What's the best way to sell your crypto and get the money into your UK bank account

peas

Hi,

If you have FTC (e.g. from mining) and you want to turn this into Sterling into your bank account - what is the best way.

Any information or mechanisms people are using would be much appreciated.

BTC-e seems to be a bit of a fortress for getting money out.

Best

peas

e.g. anyone used https://localbitcoins.com/ (e.g. turning FTC to BTC first of course).

?

Thanks.

uncle_muddy

https://bittylicious.com/

or, we can do bank transfer etc if your interested?

Kevlar has offered escrow services in the past to gives us a little more security

peas

Thanks uncle_muddy.

Last time I looked at bittlicious.com as a seller you need to be able to supply a serious amount of regular coins - that is not something I have.

From: https://bittylicious.com/application

Secondly, you should be ready to sell a reasonable amount of virtual currency. At a minimum, you should be able to sell at least Â£1000, â‚¬1200 or $1500 per week in BTC, but less with altcoins (although still a reasonable amount please!).

peas

So I was really asking - not what should be possible - but what people have actually used and has worked for them (not sure if I am asking a wrong question here - maybe it’s a secret) : )

uncle_muddy

Ah right, well I have used https://bittylicious.com/ as both a purchaser and a seller. It works well and is fast, providing you don’t lock yourself out of your on-line banking app half way through a transaction :-[

No complaints with it to be honest, but you have to remember as a seller that like all of these things, there are others trying to sell and you may have to undercut them to be at the top of the list if you want to shift your coins fast

kris_davison

I’ve never tried being a seller yet. But as a buyer the service is great.

Is there a minimum amount of coins you have to be able to sell? Can you kind of hop in and out with coins to sell when you like? (once your setup that is)

uncle_muddy

They ask you to have Â£1000 a month to sell as part of the setup process, once setup you can decide when to trade and when not to. I’ve got a pile of coins sitting in there at the moment waiting for the prices to go up a little to help pay towards a new rig :)

rob_1990

I trade my FTC to BTC at btc-e.com. Then I transfer the BTC to my account at bitstamp.net where I trade them to fiat. When sold I withdraw to my bank account which usually takes 3-4 business days. I mostly use SEPA transfer but I’ve accidently selected international wire transfer so I can confirm that also works fine. I live in Sweden and withdraw to a swedish bank account. I guess it should work just as smooth with a UK bank account.

+1 I trade on BTCe and transfer BTC to Bitstamp. Withdrawing to my UK Barclays account usually takes 2-3 days.