but with your money, you are going to buy Bitcoin for some else then dude it's quite risky because of the unstable Bitcoin price. 
Topic: Buy bitcoin for someone else? (Read 1239 times)
With his fiat currency then it might worth but with your money, you are going to buy Bitcoin for some else then dude it's quite risky because of the unstable Bitcoin price.
but with your money, you are going to buy Bitcoin for some else then dude it's quite risky because of the unstable Bitcoin price. 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
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
This sounds like money laundering. I don't think he really is your friend and you are looking for a job and you got caught in his post and now he wants to use your account to fulfill his evil plans. I've seen this scenario many times but they use your paypal to withdraw their cash by using yours to transfer their dirty money.
Yes it is possible to do via localbitcoins exchange.
There you can find the traders available for both online and offline purchase options. Can you check your country availablity and how many traders there. In that choose the most trusted trader while you dealing.
Always release the fund only you got the fund to your wallet.
There you can find the traders available for both online and offline purchase options. Can you check your country availablity and how many traders there. In that choose the most trusted trader while you dealing.
Always release the fund only you got the fund to your wallet.
I do not see anything wrong in doing that and this means it is legal. Legal in the sense that money been exchange for fiant and can be used for the any purpose either trading bitcoin as stated or other coin for the purpose of investment and probably profit derive.
Frankly speaking, I also consider the idea of introducing the crypto market industry to your friend to be a much better variant in this case.
Right. If I have a friend who are not that knowledgeable about bitcoin, it is better to introduce him and tell him any positive things or how does btc works like trading, investing, etc. It isn't hard to give him useful informations about bitcoin. The more he knows, the more he is being dependent and will not waste your time using your account by buying btc.
If you really care about your friend better to tell him everything, and teach them how to play in the market. I’m not saying that you idea is illegal, its legal as long as you are committed but again teaching him about cryptocurrency is the best thing that you can do, let him enjoy the cryptomarket.
Its much better, he won't ask for your help at another time after you tell him about anything, how to buy, about the bitcoin market, and so on. tell him everything, and he will buy it himself, its much better I think
i'd be worried about being hit with the tax bill for buying 1000 dollars of bitcoin... then again, maybe i'm just a bit paranoid.
also, could be trying to wash some possibly dirty money without realizing bitcoin is heavily taxed.
also, could be trying to wash some possibly dirty money without realizing bitcoin is heavily taxed.
In my opinion the need to provide understanding, it is better for him to first understand bitcoin, and how to handle it. But if he is in a hurry to document everything. It would also be better to pay all the legal taxes needed. But what is certain is to understand everything to do right.
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
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
if in my opinion, it would be nice if you taught your friends about how to create an online account, how to invest it and also how to sell it, and more, if one day your friend is proficient, you can exchange ideas with your friends.
It's legal, it's no different than purchasing an item/product for someone using their money because they can't purchase it directly.
As many have said though, document it, everything (including convos with your friend if you have them)
There is nothing strange about buying bitcoin for someone else, because bitcoin is digital money consisting of complicated code, so nobody knows who owns bitcoin.As many have said though, document it, everything (including convos with your friend if you have them)
Buying bitcoin is then transferred to the destination wallet address, after that it belongs to the wallet owner. This is as easy as moving cash into a friend's wallet.
It's Legal in my opinion but buy from a certified exchange and make sure you document and carry out your Know your customer verification.
Bitcoin is legal in your country means then there is no doubt you can buy bitcoin for someone else. For that you have to choose the good and trusted exchange. In that you can replace your Fiat and buy Bitcoin. For that you have to pay some transaction fees it varies from one exchange to other. But your friend knows little knowledge about bitcoin then only he can use it future.
Just make that friend you are talking about is close personal friend and not the type you met online because he might be trying to use you to launder money and buy crypto. If he has no knowledge then teach him and not let you do the job and he won't succeed in trading or investing in cryptocurrencies if only rely on other people.
Even if you are not a friend as long as you can trust him in meeting personally I think the transaction that might be made by them are safe.Buying bitcoin with someone else is not risky if you meet in personally but if you are going to communicate online much better to use a third person/middleman as an act to escrow the fund between the buyer and the seller.
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
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
Just make that friend you are talking about is close personal friend and not the type you met online because he might be trying to use you to launder money and buy crypto. If he has no knowledge then teach him and not let you do the job and he won't succeed in trading or investing in cryptocurrencies if only rely on other people.
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
Better tell your friend to study and learn cryptocurrency specially blockchain before investing that 1000 euros since this market is volatile and risky,though i am pretty Sure that he will be safe in bitcoin investments,still he needs to be knowledgeable about how this goes and whats the ins and outs of crypto tradings 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
legal and does not depend on where you are. I think if you're still struggling with crypto, I'm sure you are in a country that doesn't ban Bitcoin.
and you don't need to worry about your friend, you have to start guiding him how to invest in Bitcoin.
I am sure if your friend is serious about studying, he will quickly understand Bitcoin investment.
and you don't need to worry about your friend, you have to start guiding him how to invest in Bitcoin.
I am sure if your friend is serious about studying, he will quickly understand Bitcoin investment.
as long as the money earned by your friend is legitimate and if you keep a proper record of all transactions it should be safe but as I see the earlier posts I feel that it is always safe to make him do it by himself.
It seems that if the purpose for good does not hurt, I agree with you at least need to also know that the money to be spent giving friends is indeed proven legitimate and not from actions that violate the rules
If you really care about your friend better to tell him everything, and teach them how to play in the market. I’m not saying that you idea is illegal, its legal as long as you are committed but again teaching him about cryptocurrency is the best thing that you can do, let him enjoy the cryptomarket.
giving an understanding of crypto is more useful than we buy for others, because an understanding and knowledge is more useful in the future, with a good understanding can make someone able to buy and sell independently.what if his friend already knows how to use cryptos but he is busy to take care of his investments that why he ask his friends to pilot his account .
if thats the case then theres no need to teach them about the basics of understanding the cryptos instead we will only buy for them because we are his friend . that happend to me once because my friend ask me if i can lend him some cash to buy btc .
what i do is i buy him a btc directly using his own wallet and voila , he have now a btc on his balance .
just dont buy btc if you dont know the person because they might scam you .
as long as the money earned by your friend is legitimate and if you keep a proper record of all transactions it should be safe but as I see the earlier posts I feel that it is always safe to make him do it by himself.
It seems that if the purpose for good does not hurt, I agree with you at least need to also know that the money to be spent giving friends is indeed proven legitimate and not from actions that violate the rules
It's legal, it's no different than purchasing an item/product for someone using their money because they can't purchase it directly.
As many have said though, document it, everything (including convos with your friend if you have them)
As many have said though, document it, everything (including convos with your friend if you have them)
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