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Author Topic: Is it legal to sell bitcoin for cash ?  (Read 10147 times)
SamsungBitcoin
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January 18, 2018, 03:26:12 AM
 #241

Bitcoin to cash is legal and safe to do, but there are some country already declared that bitcoin is banned in their country that is why in those country converting bitcoin to cash is illegal because they already have regulation for that. I am happy that here in my country they start to study how to accept or support bitcoin because based on the survey many people here in my country make their life to be better by the help of crypto currency.
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January 18, 2018, 04:19:41 PM
 #242

yes it is legal because bitcoin has its own value and we know that it is so expensive, in the cyber world there are many seller of bitcoin who sell bitcoin for cash and for they to get a high amount of profit.
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January 18, 2018, 04:45:27 PM
 #243

Did you sold those bitcoins that you are asking OP by the time you made this thread? It's already several months has passed and I want to know if you did it already.

Because if you are skeptic from that time and you just keep it until now then you have some nice profits or even since before the end of 2017.

Prices are comparable better way back then and when it comes to legality as long as there's no declaration about nationwide ban about selling bitcoins in your country you are fine.

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January 19, 2018, 06:04:39 AM
 #244

Can anyone point / quote to documentation for regulations / amounts in the US?

Was trying to look for it but cannot find anything conclusive.
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January 19, 2018, 07:14:48 PM
 #245

What is the status on the legality of bitcoin and crytpocurrency in your country? In my country, it is perfectly fine to do so. A local exchange wallet allows us bitcoin users to easily have our bitcoins exchanged into our local currency, and we may retrieve this through remittances or have it transferred directly to our bank accounts. I don't see anything wrong with selling your bitcoins for cash, unless the mere possession of bitcoin is considered to be illegal in your country.

In our country bitcoin is still illegal but the bitcoin sale wallet is very real no doubt
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January 19, 2018, 10:36:33 PM
 #246

It's legal it depends on the country where you belong, but for my home town its very legal. Well if you going to look bitcoin is back up by fiat currency and fiat currency is good for storing bitcoin as well.

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January 20, 2018, 05:53:47 AM
 #247

I was thinking of selling my bitcoins for cash. Is it perfectly legal to do so ? Amount is close to 3-4K.

Thanks for reading.

Every country has their own set of laws to follow and if one particularly country restricted their citizens in buying and selling any cryptocurrency then it is illegal for them to buy or sell bitcoin. You could easily find out if bitcoin is legal in your country by google search if not by news coming from your tv stations or newspapers. In my country, there is still no law legalizing the use of any cryptocurrency but we still are free to buy, sell and trade bitcoin at any amount. Our local crypto exchanges are already subject to regulations by our country's central banks.

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paulo29
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January 20, 2018, 02:42:50 PM
 #248

Converting Bitcoin to cash is a normal things to do and its legal, if it prohibit to do so, I think people will be thinking twice to be part of the Bitcoin community. In my country, we can easily do that within minutes and the money can be withdrawn in an ATM machine.

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January 20, 2018, 02:57:52 PM
 #249

converting bitcoin to cash is legal since it is normal in cryptocurrency groups, if it prohibit to do so then i think people will not be interested in this actions, however, if your country prohibit this action then, i would say that is not legal to sell bitcoin to cash.
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February 08, 2018, 10:44:11 AM
 #250

yes, if their country allows and legalize bitcoin transactions.
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February 08, 2018, 06:18:16 PM
 #251

yeah obviously its legal to sell your bitcoin for cash.
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February 09, 2018, 01:37:02 PM
 #252

in indonesia, my friends just selling his bitcoin. i think its legal
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February 09, 2018, 01:43:34 PM
 #253

This is obvious, when you invest in a market you need to invest money and when it is profitable you need to withdraw it. And the bitcoin market buying and selling is normal. You buy bitcoin with your money and when you need money, you can sell it. I think it's legal.

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February 19, 2018, 10:33:19 PM
 #254

Ofcourse, you can sell bitcoin for cash. As long as your country is not prohibiting you in selling it. Or there is no law in your country that making bitcoin illegal.

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February 20, 2018, 02:19:12 AM
 #255

The major problem today we are facing is converting Bitcoin to cash. As per my knowledge if you pay taxes on converting Bitcoin to cash, government will not ask any question about it.

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February 20, 2018, 04:20:44 AM
 #256

Yes it is legal as long your country is not banning cryptocurrency and  it is  good to have direct exchanger bitcoin to cash instantly.

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February 20, 2018, 04:36:11 AM
 #257

Elsewhere around the world, Bitcoin's legality is seen as different, but most remain relatively safe to use provided it is not related to purchases or forbidden activities.

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February 20, 2018, 06:37:34 AM
 #258

If there is an exchange where they are converting bitcoins into your local currency then there are no problems for you because governments will intimate you before banning the cryptocurrencies.
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February 20, 2018, 07:53:44 AM
 #259

Elsewhere around the world, Bitcoin's legality is seen as different, but most remain relatively safe to use provided it is not related to purchases or forbidden activities.

although it is safe, the government still give a warning for the people when the people still want to invest their money in bitcoin and the government gives a statement that selling bitcoin for cash is not allowed. but I don't think this will stop people to sell their bitcoin for cash and I think soon the government will realize that they make a wrong statement to prohibited for using bitcoin and they will allow bitcoin to be used by their people.

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February 23, 2018, 02:45:57 PM
 #260

In my opinion it is legal because there is nothing script that prohibits the selling of actual bitcoin. I think this is also a safe way to buy and sell bitcoin with those who really traders. Traders who does not scam other trader. Although there are always risk in making business, then take the risk. Maybe the good luck will be in you. Always risking the opportunity to eliminate the negativeness towards business and making negotiations to other crypto users. Try and try until you succeed. Actual bitcoin is pretty secure than digital bitcoin.
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