Any UK miners out there with advice on where to exchange for GBP?

edited January 2014 in Bitcoin

Having spent quite a lot of time googling, I can't seem to find a simple (and cheap) way of exchanging BTC for GBP and getting that cash into a UK bank account in reasonable time. Has anyone had any success?

Comments

  • Hi


    Im in UK as well and i just got an account with Bitstamp however they only exchange to Euro. I am going to talk with my bank if they can accept in my account Dollars and then exchange to Pounds. ;-) 
  • I'm not in the UK, but here are some wild thoughts.

    coinbase.com ... maybe.

    If you can get it into euro, which you can also do through btc-e.com, you MIGHT be able to work through a conventional currency trading firm like oanda.com or even someone like paypal to switch to GBP.  Note, at least with USD, it's hard to get conventional currency OUT of btc-e.

    Ron

  • edited February 2014

    May have sussed it. Citibank offer current accounts denominated in EUR and USD. No FX conversion required. Applied, so I guess we'll see. Citibank certainly accept SEPA transfers, so there's no reason why it won't work.

  • hi,

    i use www.kraken.com, trade the bitcoins to euros then withdraw them by sepa transfer to my uk bank account. takes about 1-2 days to transfer the funds to uk.
  • Localbitcoins.com

  • Hi I am in Cornwall UK,  I have just started an S3 "Ballanced Load" mining here. I was on Slush's with GMC as my Failover.  I'm gonna see who pays the most after a week.

    HOW TO TURN BTC INTO GBP.

    1. Open a Bitgold account. They are in Canada  (i am affiliated. You and I get a small bonus if you join with this link BitGold.com/r/DRs5Jc

    2. Add UK Bank account (if you open a prepay credit card with Cashplus or Ffrees they will give you an Acc # and sort code you can use if you don't want use your current acc.  It will have  to be validated with ID ).

    3. Deposit your BTC in your Bitgold Account for X Grams of Gold (Costs 1%).  Make sure you deposit your gold in a vault in DUBAI.  No storage fees free insurance.

    4. Redeem your gold from your Dubai vault into your GBP UK bank account (1% again).

    5. Wait 3 days for funds to clear. (no foreign exchange rate to pay)


    Or you may want to watch the gold market, its on the way up, sometimes up to 3% in a day, sell at the right time you may make some.
    Good Luck

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