Selling some litecoins in the uk for GBP

litecoin

#1

Hi there everyone.

I am looking to sell some of my litecoins I have been mining. but the whole process of getting cash out is a nightmare.

Going by the exchange rates I have quite a few quid to cash in, but by the time the exchange has took a chunk and then paypal takes a chunk, plus an extra chunk to change euros to GBP, its legalised robbery.

The rate that litecoinpool.org has for litecoin has no resemblance to what I would actually get by the time everyone has taken a chunk for £100 worth I am losing close to 20%

Does anyone in the UK have a recommended exchange method? I know a few people on the bitcoin groups sell direct via paypal for small amounts anyones thought on this?

Marty.


#2

hi,
I haven not started mining yet but my plan is to use a debit card:
https://uquid.com/ltc-debit-card

I will pay bills with this card, shopping, travel, holidays etc. This way you can hold on to your fiat currency and use your crypto for everyday expenses.

Ps: This is a plan I have not implement as I am which waiting for my ASIC miners.


#3

Thanks for that link. I’ll take a look. looks like a good prospect.

I have been mining a while now and just waiting for my new miners to arrive to.

Marty.


#5

Well, I tried UQUID and they are the worst bunch of useless (insert suitable expletive) con artists…

I set up the account, no problem. Set up a virtual card, no problem, Loaded some funds no issue…

I then transferred some more funds to order a plastic card that can be used in the shops…£9.99 its about the same as others charge for pre-paid cards… Then the waiting game began.

It took over 2 weeks for the card to arrive. THe card was not from uqid but from another company. I then set about loading funds onto the card to so some shopping… Thats where the problem began…

I could not load funds onto the card because they were having technical issues and the card services would be online shortly…

this stayed the save for a couple of days.

This is when I contacted customer services… The only way to contact them is through skype. I don’t use skype, so had to download and create an account… not a big deal. Apparently they were having some issues with the card vendor and they said they would have it fixed in a few days. I was not happy so I gave them a couple more days…

The days passed and still nothing, so I contacted them again demanding my money back. every but I had paid them, including the fee for the card.

They offered to sell me back litecoins at the current market price, which had gone up in the time inbetween so effectively would have lost me money. but they refused to refund the fee for the card stating I could still use it, and they gave me a url for the card vendors website where I could load funds onto the card… just not litecoins.

I got a little anoyed and told them I had signed up for a service that they could not provide so wanted my money back. ALL of it. including the fee for the card. It took a threat of a complaint to the FSA before they agreed to refund me to my bank account, including the card fee.

The next day, on the UQUID website, they had a messages to say that the contract they had with the card vendor had expired and they were negotiating with a new vendor, new cards and normal service would resume in approx 2 weeks.

fortunately I had only put about £50 into uquid and got all of it back. but these people are to be avoided.

The process of sending litecoins to a pre-paid card is still appealing, but I will be doing a lot of checking before I go at another one…

Also, something that came up while dealing with these clowns. The card, plastic and virtual do not have the 3dsecure thing going on with them, so many websites will not accept them as a valid card…


#6

how many do you have / want to sell?
I could maybe buy some from you.
PM me if youre intrested.


#7

thanks for the information. I could not get any debit card as the rules changed and the cards can only be issued to those in the EU. We are expecting a contactless card from WireX, they too are in the UK. Also check out TenX its new and sounds good. All the best and thanks for the feedback.