What difficulty do you face on trading bitcoin? - page 4.

lepbagong

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Quote from: DabsPoorVersion on August 05, 2020, 05:39:12 AM

Quote from: cheezcarls on August 05, 2020, 05:20:43 AM

Here in the Philippines, I see no difficulty in trading Bitcoin and other cryptocurrencies. It’s because Philippines is a crypto-friendly country, allowing it as payment method and trading to other cryptos or fiat conversion. It is well-regulated by the Bangko Sentral ng Pilipinas (BSP) as well and multiple VCEs also approved by them.

The only difficulty that I’ve faced in terms of Bitcoin trading is decision-making on when to buy or sell due to the unpredictable market conditions nowadays.

Does decision making really considered as a difficulty?

It comes from your own self and the only thing you need to do is to believe on what you have decided. Compared to other countries which bitcoin is illegal, decision making on whether you will buy or sell is nothing. Decision making should come from what you believe what is right and you should follow it.

What difficulty we often face is our fear. The fear to risk what we can risk. We are afraid to believe in ourself that's why you consider decision making as a difficulty wherein fear is the root of being undecided.

I am actually glad to hear from you that there is no difficulty in your country in conducting any transactions related to crypto because there are no restrictions imposed by the government. this is certainly a separate moment that should make you more confident, compared to those in the country that cannot accept crypto as a recognized exchange tool.

indeed every step with regard to finance is certainly very necessary to be done with great care, because obviously this is related to funds that may be lost or reduced which will result in the fear of loss can be greater than the benefits that might be received.

but it must be remembered that if there is no willingness to execute then we will not be able to move one step further. analysis with good reference through the information that is widely available would certainly be very helpful.
any work can be ascertained there will be a risk of living how we minimize these risks, if we don't dare and doubt then we will never learn from the shortcomings that we might get to be repaired in the future.

yazher

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Peer to peer transactions should be fine for you for now since your country has not yet awakened to realize what goodness BTC can bring to your country. The only way you can trade in good shape is when your government lifts the banned on Cryptocurrencies just like us. Since you don't have a problem with trust when trading with the other holders, you are also in good shape as well. When you don't have enough courage to trade BTC in the country like yours, you won't feel the sweetness of the market when the price is going up.

DabsPoorVersion

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Quote from: cheezcarls on August 05, 2020, 05:20:43 AM

Here in the Philippines, I see no difficulty in trading Bitcoin and other cryptocurrencies. It’s because Philippines is a crypto-friendly country, allowing it as payment method and trading to other cryptos or fiat conversion. It is well-regulated by the Bangko Sentral ng Pilipinas (BSP) as well and multiple VCEs also approved by them.

The only difficulty that I’ve faced in terms of Bitcoin trading is decision-making on when to buy or sell due to the unpredictable market conditions nowadays.

Does decision making really considered as a difficulty?

It comes from your own self and the only thing you need to do is to believe on what you have decided. Compared to other countries which bitcoin is illegal, decision making on whether you will buy or sell is nothing. Decision making should come from what you believe what is right and you should follow it.

What difficulty we often face is our fear. The fear to risk what we can risk. We are afraid to believe in ourself that's why you consider decision making as a difficulty wherein fear is the root of being undecided.

cheezcarls

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Here in the Philippines, I see no difficulty in trading Bitcoin and other cryptocurrencies. It’s because Philippines is a crypto-friendly country, allowing it as payment method and trading to other cryptos or fiat conversion. It is well-regulated by the Bangko Sentral ng Pilipinas (BSP) as well and multiple VCEs also approved by them.

The only difficulty that I’ve faced in terms of Bitcoin trading is decision-making on when to buy or sell due to the unpredictable market conditions nowadays.

20kevin20

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Quote from: Pffrt on August 02, 2020, 04:56:14 AM

Do they allow accounts from Bangladesh? I think no. Even if they do, still it's not possible because financial services from our country will never associate us on such trading, rather they will ruin me. Although I don't know what's the payment processor both of these allow.

Not sure about HodlHodl, but Bisq surely does allow you to use it from Bangladesh as well. If Bitcoin is considered an enemy (or is banned) in your country, there isn't much you can do besides trying to avoid your detection. Bisq works through TOR nodes as far as I know. You can look there for face-to-face transactions, or check out Mycelium wallet. They have a quite new feature that allows you to check for nearby sellers/buyers as well.

iv4n

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Quote from: fiulpro on August 02, 2020, 06:21:01 AM

Quote from: Pffrt on July 31, 2020, 09:23:31 AM

I'm a citizen of a country where bitcoin is illegal and there's no good way of trading bitcoin in legal way and secured way. I have been trading through the community I have built within these years but sometimes I got difficulty selling bitcoin, not much although. If you are from a country where BTC is legit, I think you are enjoying trading bitcoin. But what about the countries where BTC is illegal? Do you have any such way to trade bitcoin securely? I would love to hear the experiences, difficulty you faced/faces.

I do think Government does have their highs and lows while dealing with the cryptocurrencies as for my part , I was trading when the cryptocurrencies were legal , I was trading when they became illegal , I even traded when they became legal again , now since they want to ban it again , trust me *I will keep on trading*.

How I did it ?
- Own community network
- Making sure the wallet does not need KYC
- Have temporary resident permit of other country therefore there it was legal so did not have to worry much
- Money I made sure was deposited in the country from where I can very easily convert it into other currencies, trading I did 50% of the time in cash

-*-

I even helped other people from my home country to trade their cryptocurrencies during the illegal times without any charges to increase the adoption of Bitcoins.

-*-

Sometimes I had to pay fee 2*3 times , but even though the cryptocurrencies were illegal , the market did not stop !! It kept on growing , the Government thought they will be able to control it somehow but when they realized their efforts in banning cryptocurrencies did not work well , they stopped .

-*-

Nice comment, where there's a will there's a way! In my country there're no laws about crypto, so I didn't have such problems with legality, but if they start creating some laws, I am going underground, I am sure I will find a way to continue with all my crypto activities.
Crypto is the place where we can be free, you just need to know how to do it. And it's not some magic, it can be learned and what is learned can be applied in everyday activities. I wish you luck man in trading and avoiding government rules!

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Quote from: Pffrt on July 31, 2020, 09:23:31 AM

I'm a citizen of a country where bitcoin is illegal and there's no good way of trading bitcoin in legal way and secured way. I have been trading through the community I have built within these years but sometimes I got difficulty selling bitcoin, not much although. If you are from a country where BTC is legit, I think you are enjoying trading bitcoin. But what about the countries where BTC is illegal? Do you have any such way to trade bitcoin securely? I would love to hear the experiences, difficulty you faced/faces.

bitcoin is already legal in my country and many are starting to get involved in bitcoin trading. but for the development of bitcoin as legitimate money and can make transactions directly still not. but with the legality it doesn't make me worry for bitcoin investment.

I think you need to be patient to wait for that time. If your government finally sees the chance for bitcoin to be used as an alternative payment system, then you will see that bitcoin will be used as money/fiat. You can feel happy to see bitcoin is legal in your country while other countries still not accept bitcoin or make it legal, so they need to wait for some time to see that will happens.

ice18

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Thats not a problem mate you can convert your btc on other payment solutions like paypal Im sure its not illegal on your country, right? If still illegal then your leaders are the burden in your country digital payments are the future of money every country needs to slowly adopt this new financial system otherwise your country will be left behind.

Lorence.xD

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Quote from: Sadlife on August 04, 2020, 07:21:56 PM

In my country Bitcoin is legal i dont have any problem converting it through cash to be able to use it for payments, goods and services. My only problem is that, the third party custodial wallet has a high fee when trading or converting. Regarding with your issue, you can use exchanges that are not regulated in your country and trade it to USDT or USD if the exchange supports it, then send to paypal.

Same problem here, in my country most services and transactions are paid mainly in fiat. The third party wallet sure here gets a big cut in my country and that is just another part of the problem, there is no innovation for businesses to integrate cryptocurrency transaction to their establishment which is pretty icky in my part as a crypto user because again with the cuts from wallets. Regarding legality, cryptocurrency in my country is still in a gray area because the legislators are far too corrupt to worry about that which is pretty frustrating.

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Quote from: Sadlife on August 04, 2020, 07:21:56 PM

In my country Bitcoin is legal i dont have any problem converting it through cash to be able to use it for payments, goods and services. My only problem is that, the third party custodial wallet has a high fee when trading or converting. Regarding with your issue, you can use exchanges that are not regulated in your country and trade it to USDT or USD if the exchange supports it, then send to paypal.

How much is the fee that costs you with the local exchange? in my country, the fees are quite acceptable and it's a convenient option so that's not a problem for me.

Wouldn't be that an implication if he'll convert it to PayPal funds?

Sadlife

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In my country Bitcoin is legal i dont have any problem converting it through cash to be able to use it for payments, goods and services. My only problem is that, the third party custodial wallet has a high fee when trading or converting. Regarding with your issue, you can use exchanges that are not regulated in your country and trade it to USDT or USD if the exchange supports it, then send to paypal.

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The biggest issue I've experienced trading bitcoin thus far is lack of trust to wrap up deals. In my country, there's no ban or laws restricting citizens from indulging or trading cryptocurrencies. In spite of this, Its a little too hard to get trustable people to work with and build a network. Other minor issues is passing KYC on some of the platforms is basically impossible. Although this is manageable to an extent. Aside from these, I have no other difficulties for now.

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Quote from: Blank-Head on July 31, 2020, 09:47:24 PM

Trading on bitcoin is not so difficult if anyone makes fundamental analysis.But for me I am trying to learn because in trading I face a difficulty as I don't have much risk management knowledge.

Not just rely on fundamental analysis made by others. You should be able to understand it too, especially technical analysis which will be very important for trading bitcoin or other altcoin. it's not just a matter of guessing prices will go up or down, but you should be able to do an analysis of the market, where the market will go and what the next trend will be. Learning about capital management risk management is also important so that your trading capital stays safe and can get consistent profits.

Eugenar

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Quote from: qory on July 31, 2020, 10:11:37 AM

Quote from: Pffrt on July 31, 2020, 09:23:31 AM

I'm a citizen of a country where bitcoin is illegal and there's no good way of trading bitcoin in legal way and secured way. I have been trading through the community I have built within these years but sometimes I got difficulty selling bitcoin, not much although. If you are from a country where BTC is legit, I think you are enjoying trading bitcoin. But what about the countries where BTC is illegal? Do you have any such way to trade bitcoin securely? I would love to hear the experiences, difficulty you faced/faces.

Bitcoin illegal in your country as transaction or digital currency payment but for trading and investing almost country in the world allow it, I think the same cases with my country not available using bitcoin as payment transaction but have got allowed make bitcoin as trading or investment assets, many people could save their money in bitcoin.

Trading is really different from using it to buy goods. Well in some countries, Bitcoin and other cryptos are not yet accepted as a medium regarding online and offline services. But investment towards it would be accessible to all people around the globe The problem may arise on how can they make use of their profit from their investment. Will they be able to convert it just like the way they have invested into it?

Quote from: hatshepsut93 on August 02, 2020, 07:46:43 AM

I haven't faced any difficulties so far, but I always have these worries that if I'll try to withdrawing a large sum to my bank account, it will get frozen and I'll be asked to explain where do the money come from. And then I'm thinking, they won't like my response that I'm a crypto investor, they'll immediately suspect money laundering, etc. This is why I haven't mixed my coins, I have a feeling that it will make my coins too suspicious. And I don't want to risk with p2p trading for cash, the chance of getting scammed or robbed is too high.

Peer to peer transactions would be a good idea especially if there is a struggle making an online transaction, in particular with the legality of Bitcoin in your country. When it comes on being scammed or being robbed, checking one's profile I think, would help. Trying not to make transactions with people having less identity would somehow lessen the risk.

hatshepsut93

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I haven't faced any difficulties so far, but I always have these worries that if I'll try to withdrawing a large sum to my bank account, it will get frozen and I'll be asked to explain where do the money come from. And then I'm thinking, they won't like my response that I'm a crypto investor, they'll immediately suspect money laundering, etc. This is why I haven't mixed my coins, I have a feeling that it will make my coins too suspicious. And I don't want to risk with p2p trading for cash, the chance of getting scammed or robbed is too high.

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Quote from: Pffrt on July 31, 2020, 09:23:31 AM

I'm a citizen of a country where bitcoin is illegal and there's no good way of trading bitcoin in legal way and secured way. I have been trading through the community I have built within these years but sometimes I got difficulty selling bitcoin, not much although. If you are from a country where BTC is legit, I think you are enjoying trading bitcoin. But what about the countries where BTC is illegal? Do you have any such way to trade bitcoin securely? I would love to hear the experiences, difficulty you faced/faces.

I do think Government does have their highs and lows while dealing with the cryptocurrencies as for my part , I was trading when the cryptocurrencies were legal , I was trading when they became illegal , I even traded when they became legal again , now since they want to ban it again , trust me *I will keep on trading*.

How I did it ?
- Own community network
- Making sure the wallet does not need KYC
- Have temporary resident permit of other country therefore there it was legal so did not have to worry much
- Money I made sure was deposited in the country from where I can very easily convert it into other currencies, trading I did 50% of the time in cash

-*-

I even helped other people from my home country to trade their cryptocurrencies during the illegal times without any charges to increase the adoption of Bitcoins.

-*-

Sometimes I had to pay fee 2*3 times , but even though the cryptocurrencies were illegal , the market did not stop !! It kept on growing , the Government thought they will be able to control it somehow but when they realized their efforts in banning cryptocurrencies did not work well , they stopped .

-*-

Shasha80

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I can understand with traders whose countries banned Bitcoin, it must be difficult to sell or buy Bitcoin. But there is always
a way to overcome it, the first way you can use P2P platforms. Can also use DEX exchanges, fortunately I did not experience
obstacles like you. Because my country legalizes Bitcoin, it's easy for me to trade Bitcoin.

Pffrt

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Quote from: mk4 on July 31, 2020, 09:49:53 AM

[1] https://bisq.network/
[2] https://hodlhodl.com/

Do they allow accounts from Bangladesh? I think no. Even if they do, still it's not possible because financial services from our country will never associate us on such trading, rather they will ruin me. Although I don't know what's the payment processor both of these allow.

GDragon

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Quote from: Pffrt on July 31, 2020, 09:23:31 AM

I'm a citizen of a country where bitcoin is illegal and there's no good way of trading bitcoin in legal way and secured way. I have been trading through the community I have built within these years but sometimes I got difficulty selling bitcoin, not much although. If you are from a country where BTC is legit, I think you are enjoying trading bitcoin. But what about the countries where BTC is illegal? Do you have any such way to trade bitcoin securely? I would love to hear the experiences, difficulty you faced/faces.

My country doesn't even care about btc, there are no on going talks about it in the government as well. We can sell, buy, or use it if we want as long as we are not getting involved to other business that are prohibited by the law. My only problem is the high fees when I am getting my btc from a local wallet. Add the fact that I am really not good in trading as well.

If btc is illegal in your country, try using p2p. I think you should start knowing people in the industry too. Where are you from by the way? Maybe there are users here who also live there that can help you.

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Quote from: boyptc on August 01, 2020, 03:28:50 AM

I can't give that much stress on your problem since bitcoin is free and legal in my country.

Yeah same, that's not much of my concern as I'm living in a democrat country, we are open to all possibilities Cheesy

Quote from: boyptc on August 01, 2020, 03:28:50 AM

Quote from: Blank-Head on July 31, 2020, 09:47:24 PM

Trading on bitcoin is not so difficult if anyone makes fundamental analysis.But for me I am trying to learn because in trading I face a difficulty as I don't have much risk management knowledge.

You are addressing the concern of prrt differently to what he's asking. His country declared bitcoin, bitcoin trading or crypto trading as an illegal activity so it's difficult for him and other crypto people to do that 'not so' difficult thing you say.

That's the very OP's point, he is getting difficulty with it coz their state already make it illegal for someone to involve in any crypto trading activity, that's very unfortunate not just for you but also for your fellow crypto users. Others might think that they can still use it coz it is decentralized so they are never going to be found by the authorities, YES it could be, but still it is a risky one coz what if someone whistles you out?

My only difficulty in bitcoin is the transaction fees, as we know it gets higher when it is congested, and the network is congested when the price is surging, so I can't easily get out of the market without paying high fee.

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