Trading Certain Coins While Being Country Restricted?

[jerry0]

What happens if you have a coin and you can no longer trade it because the exchanges that offer the option to trade... you cannot use it due to country restriction or some other similar issue?  Such as you cannot get an account there for whatever reason it maybe?


For example, soon I will only be able to use only coinbase/gemini because im a US Citizen and because many other exchanges like kraken and binance.us ... i can't use due to the state where im from. 


So for example, when i look at a coin like BNB... which is a very popular coin on binance and binance.US, how in the world would i sell this coin if i can't use those exchanges?


I got to assume lot of people have been in this situation?


Of course if you know this situation will happen, best to sell the coin while you can so you don't have the issue.




So what are one's options?  Imagine you had BNB or another altcoin and the exchanges that you allow you to trade it... you cannot have an account there.  Are you screwed?  I assume you could always find someone online who would help you sell it so to speak for a fee?  Like imagine you give them BNB and they pay you via btc or stablecoin and you pay them extra to help you sell the coin since you cannot have an account at the exchanges which sell it?



Are there services like this?  What would be the fee for something like this?

[1715147088]

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[1715147088]

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[1715147088]

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[cabron]

So far there seems to have no news about US citizens not being allowed to trade. There is however news about SEC also being heavy on regulations and it's possible to happen. I don't know what issues does binance have in the US but if you still could withdraw the BNB tokens you mention, then maybe you could sell them to someone in this forum exchange.  People selling coins in this subforum is not based on market price though.

[RussianEnglishTranslation]

What happens if you have a coin and you can no longer trade it because the exchanges that offer the option to trade... you cannot use it due to country restriction or some other similar issue?  Such as you cannot get an account there for whatever reason it maybe?


For example, soon I will only be able to use only coinbase/gemini because im a US Citizen and because many other exchanges like kraken and binance.us ... i can't use due to the state where im from. 


So for example, when i look at a coin like BNB... which is a very popular coin on binance and binance.US, how in the world would i sell this coin if i can't use those exchanges?


I got to assume lot of people have been in this situation?


Of course if you know this situation will happen, best to sell the coin while you can so you don't have the issue.




So what are one's options?  Imagine you had BNB or another altcoin and the exchanges that you allow you to trade it... you cannot have an account there.  Are you screwed?  I assume you could always find someone online who would help you sell it so to speak for a fee?  Like imagine you give them BNB and they pay you via btc or stablecoin and you pay them extra to help you sell the coin since you cannot have an account at the exchanges which sell it?



Are there services like this?  What would be the fee for something like this?

You use decentralized exchanges like Yapeswap, Ref Finance, or Spookyswap. Those are peer to peer on smart contracts and do not require kyc. You then trade to stablecoins which you can withdraw to fiat on multiple platforms. If crypto is completely banned in your country you can use something like bisq.

[asriloni]

I got to assume lot of people have been in this situation?

A lot of people from US and CHN were facing this problem.

Of course if you know this situation will happen, best to sell the coin while you can so you don't have the issue.

Might become another way if you wanna quit from crypto. Just liquidate all of your assets and you will be fine. This is an alternative way.

So what are one's options?  Imagine you had BNB or another altcoin and the exchanges that you allow you to trade it... you cannot have an account there.  Are you screwed?  I assume you could always find someone online who would help you sell it so to speak for a fee?  Like imagine you give them BNB and they pay you via btc or stablecoin and you pay them extra to help you sell the coin since you cannot have an account at the exchanges which sell it?

I will not trust others to hodl my coins as these are my money. you can't assume if someone will always be trusted to sell or exchange your coin and then give the money to you. Too much scammers these days and the solution is to trade a coin that already accepted by so many dexs that didn't require KYC.

Are there services like this? 

There are no and it's better to deal p2p transaction.

[tyz]

What happens if you have a coin and you can no longer trade it because the exchanges that offer the option to trade... you cannot use it due to country restriction or some other similar issue?  Such as you cannot get an account there for whatever reason it maybe?

There is a fast growing number of decentralized exchanges where you can trade most coins without having any country restriction and without having an intermediary. Decentralized exchanges are the future anyway, so in my opinion such restrictions are only a temporary phenomenon. Personally, I haven't used centralized exchanges for a long time.

[mu_enrico]

- Robinhood
- Instant CEX such as ChangeNOW et al.
- Instant DEX such as PancakeSwap
- VPN

You can use a combination of above depend on your specific case. Let's say you have some BEP-20 token you want to sell. You can use PancakeSwap to swap into BNB. Then use ChangeNOW to swap BNB (BSC) into any token that you want. If the token isn't listed on dex (xxxswap sites) or anywhere except market that restricts your country, well, depend on what exchange you may be able to use VPN to trick the exchange, especially if it still not fully KYCed.*

*Not a financial advice, DYOR & DWYOR

[Tigerheart3026]

i can not use huobi global exchange because my country is restricted here, and i never tried using vpn. if i have a token and it's only list in huobi when i need to someone help to sell it. decentralized exchanges is freedom of trading an anywhere, there no restriction,
so i choose it for this opportunity.

[goolesby]

any coin can be exchanged for money just like any other asset. There are many cryptocurrency exchanges online. This exchange transaction can also be done between individuals or through a communication application platform. There are no official rules when it comes to exchanging coins into other currencies.
many choices of wallets what should you choose don't worry where you are you can exchange them for coins that are legal in your country.

[20kevin20]

Decentralized exchanges such as Bisq, Pancake or so. Pancake is easy to use and BNB is supported heavily. You can use bridges as well. Moving from ETH to BNB through bridges and then trading tokens through Pancake is easy peasy.