Is it legal to sell bitcoin for cash ?

[aesma]

You can do whatever you want in the US with lower quantities. With higher you would just have to figure out how to report it lol.

I think only problem is taxation. Apart from that everything is fine with selling bitcoin for cash. But make sure you know the person a bit. Dont trust strangers.

If people thought like you nobody would sell anything for cash. You don't have to know the person you're selling to. All you need is to be sure you're in a crowded place during the day. If you're so scared you can always bring a friend with you to hold your hand.

There is another reason to be suspicious of cash : fake bills. Getting fake bills in exchange of real bitcoins, that would be a bit ironic, but not good.

[cryptobiker]

Well if it is upto the governments BTC was never legal... so even possession of one is crime... but since there is no way for government to track down the exact ownership they are settling down with taxes that is of course if you involve bank in to your transaction... I think there is nothing wrong in selling bitcoins in cash even better trade straight with seller in BTC rather bringing in fiat in transaction at all.... If you are seeking cash for daily needs than it means you are selling small amount of btc's may be in satoshi's ... which should be ok to sell in cash

[savushkinTA]

Depending on how much you are buying or selling, it may violate local laws if proper paperwork isn't handled. You should check your local applicable regulations regarding what may qualify as 'money transmission' if you are worried.

[rausvi15]

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.

Being a legendary member, you should know such basic information about liquidating your bitcoins. Yes, it is very much legal and you can covert  it but make sure to check the local law related to the cryptocurrencies.

[rmilly]

It's not legal, but legal at the same time. Just watch out when your amount gets above a certain amount where it can get suspicious.

[christian07]

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.

that is given here because we have already a exchanger that you can buy bitcoin like the wallet here in philippines but its so high if you buy bitcoin,if you say you sell in real life i think the person that you like to sell your bitcoin is no knowledge about bitcoin then teach him or her,its legal but the best is to teach him or her about to buy bitcoin

[matuson]

If in your country there is no explicit prohibition on the use of bitcoins there is nothing illegal in such transactions no. In addition, such an operation is impossible to track. In my country very few people that use bitcoin. So I put the money through the exchanger to a Bank card. Even such transactions are not tracked.

[mkmdoc]

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.

Being a legendary member, you should know such basic information about liquidating your bitcoins. Yes, it is very much legal and you can covert  it but make sure to check the local law related to the cryptocurrencies.

Yes, as hero members he doesn't know about how to liquidate Bitcoin and after liquidating, he needs to follow the legal regulation and Tax regulation because if you tax on your transaction then it is a legal currency.

[ALT67890]

It is not highly recommended in many countries and state but they're must be an exception depending on how your country tolerating this kind of transaction. In my country those big amounts if not declared after the exchange is a red flag and may question its legality under money laundering act. As it could be suspicious when bitcoin is not well documented and not recognized by that government. So just be careful on dealing with those amount. If it necessary you can divide it for safety.

[sukamasoto]

It is not highly recommended in many countries and state but they're must be an exception depending on how your country tolerating this kind of transaction. In my country those big amounts if not declared after the exchange is a red flag and may question its legality under money laundering act. As it could be suspicious when bitcoin is not well documented and not recognized by that government. So just be careful on dealing with those amount. If it necessary you can divide it for safety.

If government forbid bitcoin usage so you need stop to do it meanwhile my governement side, still not legalize but not forbid yet so I can still able use bitcoin with my own risk as they can't help me if something bad happen when I use bitcoin

[Zackgeno96]

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.

It depends on your local laws, Mostly it is safe to sell the bitcoins for cash; no authority is able to noticed that you have en-cashed the coins as the transactions takes place anonymously and the identity of the user is hidden. 

[olushakes]

If anyone wants to bother himself about the letters of the law, you would probably not make any move at all because there are several laws that you don't even know existed until you commit an offence then you realise how much laws you have broken. Over here in my country, I have done a lot transaction via bitcoin conversion to cash but it went through bank after the transaction has been completed via social media. Its just going to be someone sending money to another individual which is not against the law.

[Granxis]

Two things important first how much you want to sell second the laws of the country, against the laws of the country where the judgment was made before making a correct decision.

[ALT67890]

It is not highly recommended in many countries and state but they're must be an exception depending on how your country tolerating this kind of transaction. In my country those big amounts if not declared after the exchange is a red flag and may question its legality under money laundering act. As it could be suspicious when bitcoin is not well documented and not recognized by that government. So just be careful on dealing with those amount. If it necessary you can divide it for safety.

If government forbid bitcoin usage so you need stop to do it meanwhile my governement side, still not legalize but not forbid yet so I can still able use bitcoin with my own risk as they can't help me if something bad happen when I use bitcoin

Good for you, and i do agree on that "you need to stop when it is forbidden". Maybe you misunderstood me, because in my country it is not illegal and not yet legal either. But to make such big transactions is not ideal as our government are fighting or tracing much now on illegal activities including money because of many issue of laundering cases before it is only prevention but being hassled is something I don't want to be.

[darkangel11]

Two things important first how much you want to sell second the laws of the country, against the laws of the country where the judgment was made before making a correct decision.

The laws are unimportant as there are no countries that have banned the ownership of BTC. You can't be punished for trading cryptos. In some countries you can't open an exchange, because you won't be able to register it with the authorities, but still there are no countries where bitcoin transactions are being watched and penalized. In other words, you can sell your coins for cash all around the world... for now.

[dylanc]

I guess it depends on which intermediary you're using. If it's private, as in person to person, I don't think there is any problem. I mean.. you can basically sell anything for cash?

[LeGaulois]

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.

You are a Legendary member here and you are asking such question?  Are you real?
As long you pay the related taxes if you bought those coins. So far I don't see why shoud it be illegal and if it was a banned activity in your country you should already be aware of it (hummmm not sure after all)

[jakezyrus]

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.

no, bitcoin is used for buying and selling therefore its not illegal and no one can say or has a law that its illegal. you can do whatever you want with your bitcoin because its yours and no one can stop you not even the government or whatever those people think that bitcoin is illegal.

[bitcoinisbest]

I guess it depends on which intermediary you're using. If it's private, as in person to person, I don't think there is any problem. I mean.. you can basically sell anything for cash?

If within privately you deal in cash then there is no issue only as many of them would be even doing this. But you need to be honest and pay taxes and record this in books of accounts. There are some counties where anything traded above in certain amount in cash will require the valid id proof of the other person just so that its recorded.

[wolfracer]

In my opinion because of it will be a sale in cash, the state of illegality or not, will not influence this, Since there will be no trace of that transaction. However, attach this link to know what its status in your country; https://www.coindesk.com/information/is-bitcoin-legal/