Topic: Is it legal to sell bitcoin for cash ? - page 25. (Read 26809 times)
It is not highly recommended in many countries and state but they're must be an exception depending on how your country tolerating this kind of transaction. In my country those big amounts if not declared after the exchange is a red flag and may question its legality under money laundering act. As it could be suspicious when bitcoin is not well documented and not recognized by that government. So just be careful on dealing with those amount. If it necessary you can divide it for safety.
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.
Being a legendary member, you should know such basic information about liquidating your bitcoins. Yes, it is very much legal and you can covert it but make sure to check the local law related to the cryptocurrencies.
Yes, as hero members he doesn't know about how to liquidate Bitcoin and after liquidating, he needs to follow the legal regulation and Tax regulation because if you tax on your transaction then it is a legal currency.
If in your country there is no explicit prohibition on the use of bitcoins there is nothing illegal in such transactions no. In addition, such an operation is impossible to track. In my country very few people that use bitcoin. So I put the money through the exchanger to a Bank card. Even such transactions are not tracked.
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.
that is given here because we have already a exchanger that you can buy bitcoin like the wallet here in philippines but its so high if you buy bitcoin,if you say you sell in real life i think the person that you like to sell your bitcoin is no knowledge about bitcoin then teach him or her,its legal but the best is to teach him or her about to buy bitcoin Thanks for reading.
It's not legal, but legal at the same time. Just watch out when your amount gets above a certain amount where it can get suspicious.
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.
Being a legendary member, you should know such basic information about liquidating your bitcoins. Yes, it is very much legal and you can covert it but make sure to check the local law related to the cryptocurrencies.
Depending on how much you are buying or selling, it may violate local laws if proper paperwork isn't handled. You should check your local applicable regulations regarding what may qualify as 'money transmission' if you are worried.
Well if it is upto the governments BTC was never legal... so even possession of one is crime... but since there is no way for government to track down the exact ownership they are settling down with taxes that is of course if you involve bank in to your transaction... I think there is nothing wrong in selling bitcoins in cash even better trade straight with seller in BTC rather bringing in fiat in transaction at all.... If you are seeking cash for daily needs than it means you are selling small amount of btc's may be in satoshi's ... which should be ok to sell in cash
You can do whatever you want in the US with lower quantities. With higher you would just have to figure out how to report it lol.
I think only problem is taxation. Apart from that everything is fine with selling bitcoin for cash. But make sure you know the person a bit. Dont trust strangers.There is another reason to be suspicious of cash : fake bills. Getting fake bills in exchange of real bitcoins, that would be a bit ironic, but not good.
This is a legitimate operation, but if you get the money to the Bank account that the IRS will consider the money as your income. If you don't pay taxes on this amount you will automatically become a law breaker. Transactions in cash is impossible to track so the problems with the law you will not.
If it is legal in your country then there is no doubt about it. Without any doubt you can easily convert it to cash. You can do all the work including sales. You can use everyday with business and business management.
You can do whatever you want in the US with lower quantities. With higher you would just have to figure out how to report it lol.
I think only problem is taxation. Apart from that everything is fine with selling bitcoin for cash. But make sure you know the person a bit. Dont trust strangers.You can do whatever you want in the US with lower quantities. With higher you would just have to figure out how to report it lol.
I think only problem is taxation. Apart from that everything is fine with selling bitcoin for cash. But make sure you know the person a bit. Dont trust strangers.
That depend of the country you live in... the general consensus (or tradition) is "That which is not forbidden is permitted". But this isn't always the case (for example, Germany, which is the opposite -That which is not permitted is forbidden- at least stereotypically), so you'll need to check what's the legal tradition of your country, and if it is expressly in some of its laws.
Of course; this depends only on the country you live in and the legal status of Bitcoin there. Basic information about it you may find as well here: https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory
You may do so just by selling your Bitcoin to somebody else, or use an online exchanger.
Depending on the amount you wish to exchange, you later might need to present documentation that proves legality of your income; but if the sum is relatively small, it's unlikely such information will be requested.
You may do so just by selling your Bitcoin to somebody else, or use an online exchanger.
Depending on the amount you wish to exchange, you later might need to present documentation that proves legality of your income; but if the sum is relatively small, it's unlikely such information will be requested.
This depends maybe on the country. In my country is sell my bitcoin through localbitcoins and I am paid directly to my bank account, and there is no trouble from my bank.
You should be good with that amount. Just do it in a safe place and be safe. You never know what kind of people might show up
It can only really work if you have a good amount of cash stashed away and you meet up somewhere secure to exchange. What a world this is lol
You can do whatever you want in the US with lower quantities. With higher you would just have to figure out how to report it lol.
Yes and why not? If you feel uncomfortable doing that then you can try and find and local exchanges on your place and convert it your local cash.
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