Buying from another country, selling in a country.

[yankl]

Hi,

I was curious as to whether is it legal/allowed to buy bitcoins (from a friend for example) from another country where the value is less and then sell the bitcoins in the UK, for a profit.

I'm new to bitcoin in general and still a student at University.

If this is legal to do, is there any information, or could you provide information as to how I would go about setting up a Bank Account that would accept large volumes of money going into the account due to bitcoin selling, as well as using that account to purchase bitcoins from abroad. And what are things that I should look out for, any legal issues etc?

Would I have any issues over time if I were to buy bitcoins from another country, and then sell them In the UK for long periods of time, in hope to make a profit.

Appreciate your time and help people.

EDIT: Any UK bitcoin sellers, how has your experience been with, with banks in regard to receiving payments related to bitcoin. Is it under a personal account or a business account? If you could recommend some banks, that would be great.

[BitcoinXio]

Bitcoin is a global currency, there is no country jurisdiction when it comes to trading bitcoins. For example, if you buy bitcoins in the US and then send them to the UK, they are still the same bitcoins (currency).

That is, until later when you go to sell. So you can buy them, again going with my example you buy them in the US and then you just open an account with a UK based bitcoin exchange and sell them on the UK exchange. To the UK exchange, the bitcoin is just bitcoin, it doesn't know the bitcoin is from the US.