How can I survive in a place where BTC is restricted?

[Smitty Werben Man Jensen]

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~snip~

Most businesses rely on Bitcoin for transactions. They use Bitcoin to pay for goods and services and not for investment. Hence these business would do everything possible to bypass these restrictions imposed on Bitcoin by government. Bitcoin has so much benefits that have helped businesses to overcome many barriers encountered in international trade. Like in my country their is always scarcity of dollars and accessing it would take a whole lot of time. There are also limits to bank transaction and this has made businesses to suffer. Since Bitcoin is illegal in my country, most business rely on P2P and middlemen to bypass these restriction. But the best option would be to leave these Bitcoin unfriendly nations.     

But if those countries don't allow bitcoin, they won't be able to use bitcoin and only use bitcoin as an investment and not as a payment alternative. Maybe it's not time for bitcoin to be used as an alternative means of payment other than fiat because there are still restrictions in certain countries that do not recognize it as a means of payment. But if they realize the benefits of bitcoin for their business, especially the government, maybe they will try to apply it to the payment system so that people can pay using bitcoin.

Yes basically every country has its own policies and I'm sure it won't be easy for Bitcoin to be allowed as a means of payment worldwide,
it will always be interesting to talk about this because we know for ourselves that cryptocurrency technology is very advanced,
We'll see what the future will be like

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[Wong Gendheng]

Maybe at this time many countries are banned bitcoin than officially legalized, but the Bitcoin community is developing rapidly and cannot be stopped, many big issues continue to be spread to make FUDS, but we are not worried about the future of Bitcoin despite more restricted and more banned rules.

[maydna]

Yes basically every country has its own policies and I'm sure it won't be easy for Bitcoin to be allowed as a means of payment worldwide,
it will always be interesting to talk about this because we know for ourselves that cryptocurrency technology is very advanced,
We'll see what the future will be like

Hopefully, every government can see the use of bitcoin for their citizens, so they will allow the use of bitcoin and legalize it. Several countries have legalized the use of bitcoin and allowed their citizens to pay for transactions using bitcoin. But with the other benefits of bitcoin as an investment tool, I don't think people will often use it as an alternative tool to make payment transactions but will store their bitcoins and sell them when the price is at its best peak.

[galambo]

I also live in a country where crypto is completely banned. You get jail if you were found dealing in bitcoin or doing bitcoin mining. What I do is I transfer my bitcoin to friend living in UK and he pays me via PayPal. I am lucky that I have such an honest friend whom I never meet in real world but online. You can also try that if crypto is ban in your country.

[The Cryptovator]

No worries if the government ban crypto, use decentralized exchange and wallet to secure your funds and privacy. My government does not allow trading or holding crypto. But still, we survive. Using p2p or black market when we need to make it cash. So you have to do the same. Binance helps us with that for the p2p trade. Otherwise, we have no choice except to black-market though there is a risk of getting scamms.

[famososMuertos]

Hi, OP;
Bitcoin is revolutionary, not to be confused with anarchy, rebellious, adjectives with which they They could very well be used in those countries of your OP.  But as individuals we must weigh up to what extent without harming our present as citizens we must act in relation to the existing laws in the country where we residency.

It is very easy for someone who is not in certain countries, easily to give advice abouth bitcoin has no borders, you are your own bank, etc. because they don't have the risk likely to be fined or his freedom is not at risk.

Then, you can turn-on  idea revolutionary on the bitcoin issue but always stay within the laws of your country.

So if there are prohibitions, then fight against them, create proposals that are listened to, look for social organizations, give legal advice, whenever in a country that lives with restricted bitcoin you have to become a revolutionary of ideas(bitcoin).

[mm2543363580]

No worries if the government ban crypto, use decentralized exchange and wallet to secure your funds and privacy. My government does not allow trading or holding crypto. But still, we survive. Using p2p or black market when we need to make it cash. So you have to do the same. Binance helps us with that for the p2p trade. Otherwise, we have no choice except to black-market though there is a risk of getting scamms.

You can also  so peer to peer transaction - if you have trust worthy friends.You can always get your money exchanged through them.
There are also alternative sources available - you have to see - what other locals do and just get your money.

[justdimin]

Hopefully, every government can see the use of bitcoin for their citizens, so they will allow the use of bitcoin and legalize it. Several countries have legalized the use of bitcoin and allowed their citizens to pay for transactions using bitcoin. But with the other benefits of bitcoin as an investment tool, I don't think people will often use it as an alternative tool to make payment transactions but will store their bitcoins and sell them when the price is at its best peak.

Bitcoin is not just beneficial for us neither, it is great deal for the governments as well. We could literally pay taxes from our profits and those taxes would mean a lot of money for them.

Think about it, even if we paid just 1/1000 of our profit each time we profit, that would be a huge huge huge amount for a whole government because they will take it from each profitable trade made by every single citizen they have. That's going to be billions at least, use those billions to build something that will make them a profit, and they would be swimming in cash in a few years. That is at least if they use it smartly instead of just corruption and pocketing it.

[Johnyz]

No worries if the government ban crypto, use decentralized exchange and wallet to secure your funds and privacy. My government does not allow trading or holding crypto. But still, we survive. Using p2p or black market when we need to make it cash. So you have to do the same. Binance helps us with that for the p2p trade. Otherwise, we have no choice except to black-market though there is a risk of getting scamms.

This is the only option, and its a good thing that decentralized exchange still works on a restricted place but of course you have to very careful to avoid any problem later on. Surviving on a place where Bitcoin is banned is not easy and seriously, I can’t imagine being on that place. Just be careful always on dealing with P2P, you might already transacting with the government agent, and this can be more risky. The other option is to convert your Bitcoin in other place, though it requires a huge cost but still its worth it if we are talking big money here.

[maydna]

~snip~

Bitcoin is not just beneficial for us neither, it is great deal for the governments as well. We could literally pay taxes from our profits and those taxes would mean a lot of money for them.

Think about it, even if we paid just 1/1000 of our profit each time we profit, that would be a huge huge huge amount for a whole government because they will take it from each profitable trade made by every single citizen they have. That's going to be billions at least, use those billions to build something that will make them a profit, and they would be swimming in cash in a few years. That is at least if they use it smartly instead of just corruption and pocketing it.

That's what the current government should do instead of banning the use of bitcoin for the public. If governments do not or have not learned anything about bitcoin, they will be left behind by other countries and unable to see the benefits that they can get from bitcoin.

If more people use bitcoin and the government can get taxes from transactions sent to local banks, that will certainly be additional income for the government. This extra income can be huge as more people join and use bitcoin and it could be that it will be one of the biggest earners for the government.

[virasisog]

~snip~

Bitcoin is not just beneficial for us neither, it is great deal for the governments as well. We could literally pay taxes from our profits and those taxes would mean a lot of money for them.

Think about it, even if we paid just 1/1000 of our profit each time we profit, that would be a huge huge huge amount for a whole government because they will take it from each profitable trade made by every single citizen they have. That's going to be billions at least, use those billions to build something that will make them a profit, and they would be swimming in cash in a few years. That is at least if they use it smartly instead of just corruption and pocketing it.

That's what the current government should do instead of banning the use of bitcoin for the public. If governments do not or have not learned anything about bitcoin, they will be left behind by other countries and unable to see the benefits that they can get from bitcoin.

If more people use bitcoin and the government can get taxes from transactions sent to local banks, that will certainly be additional income for the government. This extra income can be huge as more people join and use bitcoin and it could be that it will be one of the biggest earners for the government.

Things like these could happen if the government aren't blind about the importance of Bitcoin in our economy but in some countries, they're trying to get rid of Bitcoin because they can't regulate it which is too unfair. The government usually disagrees with anything that they couldn't handle and control so they just ban it just like Bitcoin. It's just a good thing that other countries are open to cryptocurrency adoption.

[Nrcewker]

OP if you can’t survive in your place where BTC is banned, then you need to move to different country if you truly need to use Bitcoins.
Else go for elections and yourself become the President of the Country.
Moreover due to the decentralised nature of Bitcoins, it cannot be controlled by any government.
So you can keep your business with BTCs but with certain limitations.
You can use P2P transactions to buy sell Bitcoins.
And to store your Bitcoins use hardware wallet.
This will surely help to solve your problem upto certain limit.

[Pujangga]

Don't worry, top exchanges like Binance, Kucoin and so on provide withdrawal services to banks, even if we are in any country we can receive money from these top exchanges within a week of working days.

[Dunamisx]

I also live in a country where crypto is completely banned. You get jail if you were found dealing in bitcoin or doing bitcoin mining.

I think this is a weird decision made by such country as it's assumed to be part of ways human rights are being deprived of, pls I will like to have interest in knowing that particular country that made such implementation, and if this is truly indeed truth then i think its incalled for, giving a jail term is totally an abuse to human rights to freedom.

What I do is I transfer my bitcoin to friend living in UK and he pays me via PayPal.

Another good and available option is to engage the use of p2p in situations whereby your government go against the payment transactions in bitcoin or cryptocurrency from their respective commercial banks, this has been the most acceptable means to boycott the sanctions raised by the government as against crypto.

[Fortify]

While there are countries who have embraced or tolerated BTC since it's emergence in 2008, there seem to be some who are adamant about it because of its high volatility rate and the ability to conduct nefarious activities with it.
 In September 2021, El Salvador became the first country to not just embrace it, but also to use it as a legal tender and where were followed by Central African Republic in April 2022. It would seem that these countries have seen the light(BTC), in this case and have held firmly.
 Despite it's controversial emergence, it has managed to gain a kind of positive publicity. Countries who are strongly against it and have moved for it's ban in their nations are;

Algeria
They passed into law in 2014 and making illegal the use, buying and selling or holding of crypto currency
Bolivia
 Bolivia Central Bank passed the law of the total ban of the use of crypto currency in 2014
China
 On Sept 24, the Bureau of the People's Financial Consumer Rights Bank of China outrightly banned the use of BTC. https://en.m.wikipedia.org/wiki/Legality_of_cryptocurrency_by_country_or_territory
 There are many more countries who have taken this step. My question now is, how do citizens who have BTC and reside in areas that are not crypto friendly cope?

Like any illegal activity, you could run great risk if you get caught - each of these countries have particularly repressive governments that could easily bury you in the prison system if they choose to make an example out of you. There is usually a powerful reason that they choose to ban it in the first place, if we take China as an example they want complete control of monetary policy because it gives them control over the actions of every citizen, they have shown willingness to use all methods in order to make somebody comply with their demands. Advising people on methods to get around restrictions in these sort of countries is very dangerous and you should avoid holding cryptocurrencies while resident in these places.

[kawetsriyanto]

You can still use it — mostly just not as a currency, but for holding. You just need to hold extra quietly, and make sure you don't over-allocate so you wouldn't be forced to sell some if you needed the money.

Actually, it depends on the status of BTC in that country. For a country that bans BTC both as a digital asset and a currency, I have no idea for the solution since we will be in trouble if known by the authorities. But if in that country, you aren't allowed to use it as a currency but you are free to use it as a digital asset, surely holding it is the right way. My country also legalizes BTC as a digital asset only, so we have no chance to use it as a currency. But to have it as a digital asset, we have no problem at all. Even, the government supports the development of crypto businesses and more people are confident to have crypto digital assets.

[n0ne]

Just because it is stated a ban connective to a law, it doesn't mean people are obedient and never use it. They always find a way for the same. Likewise the users from specific countries can give OP the best suggestion than others like me giving random choices. In most countries cryptocurrency is considered among the assets and not as legal tender. In my country we don't have the legal status of Bitcoin usage, but we continue using it. Neighbouring country people reach here for using cryptocurrencies. Maybe OP can try this, if it is possible.

[qwertyup23]

This is the beauty of BTC, its anonymity can give you the opportunity to transact without even the government knowing that you transacted. Like some have mentioned, using a decentralized exchange can provide you the opportunity to exchange your BTCs and convert them to your desired currency. Though this may be risky, p2p transactions may also do the trick but you have trust people from here.

But the best would be to move all of your BTCs and avoid any of the local exchanges hosted by the country. These types of exchanges are the ones who require KYC documents- avoid them at all cost if you do not want to experience conflict with the laws of your country.

[Paul Pogba]

Don't worry about that, you can continue to invest in bitcoin or cryptocurrencies, if your country is banned from sites related to cryptocurrencies then you can subscribe to a VPN for around $ 10 per month, and I'm sure you can still receive money from top exchanges because currently there are many exchanges that provide facilities for withdrawals to bank accounts.

[Wawa2013]

Don't worry about that, you can continue to invest in bitcoin or cryptocurrencies, if your country is banned from sites related to cryptocurrencies then you can subscribe to a VPN for around $ 10 per month, and I'm sure you can still receive money from top exchanges because currently there are many exchanges that provide facilities for withdrawals to bank accounts.

We can make Bitcoin transactions if our country forbids it is by using a VPN, using a VPN is a common way that many people use to open access
to sites that are prohibited by the government. However, regarding the withdrawal of money from top exchanges, it cannot go directly to our
bank accounts, especially if our country is one that considers Crypto illegal, banks will not accept money from top exchanges. We can try platforms
that serve crypto exchange, because now there are many third parties that provide these services. We can also ask for help from our friends who live
in countries that legalize crypto to help withdraw money. In conclusion even though we live in a country that considers Bitcoin illegal, there is always
a way for us to have Bitcoin and make Bitcoin transactions, as long as we can still access the internet.