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Topic: Thank you Bitcoins . - page 3. (Read 560 times)

newbie
Activity: 12
Merit: 0
March 06, 2018, 03:21:35 PM
#11
My country exchange control is the weirdest thing you have ever seen. They are quite comfortable with you importing all sorts of junk from overseas, and paying with your credit card (via PayPal), but receiving money is a problem. Quite the opposite from what one would expect to be rational.

EFT (Interbank Transfer) is probably the best, but there are high transaction costs, so it doesn't work for small amounts - you may have to pay between USD30 to USD50 per transaction, and a fee on this side. There will also be Exchange Control paperwork on this side, you should discuss that with the bank before you go.

But I’m glad that I have bitcoins because I can send bitcoins or received bitcoins in a flash and the transaction fees is very low. You even don’t have to show your identification card like you must do at your bank.


Thta is one of the advantages of bitcoin. You can actually send and receive bitcoin even without providing your private info. However, when they will exchange or encash the bitcoin, of course they need the identification. But it will be under your government policy or rules.

He can still use the local buyers or sellers.Also ATM's are another option but ATM conversion rates and fees are usually not too good.
newbie
Activity: 72
Merit: 0
March 06, 2018, 03:16:56 PM
#10
Well we should be thankful of bitcoin existence in our lives. Without it we are nothing and without it we cannot have best source of income. Thank you bitcoin where we are able to buy what we want and even put up investment a bit. Bitcoin is such a very good blessing.
jr. member
Activity: 182
Merit: 2
dApps Development Automation Platform
March 06, 2018, 03:11:05 PM
#9
My country exchange control is the weirdest thing you have ever seen. They are quite comfortable with you importing all sorts of junk from overseas, and paying with your credit card (via PayPal), but receiving money is a problem. Quite the opposite from what one would expect to be rational.

EFT (Interbank Transfer) is probably the best, but there are high transaction costs, so it doesn't work for small amounts - you may have to pay between USD30 to USD50 per transaction, and a fee on this side. There will also be Exchange Control paperwork on this side, you should discuss that with the bank before you go.

But I’m glad that I have bitcoins because I can send bitcoins or received bitcoins in a flash and the transaction fees is very low. You even don’t have to show your identification card like you must do at your bank.


Thta is one of the advantages of bitcoin. You can actually send and receive bitcoin even without providing your private info. However, when they will exchange or encash the bitcoin, of course they need the identification. But it will be under your government policy or rules.
full member
Activity: 406
Merit: 100
BAILOUT
March 06, 2018, 02:32:15 PM
#8
But there is no regulation and more importantly there is no insurance or such so in fact using cryptocurrencies is very good and betther than eft but there is some risk.
hero member
Activity: 1190
Merit: 525
CryptoTalk.Org - Get Paid for every Post!
March 06, 2018, 02:19:27 PM
#7
That is one of the main Bitcoin's points: To nuke bureaucracy, helping each individual to have more accessibility to different kinds of goods and services, connecting people from different parts of the world and allowing them to make deals among themselves without the need of third-party services, middlemen.

Sadly this Bitcoin's advantage is going to be neutralized by many governments politics, in many cases with the approval of Bitcoin's enthusiasts.
full member
Activity: 258
Merit: 100
The revolutionary Export system/One-click Export
March 06, 2018, 02:00:27 PM
#6
I hope you send and receive them using a hardware or paper wallet, otherwise, if you use exchanges, you may need to comply with KYC regulations in the future.
Biggest plague to hit the Earth since well the Black Plague (not actually but awful still). I don't want KYC in crypto, crypto is supposed to be anonymous! I don't mind paying taxes and will do so when time is right, but KYC and AML needs to take a back seat right now no joke.
hero member
Activity: 1764
Merit: 584
March 06, 2018, 01:35:34 PM
#5
I hope you send and receive them using a hardware or paper wallet, otherwise, if you use exchanges, you may need to comply with KYC regulations in the future.

He/she might still have to send some of those bitcoins to an exchange to en cash to fiat if he need to though. Unless he can make an arrangement with someone trusted that would buy his/her bitcoins so they can transact away from the eyes of the banks/exchanges.
jr. member
Activity: 135
Merit: 1
March 05, 2018, 11:20:15 AM
#4
Sound's like the best place to open up an exchange  Wink. Jokes aside, living in the Crypto world and living in your country at the same time is a bit difficult job. Good luck, I wish you all the best.
member
Activity: 149
Merit: 14
March 05, 2018, 11:18:03 AM
#3
 I can totally relate trading in Bitcoin.
 Bitcoin has really helped me get a steady income without the chance of charge backs.
 I also trade in other cryptocurrencies but bitcoin is my main trade.
I never worry about someone contacted a bank to lie about a refund.
legendary
Activity: 1358
Merit: 1565
The first decentralized crypto betting platform
March 05, 2018, 11:14:30 AM
#2
I hope you send and receive them using a hardware or paper wallet, otherwise, if you use exchanges, you may need to comply with KYC regulations in the future.
newbie
Activity: 28
Merit: 0
March 05, 2018, 11:08:10 AM
#1
My country exchange control is the weirdest thing you have ever seen. They are quite comfortable with you importing all sorts of junk from overseas, and paying with your credit card (via PayPal), but receiving money is a problem. Quite the opposite from what one would expect to be rational.

EFT (Interbank Transfer) is probably the best, but there are high transaction costs, so it doesn't work for small amounts - you may have to pay between USD30 to USD50 per transaction, and a fee on this side. There will also be Exchange Control paperwork on this side, you should discuss that with the bank before you go.

But I’m glad that I have bitcoins because I can send bitcoins or received bitcoins in a flash and the transaction fees is very low. You even don’t have to show your identification card like you must do at your bank.
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