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Author Topic: Selling BitCoins = Trouble!?  (Read 1215 times)
underth
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in next technological revolution i will be there


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October 23, 2013, 11:19:16 AM
 #21

Hi everyone

Can anyone tell me what is the best service/way to sell bitcoins for cash?
in what way can i assure that when i send bitcoins i will get the money to my account?

regards
petersiddle98
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October 23, 2013, 11:55:57 AM
 #22

Just do a face to face cash transaction if you're worried.


You might save the tax as well this way  Smiley

But you waste lots of fuel and it might even cost higher then the transaction fees Smiley

msc
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October 23, 2013, 01:11:44 PM
 #23

Coinbase has to be registered as money transmitter in this case, not you.
They are transmitting the money for you.
Yes.  Otherwise, you would have to be registered as an MSB to do any banking at all.

Quote
(1) Currency dealer or exchanger.
(2) Check casher.
(3) Issuer of traveler's checks, money orders or stored value.
(4) Seller or redeemer of traveler's checks, money orders or stored value.
(5) Money transmitter.
(6) U.S. Postal Service.
I believe these all refer to businesses or people providing a service, not a person acting on his or her own behalf. 
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