How to trade certain coins if you are country restricted?

[goldkingcoiner]

Trading certain restricted coins is always possible. Most likely though you will have to choose a decentralised platform that the government cannot interfere in. My first thought would go to Bisq. Although there are others mentioned in this thread as well. I wouldn't trust a centralised exchange with my money or kyc documents anyway. They are all corrupt and will definitely sell your data.

[tvplus006]

...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. 
...

You, as a US citizen, really cannot trade on binance.com and when you try to log in to this domain, you will be asked to register your account on binance.us. I don't understand what your problem is, register on binance.us and you will be able to trade the BNB exchange token. Or do you not want to undergo verification?

[jerry0]

Im a us citizen but the thing is im abroad pretty much all year.  I never logged into my binance.com account once while i was in the US.  I only logged in it while outside the US which is why i could always log into binance etc.

[danherbias07]

P2P will always be the next option. This had been the way before when there is no exchanges yet. But, you just need to be careful on who you will deal with.
What will make this easier is if you learn about the old school way on how people buy and sell their Bitcoin. VPN is not the real answer and it might even jeopardize your assets by changing IP's for many times.
I guess that Binance mandatory KYC did really hit a lot of small investors in this industry but it's never too late to learn the curves on how to exit and enter the market. There will always be a way.

[Silberman]

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?



Obviously there is the use VPN thing but if an exchange requires KYC, then obviously you cannot do this.

There are a few solutions for a problem like the one you are having, if the amount of coins you are holding is large and the only restriction you are facing is the state you are living then it is worth to consider relocating to a state in which you are allowed to trade this particular coin, the second option is to find a person which accepts peer-to-peer trading, this is not that difficult especially if the coin is a popular one as there are people here in the forum which offer this service and you can get rid of your coins that way.

[Dread Pirate Roberts]

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?

The easiest way to figure it out through their official website or announcement to get information where to trade your coin . if all the information they provide is still not able to solve it, you can't help it through the Services Sub forum and trade with other bitcointalk members by providing their fee services. Don't forget to use escrow if you're not sure.

[jerry0]

What are my options if i have powerledger then?  I do see kucoin seems to sell it but im us citizen.  But as long as I dont do KYC that is okay?

[LUCKMCFLY]

There are a few solutions for a problem like the one you are having, if the amount of coins you are holding is large and the only restriction you are facing is the state you are living then it is worth to consider relocating to a state in which you are allowed to trade this particular coin, the second option is to find a person which accepts peer-to-peer trading, this is not that difficult especially if the coin is a popular one as there are people here in the forum which offer this service and you can get rid of your coins that way.

You are absolutely right, in fact in my country there are many people who do something similar but in everything, both in money services and in services, food and everything. The good thing about crypto is that it can be traded and brought to FIAT quickly, there are many telegram groups that are dedicated to it. The only thing is that Crypto has not restricted it, only in the mining part, the government does a lot of monitoring the miners so that they register in their body, otherwise they are put in jail.

[Beparanf]

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?



Obviously there is the use VPN thing but if an exchange requires KYC, then obviously you cannot do this.

Use DEX or P2P exchange that do not requires KYC, Your problem is restricted due to Fiat which you can easily dodge by withdrawing your asset to a non-custodial wallet then just connect on DEX that offers the coin that you want to trade. Just convert back to the native token or stable coin you are using if you want to cash out your money properly.

[pooya87]

Just convert back to the native token or stable coin you are using if you want to cash out your money properly.

You should know that the centralized shitcoins (which are the tokens and stable coins) are extremely risky even though the particular shitcoin you wanted to convert to hand't have any incidents in recent time that still doesn't change that risk. By design these coins are risky simply because there is a single point of failure. You can wake up some day and see that stable coin has disappeared or the owners have disabled your "coins".

[Tygomi]

I agree that there really is a certain risk, but this is an activity where you cannot do without it.