Yes its Legal. But you have to pay little amount of tax and its important. I don't see anything wrong with it. If you google it you'll find a lot of website selling and buying bitcoin in cash. In most of the countries of the world, there is no option of buying directly with bitcoins and people have to first convert it into fiat and then spend.
Topic: Is it legal to sell bitcoin for cash ? - page 26. (Read 26809 times)
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.
Yes in most of countries its legal to do so while other do not specify it as neither legal nor illegal as they have no law regarding it. But yes make sure to show any gains from this security in your Income tax Returns or whichever direct tax your country has otherwise it will become black money. Thanks for reading.
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.
No government defines Bitcoin as legal or illegal tender....Thanks for reading.
so you can trade until you can. Bitcoins can be turned into dollars (or other hard currencies) by selling them on a Bitcoin exchange. The exchanges operate in a manner that is similar to a stock exchange, as users offer to buy and sell Bitcoins in exchange for a particular currency.
As Bitcoin grows in popularity, questions about the legality of selling Bitcoins may arise in other jurisdictions, prompting lawmakers to decide whether the statutory definition of money should be broadened to include Bitcoins or not.
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.
its probably legal as long as your above 18 years old and knows what your doing as you see most bitcoin wallets has come with built in exchanger and cash out options for easy transactions so in the first place why would they put it if its illegal to sell your bitcoin or converting your bitcoins to cash? and what do you think is the purpose of bitcoin ? bitcoin is a currency just like money so it is used for buying and selling.
in my country, there is not yet statement from government about bitcoin is legal or not. but if we want to use bitcoin for anything we want, then it is our risk even if the price is up or down. i think bitcoin is still in grey side in many country which is not yet giving approve for bitcoin and they allow people to use bitcoin until now.
I think there is no inconvenient situation in this business, there is no rule that should be taken, many people used this method in the past, there are still people who use it.
It depends if it is bitcoin legal or ilegall in your country.In my country bitcoin is completely legal so I can withdrawal my bitcoins anytime and we also have already ATM at many cities and we will get them even in more cities.My favorite way to withdrawal btc is to send it to skrill and then to my local sportbetting site and then little play sportbetting and then withdrawal my money so if it is illegall in your country you can try with this way.
In France this is not illegal. The problem is that you then must keep that cash and/or spend it. If you go to your bank with thousands in cash, questions will be asked, flags raised, etc. Unless maybe if you're the client of a private bank that help rich people get away with murder.
I am really surprised a Legendary ranked member is asking this question. But to answer your question yes it is completely legal to sell your Bitcoin in Cash in most countries that is as Bitcoin won't even have a fiat currency equivalent if it is not allowed to be converted or sold into paper money. Also government approved cryptocurrency exchanges show that Bitcoin can be exchange to cash without you violating any law. I guess the only problem that you will be facing is if you are a trader and you don't count your Bitcoin earnings into your annual income report.
selling is perfectly legal,but you may need some documents to
prove the source of your income later (it depends on a country you are living in)
because if you,suddenly,will try and purchase a mansion for one million dollars cash
some agencies may take interest in you
other than that I would not bother
prove the source of your income later (it depends on a country you are living in)
because if you,suddenly,will try and purchase a mansion for one million dollars cash
some agencies may take interest in you
other than that I would not bother
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 is legal or not it was depend on your country. Many of country treat bitcoin as illegal and some of the country neither support it nor against bitcoin. But if our country accept it then it will be very profitable for us. Thanks for reading.
I think it's normal such as in my country, Bitcoin is not legalized in here but there are about nearly 100 BTC exchanged into cash everyday but nobody have to go to jail for it of course nobody have to pay tax for the government too )) Don't worry dude 
Just do it 
)) Don't worry dude Just do it
I can't imagine what is happening in a country that is regulating those kinds of transactions. But in my country we don't have any hesitation or doubts on doing it publicly. It must be that we are an opened country from modern technologies and new ideas of investments mechanisms. It is been a practiced of my colleague to do that because it can bypass fees on exchange wallet locally. By the way, were don't have a law for or against cryptocurrency.
Yes, it is legal in most of the countries. If you are liquidating limited coins, then there should not be any problem. But for the transaction of huge amount, you might have to follow local rules and regulations.
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.
I think that the limit is somewhere around 12K per year in the United States (can vary from state to state). So I can assure you that it is perfectly legal. But you need to check the tax implications as well. Please consult a chattered accountant, to know whether the profits from Bitcoin sales are classified as capital gains or as ordinary income. If it is the second category, then be ready to pay as much as 39.6% tax on the overall profits (on top of the state-wide income tax, if you are living in states such as CA or MN.
Yes, I have never heard that someone got arrested for selling bitcoin. In my country, there are still no regulations that are implemented because bitcoin is still unknown to many of my citizens so at this moment selling bitcoins is legal.
In germany its legal but you have to pay tax. If you dont pay tax you will probably get some trouble
You don't necessarily have to pay tax on Bitcoin sales. There's a tax-exemption on capital gains from Bitcoins that have been
In the US, I think you probably need a money transmitter license for larger volumes, so be careful with that kind of stuff.
In my country that is not really a problem,, even we don't have the law about bitcoin and regulations is not still implemented.. We're doing anything we desire but in limititations of our own judgement if it's right or wrong.. That transaction that your talking about is made by most of my colleagues in bitcoin community in my place.. So it might be on the governments strict regulations..
Probably legal, I do not see anything strange that could make such a thing illegal. Most of the answers here are also legal, meaning many think that selling bitcoins with cash is legal. I do not know for sure, but it seems legal.
Like someone have rightly said, it depends majorly on the type of country over here, even though the country government have not made their position known, I have seen several entrepreneurs owning shops where they buy and sell e-currency and no one is disturbing them because even the law enforcements agencies probably don't have any idea about what they are doing and they are making their money without engaging in anything illegal.
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