Anyone here buy/sell crypto for a living UK?

So I’m looking to take a small venture into P2P crypto trading since investments aren’t working out atm. I was looking to purchase BTC from Coinbase pro for 0.25% then list it for sale on P2P platforms like paxful for 6% cash in person. I’ll be looking at 4.75% profit after taking away Paxful fees.

Only problem I have is what if I’m depositing 20kGBP in the bank a month from crypto sales is this aloud? Would I need ID from my customers is there I way to do it properly?

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2 thoughts on “Anyone here buy/sell crypto for a living UK?”

  1. once the bank find out where the money is coming from 99% they will have a problem with it. There’s a reason LBTC banned cash sales and most of the most reputable traders never offered it as an option. Done it before but never deposited back in the bank due to concerns over AML

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  2. I’m not sure about the laws in the UK but this sounds dangerously close to money laundering. Please talk to a financial consultant and a lawyer before you attempt this adventure.

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