Can Bitcoin be sold for cash? Tutorial on selling Bitcoins for cash

The purpose of many investors’ Bitcoin transactions is to obtain profits. Therefore, when the price of Bitcoin rises, investors want to convert their Bitcoins into cash for use. Especially in some countries and regions, Bitcoin cannot be used as currency or retrograde payment, so people prefer to use legal currency to pay bills or purchase goods in daily life. And with the gradual improvement of the market supervision system, investors are not sure whether the current Bitcoin can be sold for cash? As of now, it's okay. The editor below will tell you in detail.

Can Bitcoin be sold for cash?

Bitcoin can be sold and exchanged for cash. This operation is mainly carried out on exchanges such as Eureka and Binance, and the operation method is simple. The following is how to sell Bitcoin and exchange it for cash on Eureka exchange. Cash tutorial:

1. Open the official website of OKX Exchange (click to register), enter your email address on the homepage, click "Register", slide the slider to the right, complete the puzzle for verification, and then enter the verification code received by email. The verification code is valid for 10 minutes

2. Then enter your mobile phone number, click "Verify Now", and enter the six-digit verification code received on your phone. The verification code is also valid for 10 minutes

3. Select Country/region of residence, check the Terms of Service, "Risk and Compliance Disclosure" and Privacy Policy and Statement

4. Create a password that must be 8-32 characters in length, 1 lowercase letter, 1 uppercase letter , 1 number, 1 symbol, such as: !@ # $ % and other conditions

5. After logging in to the account, find the "User Center" icon on the homepage and enter the identity authentication page

6. Yes Different levels of authentication are carried out according to different needs (note: video authentication needs to be operated on the APP)

7. Click "Transaction" on the homepage - "Coin" to enter the transaction page

8. Search Enter BTC in the box, select the BTC/USDT trading pair, and you can see the real-time market price of BTC

9. Enter the amount of BTC to sell, and click Sell BTC to exchange it for USDT

10. Click [Buy] on the homepage Coin] - [C2C Buy Coin]

11. Click [Sell] on the [C2C Transaction] page, select [USDT] as the currency, select [USD] as the legal currency, and select [Bank Card] as the transaction method, which means using a bank card. For transactions, you can also choose other methods, choose the appropriate merchant and click [Sell USDT]

Is it illegal to sell Bitcoin and exchange it for cash?

Selling Bitcoin or other cryptocurrencies for cash is not illegal per se in most countries, and the buying and selling of cryptocurrencies is a legal business activity in many countries. When conducting cryptocurrency transactions, you need to comply with local laws and regulatory requirements. Some countries may have certain regulatory requirements for cryptocurrency exchanges, brokers, or individual traders, such as real-name authentication, tax returns, etc.

換取現金所得的比特幣應該是合法獲得的，不能來自於非法活動或洗錢行為，一些國家對於資金來源的合法性有嚴格的監管要求，有些國家對於加密貨幣的交易行為有一定的監管措施，例如對交易規模、頻率等進行監管，需要了解相關法律法規，確保自己的交易行為合法遵守。

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