The sell ETH withdraw GBP kerfuffle?

[Kakashi2017]

Morning guys,

I'm new to the cryptocurrency game. Invested £200 in ETH when it was valued at £79. Sitting on a tasty portfolio of ~£700. I thought that was impressive, but my cousin in Hong Kong who brought this to my attention invested £2k when the value was around £20. Don't know what possessed him to do this, but he recently sent me a screenshot of his portfolio which is ~£70k. So the gamble worked pretty well for him (the beautiful b**tard).

Anyway, since monitoring the Altcoin discussion posts here for around a month I thought lets withdraw £500-ish for myself and the remaining amount I could potentially dilute my investment into up-and-coming coins (I like the look of Waves and Storj atm).

However, and this is the issue I'm facing currently. I can't find anywhere which lets me withdraw my ETH for GBP. Or nowhere where the process is straightforward. For example, Coinbase have this weird SEPA Euro route which is not only confusing, but has also received negative reviews in the Coinbase community. As for Kraken, there are fees up to £60 odd which I thought was quite a lot.

I'm not sure if the Kraken process is simple or not, but is it worth forking out the fees through them?

Or is there another route which I'm just being a nonce and not aware of?

Cheers guys.

K

[2bfree]

I just use a debit card but getting one is time consuming took me 2 weeks that is the only way I do it, but mainly pay bills but it does work at the atm as well for cash i jsut dont' do it because of big fees so i use to pay for things. you can try localbitcoins try to find a cash buyer maybe

[Kakashi2017]

Cheers bud. Appreciate your time to reply.


There's probably a market there for someone in the UK to make a simple straightforward process for people wanting to cash out (charge commission to make money). I understand the technology behind this is not easy to comprehend for the average joe, but maybe my choice of wording is wrong. A simple-to-navigate website to allow this should be considered by developers wanting to exploit this.

Probably why Snapchat is so liked, due to its simplicity to use.


I think many would agree with me in that they don't want to send coins to a wrong HEX address (as getting something slightly wrong could mean losing it forever). So there should be like prompts/tutorials to show how to use the website. Rather than a long-winded FAQ?

[mining1]

But if your bank account is in some other currency then you can withdraw euro and the bank will do the conversion.

[Minecache]

Use Kraken. The cheapest method is sell ETH into EURO then SEPA to your bank to convert into GBP.

[LiquidMining]

I'm new to altcoins too, and being from the UK I also had this problem.

As luck would have it my friend actually works for a company with a solution to this issue. You open a bank account (free), Verify your details using your driving license and a utility bill and then you can create other accounts in this account for Euros, GBP and Dollars. Each account has its own sort code/iban etc. PM me an email address and I'll send you a signup link that will give you a free transfer up to the value of £500.

You can use it to deposit in euros and convert to GBP at a very decent exchange rate and deposit into your UK bank

Since this is a new account  that I've just signed up with just to help you out, I'll forego the standard rhetoric and say:
"Create a new gmail! Don't give him your real email!"
"Double check the link for any malware!"

Feel free to take any precautions you deem necessary. Everything is above board and I'm not after your money, but by emailing you a referral link I get something in return when you use the service.

Cheers

Edit: Forgot to mention they have loads of other currencies too, about 16-20 I think

[Minecache]

Why does he need to sign up to some unknown when he most likely already has a UK bank account? To the OP just sell the ETH to EURO then SEPA direct to you bank account. Kraken themselves even recommend this method as being the cheapest and fastest. Just ask them if you don't believe me. It's incredibly simple.

[LiquidMining]

It's far from unknown, and he'll get a better exchange rate. I would post the referral link publicly but it's got my surname in it which for obvious reasons I would like to avoid publicising. I was just trying to help someone out, no need to get so hostile.

[Kakashi2017]

@Minecache
@LiquidMining
@mining1

Appreciate your advice guys. Thanks