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Author Topic: Is it legal to sell bitcoin for cash ?  (Read 8818 times)
valintino7
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March 07, 2018, 07:48:36 AM
 #281

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

Thanks for reading.
Depending on each country. Is your country Bitcoin legalized and allowed freely? If in your country Bitcoin is free to use in any case, I think this is a good thing to do. But if in my country is still legal to sell Bitcoin in cash.

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tyroneipphillips25
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March 07, 2018, 10:08:34 AM
 #282

is it question from a LEGENDARY memeber  Shocked Shocked Shocked
futureofeth
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March 07, 2018, 11:01:20 AM
 #283

As of Now, there is no government influence on selling and Buying Bitcoin. In my country government didn't take any action about banning the Bitcoin. But they are collecting taxes on Bitcoin conversions while converting the Bitcoin to fiat currency we have to pay taxes.

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March 07, 2018, 02:02:00 PM
 #284

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.
hello sir,i think selling bitcoin in cash is legal,if they want to do that then why not we have to respect what is their dessicion if they want to sell there bitcoin.

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Zabrielle
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March 08, 2018, 01:03:28 AM
 #285

It depends what country you are in. In my country i think there is nothing wrong of selling bitcoin in cash. In fact there are people will pm or send private message if the account is for sell and yes if they want to sell their bitcoin.

crzy
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March 08, 2018, 01:35:41 AM
 #286

yes, ofcourse . You can search in google you will find a lot of website selling and buying bitcoin in cash

Its legal in some places but if you are in a country who prohibited its people to buy cryptocurrency, better to follow on that rules to prevent any consequences. A lot of people are selling their bitcoin personally here in my place, its safe and its easy to do so try to make sure if your country don't regulate that kind of transactions.
godwyn50
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March 08, 2018, 06:29:17 PM
 #287

I was wondering if it is legal to sell bitcoins for cash in person using localbitcoins in WA or OR? I wouldn't be a money transmitter as I would be receiving or giving the cash directly/in person. I did read a story about someone getting in trouble in Illinois. Considering I'm not doing anything illegal like in the case of the man in Illinois, could I get in trouble for simply buying and selling bitcoin in person in WA or OR?
dragon fire
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March 10, 2018, 08:29:57 AM
 #288

is not that a bitcoin benefit? we can sell it and get cash from bitcoin. so why there is legal or illegal question? yes maybe in some country it is called illegal, whatever the cause, i also do not know it

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March 11, 2018, 07:18:39 AM
 #289

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

Thanks for reading.
I do not think this should be done. Because Bitcoin cannot be used freely. Yes, maybe this is in my country. But I do not know if in your country is allowed or not to sell Bitcoin in cash.

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punitjain
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March 11, 2018, 12:11:31 PM
 #290

no its not legal to sell bitcoin for cash
mann1983
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March 11, 2018, 01:18:47 PM
 #291

dealing in cash is not a legal thing.
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March 12, 2018, 09:41:16 AM
 #292

   It depends on country. We have not law which may be implemented to such kind of deal here in north Asia. So I cant say this deal is legal but I cant also call it illigal. Only law we may cling here is taxation, we have to pay taxes from any profit

SmDGrinder
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March 12, 2018, 12:26:19 PM
 #293

Like is it legal to sell my phone on ebay and skip paying taxes.. Even if it is forbidden there are backdoors and back channels which we are constantly reading in China for example.

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March 12, 2018, 01:39:53 PM
 #294

Like is it legal to sell my phone on ebay and skip paying taxes.. Even if it is forbidden there are backdoors and back channels which we are constantly reading in China for example.
But if you are caught pretty assure that you put in jail just be careful by doing the backdoor transaction you may intrap at that situation and may police may arrest you by unfollowed the rules. If you are in the country that recognizing bitcoin and another crypto you are lucky enough just to have a money then if bitcoin prohibited the don't try double risk is there.

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March 13, 2018, 09:18:13 AM
 #295

It depends on the status of Bitcoin in the country of transactions, Average responses here will deal with taxation.
It is true, because fiat money is not anonymous and there is a governing law. Any transaction involving fiat money of a certain amount must pay taxes to the state.
I think this is difficult if we think of BTC's own legality, because if the country does not legalize BTC, it needs a good strategy to make the transaction legal.
zmkriel
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March 14, 2018, 03:24:30 AM
 #296

I feel so lucky that i live in a country that bitcoin is not an issue in a bad way. Therefore, converting my bitcoin into cash was just so easy for us. It can be cash on hand after converting it into my local currency and claim the amount in a remmittance center or goes directly into my bank through online banking. Though you cannot have it all in just one transaction because there is a limitation of the amount per day.

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March 14, 2018, 09:46:56 AM
 #297

I think we can use third party service to sell bitcoin for cash and we don't have any problem to do this. I and my friends use another friend which buy and selling bitcoin and he is helping people like us to send the money and I think it is not a problem in our country. besides that, if we don't have a friend that could help us, we could still use localbitcoin which I know is a good site that helps people to sell their bitcoin.
Requim
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March 14, 2018, 12:58:04 PM
 #298

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 actually depends on the regulation in your country. Some countries already banned cryptocurrency and trading which makes selling them for fiat illegal. If not, you can freely convert your crypto to cash as much as you can. Some countries ban them because they see it as a threat to investors since it is not backed by a legal entity, however, some are supporting it because of it's use and convenience.
SixOfFive
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March 14, 2018, 10:05:08 PM
 #299

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 upon that you are from which nation. If you are from that nation where bitcoin is prohibited then it is illegal. If you are from that nation where bitcoin is not prohibited then you can sell it without any problems. We all have to sell our BTC only to those people who are trustworthy because there is a chance of getting fraud with you.

xandra
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March 16, 2018, 06:04:46 AM
 #300

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.
Yes,indeed! same with my country I don't see anything wrong if we will sell our bitcoin for cash. We can directly convert also our btc into our own money through an online wallet,we can make transactinons with out any fear of illegality and I am thankful with that.

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