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Exchanging bitcoin to Fiat and back.

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FrogWithCancer

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Posts: 14

Hi All

I'm have a strong interest in bitcoin and crypto currencies in general. I've played with the idea of putting more money into it. At the moment I'm only putting money in i'm willing to lose. The only thing which is stopping me putting more money in is the difficulties in exchanging fiet to crypto.

I'm from the UK and there are not many places where you can do it easily that i know of. I mainly use LocalBitcoins to exchange but have never sold any bitcoin yet.

At the moment i'm buying and giving to friends as a paper wallet.

Anyone got any suggestions on services out there which are easier to use than localbitcoins.

Posted on July 8, 2014 at 9:33 AM

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• CrimsonRoze

  

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  Location: Göteborg, Sweden

  I can strongly recommend using the local trader function in the Mycelium android wallet. It works wonderfully!

  Posted on July 8, 2014 at 10:10 AM
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• dirtyboots702

  

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  Location: SLC

  Agreed. Ive used Local Trader and it's great. The 99% verification took less than 30 seconds and it was 100% within 10 minutes I think. The great part was the seller and I conversed for about a half hour about BTC and a bunch of related subjects. He had a lot of questions about counterwallet and asset creation which I know some about, at least enought to get him to investigate further. I plan on using this again soon. One of the great things is the fixed rate option in the app. Generally in a competetive region, you can get BTC at 5% over Coinbase's rate which isn't bad for a cash transaction

  Posted on July 8, 2014 at 12:09 PM
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• TNT3

  

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  @crimsonroze I can strongly recommend using the local trader function in the Mycelium android wallet. It works wonderfully!

  I have not used Mycelium wallet. Can you explain what this local trader function does? Finds local sellers/buyers?

  Posted on July 8, 2014 at 6:06 PM
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• CrimsonRoze

  

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  Location: Göteborg, Sweden

  @TNT3

  The local trader function in mycelium is an open trading book in which you can list buy and sell orders. It does not match orders, instead it stores geolocation information on orders and you can start an encryped chat with the other party and reach an agreement on when and where you would like to meet to complete the order. It has a rating system and at least where I live it is the easiest way to obtain bitcoin.

  I encourage you to read more about it, it's very well made.

  Posted on July 8, 2014 at 10:27 PM
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• popinjay

  

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  That's great to see the Mycelium trading platform is working. I was looking at it when it first came out and there wasn't much in my area as far as traders. Maybe it's worth it to take another look and see if the market has grown

  Posted on July 9, 2014 at 7:08 AM
  Last Edited: July 9, 2014 at 7:08 AM
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• Mark0

  

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  Posts: 6
  Location: Venezia, Italy

  An alternative may be PurseIO. You can get bitcoins basically buying Amazon's wishlists for other users (who in turn wants to spend bitcoins). They get a discount on their prices, and the buyers pay a premium. This percentage may vary a lot, but you could easily browse the available offers and choose one with a reasonable markup and within your desired budget. I don't have fist hand experience as a buyer, but I have used it a couple of time to spend bitcoins and it worked pretty well.

  Mycelium Local Trader can be definitely faster if you have traders in the vicinity.

  Posted on July 11, 2014 at 11:28 AM
  Last Edited: July 12, 2014 at 10:28 AM
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• joey.lucia

  

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  Location: Melbourne, Australia

  I too would recommend Mycelium, it's easy to use, works really fast and you can use for day to day transactions too.

  Posted on July 11, 2014 at 10:47 PM
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• FrogWithCancer

  

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  @crimsonroze I can strongly recommend using the local trader function in the Mycelium android wallet. It works wonderfully! Thank you, i'm downloading this now.

  Posted on August 1, 2014 at 2:07 PM
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• FrogWithCancer

  

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  Thank you all for the good posts. My apologies for starting this and abandoning it. My life at work has been crazy and i've literally been work, eat, sleep and repeat.

  I've not got the forum setup on my ipad so hopefully i'll be a little more active. My new toy is to play with Mycelium. I'm guessing it's only on android at th moment. Good job i have a nexus.

  Posted on August 1, 2014 at 2:11 PM
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• Centrin

  

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  Yes, the absolute best way to exchange fiat and btc is to do a peer-to-peer transaction and just trade it with a friend without the hassle of exchange fees.

  Posted on August 1, 2014 at 8:34 PM
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