Buying Bitcoin for Cash (bank account) in the UK

[jbmac1967]

What site is the best to buy bitcoin for cash ie from bank account

I have seen Kraken and bitbargain

Anyone know who is the best to use

[bennybong]

localbitcoins.com - flawless.

[djarot]

ZipZap

[Armis]

localbitcoins.com - flawless.

"flawless"?


hummm, op make sure to read at least 6 hours worth of material there before you do your first trade/transaction


I read how one seller who was doing a btc for cash to bank transaction got ripped off, AND embroiled in a multi-state criminal investigation because of it.






 

[seafarer124]

I use BitStamp via NatWest.  Never had a problem.  To date have done about ten transfers.

Costs GBP10.00 bank fee for the transfer.

Check out the cost difference using LocalBitcoins, their prices can be quite high compared with BitStamp.

[grifferz]

I read how one seller who was doing a btc for cash to bank transaction got ripped off, AND embroiled in a multi-state criminal investigation because of it.

For a buyer, though, paying by UK bank transfer, LocalBitcoins seems pretty safe.

Disclaimer: I am selling there myself.

Most UK banks seem happy enough to do SEPA transfers in EUR to exchanges like Bitstamp and Kraken. They will charge you £8-£10 per transaction. My transfers to Bitstamp seem to take 1-2 working days. My transfers to Kraken have all happened same working day so far.

[davidgdg]

Local bitcoins is safe and quick. You pay by bank transfer. The coins are held in escrow so there's no risk. Or use bitstamp - lower prices but you have to provide ID and pay transfer fees so it is only worth it for larger purchases. Don't use BTC-e (read up on forum).

[champsak]

Bittylicious is quick and easy.

[franky1]

bitbargain is like local bitcoins, where it lists people online that do transfers via bank transfer, and other methods. but the best thing is that escrow is mandatory.

[Bonio]

MTGOX.com

You can use bank transfer money appears reletively quickly in your trading account, then you can make quick trades.

There is just a couple of small glitches right now though, but Bitcoin is all about excitement and thrills as an investment!

Oh and you will have to divulge lots of personal information but dont expect any information flow in the oposite direction, questions like where is my bitcoin are a waste of energy.

Seriously though, if you are in the UK and you just want to buy try bitbargain, I have used them in the past although it can seem complicated. Other than that you will need to send Euros to an exchange that accepts them and if they are in the Eurozone then it should be cheaper than sending $ to the US.

If you are new to this lark though do lots of researcha and be prepared for the worse, in other words 'gamble' what you can aford to lose (or have locked away in an echange with no access;))

[Bonio]

Oh I forgot to say i'm in the UK and Im now using Kraken but have only just startedusing them but so far so good

[grifferz]

MTGOX.com

There is just a couple of small glitches right now though

This possibly counts as the understatement of the week. Please do have a look in the Service Discussion forum to discover what these "small glitches" might be! And also for a definition of what "right now" might mean in this instance.