Is it legal to sell bitcoin for cash ?

[Saif Mughal]

yes offcource it is legal to sale BTC for cash if you need money then you have to present your BTH for sell.

[zulkarnaen]

if talking about the legality of bitcoin transactions may be in my country is still unclear because so far every bitcoin transaction that i have done has never experienced a problem, although currently the government in my country has drafted a law on ban bitcoin transaction. but I hope the government in the country i will consider the Law

[biskitop]

I think the concept of selling the bitcoin for cash is common practice allowed by the government and the law.
It is just like a concept of selling stocks and securities in the stock market which they gain more money from it.

I agree with you. Bitcoin is a great investment asset, I think bitcoin transactions (selling bitcoin for cash) must remain in government and legal protection.

[inforocker]

Why don't you use normal exchange and get Fiat? It is legal everywhere then and you won't be accused of money laundering...

[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.

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.

I think, you do not know that nepal, kyrgyzstan, indonesia, bangladesh Bitcoin and crypto money exchange are forbidden. There is also the possibility that in countries where Bitcoin is not prohibited, they will be subject to tax control that trades Bitcoin in large quantities. For this reason, it is more logical to transfer it part and part to a bank account.

[rhamzter]

if talking about the legality of bitcoin transactions may be in my country is still unclear because so far every bitcoin transaction that i have done has never experienced a problem, although currently the government in my country has drafted a law on ban bitcoin transaction. but I hope the government in the country i will consider the Law

In our country they consider converting of bitcoin into cash. Also the wallet I used in bitcoin are using exchange, from cash to bitcoin and from bitcoin in to cash. In addition converting of bitcoin in to cash is not against the law in our country but it not means that this digital currency are legal. Maybe all crypto currency needs is to follow the rules and regulations of our country.

[goaldigger]

So are you saying that instead of buying BTC to outlets, they buy it to you?. If that so , i think its ok because in my country, its just a way of lowering the charges, and lessen the fees. Just make it sure that the amount of conversion is just right for the both parties.

[AravinthP]

Anyone has an idea about weather the gains made are capital gains? If so i guess one doesn't have to pay tax after 3 years i guess on profits/

[janah]

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 to the country that you are in because you might get caught about selling Btc if your country not legalize bitcoin and they think its a ponzi then you will be arrested. So check the status to your country before selling your bitcoins.

[ace4549]

Ofcourse it is legal and there is no such thing for me that it can be illegal or any problem with that.
In fact the purpose of bitcoin is once you are ready to retired; you may converted it in your local money to support all your finances. Bitcoin is meanly created to provide a better life for everyone in future.

[madwica]

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 to the country that you are in because you might get caught about selling Btc if your country not legalize bitcoin and they think its a ponzi then you will be arrested. So check the status to your country before selling your bitcoins.

That is true that it will depends on the countries because we all know that there are some governments are against in bitcoin that is why be careful on selling your bitcoin in that countries. Luckily i am on the country which bitcoin is adopted and very supportive government officials that is why we are freely to buy or sell bitcoin.

[hitheshk]

I have no idea wheather it is legal to sell bitcoin for cash it depand on the country wher they are living

[SiOmnesEgoNon]

If bitcoin is not ban in your country It should be alright. Bitcoin transaction can't be tracked any way then you will going to be paid in cash directly and personally by the buyer. So It depends on your country

[abattoirs02]

I think is depends roule of law in your country.
Maybe , you can ask to goverment banks..

But, i think better sell it in bitcoin market.

[El Il-mythos]

On my own understanding so far I don't think someone would called it illegal, bitcoin is free from government authority.

[Mr.Dick]

depending on local laws, it may change, but generally it is for sure if you tax it right

[gundala]

Well, I think every exchanger gives the option to withdraw into a fiat, and that's legal. It has nothing to do with the government as long as access to it is not blocked. Then from the wallet can be directly sent to a bank account. Then, which part is debated?

[BigTeeths]

If no one's are getting arrested then it's legal and if there's no law, it's obviously fine. I heard many countries than impose a complete ban and I hope your country is not one of them.

[Erichallig]

there are countries that prohibits using bitcoin especially buying and selling because some governments are claiming that virtual currencies are often linked to money laundering and other illegal activities.there are some countries legalizing bitcoin trading to fiat.

[dokie987]

As far as I know from my mentors, they say that bitcoin is legal and can be converted to cash whenever you wish for either in your country currency, or in dollar.