Anyone else in the UK?

[paulfoel]

Got any tips for getting started? Its not so easy it seems in the uk.

So far I've managed by doing the following:-

1. Buying off bittylicious. PROS - It works and you can pay by bank transfer in £. CONS - You have to start off small, and its premium price (between 4$ and 8$ I've found).

2. Set up wallet on greenaddress. PROS - Easy and free. CONS - Costs to move bitcoin around. Buy off bittylicious and stick here.

3. Open account with bittrex. PROS - its easy enough. CONS - None. Transfer bit coins in from greenaddress wallet.

4. Trade and buy alt coins on bitrex.


Not yet tried withdrawing back into real pounds. Be interested to hear from anyone in the UK.

[LittleBitFunny]

1. Buying off bittylicious. PROS - It works and you can pay by bank transfer in £. CONS - You have to start off small, and its premium price (between 4$ and 8$ I've found).

You could try Bitstamp, although exchanges are nearly snowed over right now.

2. Set up wallet on greenaddress. PROS - Easy and free. CONS - Costs to move bitcoin around. Buy off bittylicious and stick here.

Yep, greenaddress is pretty solid.  You could try a software wallet like Electrum, hardware wallet like TREZOR or both together, and this would be pretty secure/user-friendly.

4. Trade and buy alt coins on bitrex.

Good choice.  You've clearly done your research on exchanges and wallets (avoiding blockchain.info and Poloniex).

Not yet tried withdrawing back into real pounds. Be interested to hear from anyone in the UK.

Unless you're a trader, just spend.  Don't think of it as "real money" and "Bitcoin".  Fiat money is not backed by anything anyway.

[paulfoel]

1. Buying off bittylicious. PROS - It works and you can pay by bank transfer in £. CONS - You have to start off small, and its premium price (between 4$ and 8$ I've found).

You could try Bitstamp, although exchanges are nearly snowed over right now.

2. Set up wallet on greenaddress. PROS - Easy and free. CONS - Costs to move bitcoin around. Buy off bittylicious and stick here.

Yep, greenaddress is pretty solid.  You could try a software wallet like Electrum, hardware wallet like TREZOR or both together, and this would be pretty secure/user-friendly.

4. Trade and buy alt coins on bitrex.

Good choice.  You've clearly done your research on exchanges and wallets (avoiding blockchain.info and Poloniex).

Not yet tried withdrawing back into real pounds. Be interested to hear from anyone in the UK.

Unless you're a trader, just spend.  Don't think of it as "real money" and "Bitcoin".  Fiat money is not backed by anything anyway.

Thanks. Yes awaiting verification by bitstamp.

Hear what you're saying but, until things ramp up a bit with spending on things like bitcoin, its just pounds that pay my mortgage etc. £100K worth of bitcoin sitting in a virtual wallet wont make a huge difference to my life - but £100K cash will.

[LittleBitFunny]

1. Buying off bittylicious. PROS - It works and you can pay by bank transfer in £. CONS - You have to start off small, and its premium price (between 4$ and 8$ I've found).

You could try Bitstamp, although exchanges are nearly snowed over right now.

2. Set up wallet on greenaddress. PROS - Easy and free. CONS - Costs to move bitcoin around. Buy off bittylicious and stick here.

Yep, greenaddress is pretty solid.  You could try a software wallet like Electrum, hardware wallet like TREZOR or both together, and this would be pretty secure/user-friendly.

4. Trade and buy alt coins on bitrex.

Good choice.  You've clearly done your research on exchanges and wallets (avoiding blockchain.info and Poloniex).

Not yet tried withdrawing back into real pounds. Be interested to hear from anyone in the UK.

Unless you're a trader, just spend.  Don't think of it as "real money" and "Bitcoin".  Fiat money is not backed by anything anyway.

Hear what you're saying but, until things ramp up a bit with spending on things like bitcoin, its just pounds that pay my mortgage etc. £100K worth of bitcoin sitting in a virtual wallet wont make a huge difference to my life - but £100K cash will.

Yeah, I get that.

The UK is pretty crypto-friendly really.  A lot of major US and European services have UK customers as well, and cryptocurrencies are just commodities for tax purposes I think (not that HMRC would actually bother enforcing any laws about cryptocurrency taxes).