London cashless transactions | Bitcointalksearch.org

squatz1

legendary

Activity: 1666

Merit: 1285

Flying Hellfish is a Commie

Quote from: OmegaStarScream on February 18, 2020, 02:11:46 PM

Quote from: Harlot on February 18, 2020, 01:29:22 PM

From what I know even Bitcoin ATMs in the UK require KYC or else their service will just be limited to the people who are transacting without any KYC. I did a little research about BitAccess ATMs and also they require KYC for their transactions so I think this option isn't really what the OP is looking for.
-snip-

It's being some time since I last used their ATMs, but IIRC the limits were high (~1500 GBP per day).

Also, KYC is pretty easy to avoid here. If you think you're going to exceed the limits, just change the phone number you're using.

For people in the US, the limits are pretty horrid -- I think they're in the realm of 200-500 per ATM. Doesn't stop you from roaming around to tons of different ATM's, but still - pretty big difference between $1500 GBP and $200-500 per machine.

Guess that's what we get for the 'land of the free'

Harlot

hero member

Activity: 1806

Merit: 672

Quote from: OmegaStarScream on February 18, 2020, 02:11:46 PM

Quote from: Harlot on February 18, 2020, 01:29:22 PM

-snip-

It's being some time since I last used their ATMs, but IIRC the limits were high (~1500 GBP per day).

Also, KYC is pretty easy to avoid here. If you think you're going to exceed the limits, just change the phone number you're using.

Well if that is the case the OP can make this the option as long as the rates of Bitcoin ATMs are close to the market value (are they?) he can always make this the most convenient way of cashing out. But what about legal concerns? Is this something the OP need to worry about? Since he mentioned that he recently moved to London so I'm guessing that he has no job and the authorities might question where his money is coming from, he might touch some violations with regards to AML procedures if he did cash out BTC in Bitcoin ATMs regularly.

OmegaStarScream

staff

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Quote from: Harlot on February 18, 2020, 01:29:22 PM

From what I know even Bitcoin ATMs in the UK require KYC or else their service will just be limited to the people who are transacting without any KYC. I did a little research about BitAccess ATMs and also they require KYC for their transactions so I think this option isn't really what the OP is looking for.
-snip-

It's being some time since I last used their ATMs, but IIRC the limits were high (~1500 GBP per day).

Also, KYC is pretty easy to avoid here. If you think you're going to exceed the limits, just change the phone number you're using.

Harlot

hero member

Activity: 1806

Merit: 672

Quote from: OmegaStarScream on February 16, 2020, 01:08:58 AM

1. Use Bitcoin ATMs. There are many in London. The fees are a bit high compared to exchanges but it's a great solution if you're in a hurry. I suggest using BitAccess ATMs, I've used them multiples times in the past, and I had a very good experience.

From what I know even Bitcoin ATMs in the UK require KYC or else their service will just be limited to the people who are transacting without any KYC. I did a little research about BitAccess ATMs and also they require KYC for their transactions so I think this option isn't really what the OP is looking for. Fpr the OP I think the best option for you is to exchange your Bitcoin P2P since this will be the only viable way I see you can exchange your crypto without any additional KYC requirement involved. Now I don't know how you'll be able to get in touch with them in the UK but maybe you can start by asking someone here in the currency exchange section. Also localbitcoins is not an option anymore since they recently became a KYC compliant company.

squatz1

legendary

Activity: 1666

Merit: 1285

Flying Hellfish is a Commie

Quote from: OmegaStarScream on February 16, 2020, 01:08:58 AM

1. Use Bitcoin ATMs. There are many in London. The fees are a bit high compared to exchanges but it's a great solution if you're in a hurry. I suggest using BitAccess ATMs, I've used them multiples times in the past, and I had a very good experience.

2. As suggested above, trade with other individuals. Since LBC stopped supporting the in-person transactions, LocalCryptos is a good alternative.

Quite high is an understatement. Selling fees are going to be in the realm of 3-6 percent.Buying fees are FUCKING ROUGH -- in the realm of 9-15 percent. Pretty rough. I'd just go ahead and mix these coins, and then slowly pull them off some exchange. Cause even if you use these ATMs to get cashback -- you're probably not going to take all the precautions necessary to not alert tax authorities as to you having money. I know it may sound rude, but I'm imagining you getting like 10-15k out of these machines, then depositing into the ATM shortly after -- eliminating any bit of anonymity that provided you.

hugeblack

legendary

Activity: 2646

Merit: 3911

It varies depending on the amount of bitcoin you want to exchange it to cash. If the amount is not large, you can create a topic on currency exchange section with some attractive offers.

Or you can try to find places that accept Bitcoin or even convert it to gift cards and then use them as cards to buy meals and tickets, and others.

If the amount is large, it is better to retail and try several methods such as ATMs, Fourms (with escrow),... etc.

OmegaStarScream

staff

Activity: 3500

Merit: 6152

1. Use Bitcoin ATMs. There are many in London. The fees are a bit high compared to exchanges but it's a great solution if you're in a hurry. I suggest using BitAccess ATMs, I've used them multiples times in the past, and I had a very good experience.

2. As suggested above, trade with other individuals. Since LBC stopped supporting the in-person transactions, LocalCryptos is a good alternative.

TheUltraElite

legendary

Activity: 2898

Merit: 1253

So anyway, I applied as a merit source :)

The best way is to look for an exchange that allows people from UK to deposit and exchange bitcoins for fiat which is I guess Pounds in your case.

This should not be difficult for you but we have some users from UK here already like @welsh and others who might be able to give you a local deal which is a P2P one and does not need signing up on exchange.

Again the second type of deal is more risky and should involve an escrow to keep the money safe from possible scam.

slarsum

member

Activity: 63

Merit: 10

anyone here from london?? i am looking for anyways to cashout without the use of a credit card. any info i can research would be helpful.. tnx..

__from a guy who just transferred to london

Topic: London cashless transactions (Read 193 times)