Topic: How do I use Bitcoin in a country that it is banned? - page 3. (Read 596 times)
If you don't want problems with your bank account, then trade for cash or use payment methods that won't enforce your country's crypto ban - PayPal, Venmo, foreign banks. Trade only with people who have good reputation, otherwise you might get scammed and police won't help you, and be wary that undercover cops could be posing as traders. And don't talk about Bitcoin with anyone, not your friends or your family, because words travel far and it can attract law enforcement.
What are your suggestions for me and other beginners/users that are in this condition but want to participate in the technology and benefits that Bitcoin brings over the banks and government interference?
Bitcoin was created to become a decentralized digital currency, there is no third-party need and even the government can't stop or interfere with Bitcoin.So purchasing is also made on decentralized exchange and this becomes possible on P2P exchange which you can buy and sell Bitcoin in your country. You can't use it publicly in your country as a currency like in a coffee shop or having Bitcoin ATM machines but you can invest or trade Bitcoin using decentralized platforms.
Are the most common p2p exchange where you can buy Bitcoin even though it's banned in your country.
but I read that many have had their bank accounts banned, especially when there is a huge inflow..
Just buy a little by little and don't use a big cash inflow. 
Using cryptocurrency in Nigeria is not very much welcomed but trading it is a different story. As much as you ain't doing anything illegal with it, your good. A crypto trader won a case against a government agency some months ago by providing all the necessary evidence to ensure his earnings were legitimate.
Speaking of which, where most of the issues come up wth bakns and traces is in the feedback on a successful trade. The feedback you give is where the problem comes from and the CBN in particular aren't in support, being the issuers of fiat currency and the banks are a direct subordinate to the CBN.
Speaking of which, where most of the issues come up wth bakns and traces is in the feedback on a successful trade. The feedback you give is where the problem comes from and the CBN in particular aren't in support, being the issuers of fiat currency and the banks are a direct subordinate to the CBN.
This same question has come across this community severally, but nevertheless any questions deserve an answer to it. If your country doesn't accept cryptocurrency and especially bitcoin theirs every tendency that you will make use bitcoin in such country and especially when you are trader. because from my view many countries has not legalised cryptocurrency and especially bitcoin as legal tender but still it operate successfully with bitcoiners with any problem, if you trade on your house you not any issues with government
Well I am from a country that has banned Crypto-currency as a whole so I can probably tell you from experience how I do it, but first you have to understand that not even the government can stop the complete usage of Crypto-currency amongst its citizens
Firstly
#Avoid buying using crypto-currency on government affiliates even if there is an option to do so.
You are saying that your government has banned cryptocurrencies, but there are still government affiliates that accept crypto? That sounds unlikely to me. What country are you from and what government affiliates are accepting crypto? Firstly
#Avoid buying using crypto-currency on government affiliates even if there is an option to do so.
No government can ban Bitcoin, they can only ban themselves from the network. In Nigeria as a case study, the government restricts banks from engaging in crypto transactions, so you can not directly fund an exchange account from your bank account. But if you were to trade directly with anyone, the bank would not know the source of the funds received.
• Only trade with decentralization, P2P platforms,
• If you're in a really hostile country to Bitcoin, then it might be advisable to relocate, if that's an option,
• Document all your transactions and the source, should you ever need to prove you didn't do anything illegal.
Taking Nigeria as an example, the most suggested approach is through P2P, it is working well, but I read that many have had their bank accounts banned, especially when there is a huge inflow, or the amount becomes much in its accumulation with time without a good explanation for it.
Accounts can be suspected and restricted if it suddenly starts receiving huge inflow of cash, not necessarily related to Bitcoin. If you trade P2P, tracing the source of the funds would be through thorough investigations, or if it was included in the transaction details.What are your suggestions for me and other beginners/users that are in this condition but want to participate in the technology and benefits that Bitcoin brings over the banks and government interference?
• Use self custody as much as possible,• Only trade with decentralization, P2P platforms,
• If you're in a really hostile country to Bitcoin, then it might be advisable to relocate, if that's an option,
• Document all your transactions and the source, should you ever need to prove you didn't do anything illegal.
They can ban the usage, the operations of exchanges in their countries but they have no full control over the individuals that will keep on transacting with the use of bitcoin.
We can have that thing about banning that they're all just talks because they can't really enforce that to the people as there are countries that banned bitcoin yet, many still can trade on P2P exchanges and can also gain access to the centralized exchanges through virtual private networks.
We can have that thing about banning that they're all just talks because they can't really enforce that to the people as there are countries that banned bitcoin yet, many still can trade on P2P exchanges and can also gain access to the centralized exchanges through virtual private networks.
legendary
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Speaking about Nigeria, you can still buy and sell bitcoins in Nigeria safely even with the ban still in place, all the user have to do is take some precautions during sending money and also letting those who will be sending you money take the same precaution.
And such precaution is ~ to not include any pointer to Bitcoin or cryptocurrencies in your reference box while sending money or paying for crypto services, and also let those who are sending money to you for your crypto services take the same precaution.
Once you are able to keep to this rule, I believe you are safe to transact in bitcoin without government or banks interfering.
And such precaution is ~ to not include any pointer to Bitcoin or cryptocurrencies in your reference box while sending money or paying for crypto services, and also let those who are sending money to you for your crypto services take the same precaution.
Once you are able to keep to this rule, I believe you are safe to transact in bitcoin without government or banks interfering.
What are your suggestions for me and other beginners/users that are in this condition but want to participate in the technology and benefits that Bitcoin brings over the banks and government interference?
How you can trade Bitcoin safely without any issues with banks.Ensure you don't use any crypto related words while making payments in fiat currency to buy Bitcoin both you and your trading partner.
.Ensure your transaction doesn't involve cents/kobo let it be in a round figure when during transfers.
.When you go to the bank to do some transaction never disclose to them that your involved with Cryptocurrency trading because in some cases they might ask you what you do for a living or your source of income.
legendary
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Govt/country can ban an exchange, ban a centralize (custodial) wallet but they can't ban your non custodial wallet of course. As long as you are using a non custodial wallet, there's nothing can country/govt do.
I'm from a country where any kind of crypto activities is illegal but still I'm investing in crypto specially in bitcoin. If you are using p2p, you can use mobile banking too. Don’t you have such option in Nigeria?
I'm from a country where any kind of crypto activities is illegal but still I'm investing in crypto specially in bitcoin. If you are using p2p, you can use mobile banking too. Don’t you have such option in Nigeria?
Well I am from a country that has banned Crypto-currency as a whole so I can probably tell you from experience how I do it, but first you have to understand that not even the government can stop the complete usage of Crypto-currency amongst its citizens
Firstly
#Avoid buying using crypto-currency on government affiliates even if there is an option to do so.
#only deal in Crypto-currency with fellow crypto enthusiast.
#Be careful on centralized exchange: there were rumors that government creates fake accounts to track people who are involved in crypto-currency. I rather prefer using peer to peer that involves the use of privately own wallet.
Firstly
#Avoid buying using crypto-currency on government affiliates even if there is an option to do so.
#only deal in Crypto-currency with fellow crypto enthusiast.
#Be careful on centralized exchange: there were rumors that government creates fake accounts to track people who are involved in crypto-currency. I rather prefer using peer to peer that involves the use of privately own wallet.
What are your suggestions for me and other beginners/users that are in this condition but want to participate in the technology and benefits that Bitcoin brings over the banks and government interference?
In Nigeria, as long as you do not take bitcoin and other crypto P2P trading towards business level, you are fine. In my opinion. Bitcoin is implicitly banned in Nigeria, because the government are mute about it while only CBN is against it. The people that are still turning it to business means can find their bank account blocked, but bitcoin is not illegal to be traded among people in Nigeria.
There are some countries like China, two to four countries in white African countries (the Northern Africans) and some other countries in the world, which totalled 14 countries as at last year that totally banned bitcoin and other Cryptocurrencies. But China makes it known that bitcoin can not be totally banned because of its decentralized design. But it would have been better if bitcoin is not banned in these countries.
This is not to preach lawlessness, yet the fact remains that there are many countries' governments that are less informed about Bitcoin and the benefits therein, thereby depriving their citizens of these benefits. But the good part is that some of these countries do not ban the accessibility and domains of crypto wallets and exchanges, which makes it possible for anyone to disregard the government and use Bitcoin, but carefully.
Taking Nigeria as an example, the most suggested approach is through P2P, it is working well, but I read that many have had their bank accounts banned, especially when there is a huge inflow, or the amount becomes much in its accumulation with time without a good explanation for it.
What are your suggestions for me and other beginners/users that are in this condition but want to participate in the technology and benefits that Bitcoin brings over the banks and government interference?
Taking Nigeria as an example, the most suggested approach is through P2P, it is working well, but I read that many have had their bank accounts banned, especially when there is a huge inflow, or the amount becomes much in its accumulation with time without a good explanation for it.
What are your suggestions for me and other beginners/users that are in this condition but want to participate in the technology and benefits that Bitcoin brings over the banks and government interference?
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