Is it legal to sell bitcoin for cash ?

[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.

Depends on your country of residence mate. Some countries do not accept any transaction in the form of bitcoin and to do so in such countries, you go by illegal means. However, there are countries where you can free convert your bitcoin to cash without much hustle.

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[cryptojac17]

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.

In my country we are lucky  enough that our central bank recognized bitcoin as economical and faster way as a medium of remittances, that's why you can download wallet from the net but of course you will sign up and submit kYC and then you'll notified upon acceptance, then you store your BTC or ETH, and can convert to our local currency then send to the bank  or some local remittance center that how easy  it is  in our country.

[NyLymZbl]

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.

No announcement that bitcoin can't sell into cash, since bitcoin using to exchange for cash. Moreover in our country bitcoin was not used to exchange of goods and services, but if you convert it to cash that's the time you can used it. Otherwise, I think selling bitcoin is not illegal because if it is illegal there's a possibility that bitcoin and other crypto are going to banned.

[Magic Sarap]

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.

Depends to your country, if your country banks accept the system of bitcoin that's easy to convert into cash. Some countries accept it and they're no hussle to bitcoin over cash

[Klausi]

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.

In my country we are lucky  enough that our central bank recognized bitcoin as economical and faster way as a medium of remittances, that's why you can download wallet from the net but of course you will sign up and submit kYC and then you'll notified upon acceptance, then you store your BTC or ETH, and can convert to our local currency then send to the bank  or some local remittance center that how easy  it is  in our country.

In that case I could wish that the whole world will be implementing that ways on how each central banks will definitely adopt this kind of system. That KYC should be a mandatory to each and every people whom exchanging and selling their btc, whether its peer to peer or legit banking transactions

[elachious123]

Since the bitcoin was bought with Fiat cash, selling it to cash shouldn't be a problem, to me is legal to sell bitcoin to cash

[quality.crypto]

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.

Depends to your country, if your country banks accept the system of bitcoin that's easy to convert into cash. Some countries accept it and they're no hussle to bitcoin over cash

Even some countries who still, didn't legalise are converting into cash because some local exchange are doing transaction. In my country I am converting bitcoin to fair current even though my government not legalised it.

[labhsikh123]

It is legal but there is required to pay tax.

[tambok]

Legality of bitcoin depends in our country, a lot of country nowadays seek bitcoin as a threat to the cash flow system but a lot of country as well are fine with this since they are okay with the opportunity of cyrptocurrency, they are aware of it and they find this kind of technology a way big help.

[spikerrr]

As far as I know there is no such law about illegality if you buy or sell bitcoin in actual real. I think that is safer too.

[Sandeep24]

If you are exchanging / purchase Bitcoins in your local currency then no one can be arrase any question about your transaction because it is in cash.

[ruthbabe]

As far as I know there is no such law about illegality if you buy or sell bitcoin in actual real. I think that is safer too.

There are 195 countries in the world today and of that figure, around 30 countries where usage of Bitcoin is legal. So, if you live in a country that prohibits cryptos, such as Bitcoin you might be violating laws and I don't know where you can cash out that amount... OP says the mount is close to 3-4K. So, I presumed it's Bitcoin and it's quite a big money, and I'm certain banks will not allow you to withdraw it but instead, they will bombard you with questions.

[Temujhin]

yes maybe in various countries there is already legitimate or legal to be able to sell bitcoin with cash, but in my country still can not do that, because the legalization status of btc was still in talk

[cryptorocket84]

Sometimes am so surprised that some people still face problems with whether or not it is legal to sell bitcoin. Do you need anybodies permission to take your bath? the answer is NO! why then do you need someones permission to sell your bitcoin?. Please find out how people sell theirs in their country and apply the same method i believe it will work for you.  

[Lang09]

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.

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.

[FUD Expert]

For legal matters, sell it only on accredited exchange so you know what is okay and what is not. If you can't find a single one that exists then I'm pretty sure that bitcoin is either banned or treated as a scam in your country.

[labhsikh123]

In most countries, it is legal to sale for cash. But you will have to pay tax and follow the rules and regulation of concern country.

[Farahtenan]

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 you live in my country, of course, this is very illegal and prohibited. If you are certain you will be subject to sanctions. I do not dare to sell Bitcoin I have with cash. But I do not know if in your country the rules are like. Maybe you should first understand the rules that exist in your country. Do not take the wrong action.

[auliasilvana]

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 personally, of course, this is not legal and certainly very prohibited. If I violate it I will be sanctioned. This is done in my country. But I do not understand the rules that exist in your country. Maybe you can understand it first all the rules in your country that concerns about Bitcoin so you are not wrong in taking action.

[LegendzX]

For cash? I think it depends on where will you going to make transaction. If you are making transaction through online local exchange in your country and your government allows it to exist that is legal but if what you are trying to say is selling it directly to a person and in your country doesn't allow someone to conduct it because of tax issues, for me that is already an illegal transaction.