Topic: Is it legal to sell bitcoin for cash ? - page 11. (Read 26809 times)
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.
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.
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 =)
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.
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.
Depends on how your country behaves towards cryprocurrencies. If it is legal - you can do it, I think
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. Thanks for reading.
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.
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. Thanks for reading.
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.Thanks for reading.
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
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.
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.
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. Thanks for reading.
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.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.
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
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. Thanks for reading.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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