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Author Topic: Is it legal to sell bitcoin for cash ?  (Read 9182 times)
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November 09, 2017, 02:08:17 AM
 #161

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 was depend on the legalization of bitcoin in your country if there is no news about bitcoin it is ok to buy or sell bitcoin and make sure you are real buyer or seller and not a scammer because that is not tolerable in the law you will be punished inn that way doing.

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November 13, 2017, 10:07:33 AM
 #162

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.
well it depends on the legality of bitcoin in your country, because in some countries selling or buying bitcoin is pretty much illegal, so if bitcoin in your country is legal then you have the go signal to sell your bitcoins.

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November 13, 2017, 10:38:03 AM
 #163

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.
well it depends on the legality of bitcoin in your country, because in some countries selling or buying bitcoin is pretty much illegal, so if bitcoin in your country is legal then you have the go signal to sell your bitcoins.

Yeah really depends on your place but you don't have to worry if bitcoin is ban in your country because i believe bitcoin will become the future of all, so just hold it and enjoy big profit later on.
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November 14, 2017, 12:22:18 AM
 #164

Legality of things depends on the existing law or rules of the country with regards to a certain matter. if there is a law or rules with regards to selling we should abide with it to be legal..if there is non then there is still a rule that should be followed an that is the rules of norms..

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November 14, 2017, 02:32:58 AM
 #165

Yes, because the bitcoins are legal digital currency and you can exchange legal currency with legal currency

There is no government which tells you why are you exchanging this currency with Bitcoins.
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November 14, 2017, 03:18:34 AM
 #166

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 would depend on the legality of bitcoin in your country. If you are in a country where bitcoin is not allowed then it would be illegal but if you are in a country where bitcoin is not yet illegal then I think it would just be alright to sell it for cash. As for me, I often sell my bitcoin for cash because I need to pay some expenses urgently. Though our country didn't make it bitcoin legal yet but they didn't also ban it so that's why we can freely do what we want with bitcoin as long as it would not involved any illegal activities. We would just convert bitcoin to our currency and then send it to our bank account or remittance center available.

Since the amount would be pretty big when you cash it out, banks would be alerted to it and may investigate the matter where you got the cash. Be sure also to pay the applicable taxes if there are any.

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November 14, 2017, 07:32:39 AM
 #167

Yes, because here in us there is a popular exchange that is very reliable for converting our btc to fias or vice versa. You can also ask your local fellow bitcoin earners to make sure it's really legal just for assurance.

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November 14, 2017, 08:31:34 AM
 #168

Unless doing so is illegal in your country, I think that it is perfectly legal to sell bitcoin for cash. The only thing is that you may need to pay capital gains tax (either short-term or long-term depending upon the duration of your holdings) on your profits. So it may be wiser to exchange your BTC for gold or some other asset. I guess that you don't have to pay tax on those gains.

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November 14, 2017, 08:34:21 AM
 #169

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.

I think it depends upon the country/state you live in, if they have banned bitcoin there, then you might land in trouble while doing this transaction. Otherwise, it is legal to buy/sell bitcoin with cash.
So you might wanna check on your local law before doing this.
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November 15, 2017, 01:47:00 AM
 #170

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.

Just like others said, it will depend on your country. But do you mean transferring it to another account in exchange for money in actual action transaction. But why selling it for cash where you can convert it to cash and cash it out? Is it to make everything easier?, they're almost the same isn't it? I just don't get the point!  Undecided

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November 26, 2017, 01:54:17 PM
 #171

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.

From a legal point of view I think that this relationship looks like purchase agreement,You sell things that do not have conflict with the law,Bitcoin does not comprehend the general principles of justice but does your country have special norms about this? “It is an item of the market”. You can sell eveything wich is not prohibited and wich is an object of free market.so you need to read your states legislation.but as i know The European Union has not created legislation.  For bitcoin as a currency and i have never heard international agreement about this.despite this you should read every Legislative amendment about this.

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November 26, 2017, 02:09:45 PM
 #172

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.

Yeah,it is absolutely legal to sell bitcoins for cash,it is illegal if your country banned that bitcoin.But some countries having limitations for cash trading like $2000 is the highest value you can trade with direct cash if your amount is more than that amount then you have to get through banking transaction.The limitations maybe vary for different countries so you have to google it to find the limitations of your country.
But in my country doing these kind of trading is absolutely legal.

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November 28, 2017, 07:50:31 AM
 #173

Selling bitcoin isn't quite as straightforward as buying bitcoin, but fortunately CoinDesk is here to help. This guide will give you all the information you need to cash out your digital currency. When deciding how to sell your bitcoin, you first need to consider which method best suits your situation: selling bitcoin online or selling bitcoin in person. Each option has its own advantages and disadvantages.
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November 28, 2017, 07:52:39 AM
 #174

It depends on your Government. or else, Bitcoin trading is completely legal. But maybe the Tax Collectors will knock your door for some extra, hahaha.

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November 28, 2017, 10:37:10 AM
 #175

Selling bitcoin isn't quite as straightforward as buying bitcoin, but fortunately CoinDesk is here to help. This guide will give you all the information you need to cash out your digital currency. When deciding how to sell your bitcoin, you first need to consider which method best suits your situation: selling bitcoin online or selling bitcoin in person. Each option has its own advantages and disadvantages.


It would be better to sell trusted exchanger rather than person because if you sell it to the people, they already become the second party so if you sold bitcoin to people, you may being charged for their % fee so although you're sell into exchanger, they just applied smaller fee !

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December 01, 2017, 01:41:27 PM
 #176

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.

Best & cheap way is to hold bitcoin till your country make selling legally.
also, you can use this site to get some users in your country can 1:1 Buy from you.
last way use escrow service and exchange your BTC for payeer, prepaid cards,..........etc

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December 01, 2017, 01:43:42 PM
 #177

Each country has different laws on the permitted legal services non-qualified people or companies can provide. You will need to do a country by country research to determine the local rules, depending on where you want to establish your business.
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December 04, 2017, 08:58:46 AM
 #178

Each country has different laws on the permitted legal services non-qualified people or companies can provide. You will need to do a country by country research to determine the local rules, depending on where you want to establish your business.

Right. It's possible that you will be able to know that because it will make news and it will spread everywhere. Like here in us, I can sell it legally but bitcoin is now making noises in national tv and the government are now discussing on what to do with it.

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December 04, 2017, 08:59:52 AM
 #179

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 were are you located and the based legislations of the country.
Probably if your on the UK or US you have to do the proper paper work, taxes and all.

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December 04, 2017, 09:12:57 AM
 #180

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 could sell it anytime, any where and to anyone as long as bitcoin is not declared illegal in your country anyway the ending point will be the last owner of that bitcoin who want to convert it to fiat still they will gone through local exchanges and pay the service fees, transaction fees and bitcoin tax if there is imposed policy. You could sell it specially if you will sell it in a cheaper price than the market price.

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