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Topic: when they say crypto's are "banned" in other countries outside USA what's that? (Read 247 times)
July 28, 2019, 11:02:18 AM
February 28, 2019, 05:23:53 AM
If a country pronounce ban on cryptocurrency, I think what it means is that it has become illegal to continue with cryptocurrency in that country and if found on it, the person will be punished for it. Also, the country on her part will do everything possible to restrict practice on it , including internet restriction.
February 28, 2019, 05:21:26 AM
My country is neither for nor against bitcoin, you simply just trade at your own risk. Am okay with this, the government doesn't want to bear any responsibility. If I were in a country that bans bitcoin, I will just be using decentralized exchanges or I won't perform KYC, I will keep my trade low and stick to 24hrs maximum withdrawal without KYC. In as much as possible I would avoid exchanges that deals with KYC.
February 28, 2019, 05:14:29 AM
If you're within a jurisdiction that doesn't allow the use of crypto at all, I'm fairly sure the exchange won't let you purchase coins. They might not even let you register. This could cause them headaches down the line, kind of in the same vein of some ICOs not allowing US investors to buy in, with some of them even implementing IP filtering.
That being said, anything is possible if you don't get caught. You can freely use any VPN to gain access to certain exchanges and use them normally. It only becomes a problem when you're found out. Implementing bans over the internet is very hard to pull off in practice, so it should be fairly easy to get away with anything related for as long as you know what you're doing.
That being said, anything is possible if you don't get caught. You can freely use any VPN to gain access to certain exchanges and use them normally. It only becomes a problem when you're found out. Implementing bans over the internet is very hard to pull off in practice, so it should be fairly easy to get away with anything related for as long as you know what you're doing.
February 28, 2019, 04:48:50 AM
There are actually certain states in the US that most likely have some sort of restriction on bitcoin transactions on a state level due to the fact that I see some states being singled out in the ToS of bitcoin exchanges. So it's definitely a worldwide thing.
In most cases it concerns gambling. Coinbase for example will suspend your account if you send funds to a gambling site, and they have pretty sophisticated tools to exactly know what gambling site you're sending funds to. It still happens that it catches people by surprise, but they should know that at least within the states, Coinbase is very tight with its policies.
It always has been one of the bravest exchanges in the space, so unless you're a total newbie and don't read the terms before registering, you should be aware of this.
February 28, 2019, 04:39:42 AM
When they said a country have banned cryptocurrency what it really is that the government does not recognized cryptocurrency as a legal tender and at that it taking measures to curtail all cryptocurrency activities because it seen as illegal activities, but in at that one can use some other means to take part in cryptocurrency activities but in doing you have to be careful and use software that can hide your identity.
February 28, 2019, 03:32:21 AM
As a long-term goal we should overcome this paradigm. If you find a way to ban crypto, be sure that we'll find a solution - but it shouldn't work like this. By banning, I believe states want to hide internal problems. When your hear banning, it sounds like something bad; illegal - but it's a huge differencee between illegal and bad.
February 28, 2019, 12:11:14 AM
When they say countries banned these bitcoins, what happens when you log into Binance or Coinbase from the banned countrY?
No access somehow? Why not use a VPN and access exchanges that way?
or TOR browsers
Confused what it means to "ban" coins because I am in the USA.... any inputs??
It is illegal to use cryptocurrencies in those countries from my view of point. For example, let's take online gambling banned by many countries for protecting cash flow to foreign states. Using a VPN is a temporary solution, what will happen if a person gets caught by officials? No access somehow? Why not use a VPN and access exchanges that way?
or TOR browsersConfused what it means to "ban" coins because I am in the USA.... any inputs??
February 27, 2019, 11:03:56 PM
when they say crypto's are "banned" in other countries outside USA what's that?
99% of the times it is called spreading FUD (fear uncertainty and doubt). because it usually is a lie.Quote
When they say countries banned these bitcoins, what happens when you log into Binance or Coinbase from the banned countrY?
it depends on whether they have actually banned bitcoin or was it a lie and also what kind of "ban".there are a lot of different cases. when it is a lie (FUD) then nothing happens.
when it is banks banning their users from using exchanges (like India) nothing happens, you can still continue using exchanges but you won't be able to transfer fiat with those banks, so you have to change banks.
in rare cases (like 2 or 3 countries) that the government has actually banned usage of bitcoin, going to exchanges and trading with bitcoin can have consequences depending on the laws of that particular country which you need to research case by case.
Quote
No access somehow? Why not use a VPN and access exchanges that way? or TOR browsers
that could work as long as those exchanges don't ask for any KYC stuff you can freely use VPN or TOR and connect and enjoy using them. or TOR browsers
February 27, 2019, 10:55:17 PM
VPN is a workaround, though your requirements and documents for KYC cannot be tampered with, and some of these exchanges comply with other governments' regulations and rules regarding cryptocurrencies so I guess VPN is not a long-standing solution. Moving out of the said country with restriction in trading cryptocurrencies is still the best bet.
Sooner or later, I think Coinbase or other exchanges will ban VPN address to. The next solution would be P2P trading, which might take time and effort to make a deal.
It's sad that to be able to use crypto we have to move from our country, that cost me more than what crypto give me if that ever happened.
February 27, 2019, 07:58:36 PM
Banned because their governments don't recognize the legitimacy of trading cryptocurrencies in their own state-issued currency, or they simply don't want to mess with cryptocurrencies just yet. Just look at China and India with their stance on bitcoin and cryptocurrencies in general.
VPN is a workaround, though your requirements and documents for KYC cannot be tampered with, and some of these exchanges comply with other governments' regulations and rules regarding cryptocurrencies so I guess VPN is not a long-standing solution. Moving out of the said country with restriction in trading cryptocurrencies is still the best bet.
No access somehow? Why not use a VPN and access exchanges that way? or TOR browsers
or TOR browsersVPN is a workaround, though your requirements and documents for KYC cannot be tampered with, and some of these exchanges comply with other governments' regulations and rules regarding cryptocurrencies so I guess VPN is not a long-standing solution. Moving out of the said country with restriction in trading cryptocurrencies is still the best bet.
February 27, 2019, 06:19:29 PM
You don't have to think of it if you are in a free country.
I would however think of it when comes the time my government will start banning. I have some accounts to different exchanges so if it means the exchange will also ban me from using the exchange it would mean my funds are locked. That would be a horrible thing to happen to someone.
But I suppose Binance was up when china banned BTC?
And about China, AFAIK they didn't ban bitcoin but they banned ICO's. People there still hold bitcoin and they aren't afraid of using it.
(https://cryptonomist.ch/en/2018/08/28/ico-ban/)
(https://www.coindesk.com/chinas-ico-ban-understandable-reasonable-probably-temporary)
February 27, 2019, 04:52:18 PM
When they say countries banned these bitcoins, what happens when you log into Binance or Coinbase from the banned countrY?
No access somehow? Why not use a VPN and access exchanges that way? or TOR browsers
No access somehow? Why not use a VPN and access exchanges that way?
or TOR browsersi'm pretty sure connecting through TOR would make an exchange nearly unusable. it's also liable to get your account flagged for security review, what with the constant changes in login location.
i don't think exchanges really care about "banned" countries anyway. these countries like algeria and bolivia are in no position to come after binance.
binance only cares if your country is on a sanctions list. if so, i'm not sure VPN or TOR would save you. there are various possible privacy leaks in these protocols, and you could just get hit with an account review and have KYC demanded from you anyway.
February 27, 2019, 04:41:05 PM
If the USA bans bitcoin, It will probably not happen overnight and be a giant surprise....
February 27, 2019, 04:34:09 PM
When they say countries banned these bitcoins, what happens when you log into Binance or Coinbase from the banned countrY?
To simplify it let's remember what happened in China when Bitcoin was banned, all trading platforms operating in China moved to another country or closed.So those affected by this ban are the countries in which the platform or BTC-linked businesses are located, not the network as a whole.
The risk to individuals is small if you use a well-designed wallet.
February 27, 2019, 04:08:49 PM
In most countries the government is yet to decide about bitcoin and the legacy of it in their country and that's because they have thing more important to that than concerning about bitcoin right now since it's not used by such a big number of people. I'm not sure, but I think some countries have stated their intentions regarding bitcoin and cryptocurrencies and that's why some platforms have also banned those countries firm using them. If you are in a country where bitcoin is not seen as a good thing then you might have problems when you complete transactions with banks that are related to bitcoin because your bank account could be blocked. That's why some websites do not allow people from certain countries to register.
February 27, 2019, 04:04:42 PM
The main problem on this even you can access cryptocurrency which is banned on a certain country!
You will be in trouble once they questioned your money transactions.
Like in USA, your money is being track on your bank on where it is from or where did you earned it.
You will be in trouble once they questioned your money transactions.
Like in USA, your money is being track on your bank on where it is from or where did you earned it.
February 27, 2019, 03:38:09 PM
When they say countries banned these bitcoins, what happens when you log into Binance or Coinbase from the banned countrY?
No access somehow? Why not use a VPN and access exchanges that way? or TOR browsers
Confused what it means to "ban" coins because I am in the USA.... any inputs??
No access somehow? Why not use a VPN and access exchanges that way?
or TOR browsersConfused what it means to "ban" coins because I am in the USA.... any inputs??
It's there law so I think as long as you don't broadcast your identity as a bitcoiner in the public, no one will question you to the police. And fortunately, VPN's are invented. Because of it, internet browsing has lead to more private use. So, if some governments do really want to ban crypto, they should cut the internet itself, which is almost impossible to implement.
February 27, 2019, 03:20:26 PM
When they say countries banned these bitcoins, what happens when you log into Binance or Coinbase from the banned countrY?
No access somehow? Why not use a VPN and access exchanges that way? or TOR browsers
Confused what it means to "ban" coins because I am in the USA.... any inputs??
No access somehow? Why not use a VPN and access exchanges that way?
or TOR browsersConfused what it means to "ban" coins because I am in the USA.... any inputs??
It's in their country's legislation. It doesn't necessarily mean that they aren't able to access it.
Most of the time, I don't think you even need a VPN to access bitcoin and facilitate transactions on the network. But while you are doing this you risk legal repercussions. Same thing applies to international exchanges which potentially have ceased to offer their services to the banned states/countries.
There are actually certain states in the US that most likely have some sort of restriction on bitcoin transactions on a state level due to the fact that I see some states being singled out in the ToS of bitcoin exchanges. So it's definitely a worldwide thing.
February 27, 2019, 03:14:10 PM
You don't have to think of it if you are in a free country.
I would however think of it when comes the time my government will start banning. I have some accounts to different exchanges so if it means the exchange will also ban me from using the exchange it would mean my funds are locked. That would be a horrible thing to happen to someone.
But I suppose Binance was up when china banned BTC?
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