Topic: Is it legal to sell bitcoin for cash ? - page 27. (Read 26809 times)
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.
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.
Converting Bitcoin to cash is just one of the most normal things to do within the cryptocurrency sphere and without its exit I think people will be thinking twice in being a part of the Bitcoin bandwagon. In my country, we can easily do that within minutes and the money (the local fiat money) can be withdrawn in an ATM machine.
Now, I am wondering: Is it difficult to convert your Bitcoin to cash where you are right now? By the way, are you required to pay some tax for the capital gains?
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.
It would depend on which country are you from. Of course if bitcoin is prohibited in your country then its illegal but if its not prohibited then I think it would be fine to sell your bitcoin for cash. Some countries have taxes on it and some don't have. In my country, we are free to do what we want with our bitcoin as long as its not involved with illegal or gambling activities because if the platform where we exchange our money detect that the bitcoin we received is from a gambling site for example, they would suspend our account and let us explain why we gamble when its illegal to do so. To get away with it, sometimes other people send first their earnings from gambling to their other wallet and sending it again to that platform's wallet in order for the account not to be suspended.
In germany its legal but you have to pay tax. If you dont pay tax you will probably get some trouble
In most of countries, it's legal to sell bitcoin for cash , but from a certain amout ( i think 10-15 000 dollars per year) or if you regulary sell bitcoin ,you have to regulated your activity by getting a license, you will need to apply KYC procedure to your customers and pay taxes
AFAIK it's legal. The only country that used to have a problem with that was USA and people were getting arrested for transmitting money without a licence, something that's not even required anywhere else. In the EU you can keep selling bitcoins in the street and as long as you have a street trading licence and don't forget to pay your taxes you're fine.
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.
Like the earlier poster, depending on the his free the financial system of the country is configured. Over here, 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 and clients don't really bother much on the legality only if their needs are met
What is the status on the legality of bitcoin and crytpocurrency in your country? In my country, it is perfectly fine to do so. A local exchange wallet allows us bitcoin users to easily have our bitcoins exchanged into our local currency, and we may retrieve this through remittances or have it transferred directly to our bank accounts. I don't see anything wrong with selling your bitcoins for cash, unless the mere possession of bitcoin is considered to be illegal in your country.
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.
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