Is it legal to sell bitcoin for cash ? - page 8.

Woolles890

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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.

Where do you live in which country? Because of the free use of Bitcoin depends where you live. If in my country this is not legal and very forbidden. But I do not understand the rules of your country about Bitcoin. Do not be haphazard to sell Bitcoin with cash. Because if you are wrong in taking a step, of course, it will affect the development of Bitcoin in the future.

asraaf8687

newbie

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in our country is not really a problem, in fact we do not have any applicable laws against bitcoin or regulations not yet applicable to those currencies. We do whatever we want but within our own judgment if it is right or wrong to expect because the deals being discussed are made by my colleagues, most of the bitcoin currency community in our place, maybe it's strict regulations from government agencies.

asraaf8687

newbie

Activity: 105

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In large parts of the countries, it is legal to sell bitcoin appropriately, but at a certain price, I may think 15-20 000 dollars per year. if you buy and sell bitcoin on a regular basis you should of course set up activities by finding a license will require to apply the KYC procedure for your customers to pay taxes

yecats

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Activity: 395

Merit: 14

Quote from: FUD Expert on May 20, 2018, 06:54:42 AM

For legal matters, sell it only on accredited exchange so you know what is okay and what is not. If you can't find a single one that exists then I'm pretty sure that bitcoin is either banned or treated as a scam in your country.

This the best thing to do if you want to sell bitcoin, Just do what's legal.

InterFinex_JB

newbie

Activity: 42

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It is basically depends on what country you are in. Some countries it is legal. Some may need to pay taxes and with maximum amount of bitcoin to sell and they need a trading license before selling.

preelee04

newbie

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Legality of bitcoin depends in our countries and a lot of country nowadays seek bitcoin as a threat to the cash flow system. But a lot of country as well are fine with this since they are okay with the opportunity of cryptocurrency.

Levious

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In some countries, bitcoin is defined as a commodity or a virtual item. If your country does not have relevant laws governing the trading of virtual items, I think that you are legal to do so.

okissabam

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I dont think its illegal because I know some who does that. And it is your own discrepancy if you want to sell your bitcoin in exchange for cash. We all need cash thats why some ventured to trading their savings money so they can gain profits and will eventually withdraw them when they need it in cash too.

LegendzX

newbie

Activity: 62

Merit: 0

For cash? I think it depends on where will you going to make transaction. If you are making transaction through online local exchange in your country and your government allows it to exist that is legal but if what you are trying to say is selling it directly to a person and in your country doesn't allow someone to conduct it because of tax issues, for me that is already an illegal transaction.

auliasilvana

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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.

If I personally, of course, this is not legal and certainly very prohibited. If I violate it I will be sanctioned. This is done in my country. But I do not understand the rules that exist in your country. Maybe you can understand it first all the rules in your country that concerns about Bitcoin so you are not wrong in taking action.

Farahtenan

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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.

If you live in my country, of course, this is very illegal and prohibited. If you are certain you will be subject to sanctions. I do not dare to sell Bitcoin I have with cash. But I do not know if in your country the rules are like. Maybe you should first understand the rules that exist in your country. Do not take the wrong action.

labhsikh123

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In most countries, it is legal to sale for cash. But you will have to pay tax and follow the rules and regulation of concern country.

FUD Expert

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For legal matters, sell it only on accredited exchange so you know what is okay and what is not. If you can't find a single one that exists then I'm pretty sure that bitcoin is either banned or treated as a scam in your country.

Lang09

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Activity: 350

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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.

Legality of things depends on the existing law or rules of the country with regards to a certain matter. if there is a law or rules with regards to selling we should abide with it to be legal..if there is non then there is still a rule that should be followed an that is the rules of norms.

cryptorocket84

newbie

Activity: 104

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Sometimes am so surprised that some people still face problems with whether or not it is legal to sell bitcoin. Do you need anybodies permission to take your bath? the answer is NO! why then do you need someones permission to sell your bitcoin?. Please find out how people sell theirs in their country and apply the same method i believe it will work for you.

Temujhin

newbie

Activity: 129

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yes maybe in various countries there is already legitimate or legal to be able to sell bitcoin with cash, but in my country still can not do that, because the legalization status of btc was still in talk

ruthbabe

sr. member

Activity: 966

Merit: 275

Quote from: spikerrr on May 18, 2018, 01:51:29 AM

As far as I know there is no such law about illegality if you buy or sell bitcoin in actual real. I think that is safer too.

There are 195 countries in the world today and of that figure, around 30 countries where usage of Bitcoin is legal. So, if you live in a country that prohibits cryptos, such as Bitcoin you might be violating laws and I don't know where you can cash out that amount... OP says the mount is close to 3-4K. So, I presumed it's Bitcoin and it's quite a big money, and I'm certain banks will not allow you to withdraw it but instead, they will bombard you with questions.

Sandeep24

newbie

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If you are exchanging / purchase Bitcoins in your local currency then no one can be arrase any question about your transaction because it is in cash.

spikerrr

newbie

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As far as I know there is no such law about illegality if you buy or sell bitcoin in actual real. I think that is safer too.

tambok

sr. member

Activity: 812

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Legality of bitcoin depends in our country, a lot of country nowadays seek bitcoin as a threat to the cash flow system but a lot of country as well are fine with this since they are okay with the opportunity of cyrptocurrency, they are aware of it and they find this kind of technology a way big help.

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