Is it legal to sell bitcoin for cash ?

[malbterxic]

  In what can be not legality of sale bitcoin?
As far as I know these operations are not yet regulated by governments.
Another thing if it is a question of money laundering which were received not legally. It's another matter how safe sell bitcoin for cash, lately there are many robberies during such transactions.

[JC btc]

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.

Op it is not illegal to sell your Bitcoin for faith currency at all provided you have a buyer who can afford to buy at the rate that you want to sell. I don't know the country where you lives in but i presume there are crypto currency local exchanger that will make the transaction easy for you.

I don't think that it is also illegal in some countries, here in our country we are free to do it, there is no problem at all regarding that, so nothing to worry about it, what we should focus if you are going to sell it at cheap or you will just wait for the right moment until the price gets high.

[rhamdy]

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 understand Bitcoin regulations in your country. So I can not conclude whether it is really legal or not. Because in my country it is certainly very prohibited by the Government. So I really dare not do that.

[TheDagger]

yes I also accept it is legal thing..
But It only depends on where you from. because many country such as china, America and so on. they accept some popular kinds of cryptocurrencies. But some countries is not supporting based on their rules and regulations.. So it only based on your country.

[zmkriel]

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.

Do you live in a country where bitcoin is not an issue? If you are then you can freely to do so.  In my country, our local wallet allow us to to convert bitcoin directly into our local currency though there limits with regards to the amount daily. But the thing is we are free with easy and fast transaction to convert anytime we want to and just collect the cash in money remittance or deposit it directly into our bank account thru online banking.

[Hannahanto]

It depends upon your country. There is no issues in your country about bitcoin, you can make cash by selling bitcoin. Using local bitcoin exchange we exchange the bitcoin and get cash. For that you have to pay the transaction fees. Select the exchange with low transaction fees.

[Allincode]

In most of the countries it is legal I guess. Amount of 3-4k is ok. You don't even pay a capital gains tax for that amount.
Here is an interesting discussion on Reddit that I found. I advise you to read it, it could help to understand things in crypto better.

https://www.reddit.com/r/CryptoCurrency/comments/7m56g0/the_absolute_fucking_impossibility_of_reporting/

[sunniechance3]

If your country has proper exchange for converting bitcoin into fiat currency and proper tax system is implemented, then I don't think there would be any problem for converting bitcoin into cash. But if due to some reasons laws are not in your favor try to find some another like transferring into your papal account and so on.

[Ahiaba]

Selling or exchanging Bitcoin for fait currency is a normal thing to do and i see nothing illegal such activities or transactions.  Although in some country Bitcoin and crypto currency in general is not accepted as a legal tender for goods and services, so in such countries if you are into crypto currency related business you are regarded as somebody who is into illegal business activities.

[jaocoincrypto18]

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 will depend upon your country if they did not ban or declared Bitcoin as illegal. 4,000 Bitcoin is a huge amount that if it will be converted to fiat it will be $35.6 Million of money. If there is someone interested to pay you this amount then this will be not an issue in local exchanges especially if Bitcoin is legal in your country and your Bitcoin came from the good hands. Expect a Bitcoin tax for sure during your transactions because of the huge amount involved.

[Riser7]

Selling 3-4k worth of Bitcoins is not interesting to anyone. Just larger amounts.
If somebody plan is to sell regularly then it should be worried, because of taxes.
Is it legal? Probably yes. Depends on the country where a person lives.

[DeadCoin]

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 purely depends on where you reside. I live in a country where bitcoin is not yet legalized or said as an illegal one. I exchange the bitcoin in LBC. I don't think its illegal. You can even open a trade with a good account. Unless and until you are not cheating the users, you are at a greater side. Such actions are most welcomed then utilzing the given opportunity to misuse. 

[Eleven86]

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 purely depends upon in which country you resides. In your country bitcoin has not been banned then there is no issues. You can use local exchange and you can exchange  your bitcoin for cash.

According to which country you belongs it depends. If bitcoin is legal in your country then it is no problem. You can use the local exchange to exchange your bitcoin for cash. For this process you have to pay transaction fees. the fees depends upon the exchange you choose. If bitcoin is banned in your country it is not possible to sell bitcoin for cash.

[Greenkarki]

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 purely depends upon in which country you resides. In your country bitcoin has not been banned then there is no issues. You can use local exchange and you can exchange  your bitcoin for cash.

According to which country you belongs it depends. If bitcoin is legal in your country then it is no problem. You can use the local exchange to exchange your bitcoin for cash. For this process you have to pay transaction fees. the fees depends upon the exchange you choose. If bitcoin is banned in your country it is not possible to sell bitcoin for cash.

Selling or buying bitcoin is normal but you have to check whether your country permits this transaction or not. Once you change the bitcoin to fiat if it is large amount you have pay tax. Paying tax depends on your country.If your local exchange permits you can exchange your bitcoin to fiat. At the same time if the country already banned these type of bitcoin transactions, it is illegal, otherwise it is legal.

[brylle34]

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 in you country, in my country its perfectly legal there are few application that connects bitcoin to a certain app then connects to certain banks to get fiat money, It will be easy if your country has an application that converts cash to bitcoin and vise versa. Im pretty sure almost every country have an application or banks that converts bitcoin to cash. if your country is one of the countries who banned bitcoin then it will be hard for you to sell bitcoin, but i think if your posting here then bitcoin is not banned on you country.

[justicesquadron]

Each country has its own laws, for example in Russia has long been talking about imposing a tax on any income associated with crypto-currencies, but for now, as far as I know, there is no such law and you can legal to sell bitcoin for cash

[futureofeth]

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.

Yed,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.

Yes it is legal to sell bitcoin for cash here in our country, nothing to worry about it I don't know how it works to some countries especially those who have to pay tax in exchange for it.

In our country, they are charging very high fees for converting Bitcoin into my local currency, but Bitcoin is not legal in my country. Still, the government are in neutral stage and they are not taking any final decisions about the cryptocurrency.

[gudjhonson]

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 think what you want to do is not legal. Because not many countries that recognize and legalize Bitcoin in their respective countries. Maybe if in your country Bitcoin has been legalized, such things can be considered and allowed in your country.

[Broesel]

Hypothetically speaking:

If you buy BTC, let's say local with cash from a person you meet. Then there is no digital trail of you buying BTC. You just have your wallet with BTC on it. Afterwards you could sell the BTC, again face to face with the buyer, for cash. BUT, and it is a big BUT, you would evade taxes if you were selling with a profit and it would be illegal to do so in most countries. Additionally i guess it would be quite risky to buy and sell during a meet, because you would be carrying around some money and could easily be robbed.

[Sayed Rifat]

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.

If your Country bans Bitcoin, transfer your Bitcoin to a wallet of a foreign country (Coinbase operates in 32 countries). If you want to cash in, then use third party services like Virwox to get USD in Paypal, then use Paypal to get cash in your local currency.
Bitcoin is like Torrent, peer to peer and you can’t block it. If you have access to internet, You can use Bitcoin anytime, anywhere