Enough is enough! Good bye Bitcoin!

[worldofcoins]

In the first place why put all your Bitcoins in an exchange, when everyone knows that exchanges are highly risky storage of wealth, due to the fact that they can be shutdown and regulated by governments, and most exchanges use centralized databases to store Cryptocurrency, so its like a gold mine for hackers, if they can find some vulnerabilities, which almost every program has.

It would be hard for you to put more in bitcoins and other digital currencies.
Beneficial things never happen prior, you should stand by certain years and hold your coins for long haul reason.
Talk about the exchanging, then you should not stress over it since there's some more payment gateway which can help you convert your bitcoins in USD cash.

[carlisle1]

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.

Being a Newbie but you risked too much money?then that is your mistake and nothing to be blame.

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.

Good decision  because it seems that you are not for crypto investing,you have no strategy instead just doing what comes on your mind.

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? 

Just keep you Ledger mate,maybe this time crypto is not that popular and accepted in your country but if you really consider this as invesment then you are doing the right thing to wait.

[PancongStreet]

There are many ways to store your bitcoins, I think it is a bad thing if you store your assets on exchangers
You can store your bicoin in the app blockchains which I think is quite safe
if you need money quickly, there are many exchangers that can use perfectmoney and there are still many withdrawal options
so you don't need to worry

[tsaroz]

The problem here is lack of bitcoin adoption. We are depended on exchanges to change our bitcoin into cash. Bitcoin is just used as a manipulative currency while there are just a few business and merchants that accepts bitcoin. It's again largely due to regulations from the government. To solve it, people should start accepting bitcoins without a middlemen. A shadow economy should flourish which don't depend on the IMF's currency. I believe it would happen as bitcoin is much reliable and trustworthy then money issued under IMF.

[Lizzie_Girl]

You could have sold your bitcoin for skrill or payeer then from there withdraw to your bank account. I am not sure if they are supported in your country but you would need to try something like that to get around this problem. Things will get better in teh future for sure. There is clearly a demand for what you need in your country and some clever person who wants to make money will fill that demand its just a matter of time. I hope it hapens soon.  

[hulla]

The closure of the only native exchange site that offers service for crypto to KWD fiat currency is a sad story for all crypto enthusiast in Kuwait but the OP shouldn't have sold all his holding because the closure of the exchange was not because crypto is not supported by the Kuwait government, it was because the exchange site does not meet the criteria of having the license to operate within Kuwait which was what led to their fiat payment providers back out and this may change in the future when big exchange like Binance decide to partner with the exchange in the subject or expand their business.

Meanwhile, you can still trade on other exchanges while you sell your coin for fiat currency through the p2p exchange site.

[sekalitas]

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.

After I read your post, it turns out that it is difficult to trade crypto in your country  .
Maybe I can only give you a suggestion which is trading on Binance.

I wish I was never introduced to Bitcoin.  

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

contrary to me, I wish I could know bitcoin earlier.

I think keep it, who knows you will need it later 

[aceboy44]

The closure of the only native exchange site that offers service for crypto to KWD fiat currency is a sad story for all crypto enthusiast in Kuwait but the OP shouldn't have sold all his holding because the closure of the exchange was not because crypto is not supported by the Kuwait government, it was because the exchange site does not meet the criteria of having the license to operate within Kuwait which was what led to their fiat payment providers back out and this may change in the future when big exchange like Binance decide to partner with the exchange in the subject or expand their business.

Meanwhile, you can still trade on other exchanges while you sell your coin for fiat currency through the p2p exchange site.

If you paid attention to the message, it clearly mentions that there is no such thing as "crypto license in Kuwait," so assuming Binance partners with exchanges in Kuwait, how can they operate if the license to operate itself does not exist?  

[Miaallen]

The problem of cryptocurrency with Arabian countries seems to be getting tougher and wider. LUNO exchange is also said to have been banned in Qatar and that has made act of easily converting cryptocurrency to fiat currencies impossible in the countries.

[maldini]

We should show restraint toward the choice. I recommend you keep your bitcoin and forget about it. Stand by until the guidelines are clear and we can without much of a stretch trade our bitcoins for money. t isn't yet crypto neighborly. However, you have to understand that individuals outside your nation have more opportunity when managing Bitcoin. The old framework is making it truly hard for you. I figure you can exchange it and the purchaser simply needs to reset it with the goal that they can utilize it for themselves.

[mezzaluna]

There are many ways to store your bitcoins, I think it is a bad thing if you store your assets on exchangers
You can store your bicoin in the app blockchains which I think is quite safe
if you need money quickly, there are many exchangers that can use perfectmoney and there are still many withdrawal options
so you don't need to worry

Well, storing them in exchanges can really be quite dangerous but some people does not have enough gas to keep those Cryptocurrencies move from one place to another. Its actually better for day-traders to set specific time frames on when to trade and on when to make sure to keep their moneys in check so they can transfer it back to their safe wallets. I actually just do not see why some people risk the fact of leaving their money in other people's wallet.

[HardFacts]

I'm fed up with all this cryptocurrency thing.

Just wait until the price of BitCoin CRASHES again, a lot more people will be joining you 

[Eureka_07]

<snip>

Well, storing them in exchanges can really be quite dangerous but some people does not have enough gas to keep those Cryptocurrencies move from one place to another.
<snip>

Bitcoin is not using any gas. Rather, using miners fee as fees to the transactions.
Be reminded also that sometimes some exchanges set the own fee for your bitcoin withdrawals.
It's not good for small time traders cause the fee is way too much.
Sroring bitcoins/funds on exchanges is dangerous.
It's always at risk to be lost if someone stole it by hacking the exchange.
If you want to store, then store it where you control the key.

Remember: not your key, not your bitcoin.

[Alert31]

Don't say goodbye to bitcoin, just hold on. Time will come your country will accept cryptocurrency and that time you can exchange your bitcoin. For now just relax ,don't hate cryptocurrency and don't quit because if you leave you will not recover your loses anymore and if one day you will see that bitcoin is legally accepted anywhere then for sure you will regret.
Also, if you want to avoid loses , you should learn bitcoin very well on how to invest on it in order to gain and not to lose. It needs time ,knowledge and understanding and of course you should be a risk taker person.

[hahay]

We should show restraint toward the choice. I recommend you keep your bitcoin and forget about it. Stand by until the guidelines are clear and we can without much of a stretch trade our bitcoins for money. t isn't yet crypto neighborly. However, you have to understand that individuals outside your nation have more opportunity when managing Bitcoin. The old framework is making it truly hard for you. I figure you can exchange it and the purchaser simply needs to reset it with the goal that they can utilize it for themselves.

Yes, there are many transaction providers nowadays and also, he can still use a trusted escrow here to sell them to USD or other currencies, I think it would be better because it's useless he keeps getting angry and complaining because the situation makes it difficult for him to be able to convert his bitcoins to fiat. After all, hodling or not is up to the owner, if he is willing to hodling longer, there may be changes in the rules of his country, which may be in the future there will be exchanges that really get permission from the government.

[wxa7115]

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 is such a shame that you are leaving but taking into account everything that has happened to you then it is completely understandable that you are doing so, however this is an emergent market and governments and banks are not facilitating at all the free trade of cryptocurrencies for their fiat currencies which was to be expected, you are simply in a  country with very difficult access and you took some bad decisions as well.

However I wish you the best and if at some point the bitcoin adoption improves in your country you should at least think about the possibility of giving bitcoin and this market another chance.

[ropyu1978]

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 is such a shame that you are leaving but taking into account everything that has happened to you then it is completely understandable that you are doing so, however this is an emergent market and governments and banks are not facilitating at all the free trade of cryptocurrencies for their fiat currencies which was to be expected, you are simply in a  country with very difficult access and you took some bad decisions as well.

However I wish you the best and if at some point the bitcoin adoption improves in your country you should at least think about the possibility of giving bitcoin and this market another chance.

Look frustrated what happen with his trading assets and claim good bye for bitcoin because he lost moment when investing with bitcoin or altcoin, bitcoin keep the best currency worth investment for the future without inflation and liquid value, looks with other investment or saving your money for long term, day by day until year by year your money will increase worth value and have lower price although with the same amount, how if you try for saving assets as bitcoin and hold for long term how much profit will you get when bitcoin break to higher price.

[ropyu1978]

The knowledge you have and the experience you have is very, very valuable, but you don't want to blame bitcoin 100 percent, we must have principles because trade names have ups and downs, when bitcoin prices go up you always love bitcoin, but when bitcoin falls in price you blame bitcoin, and you are frustrated. be a true competitor without having to criticize when what we expect is not what we expected ..

[sapnu]

It is really unfortunate that your country is shutting down bitcoin but I think considering the amount of bitcoin you are currently holding, you can make it work if you would transfer to another country where bitcoin can be exchanged into real money and there are no restrictions as much as your country has. Even though you are caught up on that misfortune, you should still consider yourself lucky for knowing bitcoin early, many would wish they were you and they will surely hold it up until now if they were given a chance. Although my opinion was quite too shallow, I know you can and you will find a way to make sure that your holdings wouldn't go to waste.

[Iranus]

Buy Bitcoin now at this deep and thank me later. Now Bitcoin is filling its CME gap and by filling this GAP it will grow in a more powerful way. now bitcoin is gaining strength to break 70K resistance. this market correction is reasonable and I'm holding my position for 100K. The market has a lot of buyers and positive strength. The market is still holding MA50 on the daily chart so I think the market will be bullish as long as MA50 supports.