Is it legal to sell bitcoin for cash ? - page 18.

jaylhynne018

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Quote from: erpbridge on September 08, 2017, 01:05:32 AM

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.

i think its legal because its like a money changing and bitcoin is a currency its like a dollar when i have a dollar i change it to money of my country it is like selling right? so its a legal to sale a bitcoin to money!

semarmesem195

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Quote from: erpbridge on September 08, 2017, 01:05:32 AM

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.

Do you sell it online or face-to-face? In my country if it's sold online and in large quantities, that's considered illegal if it's known by the government. Therefore if your country still consider illegal bitcoin and you want to sell it many, my advice do with face to face don't do online. If you want to sell it online then you have to sell it a little bit at a time, it aims to avoid government suspicion.

ApocalypseNow

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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.

sangwookie

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Put it all on the line and go for broke

I think you should do it on a boat or a cruise therefore you are not bound by the laws of any country.

haha.

mharz

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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.

lionscoin

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migolmigol

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I think this is based on the legality of your country. In my country, the Philippines, it is perfectly legal to sell Bitcoins for cash. It is actually part of trading and if you want to be sure and be safe, you can file your income per year and pay tax. However, many traders do not really file and pay income tax because it is impossible for the government to track your earning and transactions. Unless maybe if your earnings are reallly big.

Hamphser

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Quote from: Thanasis on November 26, 2017, 09:09:45 AM

Quote from: erpbridge on September 08, 2017, 01:05:32 AM

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.

Yeah,it is absolutely legal to sell bitcoins for cash,it is illegal if your country banned that bitcoin.But some countries having limitations for cash trading like $2000 is the highest value you can trade with direct cash if your amount is more than that amount then you have to get through banking transaction.The limitations maybe vary for different countries so you have to google it to find the limitations of your country.
But in my country doing these kind of trading is absolutely legal.

Limitations would really vary and the thing you should focused on is on the limitations of the exchange on where you would decide to sell of your coins and the banks on where those funds would be transferred. Speaking on person to person sell up its still legal the main concern here is that if you country does prohibit bitcoin transactions then you would really be have problems on that one but yet we can still able to evade it since cashing out or converting bitcoin to fiat is simple without being traced up.

BitcoinIsTheAnswer

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If you don't tell anyone about you'r sale I don't see why you should be getting into any problem at all.

marcbitcoins

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Quote from: erpbridge on September 08, 2017, 01:05:32 AM

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.

You could sell it anytime, any where and to anyone as long as bitcoin is not declared illegal in your country anyway the ending point will be the last owner of that bitcoin who want to convert it to fiat still they will gone through local exchanges and pay the service fees, transaction fees and bitcoin tax if there is imposed policy. You could sell it specially if you will sell it in a cheaper price than the market price.

NetDetective

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Quote from: erpbridge on September 08, 2017, 01:05:32 AM

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 were are you located and the based legislations of the country.
Probably if your on the UK or US you have to do the proper paper work, taxes and all.

Arkham Knight

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Quote from: ember.suc on December 01, 2017, 08:43:42 AM

Each country has different laws on the permitted legal services non-qualified people or companies can provide. You will need to do a country by country research to determine the local rules, depending on where you want to establish your business.

Right. It's possible that you will be able to know that because it will make news and it will spread everywhere. Like here in us, I can sell it legally but bitcoin is now making noises in national tv and the government are now discussing on what to do with it.

ember.suc

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Each country has different laws on the permitted legal services non-qualified people or companies can provide. You will need to do a country by country research to determine the local rules, depending on where you want to establish your business.

hugeblack

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Quote from: erpbridge on September 08, 2017, 01:05:32 AM

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.

Best & cheap way is to hold bitcoin till your country make selling legally.
also, you can use this site to get some users in your country can 1:1 Buy from you.
last way use escrow service and exchange your BTC for payeer, prepaid cards,..........etc

btc-facebook

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Quote from: rasl.curt on November 28, 2017, 02:50:31 AM

Selling bitcoin isn't quite as straightforward as buying bitcoin, but fortunately CoinDesk is here to help. This guide will give you all the information you need to cash out your digital currency. When deciding how to sell your bitcoin, you first need to consider which method best suits your situation: selling bitcoin online or selling bitcoin in person. Each option has its own advantages and disadvantages.

It would be better to sell trusted exchanger rather than person because if you sell it to the people, they already become the second party so if you sold bitcoin to people, you may being charged for their % fee so although you're sell into exchanger, they just applied smaller fee !

bitfocus

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It depends on your Government. or else, Bitcoin trading is completely legal. But maybe the Tax Collectors will knock your door for some extra, hahaha.

rasl.curt

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Selling bitcoin isn't quite as straightforward as buying bitcoin, but fortunately CoinDesk is here to help. This guide will give you all the information you need to cash out your digital currency. When deciding how to sell your bitcoin, you first need to consider which method best suits your situation: selling bitcoin online or selling bitcoin in person. Each option has its own advantages and disadvantages.

Thanasis

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Quote from: erpbridge on September 08, 2017, 01:05:32 AM

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.

Yeah,it is absolutely legal to sell bitcoins for cash,it is illegal if your country banned that bitcoin.But some countries having limitations for cash trading like $2000 is the highest value you can trade with direct cash if your amount is more than that amount then you have to get through banking transaction.The limitations maybe vary for different countries so you have to google it to find the limitations of your country.
But in my country doing these kind of trading is absolutely legal.

MCVXYZ

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Quote from: erpbridge on September 08, 2017, 01:05:32 AM

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.

From a legal point of view I think that this relationship looks like purchase agreement,You sell things that do not have conflict with the law,Bitcoin does not comprehend the general principles of justice but does your country have special norms about this? “It is an item of the market”. You can sell eveything wich is not prohibited and wich is an object of free market.so you need to read your states legislation.but as i know The European Union has not created legislation. For bitcoin as a currency and i have never heard international agreement about this.despite this you should read every Legislative amendment about this.

Vastraint

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Quote from: erpbridge on September 08, 2017, 01:05:32 AM

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.

Just like others said, it will depend on your country. But do you mean transferring it to another account in exchange for money in actual action transaction. But why selling it for cash where you can convert it to cash and cash it out? Is it to make everything easier?, they're almost the same isn't it? I just don't get the point! Undecided

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