Looks worse still as they have now closed shop.
Still nothing lost as far as I'm aware.
Sad to see an exchange fail, good to see it fail gracefully without loss of trust or coin.
Bet THAT won't make the news.
Topic: Announcing a new bitcoin exchange with UK banking - www.bit121.co.uk (Read 6699 times)
March 29, 2014, 12:30:03 PM
March 02, 2014, 02:50:25 PM
Quote from: bit121
Update from bit121
It is with regret that our bank has indicated that they are no longer willing to accept sterling deposits. We are seeking new banking arrangements and hope to be able to accept sterling deposits again, once agreements are in place. We wish to reassure bit121 users that all sterling currency and bitcoins are safe and can be withdrawn at any time. At this time, our customers are still able to make sterling withdrawals, deposit and withdraw bitcoins and continue trading.
It is with regret that our bank has indicated that they are no longer willing to accept sterling deposits. We are seeking new banking arrangements and hope to be able to accept sterling deposits again, once agreements are in place. We wish to reassure bit121 users that all sterling currency and bitcoins are safe and can be withdrawn at any time. At this time, our customers are still able to make sterling withdrawals, deposit and withdraw bitcoins and continue trading.
Oh No
Banks in the uk really hitting hard.
March 02, 2014, 02:22:50 PM
Quote from: bit121
Update from bit121
It is with regret that our bank has indicated that they are no longer willing to accept sterling deposits. We are seeking new banking arrangements and hope to be able to accept sterling deposits again, once agreements are in place. We wish to reassure bit121 users that all sterling currency and bitcoins are safe and can be withdrawn at any time. At this time, our customers are still able to make sterling withdrawals, deposit and withdraw bitcoins and continue trading.
It is with regret that our bank has indicated that they are no longer willing to accept sterling deposits. We are seeking new banking arrangements and hope to be able to accept sterling deposits again, once agreements are in place. We wish to reassure bit121 users that all sterling currency and bitcoins are safe and can be withdrawn at any time. At this time, our customers are still able to make sterling withdrawals, deposit and withdraw bitcoins and continue trading.
Oh No
February 21, 2014, 09:17:15 PM
I can see an orderbook when I log in now. Its a bit spares though 
February 21, 2014, 07:51:44 PM
From Jim Iddiols (CEO - bit121)
Please excuse my delay in getting back to you all. There is a lot of nervousness in the Bitcoin market and that is understandable and we need to do more to give confidence to our users. I will get more information to you through this thread and you are welcome to contact me at [email protected].
Let me try and tackle your points one by one.
1. Firstly the order book has been requested many times and you are right that our order book was not strong to start with. This is understandable with a new exchange. It is now much stronger and we hope you will add to it. Because of the requests, we plan to put this in the next release. This is scheduled for the end of February. ....
Please excuse my delay in getting back to you all. There is a lot of nervousness in the Bitcoin market and that is understandable and we need to do more to give confidence to our users. I will get more information to you through this thread and you are welcome to contact me at [email protected].
Let me try and tackle your points one by one.
1. Firstly the order book has been requested many times and you are right that our order book was not strong to start with. This is understandable with a new exchange. It is now much stronger and we hope you will add to it. Because of the requests, we plan to put this in the next release. This is scheduled for the end of February. ....
Any news on this? An orderbook visible to everyone will attract volume and help make a success of the exchange.
February 02, 2014, 05:13:42 AM
Please see this definitive warning about www.bitcoinexchangeltd.com from the Administrator of Bitcoinukforum. They are a scam. BUT NOT AFFILIATED OR ASSOCIATED with Bitcoin Exchange Ltd in any way. http://bitcoinukforum.com/index.php?PHPSESSID=e5ecc8f8a8b5d4fe5b74b3a15b52310a&topic=86.msg100#msg100
January 29, 2014, 11:30:48 AM
One more for he ignore button I think.
January 29, 2014, 09:26:58 AM
True, thats my opinion but lets see how many people using btc-e and how many 123bit.whatever?
BTC-E has been in operation since 2011 and bit121 has been open for about two months. Is that a supposed to be a big surprise? I think you should do as you said you would do last time and stop posting on this thread.
Btc-e done more on this forum to promote than 123456bit.whatever. maybe because they legit. OP on this thread doing fu$%k all. He doing this because he knows if people would take this "exchange" for spin- and trust me there is couple of guys here acting like bitcoin scam police. They would be exposed quick.
Btc-e done for promotions more than this whatever you calling exchange.
If this is exchange for everyone, there should be no limitaion-minimum etc. Because not only there is minimum for trades, there are charges for such basic stuff like deposits and withdraw, so yeah dosnt look shady.
It looks like exchange for elite with 20k in pocket.
January 29, 2014, 09:19:38 AM
True, thats my opinion but lets see how many people using btc-e and how many 123bit.whatever?
BTC-E has been in operation since 2011 and bit121 has been open for about two months. Is that a supposed to be a big surprise? I think you should do as you said you would do last time and stop posting on this thread.
January 29, 2014, 05:18:48 AM
No evidence of a scam at bit121 from where I'm sitting.
I tested the site early Jan and transferred ~ £750 out to my UK bank
Flawless next day deposit - I prefer a flat rate to a % for the volumes I'd likely be trading out anyway.
I'll still complain about the £10 though
Before I traded there I had some issues with TFA which support was quick to reply and offer assistance on. Turned out it was my laptop anyway.
There is much to be done with improving the site -
Bit121 sent out an user input email couple of weeks back asking for suggestions / improvements to raise trade volumes.
I'm sure they got hit with a loud and clear message regards order book and associated data. Anyone else get that one ?
Some things seem to be being implemented as now there is an order book of sorts.
Communication with the community seems a bit lax as I wasn't aware of any updates being done to the site until I looked.
Anyway I'd use them again, other options all take longer and cost benefit is debatable as far as I can tell.
I tested the site early Jan and transferred ~ £750 out to my UK bank
Flawless next day deposit - I prefer a flat rate to a % for the volumes I'd likely be trading out anyway.
I'll still complain about the £10 though
Before I traded there I had some issues with TFA which support was quick to reply and offer assistance on. Turned out it was my laptop anyway.
There is much to be done with improving the site -
Bit121 sent out an user input email couple of weeks back asking for suggestions / improvements to raise trade volumes.
I'm sure they got hit with a loud and clear message regards order book and associated data. Anyone else get that one ?
Some things seem to be being implemented as now there is an order book of sorts.
Communication with the community seems a bit lax as I wasn't aware of any updates being done to the site until I looked.
Anyway I'd use them again, other options all take longer and cost benefit is debatable as far as I can tell.
So you saying that bit12345.whatever is cost effective? Really? I dont see the point paying extra 10+10 just for benefit buying in gbp. I can easily buy btc or other coins using gbp, usd or any other fiat.
You might be right, I don't need to pay £10 to get in as I mine, trade / hold; I exit crypto for costs only so no need to bring fiat into the exchange for me.
From my point of view the trading fees are in line with others, exit to GBP is faster, and when dealing with amounts over my experimental £750 it's cheaper cheaper in fees.
If I was a small investor I'd be put off by the £10 deposit and the BTC 0.1 trade minimum so they should review those if the plan is for a vibrant GBP exchange.
I've been mining for some time and my biggest issue is getting a near instant ~3-£5k volume exit at a sensible price / hassle factor.
The landscape is changing fast but in mid Dec 2013 this put a smile on my face.
If they take on customer suggestions and volumes rise Bit121 would be ideal for me if past experience proves the norm.
January 28, 2014, 02:45:00 PM
No evidence of a scam at bit121 from where I'm sitting.
I tested the site early Jan and transferred ~ £750 out to my UK bank
Flawless next day deposit - I prefer a flat rate to a % for the volumes I'd likely be trading out anyway.
I'll still complain about the £10 though
Before I traded there I had some issues with TFA which support was quick to reply and offer assistance on. Turned out it was my laptop anyway.
There is much to be done with improving the site -
Bit121 sent out an user input email couple of weeks back asking for suggestions / improvements to raise trade volumes.
I'm sure they got hit with a loud and clear message regards order book and associated data. Anyone else get that one ?
Some things seem to be being implemented as now there is an order book of sorts.
Communication with the community seems a bit lax as I wasn't aware of any updates being done to the site until I looked.
Anyway I'd use them again, other options all take longer and cost benefit is debatable as far as I can tell.
I tested the site early Jan and transferred ~ £750 out to my UK bank
Flawless next day deposit - I prefer a flat rate to a % for the volumes I'd likely be trading out anyway.
I'll still complain about the £10 though
Before I traded there I had some issues with TFA which support was quick to reply and offer assistance on. Turned out it was my laptop anyway.
There is much to be done with improving the site -
Bit121 sent out an user input email couple of weeks back asking for suggestions / improvements to raise trade volumes.
I'm sure they got hit with a loud and clear message regards order book and associated data. Anyone else get that one ?
Some things seem to be being implemented as now there is an order book of sorts.
Communication with the community seems a bit lax as I wasn't aware of any updates being done to the site until I looked.
Anyway I'd use them again, other options all take longer and cost benefit is debatable as far as I can tell.
So you saying that bit12345.whatever is cost effective? Really? I dont see the point paying extra 10+10 just for benefit buying in gbp. I can easily buy btc or other coins using gbp, usd or any other fiat.
January 28, 2014, 02:42:17 PM
I will stay with BTC-e which is much better(look,usability etc) than school project called 121-whatever.
I think BTC-e looks like crap. So, your opinion isn't in very high regard with me.
If market graph and order book is for you something which is not needed in exchange i can see you are no more than just kid in front pc. Again this is my opinion...
January 28, 2014, 12:22:59 PM
No evidence of a scam at bit121 from where I'm sitting.
I tested the site early Jan and transferred ~ £750 out to my UK bank
Flawless next day deposit - I prefer a flat rate to a % for the volumes I'd likely be trading out anyway.
I'll still complain about the £10 though
Before I traded there I had some issues with TFA which support was quick to reply and offer assistance on. Turned out it was my laptop anyway.
There is much to be done with improving the site -
Bit121 sent out an user input email couple of weeks back asking for suggestions / improvements to raise trade volumes.
I'm sure they got hit with a loud and clear message regards order book and associated data. Anyone else get that one ?
Some things seem to be being implemented as now there is an order book of sorts.
Communication with the community seems a bit lax as I wasn't aware of any updates being done to the site until I looked.
Anyway I'd use them again, other options all take longer and cost benefit is debatable as far as I can tell.
I tested the site early Jan and transferred ~ £750 out to my UK bank
Flawless next day deposit - I prefer a flat rate to a % for the volumes I'd likely be trading out anyway.
I'll still complain about the £10 though
Before I traded there I had some issues with TFA which support was quick to reply and offer assistance on. Turned out it was my laptop anyway.
There is much to be done with improving the site -
Bit121 sent out an user input email couple of weeks back asking for suggestions / improvements to raise trade volumes.
I'm sure they got hit with a loud and clear message regards order book and associated data. Anyone else get that one ?
Some things seem to be being implemented as now there is an order book of sorts.
Communication with the community seems a bit lax as I wasn't aware of any updates being done to the site until I looked.
Anyway I'd use them again, other options all take longer and cost benefit is debatable as far as I can tell.
January 28, 2014, 10:18:16 AM
I will stay with BTC-e which is much better(look,usability etc) than school project called 121-whatever.
I think BTC-e looks like crap. So, your opinion isn't in very high regard with me.
January 27, 2014, 07:30:20 PM
I will stay safe and will make sure people are aware that this is nothing more than just shady way of making money.
You've already admitted that you've never done business with them. Therefore you have no idea if it's a scam or not.
As all transfers between uk accounts are free how you can justify charge of 10gbp for transfer in and 10gbp for out?
If it's a scam then why are you complaining about the fees?
EDIT: I just got an email from bit121 so either you're lying or confused. I suggest you check your facts.
Ohh, yeah. im lying. If you read instead posting crap without reading you would see why i mention about email, and funny way of contacting them.
You right, i have to send money to see if its scam or not. That does make sense.
i would complain if i had to pay the fees. but because i stay away from this so called exchange writing about fees and pointing that only idiot will pay for something which is free is my point of view and more than one(me) mention this in this thread.
As i said, obviously your balls are bigger than brain so go ahead and make few trades.
I will stay with BTC-e which is much better(look,usability etc) than school project called 121-whatever.
I will not answer any more to bump this crappy thread higher and to give free advertisement to 234bit.im.a.scam so dont bother explain me how legit they are.
January 27, 2014, 07:28:17 AM
I will stay safe and will make sure people are aware that this is nothing more than just shady way of making money.
You've already admitted that you've never done business with them. Therefore you have no idea if it's a scam or not.
As all transfers between uk accounts are free how you can justify charge of 10gbp for transfer in and 10gbp for out?
If it's a scam then why are you complaining about the fees?
EDIT: I just got an email from bit121 so either you're lying or confused. I suggest you check your facts.
January 26, 2014, 02:03:22 PM
Registration plus attempt of contact is enough to say "Yes i tried them".
One would think that you need to actually trade bitcoins to say that you "tried" an exchange.
If you have big balls enough, send them some money. I want to see your face when in return you will big NOTHING.
I will stay safe and will make sure people are aware that this is nothing more than just shady way of making money.
Besides, ceo newer reply about money transfers and cash deposits. As all transfers between uk accounts are free how you can justify charge of 10gbp for transfer in and 10gbp for out?
If you so sure about them please use them, and dont try to change the way i think about them and how this looks to me.
Fact is:
contact by email, saulty fees for deposits and withdraw, crap looking school project, abandoned thread and silly billy answers at the beggining of this post from CEO just shows how crappy scam this is.
January 26, 2014, 12:11:07 PM
Registration plus attempt of contact is enough to say "Yes i tried them".
One would think that you need to actually trade bitcoins to say that you "tried" an exchange.
January 26, 2014, 11:42:17 AM
the website works !!!
Have you tried it yourself ?
Have you tried it yourself ?
If you look at the beggining i did register myself, i did have little walk about on their school project and thats it. im not that stupid to transfer any money to someone whos only contact was email address and it was wrong at the beginning.
So, in other words, no you haven't tried it.
So what u think trying is? Sending them btc? Sending them money?
Registration plus attempt of contact is enough to say "Yes i tried them".
I wouldn't use them even if they would have private details posted on website.
For some reason there is no info about this exchange. Complete oposite of Btc-e or gox.
Now when Okpay allowing uk gbp to use for BTC this project is not needed any more.
January 26, 2014, 11:33:45 AM
the website works !!!
Have you tried it yourself ?
Have you tried it yourself ?
If you look at the beggining i did register myself, i did have little walk about on their school project and thats it. im not that stupid to transfer any money to someone whos only contact was email address and it was wrong at the beginning.
So, in other words, no you haven't tried it.
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