Bitcoin Forum

I have asked this question in the past but then never sold and I know things change over time. Which exchange would be best for someone based in the UK to sell some BTC? Do any or all of them convert the proceeds of the sale into fiat currency or into another crypto? Are there problems with banks accepting withdrawals from BTC exchanges? Thanks in advance for your answers.

I know that there are some mobile apps which can help you to exchange easy and fast. But to be honest I haven't used them. I think that it's really interesting to try

Use Coinbase.com in the uk
Sell btc for gbp then withdraw as PayPal

Thanks, Coinbase was the one I was considering opting for. Do you know how long on average it takes to receive the proceeds after the sale? Also if I withdrew using Paypal, would I not have considerable fees to pay? Can I withdraw direct to my bank account for free? (assuming I have a bank account which will accept the withdrawal). Maybe I could try the bank account & if that didn't work, then opt for Paypal?

Thanks again for your reply.

Bitstamp.net may worth considering too.
They do have BTC-GBP pair (and BTC-EUR, and BTC-USD)
They have offices in UK (amongst other countries), which is a plus in case of problems.
And from what I've read (https://www.bitstamp.net/faq/bank-withdrawal/) (I'm not from UK) they can process UK PFS payments.

Yes, you should be able to withdraw directly to your bank account[1]. I couldn't find anything about Faster payments but for Instant card withdrawal, you can see the fees here[2].

[1] https://help.coinbase.com/en/coinbase/getting-started/add-a-payment-method/payment-methods-for-uk-customers
[2] http://help.coinbase.com/en/coinbase/getting-started/add-a-payment-method/instant-withdrawal

Thank you all for your replies - they make the process look less daunting :)

You should think about CEX.IO
I think they do business in the UK, London. they announced their crypto debit cards (only for UK citizens for now), where you will be able to use them on any ATM or POS terminal. maybe it can be useful to you.
I use them for 7+ years without serious problems.

i'm not from the uk but i can say i also use CEX.IO for 3 years and almost every day and they are trustworthy


It is sad that even today all card providers do not have support for Africa, it seems that the world is only in Europe and America

Bitstamp exchange is registered and located in London United Kingdom, they started their business back in 2013 and they have solid ranking for trading Bitcoin.
I know some people from UK are using Coinbase a lot, but I would be very careful with using any centralized exchanges and consider using decentralized options like Bisq.

I used to do online marketing, years ago.
I remember the highest priority and highest value has always been for countries where more is spent online. unfortunately, most of Africa is not, so it was a waste of resources. You can't get almost anything from there.
also, African states are very conservative and closed for the foreign financial sector. It's going out of their control and governments don't like it.

Coinbase, as others have said, appears to be the safest to use, if indeed you don't mind hefty fees -- they're also easy to do tax with apparently, according to a colleague who's lived there for 3/4 years and trying various exchanges.

I've used Bitpanda for about the same number of years for SEPA and they seem to have retained withdrawals for GBP. No commissions/fees for withdrawals or sells, and a buy/sell rate that's rather much better than Coinbase -- of all the licensed and regulated exchanges that work in EU and UK, this is the only one I use (and "trust").

@examplens @Slow death Yeah, I did some affiliate stuff even back in the late 1990s and early 2000s and you could see the trend begin. Almost equal rates for traffic and leads everywhere when it all started, and then you'd get $2 leads for US emails, $1 for Europe and then rest of the world mere cents for PAID leads. It was understandable then but the bulk of online spending today isn't from US and Europe anymore... it just simply isn't captured by Visa/MC/Amex as fintech and local solutions have stopped waiting for them to catch up.

Well 3 months have passed since I started this thread enquiring which exchanges are best to use if you live in the UK and which convert BTC into GBP. I didn't sell at the time but am considering selling a small amount now. Does the same advice still stand? Are Coinbase, Bitstamp or CEX.IO still the best? Does it matter much that Coinbase is centralised and Bitstamp isn't (if I've understood that correctly)? Also what about Bisq as someone mentioned - I've never heard of it - is it reliable? (I'm leaning towards Bitstamp). My main priority other than safety is being able to sell in GBP and withdraw to my UK bank account. Thanks in advance for your advice.