Is it legal to sell bitcoin for cash ?

[rosebrand]

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.

Yes, if we use bitcoin by converting it into cash then it is not prohibited, because in my country also recommended for it, but if transaction with bitcoin is not directly allowed.

[shashko]

Yes it is legal to sell bitcoin for cash in most countries. As i remember i red that the government approved cryptocurrency exchanges so you can exchange Bitcoin to cash without you breaking any law. in my country, there is not yet statement from government about bitcoin being legal or not for selling to cash, but i think they will approve it because you cant take more than 10K from the bank every month this means like 8\10 from bitcoin and this is because of the limit from the banks.

[MichaelSk]

Probably legal, I do not see anything strange that could make such a thing illegal. Most of the answers here are also legal, meaning many think that selling bitcoins with cash is legal. I do not know for sure, but it seems legal.

дa дa тoчнo oк
Like someone have rightly said, it depends majorly on the type of country over here, even though the country government have not made their position known, I have seen several entrepreneurs owning shops where they buy and sell e-currency and no one is disturbing them because even the law enforcements agencies probably don't have any idea about what they are doing and they are making their money without engaging in anything illegal.

[StacyKo]

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.

Do you know where I can find a list of these countries?

[fachant]

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.

This is probably legal in most countries. But it seems to me that you have to pay capital gains tax if you have made some money on the transaction. But I'm not 100% sure which countries are.

[s31joemhar]

That is the biggest question that the customers or clients that makes them worry about.  The answer is YES, you may convert the bitcoins that you have in your local currencies. 
Through this you can get the fruit of your hardwork and patience in waiting to generate.  Bitcoin is accessible in all currencies which anytime you may sell it in real money.

[deppil]

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.

Yes, if we use bitcoin by converting it into cash then it is not prohibited, because in my country also recommended for it, but if transaction with bitcoin is not directly allowed.

I think if a country has banned bitcoin and made a law and regulation to ban bitcoin, then any form of activity in bitcoin including transactions, sell for cash, buy bitcoin, etc is an illegal thing dude, even in some countries that forbid bitcoin, exchange sites are banned and blocked from operating, so I think it will depend on regulation in your own country, but you know you could just swap cash at other exchange sites because there are hundreds of exchange sites on the internet

[jundel]

In my country is fine to trade your BTC to money. I will do that to because for now the things I need or even important can be bought more using money. However BTC might change it. for now I can buy more with money. and its ok

[boboyboi]

i thought legendary rank has already an idea about legality of bitcoin.  Anyway we have defferent way and focus of learning.i think it depends in your country if they legalize btc or not in my not actually legal we are free to sell btc into local cash. as long as you are in legal age because during cash out and transfer into other account like bank account you need to put the correct personal info. in the wallet we use like coin.ph.

[dokie987]

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.

Oh really? that is great then. It is very legal to do selling you bitcoin. Do you mind me asking, how much is your bitcoin? how much do you have to sell?

[TheShire]

In the UK ...

is it the same the other way round ...    I would not mind buying BTC for cash  ?

has anyone found anything concrete from the UK authorities

any info appreciated

[Adeyemi]

Bitcoin is a digital asset class which is subjected to regulations.

In some countries, it's legal to trade this asset class. What this mean is that you can buy and sell Bitcoin in those countries for cash because it's allowed. Whereas, in some other countries, it's illegal to do so.

Just read though the rules of your country of residence and abide by those rules accordingly.

[TheShire]

Bitcoin is a digital asset class which is subjected to regulations.

In some countries, it's legal to trade this asset class. What this mean is that you can buy and sell Bitcoin in those countries for cash because it's allowed. Whereas, in some other countries, it's illegal to do so.

Just read though the rules of your country of residence and abide by those rules accordingly.

thank you for the comments

I ve been googling for The United Kingdom's reg's but I cant find anything solid ... just speculation

[diwataluna]

It is legal if your country has not yet set regulations about the buying and encashing of bitcoin. For example, in the Philippines, exchangers need to be registered with securities agency. ICOs are a different matter though.

[Aikidoka]

Well, my country did not mention the legality of using or mining bitcoin. Therefore, people can use it freely as long as they do not use it for illegal crimes. So, I think if I wanted to sell my bitcoin for cash, no one would interfere and tell me what I am doing is illegal. I guess I will be fine with that.

Added to that, selling another currency is clearly illegal because only banks are in charge of doing that. So if they caught you selling a currency, you would be put in jail.

[Oceat]

Of course, it is legal unless your country banned cryptocurrency trading to fiat currency but still even if it's banned you can still access Bitcoin on your own. It is almost anonymous and your country won't find it even if you are using it but the problem is that where can you find an exchanges to trade your Bitcoin to a fiat currency. So far i didn't know any country yet that ban Bitcoin from people on using it.

[Scripture]

I think you are referring to Bitcoin transfers from your wallet to another but the receiver will pay you money or fiat in return. I guess it is not illegal because it is just an ordinary transaction and any bitcoin holders can do it. I think it is more convenient and wise for the buyer if he acquire it from another bitcoin holder other than BTC channels because of the fees.

[nathan713]

Why not?!
I see nothing illegal in such transactions.

[SamsungBitcoin]

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.

[RakknRoll]

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.