Bitcoin help

[Meltingtime]

I have a question about buying and transfering Bitcoin to others. I bought about 2k of Bitcoin from coinbase and sent it my cousin in Singapore. They weren't able to spend the Bitcoin from a local exchange bc they said the Bitcoin was banned or deemed illegal. I was wondering how often does this happen, how do you know if your Bitcoin is bad when you buy it.

Thanks for any help.

[1714749381]

1714749381

[AB de Royse777]

If you bought the coins from Coinbase then simply let them know that it was bought from Coinbase that you do not know how a coin should be identified as good or bad.

I believe the exchanges' user some tools to determine good and bad source of coins. It never happened to me, so I have no idea how it feels when you become a victim of such things.

Can you give a link of the exchange where it was sent? I have never come across to any exchange called BC.

[boyptc]

I have never come across to any exchange called BC.

I think what he meant by bc is because.

@OP how can bitcoin has been banned in Singapore? AFAIK, there's no legislation that tells they've banned it.

I was wondering how often does this happen, how do you know if your Bitcoin is bad when you buy it.

To avoid the same scenario, you check the country first if they have a policy that's against bitcoin.

[AB de Royse777]

I have never come across to any exchange called BC.

I think what he meant by bc is because.

You make sense LOL

I am curious to know about the exchange and how reputed it is in the local. Who knows it could be a fake exchange and the OP could be a victim. Hope this is not the case.

[cryptoperkele]

I have a question about buying and transfering Bitcoin to others. I bought about 2k of Bitcoin from coinbase and sent it my cousin in Singapore. They weren't able to spend the Bitcoin from a local exchange bc they said the Bitcoin was banned or deemed illegal. I was wondering how often does this happen, how do you know if your Bitcoin is bad when you buy it.

Thanks for any help.

Who was the one saying it was illegal? The exchange or the bank they tried to withdraw to? Maybe they need to pick another exchange because that doesn't sound right. To my knowledge cryptos aren't banned in Singapore so that exchange in question seems sketchy.

[BitMaxz]

I have a question about buying and transfering Bitcoin to others. I bought about 2k of Bitcoin from coinbase and sent it my cousin in Singapore. They weren't able to spend the Bitcoin from a local exchange bc they said the Bitcoin was banned or deemed illegal. I was wondering how often does this happen, how do you know if your Bitcoin is bad when you buy it.

Thanks for any help.

Can you ask your cousin if what exchange he talking about telling that Bitcoin is banned or illegal?

Maybe your cousin thinks that it was illegal or banned?

There are many people in Singapore who own crypto and actually they have some well-known coins based in Singapore. So it's impossible that Bitcoin is banned or illegal.

Look at this

[adzino]

I have a question about buying and transfering Bitcoin to others. I bought about 2k of Bitcoin from coinbase and sent it my cousin in Singapore. They weren't able to spend the Bitcoin from a local exchange bc they said the Bitcoin was banned or deemed illegal. I was wondering how often does this happen, how do you know if your Bitcoin is bad when you buy it.

Thanks for any help.

If the country you send bitcoin to has made bitcoin and crypto currencies illegal, it will be hard for them to convert it to fiat cash since the exchange will not allow them to make deposit and sell. They can do p2p trades like bitcoin for cash money or bank/e-transfer (I doubt the banks will ask question for such small amount of coins), but should keep in mind that they are breaking the rules. Why don't you just sell the coins in your country and send them cash? Easier for everyone. No one will be breaking the law.

[goinmerry]

I bought about 2k of Bitcoin from coinbase and sent it my cousin in Singapore. They weren't able to spend the Bitcoin from a local exchange bc they said the Bitcoin was banned or deemed illegal. I was wondering how often does this happen, how do you know if your Bitcoin is bad when you buy it.

Where you sent it to? What platform your Bitcoin ended up on?

Talking about legality, Singapore is one of the crypto-friendly countries.

What was exactly the noticed?

[TravelMug]

I have a question about buying and transfering Bitcoin to others. I bought about 2k of Bitcoin from coinbase and sent it my cousin in Singapore. They weren't able to spend the Bitcoin from a local exchange bc they said the Bitcoin was banned or deemed illegal. I was wondering how often does this happen, how do you know if your Bitcoin is bad when you buy it.

Thanks for any help.

Maybe you can go to the local Singaporean board here: https://bitcointalk.org/index.php?topic=214887.0. Just be careful and verify though, maybe someone will scam you there.

It's not that very active though, but maybe someone can help you out there. Anyways, as others have said, Singapore is one of the most friendliest country as far as bitcoin is concern so it's a big surprise to hear from you that it is banned there.

[Meltingtime]

Thank you for your help. I'm still trying to find out which exchange. I thought Bitcoin bought from coinbase was clean and I was surprised when they said it wasn't. I'll keep you updated

[maxreish]

Thats I am very confused, too. Cryptocurrency isnt illegal in Singapore, yet. May we ask what local exchange did your friend use so we may confirm and we can be of help of ever?
 
 Because Ive tend to search some local exchange in Singapore and seems there are legit ones that can transafer bitcoin without a problem.
 - Crypto exchanges in Singapore
 
 Maybe next time, you can use Binance and do transactions with p2p wherein you can directly send it to his bank account.