Hi, Can some one advise
My friend wanted to invest in bitcoins He wanted to give me say £1000 from his bank and gave it to me in cash, If I was to say put the cash into my bank and set up buying bitcoins from my online account would this be legal? , He has no knowledge on how to buy or trade them..
Thank you
Yes, you can do this but pay all taxes. Here is how you can buy:
Go to the exchange of your choice, and browse to see their buy section. Select the amount of bitcoin you like to purchase. You will find the recent high price of bitcoin in every exchange and you could easily buy less than one bitcoin on these exchanges. You can divide bitcoin up to eight decimal places. This denotes one can buy 0.11 bitcoin, 0.001 bitcoin or even 0.00000001 bitcoin, the one that suits your budget. Now depending on the kind of exchange you have performed you can purchase bitcoin using a credit card, bank transfer or through cash.