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Author Topic: [ANN] Bitcoin Magnet - buy & sell bitcoin automatically from a UK bank account  (Read 5905 times)

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Offline Bitcoin MagnetTopic starter

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Just launched!

I've made this service after being frustrated by the complexity of buying and selling bitcoins online.

About me:
I first learnt about Bitcoin in 2010 and ever since have been trading them in one way or another. Although a lot has changed in that time, the thing that has remained a constant is the difficulty involved in trading bitcoins. I had lucky escapes with mybitcoin.com, britcoin.co.uk, bitcoinmax.com, mtgox.com and bitparking.com. On the other hand, I've had a great experience with bitstamp.net and cryptsy.com, and would like to provide a trustworthy service that can help people acquire bitcoins on a regular basis with minimal stress. However, going through an exchange and jumping through all the hoops in order to create an account, and then be faced with an automated P2P selling pool, was just not cutting it. The service I have created is a service that should already exist, but doesn't.

There are 2 key features that I wanted to create:

 - The ability to send a regular bank transfer ("standing order") and have it automatically converted to bitcoin and sent to your wallet.
 - The ability to send bitcoin to a unique address, and have it automatically converted to GBP and sent to your bank account.

The conversions are made using the latest Bitstamp price and I charge 5% for this service. A receipt is emailed to you after each transaction.

Current limits:
Minimum transaction: £1 (or equivalent in bitcoin)
Maximum transaction: £20
Maximum transaction volume: £140 per week

Only available to people with a UK bank account.

Please try out the service and let me know what you think.

Thanks,

John


Offline Bitcoin MagnetTopic starter

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  • Joined: Sep 2014
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Here is a quick update:

Limits:
Min £10 per transaction
Max £100 per day

Confirmation email sent within 10 minutes of placing your order (either a bank transfer or a bitcoin deposit) confirming the bitcoin price secured and the amount converted. Actual payment will follow shortly afterwards. This is definitely the quickest way to buy & sell bitcoins in the UK right now!


 

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