How to Sell Bitcoin in the UK?

Source: Bitcoinist

It is not a secret that the world has changed in the last 10 years. The entire planet Earth got some new inventions and the habits of people have changed because of them. First of all, technology has made huge progress. We know different ways of how people communicate. More precisely, the development of social media changed that. Businesses are now advertising differently as well. Despite that, the new electrical vehicle changed the way people travel from one place to another.

Yet, the biggest change of all has come because of the development of cryptocurrencies. More precisely, Bitcoin has changed the way people buy and sell things.

This was a controversial subject for a long period. Some people still believe that cryptocurrencies are a complete scam. Yet, the number of people that started to invest in BTC and other cryptos is drastically improving. This especially counts when we talk about economically strong countries such as the United Kingdom.

Source: Bitcoinist

Many people already bought BTC and they are waiting for the right moment to invest it or sell it. However, they are not sure which way is the best one to do that.

Well, we will give you a couple of solutions that you have. Yet, there is one thing that we need to say. Do not sell BTC until you see the right opportunity to do that. Recognizing good opportunities requires the improvement of knowledge about the crypto world. That’s why you should visit Bitcoineras to improve your knowledge about this industry. There you can find out the best way to earn money thanks to Bitcoin.

Anyway, let’s get back to the point. The citizens of the United Kingdom have several different ways to sell their BTC.

Let’s find them out together.

Bittylicious

Source: CoinDesk

Well, this is one of the UK-based companies that can help you sell your BTC. The history of the company is not long. It started to work in 2013. However, keep in mind that cryptocurrencies are a new invention. So, we can say that this is one of the oldest UK BTC companies. Despite that, it is recommendable that you check the reviews of their previous clients. You will see a huge number of 5* so,

Anyway, when you access the website, you probably won’t be amazed. The interface of the website is a little dated. Yet, if you are a beginner, then you can be sure everything will look simple. The interface is very easy to use and you won’t get confused.

The important thing to know is that their fees vary from day to day. They are probably following the changes in the market. Anyway, on average, their fees are usually around 1% of the total amount. However, comparing to some other companies, this is a very low fee. You will get slightly less than the real BTC to GBP exchange rate.

Anyway, another advantage that you will like is that they support UK bank transfers via Faster Payment Services. More precisely, the entire exchange process won’t last long. After only a couple of hours, the money will be on your bank account.

Wirex

Source: Wirex

This crypto-friendly currency account brings new options to UK users. First of all, you should know that the exchanges are not limited only to GBP. It supports two more fiat currencies – Euro and American Dollar. So, if you are planning to get some money before traveling to the EU, that won’t be a problem. Despite that, it is good to know that every user will get a Wirex Bitcoin debit card. This debit card is currently available in the UK and Europe as well. Of course, when we say “Europe”, we consider countries where BTC is a legal payment method.

The fees are extremely competitive comparing to some other exchanges. Just like the previous one, you will pay only 1% of the total amount when exchanging BTC to GBP. You are probably wondering if there are some hidden fees. Well, you don’t have to worry because they do not exist.

We already said that the importance of interface is quite important. The beginners do not have to worry. The interface of Wirex is simple and easy-to-use.

Once again you will be able to use the services of FPS. You won’t have to wait for days to get your money. It will be on your bank account for a couple of hours.

Still, there is one alternative that users can use. The users have the option to leave their GBP to their Wire account and spend the balance via crypto debit card. You won’t have additional fees when ordering this type of debit card. Yet, there is a monthly management fee of 1 pound. However, absolutely every credit or debit card brings some additional fees. We believe this won’t be a problem for you.

Coinbase Pro

Source: Coinbase

Believe it or not, this is the first major BTC exchange in the UK. It is the first one that started to support the exchanges of BTC to GBP. Despite that, it is the first one that started to support GBP withdrawals with the Faster Payments Services

Anyway, we need to be honest with one thing. The interface itself is a bit more complex comparing to the previous two exchanges. However, you don’t have to be a genius to realize how to sell your BTCs.

Still, the biggest advantage of all is good trading fees. Believe it or not, the fees are only 0.5%. There is also a GBP withdrawal fee of only 1 pound. Despite these two costs, there are no other hidden fees. That’s why many BTC users believe this is the cheapest way to sell Bitcoin.

We will explain the entire process of selling in a couple of sentences. First of all, you need to make a Coinbase account. For that step, you have to verify your identity and connect it with your UK bank account. After that, you primarily transfer BTC to your Coinbase Pro Wallet. After that, you will have to use a “market sell” option to sell your BTC for GBP. When you do that, you need to transfer money from Coinbase Pro to Coinbase. Finally, the last step is to withdraw the money to your bank account.

We believe it doesn’t sound complex.

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