Enough is enough! Good bye Bitcoin!

[Anonylz]

Your loss shouldn't be that big of a deal if there where other exchange options aside from the one shutting down, because certainly it won't be of any use holding btc without a means of exchanging it to cash whenever you feel the need to do so, i guess this must be as a result of strong government restriction from your country,
from the content of the letter sent out YallaBit has been unable to secure a 'Cryptocurrency license' which according to the content is not even available in kuwait, this is the major problem, if the government can make such license available am sure things will go smoothly, this must be very hard for the people over there who would also like to engage in crypto.

[dificanovi]

I'm fed up with all this cryptocurrency thing.

First off, I make tremendous loses due to being a newbie in this market. After a second thought (and accepting the heavy loses incurred) I decided to try again and re-invest in bitcoin, only to be told this few moments ago.

I will not risking HODLING bitcoins if they will shut down the first (and only) cryptocurrency exchange in Kuwait. As such I decided to play it safe, incur further loses, and just sold all my bitcoins and getting out of this business for good.

After all, why should I HODL my bitcoins (1.25 this time) when I can't exchange them for cash when I need them? More importantly, how will bitcoin appreciate when exchanges will close in other parts of the world?

I wish I was never introduced to Bitcoin.  

Any ideas on what I should do with my Ledger Nano X now? 

maybe for you bitcoin is very detrimental to you. People who are experienced in the crypto world for them have no regrets, losing in trading is a common problem. It is important that you know the crypto currency market system so that you can get more profit than loss.
some of my friends have benefited a lot from bitcoin, maybe you should learn more about cryptocurrencies.

[todiefor17]

Patience, many people lose money in this market and bitcoin is a safer choice than any other crypto I know. There is currently no reason for bitcoin to fall in price. The trend of storing bitcoins is becoming more popular, the number of bitcoins in exchanges is constantly being put into wallets.
I am expecting a new bull run after the US election.

[mezzaluna]

I'm fed up with all this cryptocurrency thing.

First off, I make tremendous loses due to being a newbie in this market. After a second thought (and accepting the heavy loses incurred) I decided to try again and re-invest in bitcoin, only to be told this few moments ago.

I will not risking HODLING bitcoins if they will shut down the first (and only) cryptocurrency exchange in Kuwait. As such I decided to play it safe, incur further loses, and just sold all my bitcoins and getting out of this business for good.

After all, why should I HODL my bitcoins (1.25 this time) when I can't exchange them for cash when I need them? More importantly, how will bitcoin appreciate when exchanges will close in other parts of the world?

I wish I was never introduced to Bitcoin.  

Any ideas on what I should do with my Ledger Nano X now? 

Well, its kinda your fault to indulge yourself into trading instantly. When I was a newbie, I was also scared to do those things but I personally knew that I don't have enough knowledge to be within that environment. Its good that you are creating this fast decisions but good things take time. HODLing will always be profitable if you will decide on a timeline on which you will sell your Cryptocurrencies.

[Polo7]

I'm fed up with all this cryptocurrency thing.

First off, I make tremendous loses due to being a newbie in this market. After a second thought (and accepting the heavy loses incurred) I decided to try again and re-invest in bitcoin, only to be told this few moments ago.

I will not risking HODLING bitcoins if they will shut down the first (and only) cryptocurrency exchange in Kuwait. As such I decided to play it safe, incur further loses, and just sold all my bitcoins and getting out of this business for good.

After all, why should I HODL my bitcoins (1.25 this time) when I can't exchange them for cash when I need them? More importantly, how will bitcoin appreciate when exchanges will close in other parts of the world?

I wish I was never introduced to Bitcoin.  

Any ideas on what I should do with my Ledger Nano X now? 

They do it becouse your kuwait dinar will lose value like it happens now all around the world.
So Bitcoin has more value then your own currency first They ban cryptocurrency in your Country then the next step is Block swift payments becouse no eur or usd holders will not want kuwait currency They will Come for cheap resources and cheap Land in kuwait Once the currency is de-valued.

[death69]

The situation in Kuwait is kinda tough. I wish there is something I can do to ameliorate the blockchain environment. Its really a sad thing to hear that there is currently no bitcoin exchange at all in your country. This is a backwardness  since other parts of the world are considering bitcoin and the blockchain as the future currency. They are implement this technologies in different fields. Hence, I dont think that other exchanges in the world will be forced to close like the one in your country

There are still many exchange that accepts bitcoin through Paypal gate. Why dont you give them a try ? Bitcoin is still a value asset in our modern world

[aceboy44]

I'm fed up with all this cryptocurrency thing.

First off, I make tremendous loses due to being a newbie in this market. After a second thought (and accepting the heavy loses incurred) I decided to try again and re-invest in bitcoin, only to be told this few moments ago.

I will not risking HODLING bitcoins if they will shut down the first (and only) cryptocurrency exchange in Kuwait. As such I decided to play it safe, incur further loses, and just sold all my bitcoins and getting out of this business for good.

After all, why should I HODL my bitcoins (1.25 this time) when I can't exchange them for cash when I need them? More importantly, how will bitcoin appreciate when exchanges will close in other parts of the world?

I wish I was never introduced to Bitcoin.  

Any ideas on what I should do with my Ledger Nano X now?  

They do it becouse your kuwait dinar will lose value like it happens now all around the world.
So Bitcoin has more value then your own currency first They ban cryptocurrency in your Country then the next step is Block swift payments becouse no eur or usd holders will not want kuwait currency They will Come for cheap resources and cheap Land in kuwait Once the currency is de-valued.

Bingo! But you miss something. The Kuwaiti Dinar is the strongest currency on earth (has been for 20+ years, so de-valuing the KWD will be tough) which is why I'm in favor of my government's choice of banning cryptocurrencies. I don't think swift payments has any effect on our currency, as I have been making swift payments for a while now  

Also, similar to Singapore Kuwait is a small country, so getting a "cheap land" will be sort of...... impossible for businesses, even if the KWD de-values  

[jrrsparkles]

I'm fed up with all this cryptocurrency thing.

First off, I make tremendous loses due to being a newbie in this market. After a second thought (and accepting the heavy loses incurred) I decided to try again and re-invest in bitcoin, only to be told this few moments ago.

I will not risking HODLING bitcoins if they will shut down the first (and only) cryptocurrency exchange in Kuwait. As such I decided to play it safe, incur further loses, and just sold all my bitcoins and getting out of this business for good.

After all, why should I HODL my bitcoins (1.25 this time) when I can't exchange them for cash when I need them? More importantly, how will bitcoin appreciate when exchanges will close in other parts of the world?

I wish I was never introduced to Bitcoin.  

Any ideas on what I should do with my Ledger Nano X now?  

They do it becouse your kuwait dinar will lose value like it happens now all around the world.
So Bitcoin has more value then your own currency first They ban cryptocurrency in your Country then the next step is Block swift payments becouse no eur or usd holders will not want kuwait currency They will Come for cheap resources and cheap Land in kuwait Once the currency is de-valued.

Bingo! But you miss something. The Kuwaiti Dinar is the strongest currency on earth (has been for 20+ years, so de-valuing the KWD will be tough) which is why I'm in favor of my government's choice of banning cryptocurrencies. I don't think swift payments has any effect on our currency, as I have been making swift payments for a while now  

Also, unlike China Kuwait is a small country, so getting a "cheap land" will be sort of...... impossible for business 

Strong currency doesn't mean it can sustain economic crashes due to pandemic, in 2008 the inflation rate of KWD increased a lot compared to their previous years which is a proof that any fiat currency will face issue when the economy issues all around the world.

[Shallow]

From what i can deduce from your post, it is a problem of your country and not Bitcoin's problem. I don't know much about your country but it seems Crypto is not yet legal thus the reason why the crypto exchange was shut down. I understand your plight but what you should know is that, Bitcoin is not like other altcoins which will dump and never rise, or like other altcoins whose team can exit scam.
Also, you should know that crypto is still being used in many countries and also, many countries are trading as well as exchanging crypto for fiat on different exchanges hence one of the reasons the userbase of top exchanges keeps growing.
I understand you and any decision you take, you are entitled to it but I think you shouldn't have sold your Bitcoin just because the exchange in your country was shut down.
Additionally, Bitcoin value will keep growing, although not stable because of the nature of the crypto space and also the crypto space has grown so much that exchanges can't just shut down.

[hatshepsut93]

yes maybe there is no profit and leaving bitcoin, but I think that's stupid. leaving bitcoin because loss is stupid, positive thinking is important why can you lose? there is a reason why your loss is not reading the development of bitcoin or the market and learning from people who are experienced is what you have to learn, not stop and leave bitcoin.

OP isn't leaving only because of losses, he can't trade anymore because the only exchange in his country got closed, and p2p trading is too much of an obstacle to him. It's really wrong to say that leaving a market is stupid, there's a lot of other investment opportunities out there, Bitcoin is just one of them. Maybe OP will get rich with real estate or stocks instead? Cutting your losses isn't inherently wrong, every serious investor does it at some point.

[Sinjokubhi]

I'm fed up with all this cryptocurrency thing.

First off, I make tremendous loses due to being a newbie in this market. After a second thought (and accepting the heavy loses incurred) I decided to try again and re-invest in bitcoin, only to be told this few moments ago.

I will not risking HODLING bitcoins if they will shut down the first (and only) cryptocurrency exchange in Kuwait. As such I decided to play it safe, incur further loses, and just sold all my bitcoins and getting out of this business for good.

After all, why should I HODL my bitcoins (1.25 this time) when I can't exchange them for cash when I need them? More importantly, how will bitcoin appreciate when exchanges will close in other parts of the world?

I wish I was never introduced to Bitcoin.  

Any ideas on what I should do with my Ledger Nano X now? 

Actually nobody forces you to stay HODL because it's everyone's right to keep bitcoin when you own it or sell it.

If the problem of loss is actually this every investor should also be aware, because in market movements there will always be new supply and demand which causes price movements to rise and fall.

When this principle is not fully understood, I think we as investors will be very disadvantaged, because it is not impossible that the losses we will get will also be even greater.

[Oasisman]

~snip~

Actually nobody forces you to stay HODL because it's everyone's right to keep bitcoin when you own it or sell it.

If the problem of loss is actually this every investor should also be aware, because in market movements there will always be new supply and demand which causes price movements to rise and fall.

When this principle is not fully understood, I think we as investors will be very disadvantaged, because it is not impossible that the losses we will get will also be even greater.

Man, the major thing that bothers the OP is the lone exchange in his country that is closing now. I guess he didn't mean his concern was the losses he had because of the market volatility, of course everyone must understand that, but this isn't the case for the OP. Instead, he's talking about the reason why he'll continue to hold his Bitcoin when the only crypto exchange in his country has been closed, because with that service the OP could make an easy transition from fiat to Btc and vice versa.

[Mahanton]

~snip~

Actually nobody forces you to stay HODL because it's everyone's right to keep bitcoin when you own it or sell it.

If the problem of loss is actually this every investor should also be aware, because in market movements there will always be new supply and demand which causes price movements to rise and fall.

When this principle is not fully understood, I think we as investors will be very disadvantaged, because it is not impossible that the losses we will get will also be even greater.

Man, the major thing that bothers the OP is the lone exchange in his country that is closing now. I guess he didn't mean his concern was the losses he had because of the market volatility, of course everyone must understand that, but this isn't the case for the OP. Instead, he's talking about the reason why he'll continue to hold his Bitcoin when the only crypto exchange in his country has been closed, because with that service the OP could make an easy transition from fiat to Btc and vice versa.

Cant really blame him if he do have this kind of perception or conclusion if he decide to hold due to unable to sell out or convert his coins because of the situation.
If you do find it hassle then you will really have those thoughts that you would rather stick and hold on what you do currently own but there are several ways which
is possible for you to exchange those coins with almost similar fees and it had been mentioned on several pages back but overall when op do really able to
find a way or method on how he cashout and buyback those coins then he will normally get back to the market and make involvement once again.

[Wind_FURY]

I'm fed up with all this cryptocurrency thing.

First off, I make tremendous loses due to being a newbie in this market. After a second thought (and accepting the heavy loses incurred) I decided to try again and re-invest in bitcoin, only to be told this few moments ago.

I will not risking HODLING bitcoins if they will shut down the first (and only) cryptocurrency exchange in Kuwait. As such I decided to play it safe, incur further loses, and just sold all my bitcoins and getting out of this business for good.

After all, why should I HODL my bitcoins (1.25 this time) when I can't exchange them for cash when I need them? More importantly, how will bitcoin appreciate when exchanges will close in other parts of the world?

I wish I was never introduced to Bitcoin.  

Any ideas on what I should do with my Ledger Nano X now?  

They do it becouse your kuwait dinar will lose value like it happens now all around the world.
So Bitcoin has more value then your own currency first They ban cryptocurrency in your Country then the next step is Block swift payments becouse no eur or usd holders will not want kuwait currency They will Come for cheap resources and cheap Land in kuwait Once the currency is de-valued.

Bingo! But you miss something. The Kuwaiti Dinar is the strongest currency on earth (has been for 20+ years, so de-valuing the KWD will be tough) which is why I'm in favor of my government's choice of banning cryptocurrencies. I don't think swift payments has any effect on our currency, as I have been making swift payments for a while now  

Also, similar to Singapore Kuwait is a small country, so getting a "cheap land" will be sort of...... impossible for businesses, even if the KWD de-values  

What about if there was a rebellious Kuwaiti who wants to buy heroine sent safely to his home from the friendly dark market vendor? Or if there was a Kuwaiti who wants to gamble in an online casino?

I believe Kuwaiti laws are very strict on both gambling and drugs. There might be some ordinary Kuwaitis who want to live a more liberating life, not just the elite.

[larus]

Newbies never changes... Trading is for professional people, you should just hodl btc if you dont know how to trade

[LimLims]

I'm fed up with all this cryptocurrency thing.

First off, I make tremendous loses due to being a newbie in this market. After a second thought (and accepting the heavy loses incurred) I decided to try again and re-invest in bitcoin, only to be told this few moments ago.

I will not risking HODLING bitcoins if they will shut down the first (and only) cryptocurrency exchange in Kuwait. As such I decided to play it safe, incur further loses, and just sold all my bitcoins and getting out of this business for good.

After all, why should I HODL my bitcoins (1.25 this time) when I can't exchange them for cash when I need them? More importantly, how will bitcoin appreciate when exchanges will close in other parts of the world?

I wish I was never introduced to Bitcoin.  

Any ideas on what I should do with my Ledger Nano X now? 

It's so sad that you made losses.
But it's oftenly seen from newbies only.
That's why it's always advised that, before investing your money into anything, do a brief check about it.
Same should happen with trading.
Moreover as far the exchange issue is concerned, you could have paid a visit to localbitcoins.com, i bet that would have surely helped you out.
Hope this helps you OP.

[MCobian]

Therefore, make sure you learn properly about Bitcoin before deciding to invest. Because newbies are only interested in pursuing profits,
I will make sure that will only make experience losses. Besides, in my opinion you are just not patient with investing in Bitcoin, try to hold
Bitcoin for about 3 years, I am sure you will get a large profit. Because HODL is the easiest way to make profit from Bitcoin, but if you decide
to leave the world of cryptocurrency. It is your right, I hope you don't regret the decisions you have made.

[worldofcoins]

You live in a region where only 4 million peoples live. Since Kuwait is a smaller country I don't think there will be a good service of bitcoins exchange.
Anyways you're simply accusing the bitcoin and trying to unfamous it. Not every person confronting this sort of issue they're are as yet contributing and doing exchanging.
Bitcoin is not for holding only there are still many services which bitcoin is providing. Anyways you can sell your coins online and get payment from PayPal, Payoneer.

[ice098]

I'm fed up with all this cryptocurrency thing.

First off, I make tremendous loses due to being a newbie in this market. After a second thought (and accepting the heavy loses incurred) I decided to try again and re-invest in bitcoin, only to be told this few moments ago.

I will not risking HODLING bitcoins if they will shut down the first (and only) cryptocurrency exchange in Kuwait. As such I decided to play it safe, incur further loses, and just sold all my bitcoins and getting out of this business for good.

After all, why should I HODL my bitcoins (1.25 this time) when I can't exchange them for cash when I need them? More importantly, how will bitcoin appreciate when exchanges will close in other parts of the world?

I wish I was never introduced to Bitcoin.  

Any ideas on what I should do with my Ledger Nano X now? 

It's so sad that you made losses.
But it's oftenly seen from newbies only.
That's why it's always advised that, before investing your money into anything, do a brief check about it.
Same should happen with trading.
Moreover as far the exchange issue is concerned, you could have paid a visit to localbitcoins.com, i bet that would have surely helped you out.
Hope this helps you OP.

Its a sad news mate hope that you can move on and made up from this huge loses of yours. What was happened to you was a charged to experience here in cryptocurrency and as a newbie it is not impossible to get lose what you invest especially when you are about to take it with no experience at all. But hopefully this might help you to learned from your experience and hope that you may not get down of what was happened. Taking risks, loses are very relevant when it comes to trading.

[ChrisPop]

You live in a region where only 4 million peoples live. Since Kuwait is a smaller country I don't think there will be a good service of bitcoins exchange.
Anyways you're simply accusing the bitcoin and trying to unfamous it. Not every person confronting this sort of issue they're are as yet contributing and doing exchanging.
Bitcoin is not for holding only there are still many services which bitcoin is providing. Anyways you can sell your coins online and get payment from PayPal, Payoneer.

Iceland is much more receptive to Bitcoin and they only have like 300-400k population which is 10 times lower than Kuwait. But as far as I know Kuwait is a third-world country where technology and infrastructure is not well-built. However living in such a country presents much more opportunities for entrepreneurship. Why don't you try and create communities who use Bitcoin and then maybe establish a nation-wide association.

I've just checked the electricity price in your country and it is just $.029/kwh. Quite cheap!! I'd look into mining if I were you. (talking to the OP)