Topic: Is it legal to sell bitcoin for cash ? - page 22. (Read 26809 times)
In business it is considered that everything that is not forbidden is legal. Therefore, if the state did not directly issue a ban on exchanging the crypto currency for local money, then such an operation would be quite legitimate. It should also be borne in mind that along with the recognition of crypto currency legal tender, the state usually establishes a profit tax on crypto currency. Non-payment of taxes in most countries is considered a crime and is punishable by criminal procedure.
In my country it's illegal but all of people who know about crypto)) sell it
if I want to engage in such activity, all I need is to build a website with a gateway to a bank account and with that anyone can log in, make order and either sell or buy and I won't be disturbed by any agency of violating the rule and that's how our system is so flexible.Yes, it is very much legal and you can covert it but make sure to check the local law related to the cryptocurrencies.
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.
If bitcoin is not ban in your country then i think that is ok because bitcoin transaction cannot be track any way then you will going to be paid in cash directly and personally by the buyer. This will be in favor of the buyer especially no service fees and transaction fees to be collected but if you will be collecting fees then that is wrong and no one will buy bitcoin to you except if your bitcoin is cheaper than the regular value in the market.
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.
If bitcoin is not ban in your country then i think that is ok because bitcoin transaction cannot be track any way then you will going to be paid in cash directly and personally by the buyer. This will be in favor of the buyer especially no service fees and transaction fees to be collected but if you will be collecting fees then that is wrong and no one will buy bitcoin to you except if your bitcoin is cheaper than the regular value in the market.
It's legal to sell bitcoin for cash, in most countries. Anyone can sell bitcoin to get cash.
People buy and invest bitcoin, the reason is to get money and profit.
Sadly my government still not legalize bitcoin yet so I hope they will legalize on the future.
People buy and invest bitcoin, the reason is to get money and profit.
Sadly my government still not legalize bitcoin yet so I hope they will legalize on the future.
What is the status of Bitcoin legality in your country? If Bitcoin is legal by law of your country, then you can sell street and bitcoin and as long as you have a street trading license. And if the government declares Bitcoin illegal then why can not you sell it anywhere on the street.
No. It is just not known yet and also not banned. If you heard that in your country that some people were arrested because of selling bitcoin or buying bitcoin then you should think twice but if it isn't then you are free to do so. Check if you have your own local exchange because it's much easier to sell/convert btc to fiat.
This is totally dependent upon the factor that in which country one lives. There are few countries out there, where it is considered illegal to trade Bitcoin for cash but on the other hand countries which favor Bitcoin out-number to those which are against it, there are many countries which support Bitcoin transactions and have introduced proper tax system. So, that user can cash out Bitcoin without any fear. If you want to know particularly about your country, then try to mention that in the thread so that you can find your perfect answer. Some of the countries where it is totally fine to sell Bitcoin for cash are USA, South Korea, Australia and Japan; also one should note that these are only among the list.
The exchange of bitcoin for cash will be legal until the state has established a tax on this financial transaction. If this is done, then such an operation without paying a certain amount of tax will be illegal. Therefore, in this issue, first of all, it is necessary to find out whether the tax on such exchange has been established or not established.
No specially if your country does have a wallet for bitcoin that allows exchanging bitcoins into fiat, so technically they would not exist if selling bitcoin for cash is illegal. But if there are provisions on tax of trading bitcoins with realized gain on your country you should declare appropriate amount and pay the assessed tax so that the transaction will be legal. Good thing here in the philippines there is no imposed tax on any activities in crypto currencies.
Depend on your country if bitcoin legal you can Directly exchange it if not you must use third way like paypal or spectrocoin or ............
Yes of course bitcoin selling for cash is legal because bitcoin is also a currency but digital and not regular paper currency, but one can use bitcoin anywhere in the world like paper currency. He can buy anything all over the globe with his bitcoins. If we buy bitcoin for cash then why should we not sell bitcoin for cash? I think there is no problem of illegality to sell bitcoin for cash. I deal bitcoin as a regular currency. 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.
Well it depends on your country, basically we can sold our bitcoin for cash easily specially to people who also use bitcoin. If you can convert your btc into fiat money much better so you don't need to look for people who want to buy your btc.
So far I have never had a problem selling bitcoins to exchange fiat currencies, though the bitcoin legality in my country is still not legal but it can not really affect the bitcoin transaction for cash in exchange. and to do that exchange, I always use localbitcoin in an attempt to make a purchase or make a sale.
It depends on the country that you are living and the coin-based wallet that you are using. If your wallet contains several options to convert your coins to cash, or online bank transfer, then it is a sign that converting your coins to fiat is legal. I have never heard of a country who prohibits selling of bitcoins to cash while allowing bitcoin transactions since it totally defeats its purpose. Fortunately, my bitcoin wallet provides various options and choices on how do I want to convert my coins into. I can even buy online gaming credits or transfer my funds online without the hassle of going to the banks.
Depend on your country if bitcoin legal you can Directly exchange it if not you must use third way like paypal or spectrocoin or ............
It really depends on the acceptance of Bitcoin in your country. In our case in the Philippines, selling Bitcoins through our address provider itself is fast and easy. And I think it would just be fine for the next years to come also while the trading activities happening are not yet that big.
But if the selling of Bitcoins will be in large numbers or you intend to sell in a regular basis, then it is better to be registered as a licensed and official trader for Bitcoin. This is to avoid penalties or legal actions from the government.
But if the selling of Bitcoins will be in large numbers or you intend to sell in a regular basis, then it is better to be registered as a licensed and official trader for Bitcoin. This is to avoid penalties or legal actions from the government.
Bitcoin is just an instrument and how it can be used whether for good or bad depends so much on the user. It is just like the gun...we can use it to defend the land or we can use to harm ourselves. Whether Bitcoin can lead to more corruption or not...that question has been answered long time ago because money has had been in existence for so many centuries. .
Bitcoin can never totally stop corruption as we know that humans can be so creative in finding ways and means to do what we want to do. Limiting the instrument will not stop corruption.
Will money leads to corruption or rather exacerbates corruption as we know it? Yes and no...this is depending on the person or people involved and depending on the situation.
Bitcoin can never totally stop corruption as we know that humans can be so creative in finding ways and means to do what we want to do. Limiting the instrument will not stop corruption.
Will money leads to corruption or rather exacerbates corruption as we know it? Yes and no...this is depending on the person or people involved and depending on the situation.
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.
If you are in the United States, the IRS website has some explanations of the relevant regulations to bitcoin transactions. You will need to figure out your "basis" in the BTC (ie. how much you spent on it in the first place)
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.
Legalities are jurisdictional because it depends on the laws of where you are a citizen or a subject or where you reside in. So, to ask me if it is perfectly legal to sell Bitcoins for cash is subjective because it depends on which your country or State you are in. But I myself is selling Bitcoins for cash if the price is right. Meaning, I do not sell it at a discounted rate because I do not need its equivalent yet. That goes without saying that I sell it at a very promising amount.
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