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Author Topic: Cheapest way to buy Bitcoins with GBP in UK Bank Account.  (Read 1602 times)
nibor
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August 10, 2011, 12:03:19 PM
 #1

I only want to buy a few 10's so market liquidity is not that important.

Has anyone done the analysis?

Options I seem to have are:

1) Transfer to MtGox in GBP. They convert into USD and then buy their.
2) Use Britcoin. Here I think I will incur lower fees, but not such a tight spread?

Any other options that are more efficient?


Thanks

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Ten98
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August 10, 2011, 12:57:07 PM
 #2

Britcoin all the way.
BTCnewbie
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August 15, 2011, 10:23:33 PM
 #3

I use mtgox UK account and they place dollars in my mtgox account within a couple of days. Buy the bitcoins, sell them for profit on britcoin and withdraw direct to my UK bank account.
The circle is quite tedious.
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August 15, 2011, 10:50:12 PM
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Personally I'd use britcoin as you'll get no fees so not have to account for them if you're speculating.
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August 16, 2011, 12:05:15 AM
 #5

I use mtgox UK account and they place dollars in my mtgox account within a couple of days. Buy the bitcoins, sell them for profit on britcoin and withdraw direct to my UK bank account.
The circle is quite tedious.

Just a friendly warning, if you do that enough times with enough money, your bank & the inland revenue are going to start asking some questions about what it is that you're doing...
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