Bitcoin Forum

Mt. Gox has recently stopped accepting bank transfers from the UK. Does anyone else know of a reliable way of acquiring bitcoins in the UK?

http://www.reddit.com/r/Bitcoin/comments/10po3m/bitcoin_exchanges_that_use_gbp_for_deposits_and/

http://www.reddit.com/r/Bitcoin/comments/10b3rl/which_bitcoin_site_to_use_now_in_the_uk/

also I can maybe sell you coins if you first deposit in to my Lloyds bank account - PM for details

Thanks for the reply, this is very helpful

This service still being offered?

If you meant my offer then sry the answer is no as I don't give my bank details or accept payments to it from ppl who openly post to be doing business on the SR even if that was just buying some aspirins or something, it isn't the type of thing that I wish to facilitate or to be seen possibly connected to in any way.

Re: Silk road down for second day, what's going on? thread

You can buy from me. MOney in cash or Postal Transfer easy I am in northampton

try a local exchange
https://en.bitcoin.it/wiki/Trade#Local.2FIn-Hand_Exchanges

It's a joke at the moment buying BTC in the UK.

UK bitcoins

Small trades: try buying from reputable traders on these forums. Two notables for me are Pteppic and Alwaysmining.

Larger trades: wire the funds to Gox or wherever directly (Gox has a GBP a/c in Japan) and take the hit of the banksters' wire fee. It's not great but is still less than 1% or so if you're shipping a good sum.

I've moved GBP plenty of times to Gox via http://www.xe.com/xetrade/ & prefer sending it in $s which is pre-converted at 1.4% to 1.7% from the www.xe.com mid spot rate, use the ACH/EFT then Wire options to send for free (& not Wire then Wire or you'll get a £12 fee from xe & a $13 fee from Gox's bank), this rate is much better than my UK bank offer & if you send on a Monday the funds should be cleared to your Gox account by Friday & it can all be done online & by Internet banking.  

Edit: I only trade with $s on Gox as that's where the liquidity & best spread is, if you trade with other currencies there you lose via their conversion fee if you're not trading against someone else in that currency & also they can & do run out of non $ funds if you try to withdraw sometimes, see: http://www.reddit.com/r/Bitcoin/comments/13mbhd/mtgox_says_theyre_out_of_funds_to_pay_my/

What's up with blockchain.info? I tried to buy BTC yesterday but the maximum limit is £10. 'Due to exchange issues we are currently low on bitcoins. The £500 limit will be restored Friday Morning.'

Unfortunately a wire transfer we sent to an exchange on Monday has not arrived yet, as a result we do not have any coins available to sell via PingIt. It is frustrating but like most users we also have to deal with exchange issues from time to time and generally there isn't much that can be done other than wait.

Thanks for the response, cleared it up for me.

Two of the private UK sellers I often buy off have had their personal bank accounts frozen in the last 2 days. Seems blockchain.info is one of the few remaining places to buy BTC with GBP.

I'm on #bitcoin-otc IRC channel, drop me a message and I will happily sell you coins. I am quite reputable and have had many successful trades. (http://bitcoin-otc.com/viewratingdetail.php?nick=azelphur&sign=ANY&type=RECV)

:)

Is there any ETA on this, I ran a test transaction yesterday. As it was the first time I've used Pingit I'm not entirely sure if it's working properly. I believe the transactions might timeout if they're not processed within 24 hours.

Right now the £10 I sent to you is still listed as 'pending'.

Sometimes PingIt transactions take a little longer to clear on weekends. Please could you open a ticket at https://blockchain.zendesk.com if it hasn't cleared in a few hours.

PingIt limit lifted

The frozen accounts could be that the constant activity triggers some kind of money laundering flag which the banks then investigate. Anyway it seems to be a right PITA to get coins in UK. I'm off to learn more about OTC. Will be brand new to IRC!

This is the most likely scenario, rather than some stealthy grand bankster conspiracy against Bitcoin (whose market cap is still less than what the banksters, VISA, MC, Paypal etc. process in about five minutes - LOL).


A little bit, but there are some reputable traders on this forum for smaller trades, e.g. I have personal experience dealing with Alwaysmining, and from what I've seen, Pteppic looks good too. For larger volume, direct wires to Mt Gox's Japanese-based GBP account isn't that bad, even though I know it doesn't feel wonderful paying exorbitant wire fees to the banksters.

It's not for everyone, but starting a mining operation is another way to break the regulatory shackles making it tougher to obtain BTC than it ought to be.

I think it is definitely a case of people using their personal accounts for trading. Banks would flag a huge increase in transactions as fraud, my bank has been frozen just for making some large purchases before.

Same deal with credit cards: it's happened to me twice in the past month. (The first time made some sense but I've no clue why they froze it again subsequently. Anyhow, that's been fixed, or so they tell me.)

Having no account to be frozen on a whim is one major benefit to using Bitcoin, of course.

True and I guess difficult to link the activity directly with Bitcoin anyway. We all love a banking conspiracy though, not least because they've got form!


I'm only looking to dip my toe into the world of BTC first, so I've dropped Alwaysmining a PM. Thanks for the tip.

im looking to buy bitcoins in the uk also, the freezing of accounts is annoying you get to know a person do a few good trades then there account gets frozen