beanhead (OP)
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May 15, 2013, 06:50:29 PM |
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So, I am a newb to this, been mining for a month or so, mainly Litecoin and have managed to generate a healthy amount.
I live in the UK, how in gods name do I cash out either without paying silly fee's or getting ripped off?
Is there anyone else in the UK that can give some sound advice?
Cheers,
Beanhead
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BitshireHashaway
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May 15, 2013, 08:32:32 PM |
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You could try selling them on Vircurex. If you have a nice amount (as you said), then you won't need to worry about transaction fees, transaction fees are to make people from spamming the system by sending small amounts.
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beanhead (OP)
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May 15, 2013, 09:04:15 PM |
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Thanks for the reply.
I've had a look at the exchanges, but my question is more, once sold, how do I get the cash in to my UK bank account?
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BitcoinBoss
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May 15, 2013, 09:19:08 PM |
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I have been trying to find a way to buy LTC for £GBP and this seems near impossible to do on the current exchanges. Why is cryptocurrency so tough to trade when it comes to £GBP? People don't seem to have the same problem when using $USD.
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hotwired007
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May 15, 2013, 09:28:07 PM |
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I have been trying to find a way to buy LTC for £GBP and this seems near impossible to do on the current exchanges. Why is cryptocurrency so tough to trade when it comes to £GBP? People don't seem to have the same problem when using $USD.
how much are you willing to pay for LTC<>GBP? |
This account was hacked & possibly sold during the period of August 1st and October 24th 2017.
Anything done or said in this period wasnt me.
Many thanks to Cyrus for his help restoring access to my account.
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spiderJ
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May 15, 2013, 09:45:02 PM |
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Thanks for the reply.
I've had a look at the exchanges, but my question is more, once sold, how do I get the cash in to my UK bank account?
On https://btc-e.com/ you can withdraw your money straight to Paypal (assuming you've got a Paypal account). I think the fee is about 6% |
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beanhead (OP)
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May 15, 2013, 09:55:17 PM |
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Thanks for the reply.
I've had a look at the exchanges, but my question is more, once sold, how do I get the cash in to my UK bank account?
On https://btc-e.com/ you can withdraw your money straight to Paypal (assuming you've got a Paypal account). I think the fee is about 6% 6% is quite hard to stomach. Think I'll have to look in to private exchanges with escrow. Thanks for your answers all. |
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scab
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May 15, 2013, 10:54:52 PM |
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Do not a lot of people in the UK use Bitcoin or something?
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beanhead (OP)
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May 16, 2013, 07:59:24 AM |
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It doesn't seem to be as prolific as elsewhere in the world.
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evilscoop
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May 16, 2013, 08:05:21 AM |
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there are issues in the uk banking system and bitcoin...
we have risks of account closure and all sorts of crap...
Best way to cash out, get your btc to bitstamp (a uk based company) and trade them out to usd
withdraw these via sepa transfer to your account....
I suggest you get a burn account, I use lloyds, just in case they decide to close the account ....
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beanhead (OP)
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May 16, 2013, 08:06:55 AM |
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there are issues in the uk banking system and bitcoin...
we have risks of account closure and all sorts of crap...
Best way to cash out, get your btc to bitstamp (a uk based company) and trade them out to usd
withdraw these via sepa transfer to your account....
I suggest you get a burn account, I use lloyds, just in case they decide to close the account ....
Thanks for this. |
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evilscoop
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May 16, 2013, 08:10:42 AM |
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not a problem, their arnt many from uk around  there is a new exchange being built in the uk, with full regulation, so it may get easier in the future, atm our most friendly exchange is bitstamp... You could also go the okpay route...but tbh I dont like okpay shout me on pm, if you need any more info....tis a shame we live in v.v.v. closed banking system |
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Kruncha
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May 16, 2013, 10:26:16 AM |
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there are issues in the uk banking system and bitcoin...
we have risks of account closure and all sorts of crap...
Best way to cash out, get your btc to bitstamp (a uk based company) and trade them out to usd
withdraw these via sepa transfer to your account....
I suggest you get a burn account, I use lloyds, just in case they decide to close the account ....
Good info  I haven't needed to cash out yet, I thought I'd worry about that when the time came. Hopefully we'll have our own exchange when the time does come. K. |
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astrobooey
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May 16, 2013, 10:28:37 AM |
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Thanks for the info guys. Will be useful on my future endeavors =]
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philivey
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May 16, 2013, 11:07:36 AM |
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I always use p2p, great in the big cities!
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Ashkelon
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May 16, 2013, 11:26:51 AM |
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otherwise, there was a cash for btc thing going in london up until last year. is it still there? does it still exist?
who knows
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dominus mysteria
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