What will you do if your country did not legalize cryptocurrency?

[Smack That Ace]

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Yet in some countries it is completely illegal. What will you do if you are a fan of bitcoin but your country did not legalize cryptocurrency?

There are still some countries in the world that consider bitcoin and cryptocurrencies illegal and investors there have difficulty investing. But if you are careful in everything and do not brag too much, your investment will not have any serious problems. I'm also from a country where bitcoin is illegal but I also had no trouble with my investment.

The government banned it because they couldn't control it and they were afraid it would damage their power. Crypto is not a bad thing to ban so I think we don't need to follow them on this issue.

[Davidvictorson]

The main reason for government not accepting the Bitcoins is the decentralised nature of the coin. Due to this the government cannot control the Bitcoins or neither can impose tax on it. Hence they not making Bitcoins legal. If you are a crypto user, and government is setting up restrictions for you, then you can directly to P2P transactions to buy or sell the coins. You need not have to rely on the exchanges on your country, and no one can know how many Bitcoins you are holding in your wallet.

In my country, the government did not legalize Bitcoin. When the government of my country placed a ban on Bitcoin transactions some years ago, they immediately introduced their  own cryptocurrency which obviously was controlled by them. It was a project that was dead on arrival. A totally failure.

Well, their ban on Bitcoin didn't stop us from adopting it on a massive rapid scale. We switched to P2P and according to Google we have one of the highest Bitcoin transactions rate in the world.

[Awaklara]

Bitcoin is a very useful thing to many people. It has provided very good opportunities, job opportunity, trading opportunity and lots more for many people to earn money for their essentials of life. Bitcoin halving is fast approaching, giving many people hope of investment, and making reasonable profit at the end. Yet in some countries it is completely illegal. What will you do if you are a fan of bitcoin but your country did not legalize cryptocurrency?

if government regulations make Bitcoin Illegal, it will be difficult to see Bitcoin growing in that country. but that doesn't mean you can't have it. Several countries have also declared Bitcoin Illegal as a means of payment. but Bitcoin becomes Legal when it is only held as a crypto asset ownership.

Government regulations regarding the illegal status of Bitcoin cannot actually 100% restrain people from owning Bitcoin. As other members have mentioned, there are ways to still have Bitcoin even if there are no legal crypto exchanges in your country.

[Strongkored]

Bitcoin is a very useful thing to many people. It has provided very good opportunities, job opportunity, trading opportunity and lots more for many people to earn money for their essentials of life. Bitcoin halving is fast approaching, giving many people hope of investment, and making reasonable profit at the end. Yet in some countries it is completely illegal. What will you do if you are a fan of bitcoin but your country did not legalize cryptocurrency?

What can I do? there is nothing but to accept it and the government will always have a reason why it is banned, maybe because they don't understand enough about innovation and only get information that is not appropriate so they think it is dangerous and needs to be banned. If a country bans cryptocurrencies it means they also ban Bitcoin, and actually that's not a problem because as long as you are connected to the internet you will still be able to make transactions but only P2P, and can still trade on foreign exchanges, so a ban from the state will not be able to completely stop us not transacting.

[Sarah Azhari]

Bitcoin is a very useful thing to many people. It has provided very good opportunities, job opportunity, trading opportunity and lots more for many people to earn money for their essentials of life. Bitcoin halving is fast approaching, giving many people hope of investment, and making reasonable profit at the end. Yet in some countries it is completely illegal. What will you do if you are a fan of bitcoin but your country did not legalize cryptocurrency?

Nothing we can do, we can not against the government law. What can i do is keep my Bitcoin in my non-custody wallet at home. I don't want to save it in an online wallet where the government can track and confiscate my assets. And maybe I need some mixer just to make sure my asset cannot be traced. Actually, if we own Bitcoin, our treasure is safe from everything. Maybe if the government needs our assets for war expenses, they couldn't just take it away because they don't know what we own.

[bayu7adi]

Government regulations regarding the illegal status of Bitcoin cannot actually 100% restrain people from owning Bitcoin. As other members have mentioned, there are ways to still have Bitcoin even if there are no legal crypto exchanges in your country.

However, it's important not to risk too much of your money in this, as the government could potentially take actions that are detrimental to Bitcoin owners in countries where Bitcoin is not legalized. The government might treat it as something that threatens the ownership of purchased crypto assets.

Making small purchases is not a problem, and I, too, will do this. However, as the amount you own grows larger, it becomes increasingly risky if the government detects it. Always ensure your safety.

[CageMabok]

I have to separate the expression regarding the hope of investing because of the halving from the question you asked in the last line of the topic.

Bitcoin is a very useful thing to many people. It has provided very good opportunities, job opportunity, trading opportunity and lots more for many people to earn money for their essentials of life. Bitcoin halving is fast approaching, giving many people hope of investment, and making reasonable profit at the end.

I can quite agree with the statement that Bitcoin is a very useful thing for everyone because Bitcoin can provide good opportunities for everyone who believes in it. But when it comes to investing in Bitcoin, I don't think it's solely because of the halving in Bitcoin, because investors who want to invest their money in Bitcoin can do so at any time without having to wait for the halving. Although the Bitcoin halving is getting closer, it could provide a slight opportunity to gain maximum profits if the price increase is more significant. But in general, investing in Bitcoin can be done whenever we want without having to rely on whether there is a halving or not.

Yet in some countries it is completely illegal. What will you do if you are a fan of bitcoin but your country did not legalize cryptocurrency?

If your country or other countries still consider Bitcoin to be illegal, you don't need to publish more about Bitcoin to protect yourself from countries that may not really understand Bitcoin. This way you can continue to find and store your own Bitcoin quite safely, meaning it will not prevent you or anyone else who wants to use Bitcoin to invest or trade. Because in life you can still use fiat as usual without having to act in rebellion against the government.

[Afnan_faizah]

bitcoin is not banned in my country but government doesn't let any foreign currency to be used in my country. so i think as long as btc is not banned in my country then it is okay. i only use cryptocurrency for international transaction such as buy digital thing from website and etc.

[jasonjm]

Bitcoin is a very useful thing to many people. It has provided very good opportunities, job opportunity, trading opportunity and lots more for many people to earn money for their essentials of life. Bitcoin halving is fast approaching, giving many people hope of investment, and making reasonable profit at the end. Yet in some countries it is completely illegal. What will you do if you are a fan of bitcoin but your country did not legalize cryptocurrency?

Due to regulatory issues, countries are banning Bitcoin and cryptocurrency. If Bitcoin is illegal in your country, you can still purchase it in local currency through P2P transactions. Almost all the major exchanges have this facility. This way, you will have Bitcoin without the knowledge of your government. Even though crypto is banned in most countries, still people are investing in Bitcoin. If your government starts taking action against Bitcoin investors, and you still want to hold your BTC, then move to a place where BTC is legal/ not banned.

[WatChe]

There are still some countries in the world that consider bitcoin and cryptocurrencies illegal and investors there have difficulty investing. But if you are careful in everything and do not brag too much, your investment will not have any serious problems. I'm also from a country where bitcoin is illegal but I also had no trouble with my investment.

The government banned it because they couldn't control it and they were afraid it would damage their power. Crypto is not a bad thing to ban so I think we don't need to follow them on this issue.

Me too having same issue, crypto not legal in my country. We have to understand that there is no way anyone can block decentralised Bitcoin, the governments can only control the centralised crypto and there exchanges. Its also a kind of blessing in disguise that since you cant convert your Bitcoin to fiat they are accumulating in your wallets. Meanwhile one can figure out how to use them effectively without getting caught by the government.

[satscraper]

Bitcoin is a very useful thing to many people. It has provided very good opportunities, job opportunity, trading opportunity and lots more for many people to earn money for their essentials of life. Bitcoin halving is fast approaching, giving many people hope of investment, and making reasonable profit at the end. Yet in some countries it is completely illegal. What will you do if you are a fan of bitcoin but your country did not legalize cryptocurrency?

I would seriously think of a relocation. Luckily most of EU countries, one of which is my residential,  are feeling favorably towards bitcoin, regardless of the fact that they constantly tighten the screws on  relevant legislation.

UK doesn't count. They are not in EU.

[Xcode7]

Bitcoin is a very useful thing to many people. It has provided very good opportunities, job opportunity, trading opportunity and lots more for many people to earn money for their essentials of life. Bitcoin halving is fast approaching, giving many people hope of investment, and making reasonable profit at the end. Yet in some countries it is completely illegal. What will you do if you are a fan of bitcoin but your country did not legalize cryptocurrency?

Due to regulatory issues, countries are banning Bitcoin and cryptocurrency. If Bitcoin is illegal in your country, you can still purchase it in local currency through P2P transactions. Almost all the major exchanges have this facility. This way, you will have Bitcoin without the knowledge of your government. Even though crypto is banned in most countries, still people are investing in Bitcoin. If your government starts taking action against Bitcoin investors, and you still want to hold your BTC, then move to a place where BTC is legal/ not banned.

So far most countries are like that, as is my country and it is not a problem for us to have Bitcoin, whether it is investing or trading Bitcoin because even though the country's government has not legalized Bitcoin, so far there are no prohibitions or other rules that make us not. You can have Bitcin, besides there are many ways we can own Bitcoin without having anything to do with the government.

However, if one day the government takes action against this, I don't think it means we have to move countries either, because there are several things we can do without the government being able to detect Bitcoin ownership.

[armanda90]

Not all countries friendly and legalize bitcoin as payment currency transaction but during Bitcoin not banned yet as investment assets seems enough with some countries support. In my country Bitcoin still illegal payment transaction but our government not prohibited with Bitcoin using for investment assets and our way to earn profit trough trading. I don't think serious problem when bitcoin not allowed for payment currency transaction because we can trade, invest and withdraw cryptocurrency assets trough Bank account without get problem yet. Not all countries have positive viewed with bitcoin because they loss controlling when bitcoin price can drop and up drastically make them not allowed for bitcoin as payment currency transaction.
Need to respect with all countries regulation about bitcoin, we don't have push for making bitcoin as legal payment transaction due they have give space for trading and invest assets in bitcoin.

[Oasisman]

What will you do if your country did not legalize cryptocurrency?

I'd still use it. My country is open from any cryptocurrency in this present, but even if they will eventually prohibit the use of any cryptocurrency including bitcoin, I'd still use it.
Bitcoin in the first place is an international currency, therefore, I can still use it as a currency for international transactions or keep it as store of value. Basically, I could still use it the way I am using it right now. Therefore, even if a country would not legalize the use of cryptocurrency, you could still use it regardless. Just don't get caught, otherwise you'll face with legal charges lol.
Pretty sure the government can't ban all international crypto related exchanges, plus we have hundreds of VPNs we can use.

[SeriouslyGiveaway]

Bitcoin is a very useful thing to many people. It has provided very good opportunities, job opportunity, trading opportunity and lots more for many people to earn money for their essentials of life. Bitcoin halving is fast approaching, giving many people hope of investment, and making reasonable profit at the end. Yet in some countries it is completely illegal. What will you do if you are a fan of bitcoin but your country did not legalize cryptocurrency?

I don't think this is a current issue in 2023 because cryptocurrency is on the verge of exploding and reshaping the world, much like the internet did. Even countries that initially resisted it, such as China, Russia, and India, have had to reconsider their stance to avoid falling behind. Despite bans, people in these countries have continued to show interest in and invest in crypto. Russians and Indians, in particular, have consistently been among the most interested and invested crypto enthusiasts. While it might be more challenging if your country restricts crypto transactions, there are now numerous alternative methods available if you take the time to explore them.

[Despairo]

I will buy and hold Bitcoin, why you sounds like if the country didn't legalize Bitcoin, the citizen can't to buy Bitcoin?

Bitcoin don't have to be legal or accepted by the country because when it's still in grey area, you can do anything and you will not break any rule. This also give advantage where capital gain you earn from Bitcoin will not be taxed.

If Bitcoin is completely illegal in my country, I will try to protect my privacy and become anonymous as possible, so they will not know if I buy and hold Bitcoin.

[Z_MBFM]

Bitcoin is a very useful thing to many people. It has provided very good opportunities, job opportunity, trading opportunity and lots more for many people to earn money for their essentials of life. Bitcoin halving is fast approaching, giving many people hope of investment, and making reasonable profit at the end. Yet in some countries it is completely illegal. What will you do if you are a fan of bitcoin but your country did not legalize cryptocurrency?

I am a big fan of Bitcoin but in my country Bitcoin is not legal In my country if anyone uses bitcoin openly then legal action is taken against him and the government has announced that if anyone suffers financial loss through bitcoin then the government will not be responsible for it and central Bank is not ready to compensate for it. On the contrary, legal action will be taken against him. Yet in my country HUGE number of people trade and hold bitcoins. Since Bitcoin is a decentralized currency, even if the government tries hard, it cannot stop the use of Bitcoin.

[Peter3493]

 I would educate and advocate instead. I'd run workshops, webinars, and public discussions to spread the word about cryptocurrencies' and blockchain's potential upside. Teaming up with other enthusiasts, we'd create decentralized networks for person-to-person crypto transactions encouraging people to use them despite legislator's bans. Finally, I'd have a dialogue with law-makers showing proofs of how cryptocurrency adoption results in more financial inclusivity and innovation. My goal would be to fill in the gap between knowledge and regulations asking regulators in my country to become more crypto-friendly.

[LittleBitFunny]

The main reason for government not accepting the Bitcoins is the decentralised nature of the coin. Due to this the government cannot control the Bitcoins or neither can impose tax on it. Hence they not making Bitcoins legal. If you are a crypto user, and government is setting up restrictions for you, then you can directly to P2P transactions to buy or sell the coins. You need not have to rely on the exchanges on your country, and no one can know how many Bitcoins you are holding in your wallet.

In my country, the government did not legalize Bitcoin. When the government of my country placed a ban on Bitcoin transactions some years ago, they immediately introduced their  own cryptocurrency which obviously was controlled by them. It was a project that was dead on arrival. A totally failure.

Well, their ban on Bitcoin didn't stop us from adopting it on a massive rapid scale. We switched to P2P and according to Google we have one of the highest Bitcoin transactions rate in the world.

Governments cannot stop bitcoin, and there are ways for investors to invest in bitcoin even if they are from a country that bans bitcoin. So I think whether the government bans bitcoin or not, many people no longer care about this.

I still remember, many years ago when bitcoin was not as popular as it is today and most governments banned bitcoin, but that did not stop people from investing in bitcoin. Today, when many countries have accepted and legalized bitcoin, it makes no sense to ban bitcoin in the remaining countries.

[gunhell16]

Bitcoin is a very useful thing to many people. It has provided very good opportunities, job opportunity, trading opportunity and lots more for many people to earn money for their essentials of life. Bitcoin halving is fast approaching, giving many people hope of investment, and making reasonable profit at the end. Yet in some countries it is completely illegal. What will you do if you are a fan of bitcoin but your country did not legalize cryptocurrency?

In a circumstance like that, I am the only way I can imagine it being possible. I can use a P2P transaction first using a VPN and BISQ. I have to utilize it; I have no option. Although to some it may be against the law, I believe that as long as you exercise caution, stay true to who you are, and don't just trust anyone, there won't be any negative consequences to what you're doing here.

Second, if there is a neighboring nation that accepts cryptocurrencies, it is preferable to migrate there and abandon the nation where it is illegal. However, if you lack the capacity, I am actually forced to do the action I previously described.