Topic: Is it legal to sell bitcoin for cash ? - page 17. (Read 26809 times)
Anyone has an idea about weather the gains made are capital gains? If so i guess one doesn't have to pay tax after 3 years i guess on profits/
So are you saying that instead of buying BTC to outlets, they buy it to you?. If that so , i think its ok because in my country, its just a way of lowering the charges, and lessen the fees. Just make it sure that the amount of conversion is just right for the both parties.
if talking about the legality of bitcoin transactions may be in my country is still unclear because so far every bitcoin transaction that i have done has never experienced a problem, although currently the government in my country has drafted a law on ban bitcoin transaction. but I hope the government in the country i will consider the Law
In our country they consider converting of bitcoin into cash. Also the wallet I used in bitcoin are using exchange, from cash to bitcoin and from bitcoin in to cash. In addition converting of bitcoin in to cash is not against the law in our country but it not means that this digital currency are legal. Maybe all crypto currency needs is to follow the rules and regulations of our country. 
Two things important first how much you want to sell second the laws of the country, against the laws of the country where the judgment was made before making a correct decision.
The laws are unimportant as there are no countries that have banned the ownership of BTC. You can't be punished for trading cryptos. In some countries you can't open an exchange, because you won't be able to register it with the authorities, but still there are no countries where bitcoin transactions are being watched and penalized. In other words, you can sell your coins for cash all around the world... for now.
Why don't you use normal exchange and get Fiat? It is legal everywhere then and you won't be accused of money laundering...
I think the concept of selling the bitcoin for cash is common practice allowed by the government and the law.
It is just like a concept of selling stocks and securities in the stock market which they gain more money from it.
I agree with you. Bitcoin is a great investment asset, I think bitcoin transactions (selling bitcoin for cash) must remain in government and legal protection. It is just like a concept of selling stocks and securities in the stock market which they gain more money from it.
if talking about the legality of bitcoin transactions may be in my country is still unclear because so far every bitcoin transaction that i have done has never experienced a problem, although currently the government in my country has drafted a law on ban bitcoin transaction. but I hope the government in the country i will consider the Law
yes offcource it is legal to sale BTC for cash if you need money then you have to present your BTH for sell.
It is very legal in here our country so yes but I don't where you are from.
I think the concept of selling the bitcoin for cash is common practice allowed by the government and the law.
It is just like a concept of selling stocks and securities in the stock market which they gain more money from it.
It is just like a concept of selling stocks and securities in the stock market which they gain more money from it.
Never knew it yet at all from the one of the country which's informs that selling bitcoin for cash.. it's not legal or banned by the country's government.
I don't think it would be banned, and I think.. this doesn't includes any bad impacts on the country's economic system or disturbing to banking's system.
In my country, it's still allowed.. and there's no law banniing that selling bitcoin to local currency would be subject to punishment.
I don't think it would be banned, and I think.. this doesn't includes any bad impacts on the country's economic system or disturbing to banking's system.
In my country, it's still allowed.. and there's no law banniing that selling bitcoin to local currency would be subject to punishment.
ya, it is , many people who want to spend bitcoin spend in this way by converting into local fiats because of lack of retailers , if there is any website or app in your country that helps you to sell it according to your country price and if it is TRUSTED , you can sell it no issues.
Ripple is the darling of banks, who are enemies of bitcoin!
It makes international transfers from one currency to another take no less than 4 seconds with huge cost cuttings.
It makes international transfers from one currency to another take no less than 4 seconds with huge cost cuttings.
When there is no law that bans bitcoin in your country, then you can sell your bitcoin even if there is no law that legalizes it. But if you use your bitcoin for illegal purposes, then that is against the law. What government can do for bitcoin or any other cryptocurrency is to regulate transactions and give permit to exchanges to make their operation legal.
It depends on how your community or your country regulate bitcoin usage but here in the Philippines trading is Legal and supervised by the BSP(banko sentral ng pilipinas).
Here in the Philippines, there are no rules or regulations pertaining to cryptocurrency which is why there is nothing wrong with having it exchanged or sold for cash. I think most Filipinos who earn Bitcoins would most likely have it converted if they don't store it for an investment. This action defeats the purpose of Bitcoin or any cryptocurrency, but since the use of it is not really popular or developed here in our country, then I guess people think it's more practical to have it exchanged to put a value to it.
Using exchange they were easy to convert our bitcoin in our own currency but make sure that the sites or wallet you choose have a good background to prevent hacking or scamming of account. Aside from that even the bitcoin is not totally legalize in each country I'm sure that crypto currency can't do the prohibited policy of all nation.Therefore even bitcoin is adopted by many country developers of this project can't abuse the rules and regulations of each country because if they do this I'm surely banning of all ICO's and bitcoin will possibly to happen.
Here in the Philippines, there are no rules or regulations pertaining to cryptocurrency which is why there is nothing wrong with having it exchanged or sold for cash. I think most Filipinos who earn Bitcoins would most likely have it converted if they don't store it for an investment. This action defeats the purpose of Bitcoin or any cryptocurrency, but since the use of it is not really popular or developed here in our country, then I guess people think it's more practical to have it exchanged to put a value to it.
It's legal if you're in a country that doesn't have any regulation about cryptocurrencies or if they have regulation but it is supporting bitcoin. There are also peer to peer trades where you can sell your bitcoin for cash just look at https://localbitcoins.com/ just choose the country you are residing and for sure there are people browsing on that LBC's country page you posted.
Yes, It is legal to sell BTC in cash. But it also depends upon your country’s law as there are few countries like Bangladesh, Nepal, and Morocco etc. where sale or purchase of bitcoin is illegal. So you would behind the bars if you caught doing any kind of trade in BTC. If we look at the percentage of those countries where bitcoin is illegal than its percentage is very less. And developed countries countries like Japan, US, new-Zealand has shown really positive approach towards it.
Yes it is 100% legal. It just like the concept of buying and selling of stocks/shares in the stock market; wherein you will buy stocks and sell it in the higher price.
It is a common practice in this kind of industry since you can gain more profit from it.
It is a common practice in this kind of industry since you can gain more profit from it.
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