How do I turn bitcoin into GBP?

[Sherlock]

On a side note, skrill recently announced a currency service: https://www.skrill.com/en/transfer-m...ryptocurrency/

I don't think you can send or receive in crypto, only hold a balance in it (similar to revolut) but worth keeping an eye on in case it does allow crypto deposit and withdrawals, could be quite handy.

You should be able to buy bitcoins (not a derivate) for 1.9% or something like that. You can not sell though (yet).

[Cardy007]

I recently ask Uk bank Halifax and they said they do not accept crypo currencies yet and nothing happening in the immediate future.

I think if you search for a local UK bitcoin cash machine you should just be able to sell your bitcoin there and pull out cash which can then be deposited in your bank manually..... its ok if your talking small amounts. Anything larger than 1k would be a longer process.

[JackTenSuited]

Can anyone recommend an exchange to withdraw bitcoin to a uk business account?

[Sherlock]

I suspect the biggest problem is not the exchange, but the bank where you have the business account. Are you nearly sure your bank will accept it?

[Wiytosenowa]

search for crypto platforms that usually do it, or i have heard about local bitcoins I think it can help

[Cardy007]

Hi Guys

Please help, I have had casinos offering to pay in bitcoin. I know very little about it and I keep coming accross very contradicting things (coinbase is how, and oh no dont use coinbase you wont get your money out being one example).

The idea is nice but how would I go about turning that back into actual GBP (or USD) or any actual currency that I can put in my bank and buy things with?

Has anyone made an idiots guide to bitcoin / crypto currancy yet? If so please point me in the right direction (And only if said guide actually shows me how to turn it from crypto into funds I can put in my bank).

Many thanks in advance.

*Hi Andy - FYI you can also use this website to search for Bitcoin ATM and withdraw cash, its oldschool but you can get fiat from crypto like this; https://coinatmradar.com/search/

[stacey-revenuelab]

Hello, the majority of the crypto exchanges got tools for converting fiat into crypto and back.

If the sums are not that big, just set up 2factor and it will be good enough. Otherwise, consider having a cold wallet (device to keep your crypto without internet connection).

[Sherlock]

I saw Binance started with a fiat branch. Their major pair is GBP/BTC. They are at Jersey: https://binance.je Maybe worth of a look for those who need GBP.

[Moonlight Cat]

i use Bitcoin > Skrill > Bank Account.

[Sherlock]

It is possible to send btc to skrill?

[Moonlight Cat]

It is possible to send btc to skrill?

Yes. I do this every month. Skrill get 1% comission (exchange rate: bitpay). But you may withdraw this money from Skrill only to bank account.

[Simonhilton100]

Have any of your guys checked out https://nash.io/? These guys are building a genuine DEX with FIAT on/off ramps. This will be the securest way to bring fiat into the crypto market. The team are super talented and have ensured that the NASH token is a registered security token. Worth a look, even if it is just to explore how they will help us move our fiat in and out of the crypto market.

[Sherlock]

My problem is not 100% security or 99.999% vs 99.9%. I am ok just with 99.9%. How those new projects will do the AML is my problem. With oldschool exchanges like kraken, I know I can prove that crypto I bought with them X years ago, is the same crypto, so they will get conformation to the bank.

[ddm]

Yes. I do this every month. Skrill get 1% comission (exchange rate: bitpay). But you may withdraw this money from Skrill only to bank account.

Didn't know this. very useful

[Rus D]

Hmmm the exchanger: Localbitcoin? I think it's pretty great site or Changelly.

[Aidan90]

Seen a couple of people mention Coinbase so just wanted to add a bit of advice. Make sure you use coinbase pro rather than the regular coinbase. Has lower fees and more functionality with the same 'easy to use' approach as the regular version.

Fair play to TheGooner for taking the time to leave such quality and informative comments.

[GG-US]

Seen a couple of people mention Coinbase

Do NOT send bitcoin from a gambling site wallet directly to a US exchange. You will get flagged, possibly lose your bitcoin.

They pay for coin metrics and other tracking solutions, most people do "hops" between a gambling site wallet to cold storage, then swap for an altcoin (and back to bitcoin) or create more bitcoin address to hop before going to the exchange and cashing out. Wasabi wallet can also be used to coin join and obscure the origin of your bitcoin.

Gemini and Coinbase 100% know and have flagged gambling site transactions when US customers send direct to their exchange wallet on these sites.

[darkblack]

most popular and secure website for it; CEX io, coinbase and coinmama could be usefull for you