Bitcoins to cash tips helps on how to withdraw money from bitcoin in Nepal

Nepal Rastra bank officially declared bitcoin illegal in Nepal

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Bitcoins to cash tips helps on how to withdraw money from bitcoin in Nepal

Bitcoin is illegal for local use in Nepal. The chief of the Nepal Rastra Bank has made it clear through a notice. As the money is not traceable the dealing in such money has been made illegal. Except for a notice issued by the Nepal Rastra Bank, there have been no laws formulate in this regard. However, the law agency has termed dealing in bitcoin as money laundering and will be treated like that. The matter is being studied for further action.

Bitcoins to cash tips helps on how to withdraw money from bitcoin in Nepal
Bitcoin illegal in Nepal – Notice of Nepal Rastra Bank

History Of Bitcoin In Nepal
Bitcoins first started worldwide in January 2009. In Nepal, bitcoin mining started in 2011. Mining of the cryptocurrency still continues in Nepal. However, there is no published list of those mining bitcoins in Nepal. They remain anonymous like the currency itself.
Using Bitcoin In Nepal
If you are wondering how to withdraw bitcoin in Nepal, there are no exchanges at present where you can withdraw the bitcoin. After the central bank has declared the currency illegal all the exchanges have been shut down. But bitcoin wallets and mining are still active as these don’t become illegal activities.
However, there are some e-commerce sites which will allow you to purchase items in their store using bitcoins. You can even purchase bitcoins from this site if you are interested.
Bitcoin Nepal publishes rates for bitcoins and other cryptocurrencies on its website. But, even they don’t do a direct conversion of bitcoins to Nepal Rupee vice versa.

Some of the restaurants in the Thamel area are supposed to be accepting bitcoins. Some of the people who had visited the restaurants also confirm this. However, it is not written anywhere that they accept bitcoins in Nepal.
This means that there is no place where you can really exchange bitcoins Kathmandu Nepal and get Nepali rupee. This is probably due to the notice published by the Nepali Rastra Bank mentioning it as illegal.

What can you do with bitcoins in Nepal?
If you are looking for tips to buy & sell bitcoins in Kathmandu Nepal, you can certainly buy and sell them online. But you won’t be able to use them except for online transactions to buy something or pay for some service in Nepal.
The newspaper reports say that the central bank has said they don’t permit anyone to do any business with bitcoins. However, it is almost impossible for anyone to control the buying or mining of bitcoins or selling them online from anywhere. But it may not be possible for anyone to use it for their expenses while they are in Nepal.

I think given tips about Bitcoin In Nepal helps you that it is illegal in Nepal there are not any way To Withdraw Bitcoin In Nepal legally. Nepal Rastra bank officially declared bitcoin illegal in Nepal. It is not possible to withdraw money from bitcoins wallet to bank account in Nepal.

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