How to trade certain coins if you are 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?



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

[CryptopreneurBrainboss]

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

We have such services in their numbers on the forum, do well to verify if you're trading with a genuine trader and not some scammer before sending them your coins.

To make things easier you can drop a request on my exchange service thread BrainbossXchange Service {BTC/NGN Altcoins/BTC/Stablecoins}, and I'll gladly trade those coins for you and send you the coins of your choice.

[semobo]

If you are living in a place where exchange is restricted from trading coins due to the regulations then you have only one option which is p2p, it can be either a p2p trading platform or find someone in an online forum to trade them for BTC then with the help of escrow, you can complete your trade safely but it may be expensive than trading on centralized exchanges.

[Ararbermas]

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

there's still some exchange that you can use without any KYC requirements such latoken , but you know there's a certain coins to trade only as well within that platform, and also there's a swap sites where you still can trade your coins, and for me probably that's the good option if you have such issue in your country., wherein you can connect your wallet to the site and you can use their swapping service without any requirements, but remember to fill your wallet for gas fees because its needed..

[mk4]

Peer to peer exchanges that don't require AML/KYC has existed for a while now. Of course, don't expect prices to be as tight as with exchanges like Binance, but yea, privacy > better prices.

https://localcryptos.com/
https://hodlhodl.com/
https://bisq.network/

[tbct_mt2]

[BIG LIST] Buy/Sell Crypto (OTC, P2P, DEXs, CEXs, NO-KYC, ATMs, etc.)
Help: A list of LocalBitcoin alternatives (P2P marketplaces)

P2P exchanges are best but you have to withdraw your coins to your non custodial wallets after you finish your buying trade. Not all P2P exchanges are truly decentralized and if your account get restricted, you will not be allowed to withdraw your coin.

[cryp24x]

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.

Sorry to hear that dude about your situation there where you can't able to make some trading activity.
The only thing I can suggest you to do for now is P2p I guess first thing you must use for this matter or I heard some
of the people like you where they're country was restricted too like yours but even is like that, they can still do trade
through using VPN.

[ethereumhunter]

Suppose you can use Atomic Wallet, Jaxx, Coinomi or other multi wallets. You can use the build in exchange inside the wallet to send your bitcoin and sell your bitcoin to altcoin or vice versa and then send the profit to your coinbase or Gemini and withdraw the profit. That will be simple for you as you do not have to register to the DEX and you only need to use your phone to trade.

[otundebis]

Trading other altcoin restricted in your country does not have to be a nightmare,  you can look for third party and transact with an escrow,  or you may move to jurisdiction where you are free and allow to trade such coin.  I remembered I have had to move from UK to other country to trade my bitcoin once!

[LimLims]

Yeah i have seen many situations and many people falling in these situations many times.
What you can do is contact someone trusted who is able to use the exchanges, and sell them your coins.
You can do these in many P2P exchanges (i guess other members have already mentioned about it).
Moreover you can also trade them here in the forum in Currency Exchange section.
Yes the prices you won’t get as you are getting in direct exchanges.
Hope this helps you OP.

[smartaction]

If you are living in a place where exchange is restricted from trading coins due to the regulations then you have only one option which is p2p, it can be either a p2p trading platform or find someone in an online forum to trade them for BTC then with the help of escrow, you can complete your trade safely but it may be expensive than trading on centralized exchanges.

P2p is one of the way for trading or buy/ sell cryptocurrency with local Fiat money. But in this case if both people are forum users then their account will be connected through blockchain translation. And two accounts will be counted as multi. Where the use of two accounts is not permitted under the rules of the forum. Again, if the transaction record is not considered as multi, then the real multi-users will be able to use multiple account easily. What do you think is the solution?

[crwth]

Maybe you can use a DEX and then find a coin that would be available to your country. From there choose from the ones that you can trade into cash so that you wouldn't have to worry about depositing/withdrawing the funds from the exchange. How do you normally do it, OP? With those valid coins in your country.

[el kaka22]

I would say either you use p2p or you do not? I mean VPN is another option but usually there is a KYC involved as well. Plus, if it is only trading the coins, then you could swap them on pancakeswap or uniswap and you would be fine, there is no kyc, you will give one token and get another and all the big coins have a wrapped version in them as well so you could do like some wbtc-weth swap there as well. It is only the fact that you can't take it into your bank account that is the problem and that could be dealt with in p2p as well.

I do not see any problems at all when it is illegal in a nation or restricted, as long as it is not a huge crime, like not a jail but a 100$ ticket type of thing? Then I do not see too much of a problem.

[GeorgeJohn]

P2P is one of the best option or I think the only option however I the price in P2P services is much higher than the market but you don't have to choice but to accept those prices. Trading is allowed on where I live so I'm not really sure about for the people who wants to trade if their country is restricted.

If p2p is one of the options i accepted, okay, what of a situation or a process whereby their is no room for p2p what's going going to the next or second option, because if a country restrict cryptocurrency transactions they most be a possible measure or an alternative were crypto most be exchange, its a hope of bitcoin users.

[Johnyz]

P2P and DEX are the only option for you, look for an exchange that is available to you and use it to cash out your token or even trade it, there’s a lot of ways to do so and the only problem here is that, if your token is not listed on any DEX but only to a centralized exchange where you are restricted from using it. You can also hold into it until that token made a good progress about exchange listing.

[sheenshane]

Forgot centralized exchanges firms if you're in a restricted country and follow the suggestion above, p2p and decentralized exchange are your best choice.

And also on this forum, you can offer trade with someone else but of course, those only who are reputable or else, use trusted escrow for each trade so that you will always have a safe transaction.

Unfortunately, Binance was now implying KYC verification and you couldn't trade your altcoin there if you're not KYCed level one at least.

[jerry0]

Okay so to make it simple. 



Let say the altcoin you have... let say its an altcoin that only binance and binance.US has and no other exchange has this.  Thus imagine coinbase/gemini and every other exchange doesn't trade it.


Example let say the coin is BNB or BUSD.


Are you telling me those peer to peer networks... you could find someone to trade bnb or busd for btc or usdt/usdc etc?


What are the sites that does this... so i could take a look at it?


Also... how much more will you be paying for it?  Example in those places..are you playing like a few percentages more?

[michellee]

Okay so to make it simple. 
Let say the altcoin you have... let say its an altcoin that only binance and binance.US has and no other exchange has this.  Thus imagine coinbase/gemini and every other exchange doesn't trade it.
Example let say the coin is BNB or BUSD.
Are you telling me those peer to peer networks... you could find someone to trade bnb or busd for btc or usdt/usdc etc?
What are the sites that does this... so i could take a look at it?
Also... how much more will you be paying for it?  Example in those places..are you playing like a few percentages more?

You can check by yourself at https://coinmarketcap.com/currencies/binance-coin/markets/.

You can find which exchanges that have BNB pair and what other coins that trade with BNB. I do not get what you mean about "find someone to trade BNB or BUSD," but to be clear, I think you want to say the exchanges.

If that is related to the money that we will use to trade BNB pair stable coin or BTC or ALT, that will depend on how much money you will use to trade because I can use $50-$100 in one exchange and trade it and try to make money. But to use more than $1,000, I will think twice, especially if the market situation is still like today.

[mk4]

Are you telling me those peer to peer networks... you could find someone to trade bnb or busd for btc or usdt/usdc etc?


What are the sites that does this... so i could take a look at it?


Also... how much more will you be paying for it?  Example in those places..are you playing like a few percentages more?

Yes, assuming that you could find buyers/sellers with the trading pairs you're wanting to exchange. Think like eBay, but for cryptocurrencies. So prices can be a bit more expensive/cheaper compared to actual market prices. You can set your own offers though, so there's that.

https://localcryptos.com/
https://hodlhodl.com/
https://bisq.network/

[hugeblack]

Avoid the currencies listed on one or two platforms or those that do not have high liquidity, as you waste a lot of money in this way.
Some platforms do not require identity verification so you can use it without using VPN *for small amounts.* Kucoin AS example/
Finally, some decentralized platforms or currency trading board of this forum will be appropriate, but it is better to avoid platforms that have small trading volumes or are listed on few platforms.