Bitcoin Forum

What is the best way currently to convert bitcoins to GBP?

I've had good success using Barclays Pingit and blockchain for buying my bitcoins but unsure what to use to get them back.

I would go with Intersango but its invite only.

There are a few people who are simply trading over-the-counter, either by listing on #bitcoin-otc or through the forum, like this:

BTC for UK GBP Bank Transfer - £8 / coin. - 0% fee.
  - http://bitcointalk.org/index.php?topic=119707.0

Bitcoin-Central now has a BTC/GBP market.  The problem is with liquidity, but that liquidity problem appears mostly to be a problem for buyers.  Sellers can find a bid roughly at where the BTC/USD is at Mt. Gox after considering the exchange rate for GBP/USD.  The withdrawal from Bitcoin-Central's French bank to you is where an expensive might be higher than you'ld prefer, but for a larger withdrawal transaction this may not be all that significant.
 - http://www.Bitcoin-Central.net

For smaller amounts (e.g., where wire fee isn't justified by the amount being transferred), VirWoX to Moneybookers is a method some people like.   FastCash4Bitcoins cash-out to PayPal is another.

Another method is currently unavailable but it may be re-opened at some point:

********** BUY / SELL BITCOINS UK *********
 - http://bitcointalk.org/index.php?topic=118396.0

Sell on localbitcoins.  That way you cut out all the fees.

Thanks for the suggestions. I have looked at local bitcoins but its quite a journey to travel to any traders nearby.

Xoom.com, many people are willing to use that to send you money.

OK thanks I'll take a look

Generally the buyers are waiting for sellers to list an "ad" on LocalBitcoins.  

So there could be someone near you wanting to buy and is right now frustrated that there are no sellers nearby.   And you are looking and are frustrated that there are no buyers nearby.   Do you see the problem there?

Put an ad on localbitcoins, always worth a try.

A few posts down. Maybe he is not too far from you?

https://bitcointalk.org/index.php?topic=129075.0

StephenGornick - what is the unavailable method you alluded to?

It does not make any difference if the buyer is near you on localbitcoins if you exchange for a bank transfer.  Search for all the buyers in the entire UK.

The one I was referring to as being "unavailable" is the cash-out service that mjb monetary metals was providing:


They now are providing cash out service, but only through OKPay.

I'm going to offer Paypal money for Bitcoins from this project I'm trying out, here's the link to the post; https://bitcointalk.org/index.php?topic=130008.0