Turning Bitcoin into ££££

[bitfocus]

you should use a crypto exchange that supports GBP.

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[mOgliE]

Hi,

There are two main solutions, and these solutions are available for most existing fiat currencies:

- Either you go on a dedicated echange platform. Even if your currency is not on the available list, you can surely turn bitcoin for dollars and then.. well in your country you can go to any exchange shop.

- Or you can go on websites allowing you to be put in contact with people near you, that are ready to give you cash in exchange for bitcoin.

Both solutions are quite safe. The first one is easier, the second one less expensive (especially if you have to deal with dollars, because you will pay twice an exchange fee).

[nalinpuri]

You can sell Bitcoin,Ethereum,ripple,Bitcoin Cash into Fiat money by using this site---- www.Cex.io. They first trade the Cryptos which i told you to fiat money and then you can transfer it to your Visa,Mastercard and debit/Credit cards. Its a very nice site.  

And the site also support trading with GBP.

[Watermaxets]

You can sell through litebit.eu. It's a merchant who sells and buys crypto currencies and sends the money to your bank account. I have bought cryptos several times from them and they seem to be honest (located in Netherlands).

I'm not familiar on this trading, exchange Bitcoin into pounds. hopefully anyone in the crypto community will provide as basic ideas or knowledge regarding on this. I'm interested to learn and understand the principles, it would be a great help for me. Thank you!

[UAE Seasider]

You need to find one of the exchanges that allows FIAT pairs and funding both in and out. Coindesk is one choice for you if you are based in the UK or the EU, Kraken you can use globally.

[feelideb]

Coinbase is collaborating with big bank in the UK and Europe. The bitcoin/fiat conversion difficult should be solved soon. Meanwhile you can sell your coin on some European exchange or look for peer to peer website for sale of your coin.

[gentlemand]

When it comes to GBP nobody should be considering using the few exchanges there are. That's not because they're evil, I wouldn't really know, but GBP has pitifully low volumes wherever it pops up. There aren't enough buyers or sellers to prevent horrific slippage.

Coinbase will soon be the best option by the looks of things. Beyond that it's OTC or LBC still.

[gentlemand]

https://www.finextra.com/newsarticle/31969/transferwise-becomes-first-non-bank-to-open-settlement-account-with-bofe-rtgs

Transferwise, an occasional crypto supporter who had to reject crypto business because of bank pressure, now will have direct access to the faster payments network and other banking goodies directly without having to go through existing retail banks.

If they return to crypto that could make accessing foreign exchanges cheaper and quicker, especially USD ones as there's a few options for EUR already.

For some reason Brits are one of the very few dirty foreigners that Gemini accepts. That could make a neat combo.

[gentlemand]

Like others have said, local bitcoins is a great way, but now they participate in KYC you might end up getting a tax bill. I'd recommend sticking to face to face transactions, no fees that way.

You can also use coinbase, but of course the fees will be higher as they're a platform.

I doubt Localbitcoins care in the slightest about your tax bill, but I suppose it's conceivable the tax man might demand info from them but only during a tax investigation. It might be quite some time before anything like that happens.

I'd rather pay taxes myself than meet hundreds of strangers while I was loaded down with BTC.

[loveinberlin]

I think there must be some wallet that will help you to transfer your bitcoins into pounds. You can call to the bank and ask the manager if it is possible to get money transfer to your bank account.

[Leonard2016]

Have you tried Localbitcoins ?
Not only pound but also any kind of currency in any country , In any country you can find some bitcoin nerd on localbitcoins to deal with!

[btyco]

Has anyone tried using a bitcoin ATM to cash out? The fees are probably ridiculously high but it could be an easy way to convert coins into fiat. Unless we're talking about whale quantities of bitcoin in which case localbitcoins is probably the best option here.

[gentlemand]

Has anyone tried using a bitcoin ATM to cash out? The fees are probably ridiculously high but it could be an easy way to convert coins into fiat. Unless we're talking about whale quantities of bitcoin in which case localbitcoins is probably the best option here.

Most only sell to you. There are a handful that buy off you. The ones that I checked had a spread that would make you blub.

With coinbase doing faster payments soonish and a few debit cards like wirex popping up ATMs will look sillier than ever. They should be promising but it's clear either they're not making enough or owners are piss takers

[usekevin]

Yes.To convert your crypto currency into pounds,localbitcoin will be the only option.Not only pounds,but also you can exchange USD.In Localbitcoin,you have lot of options and it's the secured one.You can hold your bitcoin in localbitcoin wallet.I had my holding in localbitcoin more than one-year.

[Nana1]

Great questions and good answers. I have been thinking about this for long and I have gotten an option now: Localbitcoins.

[Ararbermas]

What’s the best way to turn crypto into pounds uk?

I know you prob get asked this a lot but I’m finding it hard to find the best way to do this. Can anybody help me out thanks?

search for online wallets that support on your country mate which is accepting crypto currency as well. I think YouTube is the way to find some information when it comes to finding online wallet that support in different country. 'cause most people nowadays sharing tutorial how they can convert bitcoin in easy way in their country. So just search bitcoin then "how to convert bitcoin into fiat" along wilth the name of your country. and don't forget to search it on Google also.  I hope it can help,  regards

[Gozie51]

Great questions and good answers. I have been thinking about this for long and I have gotten an option now: Localbitcoins.

Yes, that seem the most convenient. Most users here operate on that and that works just very fine. Meanwhile, in whatever transaction you are doing, you ensure you introduce an escrow.

[TheQuin]

With coinbase doing faster payments soonish

I'm still sceptical that will ever happen. I don't see how they are going to be allowed to do that when every other exchange that has tried has had their bank account shut down.

Did you see the latest from Coinfloor?


Asset   Minimum deposit amount   Deposit fee   Minimum withdrawal amount   Withdrawal fee
Pound Sterling (GBP)   5,000.00 GBP   5.00 GBP   2,000.00 GBP   60.00 GBP

[gentlemand]

With coinbase doing faster payments soonish

I'm still sceptical that will ever happen. I don't see how they are going to be allowed to do that when every other exchange that has tried has had their bank account shut down.

Did you see the latest from Coinfloor?


Asset   Minimum deposit amount   Deposit fee   Minimum withdrawal amount   Withdrawal fee
Pound Sterling (GBP)   5,000.00 GBP   5.00 GBP   2,000.00 GBP   60.00 GBP

Coinfloor are trying very hard to piss off their customers. They keep banging on about institutionalness. I wonder if they do have any customers of that calibre. 

If anyone can secure faster payments it's coinbase. Barclays have flirted with crypto on and off. It would take a crypto heavyweight like coinbase to put them in the right frame of mind.

[iagyei259]

UK is a crypto friendly nation and there are a lot exchanges and even individuals that can take your bitcoins and give you cash in pounds. Visit localbitcoins.