n\n<p>Happy crypto investing. I&#8217;d be interested in knowing your % of net worth allocated to crypto (before and after 2021!). Mine is just over 2%.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><a href=\"https:\/\/shop.ledger.com\/pages\/ledger-nano-x?r=8da4487bf5ef\"><img class=\"lazyload\" decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/yH5BAEAAAAALAAAAAABAAEAAAIBRAA7\" data-src=\"https:\/\/www.ledgerwallet.com\/images\/promo\/banners\/ledger_banner_4-6-8x6-0.jpg\" alt=\"Ledger Nano X - The secure hardware wallet\"\/><noscript><img class=\"lazyload\" decoding=\"async\" src=\"https:\/\/www.ledgerwallet.com\/images\/promo\/banners\/ledger_banner_4-6-8x6-0.jpg\" alt=\"Ledger Nano X - The secure hardware wallet\"\/><\/noscript><\/a><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">FAQ<\/h2>\n\n\n\n<div class=\"schema-faq wp-block-yoast-faq-block\"><div class=\"schema-faq-section\" id=\"faq-question-1610263608098\"><strong class=\"schema-faq-question\">Should I leave my Bitcoin on Kraken after purchasing?<\/strong> <p class=\"schema-faq-answer\">No. Buy a hardware wallet like the wallet <a href=\"https:\/\/shop.ledger.com\/?r=8da4487bf5ef\">Nano Ledger S<\/a> (\u00a354.00) and transfer your Bitcoin and other coins there. This is like a USB stick but only for crypto. You hold your private keys, you hold your crypto. Not an exchange.<br\/><a href=\"https:\/\/shop.ledger.com\/pages\/ledger-nano-x?r=8da4487bf5ef\"><\/a><br\/>Kraken is a big well-known exchange. But there is always a small risk of getting hacked. It has happened before elsewhere. If you have a small allocation to Bitcoin, say &lt;\u00a31,000 perhaps it&#8217;s ok to leave it there. But for higher values, I would purchase a hardware wallet.<br\/><br\/>The last thing you want is to see your crypto get stolen as it happened with my Nano coins on another exchange (BitGrail) a few years back. <\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1610264016304\"><strong class=\"schema-faq-question\">What&#8217;s the best way to buy crypto as an individual (not a company)?<\/strong> <p class=\"schema-faq-answer\">I use <a href=\"https:\/\/www.foxymonkey.com\/recommends\/coinbase\/\" data-eafl-id=\"3019\" data-eafl-parsed=\"1\" class=\"eafl-link eafl-link-text eafl-link-cloaked\" target=\"_blank\" rel=\"nofollow\">Coinbase<\/a> which is the easiest and most straightforward way to buy crypto for beginners. You can use my <a href=\"https:\/\/www.foxymonkey.com\/recommends\/coinbase\/\" data-eafl-id=\"3019\" data-eafl-parsed=\"1\" class=\"eafl-link eafl-link-text eafl-link-cloaked\" target=\"_blank\" rel=\"nofollow\">referral link<\/a> and we&#8217;ll both get \u00a37 in BTC value for free if you sign up.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1610264293643\"><strong class=\"schema-faq-question\">What are the Kraken fees for limited companies?<\/strong> <p class=\"schema-faq-answer\">Kraken one of the cheapest ways to buy crypto as a limited company. <br\/>GBP Deposits and withdrawals are free. Trading fees are 0.26% (taker) or 0.16% (maker). That is \u00a31.60 to \u00a32.60 for every \u00a31,000 purchase. Not bad at all.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1610464446129\"><strong class=\"schema-faq-question\">Can I not make a transfer to my Personal Coinbase account from my company?<\/strong> <p class=\"schema-faq-answer\">No, this is treated as a director&#8217;s loan to you with all the negative effects this comes with. You can take a director&#8217;s loan up to \u00a310,000 tax-free as long as you repay it within 9 months of the end of your Corporation Tax accounting period.<\/p> <\/div> <\/div>\n\n\n\n<p>Be careful with crypto and as always, do your own research!<\/p>\n\n\n\n<p><em>If you liked this article, feel free to share it with someone who owns a Limited Company and told you &#8220;I told you so&#8221; in 2017. <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>This article explains how to buy bitcoin through your limited company. It also explains how taxes work if you buy bitcoin through a limited company. &#8230; <a title=\"How to Buy Bitcoin through your Limited Company [Updated for 2024]\" class=\"read-more\" href=\"https:\/\/www.foxymonkey.com\/bitcoin-limited-company\/\" aria-label=\"More on How to Buy Bitcoin through your Limited Company [Updated for 2024]\">Read more<\/a><\/p>\n","protected":false},"author":2,"featured_media":8035,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[227,36],"tags":[180,179,178,151,246],"class_list":["post-7986","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-company-hub","category-investing","tag-bitcoin","tag-crypto","tag-cryptocurrency","tag-investing","tag-tax"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How to Buy Bitcoin through your Limited Company [Updated for 2024] - Foxy Monkey<\/title>\n<meta name=\"description\" content=\"Here is how to buy bitcoin through your limited company. 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I'm Michael and I love writing about different ways to earn, save and invest our money. Coffee addict :)\",\"sameAs\":[\"https:\/\/www.foxymonkey.com\/\",\"https:\/\/www.facebook.com\/FoxyMonkeyClub\/\",\"https:\/\/x.com\/https:\/\/twitter.com\/FoxyMonkey\"]},{\"@type\":\"Question\",\"@id\":\"https:\/\/www.foxymonkey.com\/bitcoin-limited-company\/#faq-question-1610263608098\",\"position\":1,\"url\":\"https:\/\/www.foxymonkey.com\/bitcoin-limited-company\/#faq-question-1610263608098\",\"name\":\"Should I leave my Bitcoin on Kraken after purchasing?\",\"answerCount\":1,\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"No. Buy a hardware wallet like the wallet <a href=\\\"https:\/\/shop.ledger.com\/?r=8da4487bf5ef\\\">Nano Ledger S<\/a> (\u00a354.00) and transfer your Bitcoin and other coins there. This is like a USB stick but only for crypto. You hold your private keys, you hold your crypto. Not an exchange.<br\/><a href=\\\"https:\/\/shop.ledger.com\/pages\/ledger-nano-x?r=8da4487bf5ef\\\"><\/a><br\/>Kraken is a big well-known exchange. But there is always a small risk of getting hacked. It has happened before elsewhere. If you have a small allocation to Bitcoin, say &lt;\u00a31,000 perhaps it's ok to leave it there. But for higher values, I would purchase a hardware wallet.<br\/><br\/>The last thing you want is to see your crypto get stolen as it happened with my Nano coins on another exchange (BitGrail) a few years back. \",\"inLanguage\":\"en-GB\"},\"inLanguage\":\"en-GB\"},{\"@type\":\"Question\",\"@id\":\"https:\/\/www.foxymonkey.com\/bitcoin-limited-company\/#faq-question-1610264016304\",\"position\":2,\"url\":\"https:\/\/www.foxymonkey.com\/bitcoin-limited-company\/#faq-question-1610264016304\",\"name\":\"What's the best way to buy crypto as an individual (not a company)?\",\"answerCount\":1,\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"I use <a href=\\\"https:\/\/www.coinbase.com\/join\/vogiat_pp\\\" data-eafl-id=\\\"3019\\\" data-eafl-text=\\\"Coinbase\\\" class=\\\"eafl-link\\\">Coinbase<\/a> which is the easiest and most straightforward way to buy crypto for beginners. You can use my <a href=\\\"https:\/\/www.coinbase.com\/join\/vogiat_pp\\\" data-eafl-id=\\\"3019\\\" data-eafl-text=\\\"referral link\\\" class=\\\"eafl-link\\\">referral link<\/a> and we'll both get \u00a37 in BTC value for free if you sign up.\",\"inLanguage\":\"en-GB\"},\"inLanguage\":\"en-GB\"},{\"@type\":\"Question\",\"@id\":\"https:\/\/www.foxymonkey.com\/bitcoin-limited-company\/#faq-question-1610264293643\",\"position\":3,\"url\":\"https:\/\/www.foxymonkey.com\/bitcoin-limited-company\/#faq-question-1610264293643\",\"name\":\"What are the Kraken fees for limited companies?\",\"answerCount\":1,\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Kraken one of the cheapest ways to buy crypto as a limited company. <br\/>GBP Deposits and withdrawals are free. Trading fees are 0.26% (taker) or 0.16% (maker). That is \u00a31.60 to \u00a32.60 for every \u00a31,000 purchase. Not bad at all.\",\"inLanguage\":\"en-GB\"},\"inLanguage\":\"en-GB\"},{\"@type\":\"Question\",\"@id\":\"https:\/\/www.foxymonkey.com\/bitcoin-limited-company\/#faq-question-1610464446129\",\"position\":4,\"url\":\"https:\/\/www.foxymonkey.com\/bitcoin-limited-company\/#faq-question-1610464446129\",\"name\":\"Can I not make a transfer to my Personal Coinbase account from my company?\",\"answerCount\":1,\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"No, this is treated as a director's loan to you with all the negative effects this comes with. You can take a director's loan up to \u00a310,000 tax-free as long as you repay it within 9 months of the end of your Corporation Tax accounting period.\",\"inLanguage\":\"en-GB\"},\"inLanguage\":\"en-GB\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"How to Buy Bitcoin through your Limited Company [Updated for 2024] - Foxy Monkey","description":"Here is how to buy bitcoin through your limited company. 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I'm Michael and I love writing about different ways to earn, save and invest our money. Coffee addict :)","sameAs":["https:\/\/www.foxymonkey.com\/","https:\/\/www.facebook.com\/FoxyMonkeyClub\/","https:\/\/x.com\/https:\/\/twitter.com\/FoxyMonkey"]},{"@type":"Question","@id":"https:\/\/www.foxymonkey.com\/bitcoin-limited-company\/#faq-question-1610263608098","position":1,"url":"https:\/\/www.foxymonkey.com\/bitcoin-limited-company\/#faq-question-1610263608098","name":"Should I leave my Bitcoin on Kraken after purchasing?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"No. Buy a hardware wallet like the wallet <a href=\"https:\/\/shop.ledger.com\/?r=8da4487bf5ef\">Nano Ledger S<\/a> (\u00a354.00) and transfer your Bitcoin and other coins there. This is like a USB stick but only for crypto. You hold your private keys, you hold your crypto. Not an exchange.<br\/><a href=\"https:\/\/shop.ledger.com\/pages\/ledger-nano-x?r=8da4487bf5ef\"><\/a><br\/>Kraken is a big well-known exchange. But there is always a small risk of getting hacked. It has happened before elsewhere. If you have a small allocation to Bitcoin, say &lt;\u00a31,000 perhaps it's ok to leave it there. But for higher values, I would purchase a hardware wallet.<br\/><br\/>The last thing you want is to see your crypto get stolen as it happened with my Nano coins on another exchange (BitGrail) a few years back. ","inLanguage":"en-GB"},"inLanguage":"en-GB"},{"@type":"Question","@id":"https:\/\/www.foxymonkey.com\/bitcoin-limited-company\/#faq-question-1610264016304","position":2,"url":"https:\/\/www.foxymonkey.com\/bitcoin-limited-company\/#faq-question-1610264016304","name":"What's the best way to buy crypto as an individual (not a company)?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"I use <a href=\"https:\/\/www.coinbase.com\/join\/vogiat_pp\" data-eafl-id=\"3019\" data-eafl-text=\"Coinbase\" class=\"eafl-link\">Coinbase<\/a> which is the easiest and most straightforward way to buy crypto for beginners. You can use my <a href=\"https:\/\/www.coinbase.com\/join\/vogiat_pp\" data-eafl-id=\"3019\" data-eafl-text=\"referral link\" class=\"eafl-link\">referral link<\/a> and we'll both get \u00a37 in BTC value for free if you sign up.","inLanguage":"en-GB"},"inLanguage":"en-GB"},{"@type":"Question","@id":"https:\/\/www.foxymonkey.com\/bitcoin-limited-company\/#faq-question-1610264293643","position":3,"url":"https:\/\/www.foxymonkey.com\/bitcoin-limited-company\/#faq-question-1610264293643","name":"What are the Kraken fees for limited companies?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Kraken one of the cheapest ways to buy crypto as a limited company. <br\/>GBP Deposits and withdrawals are free. Trading fees are 0.26% (taker) or 0.16% (maker). That is \u00a31.60 to \u00a32.60 for every \u00a31,000 purchase. Not bad at all.","inLanguage":"en-GB"},"inLanguage":"en-GB"},{"@type":"Question","@id":"https:\/\/www.foxymonkey.com\/bitcoin-limited-company\/#faq-question-1610464446129","position":4,"url":"https:\/\/www.foxymonkey.com\/bitcoin-limited-company\/#faq-question-1610464446129","name":"Can I not make a transfer to my Personal Coinbase account from my company?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"No, this is treated as a director's loan to you with all the negative effects this comes with. You can take a director's loan up to \u00a310,000 tax-free as long as you repay it within 9 months of the end of your Corporation Tax accounting period.","inLanguage":"en-GB"},"inLanguage":"en-GB"}]}},"_links":{"self":[{"href":"https:\/\/www.foxymonkey.com\/wp-json\/wp\/v2\/posts\/7986","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.foxymonkey.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.foxymonkey.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.foxymonkey.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.foxymonkey.com\/wp-json\/wp\/v2\/comments?post=7986"}],"version-history":[{"count":0,"href":"https:\/\/www.foxymonkey.com\/wp-json\/wp\/v2\/posts\/7986\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.foxymonkey.com\/wp-json\/wp\/v2\/media\/8035"}],"wp:attachment":[{"href":"https:\/\/www.foxymonkey.com\/wp-json\/wp\/v2\/media?parent=7986"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.foxymonkey.com\/wp-json\/wp\/v2\/categories?post=7986"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.foxymonkey.com\/wp-json\/wp\/v2\/tags?post=7986"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}