atans1

Trying to take profit from bitcoin

In Financial competency on 27/12/2017 at 4:19 am

BBC reporter’s experience of converting it into cash

I have been selling some of the Bitcoin I bought 18 months ago, paying about £60.

In theory that is simple enough and indeed I have sold £500 worth for a small fee. But actually getting that cash into my sterling bank account is far from seamless – so far I am a week in to what promises to be a two-week process.

Hardly the frictionless finance that was promised by Bitcoin’s advocates and if the rush to sell gathers pace there is a good chance that the system seizes up completely.

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