Bitcoins

nickyhedge

My husband recently passed away and has a number of bitcoins does anyone know how I can exchange them safely for cash?

JohnRo

I haven't yet sold any myself, however this page contains detailed information.

http://www.coindesk.com/information/sell-bitcoin/

Just be sure you understand what's happening before you execute.

SailorSam

This is a long previous thread all about Bitcoins.
You may find some useful information on that.

http://forums.moneysavingexpert.com/showthread.php?t=4513615&highlight=bitcoins

esuhl

Be aware that there are lots of scams involving Bitcoin. So absolutely double and triple-check who you're cashing in the coins with. It's easy for Bitcoin exchanges to hide their activities and even previously reliable ones have just run off with people's money.

Plus

Do you actually have access to the bitcoins? Bitcoins are just data on a computer. In other words, do you know where they are stored (USB stick, on a PC, mobile app, in the cloud) and have all the necessary passwords/etc to get them? It's not enough to have bitcoins in a 'wallet' if you don't have means of opening the wallet.

jsinc

Subject to how much you understand about bitcoins and how many there are, localbitcoins is simple enough via online transfers with escrow (I've used it). Don't meet up to exchange in person, or get involved in any private 'deals'.

I'd recommend asking close family & friends for help from someone more familiar, but here's a link to uk exchanges: http://www.coindesk.com/information/buy-bitcoin-uk/

markj113

https://localbitcoins.com/

nickyhedge

Yes, I do have access to everything which is why I would like to sell them for cash.

Bajjo

Sorry for your loss.

I'm biased but they're worth holding on to, personally I'd give it 6 months then think about selling.

If you really want to sell LocalBitcoins is your best option. They work as a third party escrow to lessen the risk of being scammed (still possible, so be careful and trade with reputable vendors only).

LocalBitcoins have lowered their fees to 0.5% for September so it's a good time to sell in that sense.