Hey,

Just getting into the game (been following for a while but never jumped in) and was wondering if any of the UK guys could spread some wisdom on the best way to trade bitcoins for GBP.

I've read a few posts on reddit, here and other forums and the general consensus appears to be to use localbitcoin. Would you guys agree?

However, I was wondering. Is there anything stopping me trading on btc-e or similar for USD and getting that paid directly to a UK bank account? (I realise that I'd get charged for the conversion)

Yeah, localbitcoin tends to have a premium on the cost of coins (which is not bad for a seller, ha) but I've read a few bad things about people getting bank transfers reversed (one guy to the tune of £3500, which was recently)

Just thought I'd put it out there to get some insight into what people tend to do. Also, I've gotta post sometime if I want to get into the other sections


If anyone cares, which you may not. I'm not in it for the get rich quick, I'm planning on keeping my fair share that I get because its a great idea but I would like to recoup the costs of the rig I bought by selling the first few. (I'm mining altcoins with GPUs)

Sorry for the long post