Looking to cash in on some Bitcoins with your GBP (British Pound Sterling)? If so, we’ve written this short article to help you out. There are a few different options, so we’ll introduce a few of the most popular and easiest ways to convert pounds to Bitcoins.
The GBP is one of the most commonly used and respected currencies in the world. The pound has been around for centuries and during the heyday of the British Empire, it was one of the most powerful currencies in the world. Ever heard the saying “the sun doesn’t set on the British Empire”? While at one point in time the sun never set on the pound either.
And now, the sun never sets on Bitcoin. From London to Hong Kong and everywhere in between, Bitcoin is emerging as a major alternative to traditional currencies. At the moment, however, it can be a bit tricky to convert your cash into Bitcoins. Often, you have to transfer money from a bank account to an exchange, and then purchase your Bitcoins. This can take several days to complete.
Don’t worry, however, we’ll show you how to conduct Bitcoin trading, GBP in hand!
Getting Local With Local Bitcoins
When it comes to buying Bitcoins with GBP, or any other currency for that matter, the best option is Local Bitcoins. This great system allows you to set up a sale with local Bitcoin users to buy Bitcoins directly. Of course, buying in person can be a bit tricky as there is always a risk of being defrauded. That’s where Local Bitcoins comes in as they will provide an escrow for you and the seller.
You will also be able to see user profile information and ensure that the person you are buying from has a good reputation among the Bitcoin community. Once you find the right Bitcoin seller, it’s just a matter of trading GBP for Bitcoin. You can also use Paypal, Western Union, and other payment services, but in general Local Bitcoins is used for cash transactions.
In short, sellers will place the Bitcoins in an escrow. Once you hand over your GBP, the seller can then release the Bitcoins. And just like that, you will have Bitcoins in hand! Local Bitcoins is a great way to exchange cash for Bitcoins, so make sure you check out their service. And don’t worry, fees are minimal!
Go to a Bitcoin ATM
Another great option is to head to Robocoin’s Bitcoin ATM machine in London. One machine is located at 25 Boswell Street Holborn, London and will allow you to quickly and easily convert your GBP into Bitcoins. By the time you read this article, there may be more!
Simply insert your GBP into the Robocon ATM, and you’ll get a printed receipt with a string of numbers on it. These numbers are your Bitcoins. You can then use this receipt to access your Bitcoins and transfer them to your wallet. The whole transaction takes only a few minutes. You can purchase whole Bitcoins, or smaller portions. If you have Bitcoins, you can also withdraw GBP!
Best of all, you don’t even need a bank account or worry with the hassle of transfers to buy your Bitcoins. Forget waiting for days on end to get started in Bitcoin trading. With Robocoin’s ATM machine, you can get started in just moments.
So if you’re looking to cash in your GBP for Bitcoins, you’ve got a few different options. We advise you to always be careful when conducting any type of financial transaction. As long as you are cautious, however, you should have little to worry about.
Trading with GBP is also available on bitbay exchange. They have a good mobile app 🙂