Trade BTC for GBP
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The process for our first trade:
For our first trade only, and to prevent fraud, I will require a photo of you holding your ID (Passport or Drivers License) and a small note with the following statement on it:- "I (username) am buying £XX.XX of BTC on DD/MM/YYYY.".
Please make sure the image is clear and readable and that your whole face is visible.
You can attach the image to the chat. I will only ever need to use it in the event of a fraudulent charge back. The website delete all chat messages after 180 days though I may retain chat transcripts and file attachments after 180 days so that I don't need to ask for ID again. If you'd prefer me not to do that then just let me know and I won't take a copy.
After you've sent that image I will provide payment details. Please make sure you're paying with a bank account in the name you provided. I will return funds from anybody elses account and the trade will have to be cancelled.
Your BTC will be released as soon as I have received the payment which should be instant. Though banks state that it can take up to 2 hours. Please be patient if this is the case and remember, your BTC will be sitting in escrow and will be completely safe.
How Escrow works
Escrow is a great system that protects both buyer and seller. Think of it as a holding ground between you and me that holds the BTC.
As soon as a trade is started the BTC is taken from me (the seller) and placed into escrow. When you (the buyer) have sent payment and I confirm receipt of it, I can release the BTC to you immediately.
In the unfortunate event where there is a dispute, then as long as you can prove you have paid the correct amount, to the correct bank account, the website staff can release the BTC to you.
Likewise if a buyer fails to make payment after a certain amount of time, the BTC can be released back to me, the seller.