Silk Road forums

Discussion => Security => Topic started by: balltripper on March 27, 2013, 06:25 pm

Title: Best method to buy Bitcoins with GBP
Post by: balltripper on March 27, 2013, 06:25 pm
EDIT

Since starting this post I've used BTCxUK and BTC4cash. BTC4cash is the only vendor I will never be using from now on, simply amazing service.
Vendor Page
http://silkroadvb5piz3r.onion/silkroad/user/853d62ae10
Vendor Reviews
http://dkn255hz262ypmii.onion/index.php?topic=142418.0
My review
Vendor: BTC4CASH
Product: BTC - below MtGox Rates. Cash in Post
I'll start by saying I never thought I would see a service like this.
I was sent all coins instantly, at the of the lowered rate and some extra. From the start of communication to having the bitcoins in my walled was under an hour. I'm gobsmacked at how easy, cheap, stealthy and quick this transaction was. I've bought bitoins in most other ways and I can't stress enough, this service is unparalleled on or off the road.
My only concern is they will run out of bitcoins, but vendor has plans in place to aquire more.
Vendor showed amazing trust and offered rapid, thorough and kind communication.
Needless to say I'll be back for more, I won't be going anywhere else in the future.

END EDIT

I've narrowed it down to these methods, anyone who has any more experience with any method please let me know and we can work out which is the cheapest/most secure.

All charges in % are based on the MtGox weighted average.

SR Vendors: My first transaction was with one who is no longer around, can't help but think most are scammers and connecting your SR account to a bank account carries some security risks. Some have option to post cash. My experience was positive and prompt. Best I could find is FromOneToAnother (PrincessHigh in the forum).  Relatively little feedback, though all positive, very little money in escrow so always a chance you might not see anything. Charges 10% only orders greater than £100.

Localbitcoins: Obviously varies on vendor but those with lots of transactions and positive feedback can be trusted, meet in person, OTC deposits or bank transfers. All carry their own risks but the meet in person method has a code exchange that ensures you don't get scammed. At time of writing vendors are charging around 20%, I'm sure this fluctuates though. the website takes a tiny charge too.

BTCxUK: http://64d7qoqgjcw47vvz.onion/ Has a loyal following in the forums, you need tormail to contact them though. Their register page isn't working right now so I cant find out their rates, anyone who has any info on the please let me know.

blockchain.info: As I understand you deposit £ by bank transfer then use them to buy bitcoins, no idea on the rates. Papertrail although not attached to SR large amounts could take some explaining if the bank account is checked. Any info on the would be amazing.

Please, Please, Please share your experiences and hopefully we can document all aspects of each method and work out the best value and which offers greatest security.
Title: Re: Best method to buy Bitcoins with GBP
Post by: bealzebobs on March 27, 2013, 06:49 pm
I've used Bitcoin Nordic a few times, they have a couple of options available to pay for the coins; cash by post or bank transfer. They charge 9% on mt gox price. I've recently been using bargainbitcoin, its pyment by bank transfer, or you can do face to face for large amounts. Seems to be a good system, prices are somewhat negotiable and it takes literally minutes to get the coins. I've never sent cash by post, I'm apprehensive about sending large amounts of cash in the post - it seems like it would be too easy to get ripped off. Buying bitcoins themselves is not illegal as I'm sure you're aware so as long as its not ridiculous amounts of cash being transferred then I don't think theres that much risk, although I have noticed that MTGox dont accept transfers from UK accounts, also BitcoinNordic have a couple of accounts as one has been blocked. I'd like to try BTCxUK seems like they have decent prices, again its just posting cash that concerns me.
Title: Re: Best method to buy Bitcoins with GBP
Post by: balltripper on March 27, 2013, 06:59 pm
Is bargainbitcoin a website? Can you transfer into a UK account with both of those services or does the nordic one encounter extra fees for international bank transfer?
I'm with you with the cash in the post thing.
Thanks for the info.
Title: Re: Best method to buy Bitcoins with GBP
Post by: collapses on March 28, 2013, 12:27 am
Hi, you can buy bitcoins from me using Western Union or Moneygram.  See the link in my signature.

Cheers
Title: Re: Best method to buy Bitcoins with GBP
Post by: Green Camel on March 28, 2013, 12:55 am
If you're looking for the easiest option, blockchain.info is the way to go. Bank transfers have a low daily limit, so you will want to install Barclays Pingit on your smartphone, which is an app that lets you make payments to blockchain.info with a much higher daily limit. It works with any UK bank account, not just Barclays.

When sending the coins to SR, send them through the mixer to 'anonymise' them. There's a 0.5% fee.

The best option is LocalBitcoins as it's both more decentralised and more anonymous. However, it's not worth it if you can't find anyone locally who has a reasonable exchange rate. (I can't comprehend why would anyone pay the ridiculous 9% fee to buy with cash in the mail from Bitcoin Nordic.)

The website bealzebobs mentioned is called BitBargain: https://bitbargain.co.uk/
Title: Re: Best method to buy Bitcoins with GBP
Post by: Ron Swanson on March 29, 2013, 09:49 am
"Blockchain.info ‏UK deposits ceased indefinitely. Apologies for any inconvenience." applies to bank transfer and pingit. no word as to why...
Title: Re: Best method to buy Bitcoins with GBP
Post by: blacklisted on March 29, 2013, 10:52 am
"Blockchain.info ‏UK deposits ceased indefinitely. Apologies for any inconvenience." applies to bank transfer and pingit. no word as to why...

This is not good. I recently tried the site and it just said not accepting UK deposits.
Probably about time I tried localbitcoins, blockchain was just far too convenient.
Title: Re: Best method to buy Bitcoins with GBP
Post by: Ron Swanson on March 29, 2013, 11:37 am
it's probably banking issues, same thing happened with uk deposits at mt gox and intersango and they never sorted it out. bitcoin sellers on here will be happy no doubt.
Title: Re: Best method to buy Bitcoins with GBP
Post by: bealzebobs on April 01, 2013, 07:49 pm
Is bargainbitcoin a website? Can you transfer into a UK account with both of those services or does the nordic one encounter extra fees for international bank transfer?
I'm with you with the cash in the post thing.
Thanks for the info.
Bargain bitcoins a website yeah, bitcoin nordic you have to pay an international bank transfer fee as they are based in denmark.
Title: Re: Best method to buy Bitcoins with GBP
Post by: balltripper on April 01, 2013, 07:59 pm
I used btcxuk, it took almost 4 days but I got the coins at 61.5, very happy with the service, much cheaper than localbitcoins but he could just cut and run one day, bit worrying.
Title: Re: Best method to buy Bitcoins with GBP
Post by: 4737Carlin on April 02, 2013, 03:38 pm
Its nearly impossible to buy BTC now pretty much all the sites are no longer accepting UK depisits of anykind the only site I found was bitbargin.co.uk but the charge about £8 over gox and then block chain take another £10 I just brought £200 and ended up with £182 its a absolute joke looks like its time to start sending money through the post or you could look into using second life theres a 3rd party currency seller there that deals in coin.
Title: Re: Best method to buy Bitcoins with GBP
Post by: bealzebobs on April 03, 2013, 08:13 am
it is annoying paying so much for them, but with their value increasing so fast you soon make that money back if you have a few coins. My balance is going up everyday; I can purchase something then by the next day my balance has replenished itself.
Title: Re: Best method to buy Bitcoins with GBP
Post by: balltripper on April 06, 2013, 01:32 am
Bump to promote BTC4CASH see edited top post.
Title: Re: Best method to buy Bitcoins with GBP
Post by: BTC4CASH UK on April 06, 2013, 01:41 am
Thanks for that mate. Appreciated :)
Title: Re: Best method to buy Bitcoins with GBP
Post by: balltripper on April 06, 2013, 01:55 am
It's the least I could do after the trust you showed me.
I got my first negative karma since writing the review, it was worth it though!
Title: Re: Best method to buy Bitcoins with GBP
Post by: BTC4CASH UK on April 06, 2013, 02:01 am
Sorry about the karma :(
Title: Re: Best method to buy Bitcoins with GBP
Post by: balltripper on April 06, 2013, 11:19 am
The very nature of karma means it'll come back around!
I certainly won't be using any of your competitors (not that I would have after the smooth transaction we had), as I'm 99% sure it was one of them.
Title: Re: Best method to buy Bitcoins with GBP
Post by: abby on April 06, 2013, 02:41 pm
Virwox is euro based and takes paypal as well as all the usual suspects.  the problem is you don't just buy a bitcoin, you have to buy Linden Dollars first (it is primarily a LD to real currency exchange) and then can place a bitcoin order.  Getting it out is easy but as I found, your first transfer out will be held for up to 48hrs as they process that one manually.  The coins are a higher price than on mt gox and you will pay a high commission if you're only buying a few but it's an easy way to do it.  I've been using virwox for years and have never had the slightest trouble with them.

localbitcoins I found that not all of the people advertising coins for sale are actually still active.  If you're going to do it then look for a trader who has got recent reviews, otherwise you may find that your offer is ignored.