Oh the pain! – Just as I thought we had a card that was still working.. it stopped.
So I ordered breakfast, went to pay and despite there being money in my Skrill account my card stopped working, Skrill support simply shrugged their shoulders and told me that it just didn’t work with Bitcoin deposits.
The Good News
Skrill Bank transfers to UK accounts are very fast. They quote 2 to 5 business days but my withdrawal turned up this morning (one was placed at about 7am!). So SKRILL is still a good option for UK Bitcoin holders who want to buy something lovely!
Sadly the debit card for the UK Bitcoin owner is fast getting to be a thing of the past.
But why?
Well I hate to be the conspiracy theorist but I think this is mainly due to credit/debit card companies seeing Bitcoin as competition and also there are so many scams as it’s unregulated that they are regularly having to refund people and taking a loss (in the UK you can request a refund if you realise that the “DOUBLE MY MONEY” site is a scam). Also, governments want to keep track of our money so they can squeeze every last tax penny out (whilst ignoring huge corporates who dodge tax like a child playing dodgeball with a friend).
How can we avoid all this?
Simple, we need to use Crypto for doing transactions between each other rather than transferring it to fiat.
Pity, as I was hoping to make use of this facility.
o, what os the best way to convert my BTC to cash?
Hi Stephen the good news is SKRILL is VERY fast getting out to a UK Bank account . If I withdraw in the morning it’s in my account by the afternoon! 🙂
Thanks – so can I convert BTC to GBP on the Skrill site, and then withdraw?
Yes
BUT you must do it from the BITPAY wallet don’t use a normal Bitcoin wallet. When you copy from the SKRILL website to send, it will paste into the Bitpay wallet and set all the amounts for you.
When you get the coin into SKRILL just withdraw it to your bank. Job done
IT’s taking me a few hours to get money out of BTC if I need it 🙂
Thanks you – will give it a try.
No problems 🙂