Topic: Active Bitcoin Traders in UK? (Read 665 times)

I do indeed but if you're doing rapid trades then the localbitcoins premium will eat up a ton or all your of profit, even more if you're buying with cash. Sometimes the prices can match exchanges pretty closely but you have to be on your toes as they quite often detach from reality completely. 

It's maybe worth noting that it's usually far quicker to deposit BTC at an exchange, rather than GBP. I tend to buy BTC through localbitcoins.com and then deposit the BTC at an exchange, rather than send GBP.

Exchanges also tend to be much more relaxed about BTC compared to GBP - you can open an account with an email address and a bitcoin address, and not much else. Makes it much easier to make a small test trade on a new exchange when you don't need to provide copies of your passport, NI card, birth certificate and letter from the Queen!

Localbitcoins tends to be fairly competitive - the lowest ask (for national bank transfers/other online payments) right now is around £155, the highest bid is around £149. If you want to pay cash, you can do that - meet the vendor in person (and take the usual precautions for cash deals face-to-face) - but you'll typically pay a good bit more. UK bank transfers these days seem to take a lightening-fast two hours max, so it's a pretty fast way to buy BTC.

Edit: this for the OP - I'm pretty certain gentlemand knows localbitcoins is a thing!

There isn't an exchange with a UK bank account. The banks won't let anyone play. There are UK based exchanges such as Coinfloor but GBP has to be sent to Europe.

That stood the test of time: Proved to be worth of trust, properly managed, liquid at all times with no fraudulent background, safe & secure

not sure there is an exchange yet that meets all those or at least all those consistently - as you will learn bitcoin is "raw" and it will take time for some secondary aspects (eg exchanges) to mature.

before you "invest' learn about
what happened in mt gox (the willy bot and karpeles management),
the okcoin/ver saga ( in particular how they claimed there were not even a company),
exchanges that appear to allow staff to trade,
the effect a relatively small number of coins (bought or sold) can move the market in one exchange alot as most of the millions mined are not in "play"

you might also want to keep an eye out for exchanges that open up inside traditional  regulatory controls eg COIN? ( although that is I think only for US citizens only).

in short be prepared for a wild ride

 

All webs related with win/transfer BTC (except some faucets) are designed to take you some kind of comission for every BTC related movement or directly to send them your BTCs with low/medium/hard/impossible possibility of return.

And more specially: all can close in ANY moment.

Better got your BTCs in your wallet 

Note: Tip everybody who helps you 

Good day, beautiful people!
I would like to ask some questions if I may  Smiley

I'm a UK resident that recently started getting to know the Bitcoin World. Long story- short: The more I learn about it the more passionate I become about making profits out of effectively trading it. Wether it is a geniune passion or just the excitement of a newbie, at this very point I am truly looking forward to getting into Active Bitcoin Trading.
As I want to avoid being sloppy as much as possible, I'd like to kindly ask you to help me out with some answers to clear away the confusion:

What platforms would you recommend for purchasing Bitcoins considering the following aspects:

- Price efficiency ( I have noticed that some Platforms's prices are way up than the Average Price, example: MtGox at some point )
- Time ( a Platform that will allow me to Buy and Short through Wire Transfer with no major delays, in other words: that will allow me to take advantage of Eventual Daily Swings )
- Decent fees ( That will allow me to Deposit and Withdraw in GBP without charging exorbitant Fixed Fees or % )
- That stood the test of time: Proved to be worth of trust, properly managed, liquid at all times with no fraudulent background, safe & secure

I am yet not sure if a platform that meets all of the criteria mentioned above actually exists and is available for UK Residents ( I might be asking for too much ). If there is none to perfectly fit that, what would be the nearest one to it?
Note: I realise that I might be asking silly questions that have probably been answered before and I sincerely apologise for that, I tried for days to find the answer to my questions without managing to obtain a clear, precise answer.
If that is the case and there is already available information on the forum regarding my question, I sincerely apologise for wasting your time
Thank you!
Sincerely, Magee