My small business has earned around £120 in Bitcoin (25.1 mBTC).
This is held in a wallet in the Electrum app on my Macbook Air.
What’s the best / simplest / lowest cost way to turn this into GBP?
I am quite tech literate but am out of my depth with cryptocurrency.
Easiest - would be to signup with Coinbase (referral link at https://www.coinbase.com/join/516b06afa03c8865ea000073 for free $10 of bitcoin if you buy $100) and then transfer your Bitcoin into it and then out to your Monzo account.
However, Coinbase don’t offer the ‘best’ exchange rates and do have some fees (0.0251 BTC at Coinbase’s current £5009.96/BTC and the £2.99 charge would get you £122.76).
I actually don’t know of any other trustworthy exchanges though.
[added]
Revolut do support cryptocurrencies and 0.0251 BTC at their current price of £4929.920/BTC would get you £123.74 (but their prices seem to be changing by the second: I can’t type fast enough!). So lower exchange rate, but no (obvious) fees.
Maybe best to use this thread
Pro-tip: a few extra steps using Coinbase Pro (formerly GDAX) to exchange crypto for fiat (vice versa) and you’ll be charged a fraction of what the main Coinbase app does.
localbitcoins.com is very good.
Thanks all. I’ve now cashed in the bitcoin via Coinbase.