US bitfinex users where are we headed

[olowshinenine]

So I like using bitfinex because it has a great charting tool and you can use margin and lending accounts. Since they are banning US users. Where are current US users going to head as an alternative?

Or will US users be able to connect via a VPN?

Let me know your thoughts.

[eckmar]

Well as far as i know they required ID verification before in order to raise limits of your account. Idk what they require now but if it's smth like that VPN won't help you

[Xavofat]

Or will US users be able to connect via a VPN?

Probably not a good idea.  Slipping up once in a while or accessing from devices without VPNs could be a serious problem.  Plus if you comply with KYC laws (which you have to if you want to deal with fiat when Bitfinex starts handling it again), they will know you're from.

Where are current US users going to head as an alternative?

GDAX offers margin of up to three times on BTC trading as long as it's under $10,000.  Right now I can't think of an exchange with high leverage for high amounts.

[olowshinenine]

Do most traders not use margin?

Anyone from this forum care to share where they are going to continue trading?

[onurgozupek]

Announcement says that they are leaving US market. Using VPN will not be a solution if you are an US citizen. You won't be able to withdraw. Soon or later there will be more exchanges leaving the US because of potential risk of taxes for cryptocurrency exchanges.

Use Waves Decentralized Exchange instead. I know it's still in development but if the market cap raises, team will have to work harder...

[Pe4kin]

In the US, very strict tax laws.
Extremely illiberal criminal law.
The banking system is very tightly working with the tax authorities.

The government wants to control absolutely everyone.

This situation seems to savagery, even for China.
If the US wants to exploit the people and the business? They will have to exploit living only in their country.
The rest of the world they simply say - to invent all sorts of laws for his country.

The rest of the world will work as they are profitable.
Do nothing more people like to pay taxes to the American government.

[alyssa85]

Do most traders not use margin?

Anyone from this forum care to share where they are going to continue trading?

You can do margin trading on GDAX, Kraken (though their engine is buggy) and cex.io

I would try GDAX, it's a nice regulated exchange:

https://support.gdax.com/customer/portal/articles/2725963-intro-to-margin-trading