Is it legal to sell bitcoin for cash ? - page 21.

Mr. Thang

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Activity: 110

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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.

Yup it is legal for as long as you are not transacting any illegal stuff related to it. I also think that there are some wallets out there that support this kind of transaction, by making your bitcoins withdrawal for cash in an ATM machine provided by a specific bank (this is highly dependent on the wallet that you are using). Also, you must take note that selling your bitcoins to cash involves a trade which is very risky when done in the internet. I highly suggest that you meet-up with your trader in order to avoid any loses and regrets.

shohelalam

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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.

Its Legal. I don't think so you have any problem to sell bitcoin by cash.

Its Doesn't Matter how Many bitcoin you want to sell. But some country's need some requirement to exchange license for big volume.

You can sell bitcoin by cash anytime but if your country have any legal issues about bitcoin that's time you have to follow procedure.

You pay tax and sell bitcoin by cash if your country legalize bitcoin.

coin_1122

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Quote from: Almat on October 26, 2017, 04:14:38 AM

It is, but only if you do not make a consistent business out of it. Turning that into a business technically makes you an exchange, and you are going to need a business permit.

As long as you are doing legal transaction and paying taxes to the government will leads to legal transaction because even though Bitcoin is not legal I am paying taxes on my transaction to the government.

eCrypto

newbie

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I think that bitcoin is illegal in some country's like China and asia in general.
You have to ask a lawyer to get the right details. Also Selling the bitcoins in black market may create some problem although.
Ask before doing something.

margrettco62

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Activity: 98

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Quote from: 12tribes on October 26, 2017, 03:24:48 AM

I'm so sure you or someone paid to buy bitcoin. So it is no problem when you need to sell. Peace

BUt how can you meet? and how do you know that they are trustworthy? Moreover if you exchange bitcoin in country where was not accept bitcoin you can get trouble about the law. However, in some countries you are easy exchange bitcoin although bitcoin still is banned.
Example In my country bitcoin is illegal but many people are mining bitcoin, exchange and a lot of exchange website where you can easy sell bitcoin for cash.

Valzzz005

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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.

For me yes it is as long as your country are not banning it. Like for example in our country, bitcoins are highly acceptable especially in the bank. We this one bank that accept bitcoins in exchange with cash and with just a single tap of the mobile devices we can know get that cash that came from bitcoins so we do need to sell our bitcoins because we can easily convert it into cash. But if your country doesn't have that, better check it on some establishment if it is legal to sell bitcoins, but I know it is legal, you just need an approval to the higher order.

bitcoinmagneto

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It all depends upon the country you are living in.Some countries have legally accepted it but some countries are treating it as a banned thing like earlier USA tried to arrest people who were trading their bitcoins and in some countries like texas you only need street license to sell bitcoin on the street. So before trading or cashing the bitcoin make sure to check the legal status of it in your country.

Almat

sr. member

Activity: 254

Merit: 250

It is, but only if you do not make a consistent business out of it. Turning that into a business technically makes you an exchange, and you are going to need a business permit.

12tribes

member

Activity: 378

Merit: 11

I'm so sure you or someone paid to buy bitcoin. So it is no problem when you need to sell. Peace

bryant.coleman

legendary

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My opinion is that unless the authorities specify that converting BTC to fiat is illegal, it is a 100% legal thing to do. You don't need permission from the authorities to do freelancing work. And you don't need permission from them to sell your digital goods. However, you may need to pay taxes on any revenues, which may arise from such sales.

denny27

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★Bitvest.io★ Play Plinko or Invest!

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 do it friend, I think it's legal.. because as far as I know most of all countries's goverments hasn't warned that selling bitcoin to cash is forbidden, so it's fine I guess. In the country where I live there is no warning is forbidden to selling bitcoin into cash (local currency), it can still to do until now without says banned.

Suckhoelaodong

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Ofcourse, why not?

Hexah

sr. member

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Well it is on your buyer if he/she want it anyway in cash and I think you should have contract between that thing because that is big amount of money to be done. Legality also affects to that one also because if its not legal for the particular country you are into it would really hard to sell that one since not that so many can get what bitcoins you have right into your wallet amd the buyer couldn't gain also if he/she would do so.

Macukica

newbie

Activity: 35

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It s legally in most countries only to pay taxes Undecided

KSHMR

newbie

Activity: 259

Merit: 0

It depends on your country. Here in my country is okay selling bitcoins for cash.

corroze

sr. member

Activity: 602

Merit: 254

I think it depends on each country's policy on bitcoin transactions, because even if bitcoin legality is still illegal in my country but there is no prohibition for bitcoin transactions either for sale or for the purchase of bitcoin but of course there is a nominal limit. has been determined if a financial transaction exceeds a predetermined capacity will certainly need information on financial sources by the banking

MadScienceSocks

newbie

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This may depend on the country in which the exchange takes place.In many countries you have to pay a tax if you have bought something over 2K-3K dollars. In my opinion it is better to transfer in cash for no more than 1K dollars.

coin_1122

full member

Activity: 1134

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Yes, we can convert your Bitcoins as long as if there is an exchange in your country because directly it is not possible to covert into local currency but for that you need to pay taxes for Bitcoin conversions.

savushkinTA

full member

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It depends on the country. In my country it is legal

Scytic

member

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it really differs from country to country, for instance in the Netherlands bitcoin at the moment is tax free as are the profits gained from it, in Austria you for instance pay a tax of 50% over winnings when claimed within one year of the transaction. Exchanging BTC to EUR is free upto 700€

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