Crypto currency mining

[moltuae]

Originally Posted by MikkiJayne

I think I have a Tesco Hudl in a cupboard in the office actually That'd work!

Transferring from Coinbase may be quite useful since my current account won't accept incoming SEPA transfers, but after Coinbase's conversion fees I'm not sure its any better than selling on Bittylicious?

I haven't looked into Coinbase's fees to be honest. Are they that high? Certainly Revolut's fees are minimal and I think exchanging between EUR/GBP is free. As a test, I sent small amounts of GBP and EUR back and forth between Revolut and Coinbase and transferred money to/from my bank account. Probably about 6 transactions in all. Looking at what's left, it seems to have cost me about 15 pence, most of which is probably Coinbase withdrawal fees.

Revolut accepts SEPA both ways but I think, more importantly, even if you could send directly to your bank, it's probably best you don't. Banks (perhaps unsurprisingly) have become a little uncooperative lately when it comes to cryptocurrency trading, with numerous stories of people having their accounts suddenly closed just for transferring funds to/from cryptocurrency exchanges. When you transfer to/from Revolut, the bank just sees it as a regular bank transfer from another bank account that you own.

I've looked into selling on Bittylicious a few times, but never gone much further than that because I'm not planning to sell any of my holdings yet. As far as I could tell, it looks like you need to apply to be a seller and you have to have a certain amount of Bitcoin, etc available for sale at all times, and be ready to respond quickly when you receive a purchase offer. If/when I do sell, I think I'd prefer to be able to choose how much to sell and just exchange it.