Topic: bitcoin investment - page 2. (Read 179 times)
The best step is not to pursue the addition of that option to accept crypto payments, your friend should just buy bitcoins secretly because as you've said, it's illegal there and I don't know if it's purchasing of bitcoin or ownership that's illegal so the best thing is to keep it secret. If that friend would be in danger because he's going to reveal his bitcoin ownership by doing that then it's a risky maneuver and in no way in all the possibilities that it's the best thing to do.
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If it's South Asian country like Bangladesh or Pakistan where Bitcoin is banned, he is likely to destroy himself by accepting Bitcoin as a payment method. Corruption is rocket high here. Almost every other government employee knows about Bitcoin and they even use Bitcoin for their benefits. But, when they want to destroy someone's life, they accuse them of being a Bitcoin user. Which is illegal and Bitcoin users could be considered as criminals because of that.
I often see news like where a group of people were arrested because they were buying selling crypto. They get arrested under money loundering law and then they tie up many others law like they were buying selling drugs with crypto etc etc. The government are always negative about crypto. So, I would suggest not to use crypto in public at all.
I often see news like where a group of people were arrested because they were buying selling crypto. They get arrested under money loundering law and then they tie up many others law like they were buying selling drugs with crypto etc etc. The government are always negative about crypto. So, I would suggest not to use crypto in public at all.
According to your information Bitcoin is illegal in the country where your friend lives. Since Bitcoin is illegal in your friend's country, your friend may be in danger if he openly uses Bitcoin. Since Bitcoin is illegal in your friend's country, use Bitcoin secretly. Your friend has a second hand mobile shop and you ask him to focus on that business and carry on with other activities including investing secretly. It is better for him if he invests bitcoins in secret because if these things become known your friend may get into legal trouble. If ever bitcoin is legalized in your friend's country he can trade bitcoins directly but for now it would be a good move for him to stay away from these things.
im very excited to share about one of my friends condition.
he lives in an asian country where bitcoin is not legal to government.
he invested in bitcoin and he owned a second hand motorbike shop.
now he wants to dealing with crypto for his shop.
in this circumstances what should he do or which step best for him.
expect better suggestion from good people
I think you guys have to share how you evade such reatriction aince you said it is illegal on your country to invest in Bitcoin. Isn't it a suicide if your friend deal with crypto for his shop? I am a bit confused here OP so please enlighten me. he lives in an asian country where bitcoin is not legal to government.
he invested in bitcoin and he owned a second hand motorbike shop.
now he wants to dealing with crypto for his shop.
in this circumstances what should he do or which step best for him.
expect better suggestion from good people
~Snip~
If Bitcoin isn't legal in a country or is banned in a country then one should never accept Bitcoin payments directly from others. I would advice you to suggest your friend to not accept Bitcoin or crypto-currency dealings if they're not allowed by government. Any time if authorities get information about his shop then they might take strict actions against him. If he has invested in Bitcoin then that's not an issue he should hold that investment and if he wants to invest more in Bitcoin he can do that as well, but he should never share details about his wallet or investment details with anyone. 
If your friend is a true crypto lover and wants to get crypto accepted in his work shop, the best advice I can give him is to move over to a crypto-friendly country, which will be the best thing for him to do, and that's where he can get his customers who will be willing to pay in crypto, because in his country, where it's not accepted, both he and those who ever want to patronize him using crypto as a method of payment will share the same faith.
Your friend should not break the law in his country. If bitcoin is not legal and there is a punishment like jail time for it or whatever, tell your friend not to break it. The anti-bitcoin governments are ready to make a scapegoat of defaulters. He shouldn't be overzealous. Best thing he could do now is to DCA and HODL. Selling his and receiving payment can be done via P2P and on a decentralized platform. This is what other people in countries with similar law do.
First, you already said crypto is not legal in the country where your friend has his workshop, which means any advice or means that he wants to make use of in order to start accepting crypto is going to be illegal. I don't think anyone here is going to teach your friend how to break the law of the country. If the law catches him up, he will see those who give him that advice as bad influence and also a crime accomplisher.
If your friend is a true crypto lover and wants to get crypto accepted in his work shop, the best advice I can give him is to move over to a crypto-friendly country, which will be the best thing for him to do, and that's where he can get his customers who will be willing to pay in crypto, because in his country, where it's not accepted, both he and those who ever want to patronize him using crypto as a method of payment will share the same faith.
If your friend is a true crypto lover and wants to get crypto accepted in his work shop, the best advice I can give him is to move over to a crypto-friendly country, which will be the best thing for him to do, and that's where he can get his customers who will be willing to pay in crypto, because in his country, where it's not accepted, both he and those who ever want to patronize him using crypto as a method of payment will share the same faith.
You said bitcoin is not allowed in your country. He has nothing to do than not to accept bitcoin or any other crypto as payment. He can continue to use fiat. If he wants to convert to bitcoin or any other crypto, he know the way he is doing it before and that is what that matters. But as for selling his bikes, he should only accept your local currency than to do what may pay him in problem.
im very excited to share about one of my friends condition.
he lives in an asian country where bitcoin is not legal to government.
he invested in bitcoin and he owned a second hand motorbike shop.
now he wants to dealing with crypto for his shop.
in this circumstances what should he do or which step best for him.
expect better suggestion from good people
he lives in an asian country where bitcoin is not legal to government.
he invested in bitcoin and he owned a second hand motorbike shop.
now he wants to dealing with crypto for his shop.
in this circumstances what should he do or which step best for him.
expect better suggestion from good people
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