Is there anyway of being able to transfer bitcoins to pound sterling to a paypal account at all? I struggle to find any solutions in this area so that I can make regular conversions. Even just to a UK bankaccount is ok, but Paypal is prefered? even if it means getting small fees as one would expect.
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3 Answers
I assume you are asking about how to convert your BTC into GBP.
For small quantity, you can do a direct sales at one of the many bitcoin community forum, such as bitcointalk.org (particularly, the Currency Exchange sub-forum). There is currently an active thread on the forum, where someone is buying large quantity of bitcoin and payment via cash deposit into your UK bank account.
For large quantity, you should check out major exchanges, such as MTGOX, and receive your money via Bank Wire.
Accepting payment via Paypal and other reversible transfer services should be avoided, as the buyer can take your bitcoin and reversed the payment at a later date.
In the end I was able to do this by XMLgold, http://www.xmlgold.eu/, I had to do the payment as Bitcoin to USD (directly to Paypal) and PayPal then offered to convert that to GBP, it cost me $20 of my reward to PayPal, not totally sure if it was truly a great value but it saved juggling some of the money around.
I bought bitcoin on https://bitbargain.co.uk/, not sure what it's like to sell there.
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1Sellers are only accepted if they are dedicated and not just once-offs. Commented Dec 9, 2013 at 15:47