What difficulty do you face on trading bitcoin?

[hatshepsut93]

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.

[Eugenar]

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?

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.

[AakZaki]

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.

[nelson4lov]

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.

[Sadlife]

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.

[boyptc]

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?

[Lorence.xD]

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.

[ice18]

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.

[michellee]

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.

[iv4n]

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!

[20kevin20]

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.

[cheezcarls]

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.

[DabsPoorVersion]

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.

[yazher]

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.

[lepbagong]

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.

[semobo]

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.

If cryptos are illegal in your country then better stop trading them because more chances you will get caught if you are actively involved into it.You can buy bitcoin from peer to peer exchanges where prices will be premium since it is banned there and hold it on your wallet not in the exchange at any cost.

[mezzaluna]

Being a user in the Cryptocurrency Industry while being in a illegal country is worth the risk. I mean, if you are really careful, people wont get to know that you are gaining Cryptocurrency but of course there will be risk that can be encountered. One difficulty that can be expected is how to cash out your Cryptocurrency if you need them. Cashing them out on your own will really be detected since some wallets have some options where you can cash out your money into local banks within the country. A safe way of doing that is cashing out money in another country by your trusted friend but that would be hard.

[Debonaire217]

The very first thing you should consider is to create a wallet that will leave no track of your identity, then try to use TOR browser to browse some website that offer local trading. I'm pretty sure that most of the trading platform is not allowing people from your country to trade, but trading peer to peer might be quite risky. Or another way for you to trade is to create an account using VPN of a specified country, there's a possibility that you can access binance and other trading platform.

[TopTort777]

For me the most difficult parts in trading bitcoin are understanding fees and time needed for transaction to reach reserver. So many factors that impact on speed and price makes it difficult to arbitrage bitcoin.
I can get used to speed - always use slowest transaction and expect bitcoin to arrive “during a day”. But transaction price is difficult to predict. Today slow transaction cost 10 cents, tomorrow 5 dollars. 

[LimLims]

At the moment, I do not face any difficulties when trading bitcoin. The industry has grown too much since I first started.

Is it so? Maybe possible if your country supports cryptos.
But many countries like India and Bangladesh, they consider cryptos as illegal.
Traders from these countries do really face a lot of difficulties.
To convert Bitcoins to Fiat a lot of patience and risks are required.
Traders rely on sites like Localbitcoins to trade their hard earned BTCs.
Nevertheless let's hope for the best and will surely some day all the difficulties will be solved while doing trading.