BitBargain is a marketplace for bitcoin sales in the United Kingdom that facilitates fast and secure GBP to bitcoin transactions using instant payment methods such as bank transfers, Pingit or Ukash.
Sellers create offers. An offer includes an item (Bitcoin or Litecoin), a payment method (bank transfer, Pingit, Ukash) and some other settings (minimum, maximum amount per transaction, price formula, trust).
No direct communication is established between buyer and seller. The buyer makes a request and the seller has a very short time to accept it (100 seconds currently). The buyer then gets the details necessary to make the payment. After receiving the payment, the seller releases the buyer's coins which are immediately moved to the buyer's BitBargain wallet, ready to be sent to any bitcoin address.
Countdowns, sound alerts and SMS notifications speed up the trade.
BitBargain.co.uk launched on December 26, 2012.