(How to) monetize gains if coin is traded on Coinsbit only

[Legendhasit]

Hi again,

I am a US citizen and thinking about transferring a portion of my wallet to Coinsbit; the only exchange this particular coin trades on.  As a US citizen I am prohibited from any cash withdrawals because they do not accept US documents as a form of verification, which would then allow me access to the funds.

Anyone run into this issue or have any suggestions around it?

[khaled0111]

I am facing the same problem. I have a coin on my wallet that is only traded on Coinsbit. I was unable to verify my account although I sent them all required documents.
What you/I can do is to find someone trusted who have a verified account there and ask him to help or just wait for the coin to get listed on another exchange.
If it is an ERC20 token, try your luck and check if it is traded on DEXs like forkdelta.

Edit: I just read the other thread you created and noticed that JeromeTash proposed the same thing.

[pooya87]

the only exchange this particular coin trades on.  As a US citizen I am prohibited from any cash withdrawals

is it only "cash withdrawals" or any kind of withdrawal?
because if you can for example withdraw bitcoin then you can easily dump the shitcoin for bitcoin and then withdraw bitcoin instead and then you can use any other decent exchange to sell bitcoin.
this is a lot safer than trusting someone else to do it for you! the cost should also be the same since you have to pay that person too.

[RapTarX]

Don't know what's wrong with Coinsbit, they are not allowing a lot of countries to trade their. I recommend you try selling on the forum marketplace, if you are lucky, you may get a good deal. Offer a little discount than the current market price.
Or you can find someone who is from other country and have already verifed their account. Use an escrow to ensure safe deal.
This is really stupid that this coin you are reffering to is only listed in one exchange.

[Coyster]

This is really stupid that this coin you are reffering to is only listed in one exchange.

I think the coin OP is talking about is one of those new ICO coins that just got listed, they usually get listed on one exchange for a start and either die off on the exchange or manage to list somewhere else.

I wouldn't support allowing someone else from a different country to withdraw your coins for you, you should try and hold the coin for sometime to see if they'll get listed on another exchange that'll be easier for you to withdraw, afterall there is a high possibility that the coin may be worth nothing right now.

I think there are ways to make money on the trading platform. You can use margin, trade or stake transactions there. I am using the Binance platform, I make money every day there, be wise and always know that the higher the profit, the greater the risk!

I think you're in the wrong thread, look and read the OP again!

[Legendhasit]

Thanks everyone. The coin is currently on coinsbit and will be added to p2pb2b next week.  Two other exchanges are also expected in the coming months. I plan to hold until a better chance xchange but was looking for info in case I had to liquidate for some reason.

Appreciate all the responses!