Is it legal to sell bitcoin for cash ?

[shendy]

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.

Every country we occupy has its own rules. If in my country clearly, this is not legal and strictly prohibited. Maybe if I stay desperate to do it, surely I will get sanction. But I do not know if in your country like what. If it is legal, you can do it freely.

[Sithara007]

In India, the situation is getting more and more complex by the day. The government has realized that it is not possible to ban Bitcoins. But they are using whatever opportunity they get, to harass the Bitcoin users. So it is a difficult situation for the Indian users. Although converting BTC to cash is not illegal, if they show it in their tax returns then it can make them vulnerable to government harassment.

[palvinta]

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.

It is obvious that selling Bitcoin in cash is completely illegal and prohibited. If you still want to do it secretly and you will surely you will get a sanction.

[HereisTommy]

Depends on how your country behaves towards cryprocurrencies. If it is legal - you can do it, I think

[zarados]

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.

of course, is there a country that does not legalize it? to note here is the amount of money generated after selling your bitcoin. for the amount you mentioned I do not think there is a problem, but if the amount is large enough and has reached the value of money that the government must investigate about its origin, you must prepare everything. As long as you get it by trading or from a sig camp it will not be a problem.

[MaydayMayday]

Mostly depends on how the government of your country reacts towards it. Check out laws and you'll have the whole situation in your head =)

[Arkyo]

It depends on the country. For example, in Russia there is no legislation on cryptocurrencies. But if you sold your coins and got rubles, you have to pay tax.

[chel0]

I would say that it depends in what country you are permanently staying. In our country as long as selling of bitcoin is rightfully done then that's legal. Again, using a particular financial services platform, you can directly convert your bitcoin into a fiat or regular money then cash it out by selecting any payout method at your convenience.

[cryptojac17]

I would say that it depends in what country you are permanently staying. In our country as long as selling of bitcoin is rightfully done then that's legal. Again, using a particular financial services platform, you can directly convert your bitcoin into a fiat or regular money then cash it out by selecting any payout method at your convenience.

We are lucky that we belong to a democratic country which is freedom of  expression and of enterprise and free dom  to buy and sale bitcoin, in my country even the central bank support the proliferation of bitcoin and crypto  currency because the central bank believe that it's  an innovative currency which fast and economical means of remittances.

[futureofeth]

Mostly depends on how the government of your country reacts towards it. Check out laws and you'll have the whole situation in your head =)

Each country has their own rules and regulation we cannot blame them because we are residing in those countries. So we have to follow them otherwise, they will block our bank accounts without any intimations.

[darkedelf]

in my opinion. search if there is an existing local bitcoin exchange that operates in your country and most importantly that are legit. If there is then it's safe to do that but if not then you need to make further research.

[btrice7]

I think 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.

[blodelf1]

it really differs from country to country, for instance in the Netherlands bitcoin at the moment is tax free as are the profits gained from it, in Austria you for instance pay a tax of 50% over winnings when claimed within one year of the transaction. Exchanging BTC to EUR is free upto 700€

[guffie]

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.

If in my country this is not legal and strictly prohibited. If I break it I will be subject to sanctions. But do not understand that in your country. Maybe in your country also not legal this. Because now there are so many countries that prohibit Bitcoin in his country. Moreover, you want to sell Bitcoin in cash. Definitely strictly prohibited.

[reality18]

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 on your country of residence. Some countries don't allow any transactions with Bitcoin to fiat. However, there are private organizations like e-currency which allows individuals to convert bitcoin and other cryptocurrencies to fiat. Just connect your credit card and you are good to go.

[Ridwan Fauzi]

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.

It is obvious that selling Bitcoin in cash is completely illegal and prohibited. If you still want to do it secretly and you will surely you will get a sanction.

Who decides that is an illegal? look arround, where do you live? it's true and happened in your country (but I do not believe it will happen). Buying and selling bitcoins is free to do, depending on the deal of the person who bought and sold. I have never heard if anyone in another country and buy bitcoin will be criminalized, I have never read in coindesk, ccn.com, cointelegraph there is a government that punish its people who buy bitcoin or altcoin. They only provide threats only, in practice they are not really criminalized.

[ersmny1]

in my opinion 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..

[renz0]

in my opinion 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..

Yes if BTC isn't banned in a certain country then it is legal to sell bitcoin for cash.Selling of BTC is done in a peer-to-peer network so as long as it is done rightfully,no laws or rules are being implemented regarding the selling and buying of bitcoin then there's nothing wrong with that and it's legal.

[klarnetcijamie]

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

[pareshnakar]

yes is it legal we have  convert to our currencies through zapay and Is it legally.