Bit2Brit

[Bit2Brit]

Hi Everyone,

Bit2Brit is a new UK bitcoin exchange, we offer great exchange rates on Buying & Selling Bitcoins in exchange for BTC online, and also offer an in person meeting for larger transactions. You can buy bitcoins in the UK here:  http://bit2brit.co.uk/buy-bitcoins-uk and sell bitcoins here: http://bit2brit.co.uk/sell-bitcoins-uk.

If you have any questions please get in touch.

Best Regards,
The Bit2Brit Team

[Stephen Gornick]

If you have any questions please get in touch.

The details were a little hard to find:

Buying:
Fill out your details and click next. You will then be given account details to transfer the GBP to. If you wish to buy bitcoins (UK) through this exchange, the transfer will begin immediately after the funds show in our account.

- http://bit2brit.co.uk/buy-bitcoins-uk  <--- Click the "read more" link.

So that is a GBP bank transfer.

Selling:
How do you deliver?:   We use Royal mail special delivery.

We buy your Bitcoins & deliver GBP banknotes to the UK only.
We dispatch your order the next business day (Monday through Friday excluding holidays).

- http://bit2brit.co.uk/info/shipping-terms


Your post also reads:

and also offer an in person meeting for larger transactions.

Is this for both buying and selling?    And there is no location given. Is this in London?

[Edit: Also, do you accept cash-in-the mail for purchase of bitcoins?]

[OpenYourEyes]

This looks quite sketchy to me. The website looks quite badly put together IMO, little to no TOS & privacy policy, no information on the owner. and the fact you immediately ask for bank account information which is going to be sent over a non-encrypted (No SSL) connection.

[rustynuts]

Some work is definitely needed before it'll be trusted by anyone.  However it's a step in the right direction and I would use such a service.

[majorddf]

The FSA and HRMC will likely view you as a e-money issuer, I looked in to something similar as a venture.

You should be wary of a smackdown due to breach of the Payment Services regulations 2009 and the Money Laundering Regulations 2007.

http://www.fsa.gov.uk/about/what/international/emoney

http://www.fsa.gov.uk/doing/do

http://www.hmrc.gov.uk/MLR/getstarted/intro.htm#2

Presumably you are not registered with the HRMC or FSA, so what provisions to you have in place should they come a-knocking?

[Jessica]

Why not post this in the Marketplace section?

[sethsethseth]

The prices are horrendous.  Use localbitcoins.com to use a bank transfer to buy bitcoins.

[patmustard]

''great exchange rates'' ??

[Bit2Brit]

Hi Everyone,

Your points have been noted and we will be re writing all content & the privacy terms, and add more transparency as to the owner of the website.

Thank you for your feedback.

Best Regards,
Bit2Brit Team

[Bit2Brit]

Hi Stephen,

To answer your questions:

Buying:

To buy Bitcoins through our service you can wire GBP into our account and we send the quoted Bitcoin value to the bitcoin address you specify in the process.

Selling:

To sell Bitcoins for GBP through our service, we generate a unique Bitcoin address for you to send the btc to, and have 2 options of receiving the quoted amount of GBP:

Wire Transfer [we wire you the money to the account you specify in the process]
Royal Mail Special Delivery [we delivery bank notes via royal mail special delivery, dispatched same day if you order before 3pm, and next day if not]

Personal Meet for larger transactions:

Yes we are based in London, however we are flexible as to where we can meet, so let us know where abouts you are and we can make arrangements.

Based on yours and other people's suggestions we are writing new content for the site that will hopefully be more informative, and leave less questions unanswered, we offer a good reliable service and would like for our website to reflect this.

If you or anyone has any other questions in the mean time, please email us on info@bit2brit.co.uk or PM me.

Best Regards,
John
Bit2Brit Team

[Ianwhitbread]

Don't you love forums

Working as it should.

Britcoin has so much work to do. And research if it is legit

[quirky53]

this looks promising will keep an eye on this anyone made an order?

[Stephen Gornick]

Don't you love forums

Working as it should.

Britcoin has so much work to do. And research if it is legit

Well now, ... the forum user hasn't logged in since November 1st (two days after posting) and the site is now offline.

There aren't any reports of anyone claiming to have been scammed but there are no reports of anyone having tried them either.