Is it legal to sell bitcoin for cash ?

[marielbeckham]

Every country has its own regulations regarding this.

[doodle07]

Its legal but it depends on where you sell it, if you’re in a country that Bitcoin is still questionable they might have the mentality that Bitcoin is a kind of gambling, scam and its illegal. Its legal to sell bitcoin for cash because some things and some of our daily needs must be paid thru fiat/cash. Lets just continue supporting crypto because this might be the solution for us to be successful.

[Untitled01]

Everything will depend very much on local legislation. In my country, this can be done without problems. In some countries there are exchangers even on the streets.

[goldenplak]

I think If the bitcoin not sold to cash, for what we have to collect so many bitcoin? I put together a bitcoin just to earn some money and it is legal in my country

[ariaalex]

yes..but not all over the world..some countries banned bitcoin..its depend what county you liveing.some country need a money transmitter license for big amount.

[Melvin Narag]

People buy Bitcoin using cash to trade, when they earn they sell it to have cash, and when they feel buying Bitcoin again then they will use cash, and repeat the cycle and do it vice versa, nothing wrong with it since it is the common logic for things (intangible product as well) to be sold when it becomes valuable or buy the same things if it needed again.

[ronealdenila]

Well, that depends on your country. Here in our country, it's very legal to change that bitcoin into cash. So if you think you're on the country that bitcoin is not legal then i suggest to hold it first and wait for it to boom (price go up).

[whitecaramel1]

you can sell bitcoin for cash. As long as your country is not prohibiting you in selling it. Or there is no law in your country that making bitcoin illegal.

[Oasisman]

Im a bit confused why he's asking whether selling Bitcoin for cash is legal or not. When he can just simply sell it in an exchanger for USD and convert it to his local currency.
Well, if there's a restraining order in your country that prohibits Bitcoin selling or buying, then it doesnt need to be ask.

[mnyers1]

en selling bitcoins for cash - aware of taxes. I woulg seggest you to go to bookkeeper in your city to make it fully legal from taxes side

[cryptorocket84]

All this depends on the legality of bitcoin in your country, in my own country, you can easily send your bitcoin exchange to our local currency and u can transfer to your personal account so i dont see any thing bad in selling your bitcoin.

[princeyeboah]

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 where you are coming from. The question is, is it legal in your country to trade with Bitcoin? If yes, then you are good to go. If no, then you can think of finding your way out of the country or allowing a trusted person to exchange to cash in another country for you.

[Kinan07]

in my country it is not a problem, bitcoin users can easily convert bitcoin into local currency in our country, even in our country regulations Act on bitcoin has not been applied yet. but we will do within the limits of our own judgment.

[Simone18]

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.

Same with here mate in our country it is fine to sell bitcoin for cash through our local wallet we can convert btc to money and we can get it through remittances or directly through banks.

[alon_alon]

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 all depends on where you live and your government releases Bitcoin in any way or just forbids it. If in my country it is clear this is very illegal and if I do it I will get very big sanctions. Because Bitcoin in my country is still quite limited its use. So do not carelessly do the things we like with Bitcoin.

[Beldon]

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.

Maybe if in your country legal and allowed to sell Bitcoin with cash. But if for in my country this is not legal and strictly prohibited by the Government. You must know what is allowed and what is prohibited in the country where you live.

[bitcoindian]

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.

Maybe if in your country legal and allowed to sell Bitcoin with cash. But if for in my country this is not legal and strictly prohibited by the Government. You must know what is allowed and what is prohibited in the country where you live.

You're definitely correct mate. Well, each country have different rules and regulations about bitcoin since this dominant crypto currency is so demand here in cyberworld. Also, we must aware the possible outcome since this kind of business is so controversial which need a great security in terms of transactions.

We have to follow the rules and regulation because we are living in those countries, but if you found any local exchanges where it is possible to convert. Even Bitcoin is not legal in my country but many people are exchanging their Bitcoins to fiat currency.

[jerix]

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 I think this is not legal but if we do it secretly and not spread by any party I think legitimate. But you should not do the thing that will cause big problems for yourself and for the development of Bitcoin. So just do things that not banned and things that are positive.

[Sandeep24]

In India, it is legal if you can pay tax as per government norms otherwise it is illegal.

[Blondy12]

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.

In my country, it is not a problem if we convert our bitcoin into cash. But the thing is, there are limits on how much we can be able to convert in a day. Though it doesn’t matter that much anyway because we can do it again in the following days to come. And there is also another option for us, we can do online banking like converting bitcoin to cash directly from our bitcoin wallet and forward it to our bank accounts. Fast and easy.