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

[Quidat]

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?

For sure you would really be dealing with it despite of being banned or being prohibited, knowing that in internet then it would really be easy on bypassing on everything on which we know that government couldn't really be able to track us out on the time that we do make use of VPN on accessing on something.It is really just that the main problem on this one is that on the time that there's some verification or KYC on a said platform then on the time that your country is really that included on prohibited countries then you would really be expecting that there would really be some actions
that would happen which they would neither restrict you out or would really be just simply ignore you out. Speaking about dealing basically then you can really still deal and accumulate coins as you want despite of getting banned in your place.

Just make it sure that you wont really make yourself that get caught on the time that you do decide that going against governments rules and regulations since you do know and aware
on what are the things that could possibly happen along the way once you do get caught. If you are planning on just simply holding then you could buy coins but of course
dont make yourself that get tracked or else then it would really be imposing such huge problem.

[salad daging]

What will you do if you are a fan of bitcoin but your country did not legalize cryptocurrency?

I have to do it in an alternative way to other options such as doing P2P with friends or buying secretly so that the government doesn't find out even though there are risks later, but we can't be separated from bitcoin even though the state prohibits it. There is always a way where they can still can own bitcoins.

In fact, I have never heard of someone being arrested and jailed by the government for owning bitcoin, unless he committed another crime then that is possible, but for international transactions and not spending them in his own country it is still said to be safe.

Fortunately, my own country is friendly with bitcoin and recognizes this asset as a commodity, there is nothing that has to be covered because there are legal regulations.

[Alpha Marine]

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?

There are not many countries where cryptocurrencies are completely banned. Many countries have certain restrictions on crypto but not a total ban. If Bitcoin is completely illegal in your country I'm sorry but you'd be breaking the law if you go against it. Of course we all know there are ways around it though.

If you can move to another country you should but realistically speaking we know it's not easy to relocate to another country.

[tabas]

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.

It had entirely just made another space and industry and thanks to satoshi because it keeps on growing each year that passes by.

Bitcoin halving is fast approaching, giving many people hope of investment, and making reasonable profit at the end.

That is because that is what we've used to see. The cycle every 4 year every and after halving, the bull run comes in based on what we've seen for several years.

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 is nothing we can do if they declare that illegal in their country because they just don't like the whole features of it. If my country doesn't support it, that's fine as long as they won't ban it. Meaning to say, they're not supporting it either banning it but just neutral.

[Aikidoka]

Bitcoin should be a symbol of freedom and shouldn't be made illegal, as many people rely on it for work, trading, and long term investments. If my government were to make Bitcoin illegal it would be such bad news for me. However, it wouldn't stop me from using Bitcoin because it has become a daily habit for me to watch its developments and read news related to it.

I feel deeply connected to the world of crypto and its community and I wouldn't accept such a restriction easily. As long as I'm not engaging in any illegal activities, I'm determined to continue using it even if it means moving to another country to do so.

[famososMuertos]

With bitcoin there is no problem, but depending on the country you must correctly understand its laws and follow them, there is always a legal way to have bitcoin without the need to skip legal responsibilities.

Now, there are very few countries where the legal use does not exist, to be able to access bitcoin according to their jurisdiction, but there are so few countries where the legal or formal vacuum does not work that you should review this aspect carefully.

That is, it may not be legal to pay, for taxes, etc.  but you can hold it as just a digital asset, e.g. ,  so figuring out what illegal means or what is concerned, it can help you.

So, illegal is a broad parameter, investigate it.

[AmoreJaz]

With bitcoin there is no problem, but depending on the country you must correctly understand its laws and follow them, there is always a legal way to have bitcoin without the need to skip legal responsibilities.

Now, there are very few countries where the legal use does not exist, to be able to access bitcoin according to their jurisdiction, but there are so few countries where the legal or formal vacuum does not work that you should review this aspect carefully.

you can always find the loophole in the system and work it on your favour. this is the good thing about crypto market, you can move and do your crypto transactions without being known by your government. so it is up to you how you will deal with your crypto transactions according to your government's existing laws and protocols towards crypto. because the truth is, even if your country is not legalising the use of crypto, you can still learn its market, own some and participate on this market. your choice actually.

[BitDane]

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?

As long as my country does not ban it, I will continue with my cryptocurrency activities.  Not legalizing Bitcoin does not mean the country is restricting it.  There are countries that are neutral with Bitcoin and yet its citizen are free to transact, use and trade Bitcoin.  It will be a different story if my country banned the use, trading and engagement with Bitcoin and penalized those who are caught violating it.  If that happens then there is nothing I can do but follow the law implemented by the authority.  I do not want to end up in jail just because of Bitcoin.

Bitcoin should be a symbol of freedom and shouldn't be made illegal, as many people rely on it for work, trading, and long term investments. If my government were to make Bitcoin illegal it would be such bad news for me. However, it wouldn't stop me from using Bitcoin because it has become a daily habit for me to watch its developments and read news related to it.

This maybe our perspective but the authority may have a different opinion.  Unless we have the authority to implement things, then all we can do is follow the one who has unless we might found ourselves in trouble.

I feel deeply connected to the world of crypto and its community and I wouldn't accept such a restriction easily. As long as I'm not engaging in any illegal activities, I'm determined to continue using it even if it means moving to another country to do so.

But what if engaging in Bitcoin itself is declared illegal by your country?

[JoyMarsha]

You won't do anything besides look for P2P routes to acquire bitcoin. No one other than you would be aware of your participation with bitcoin if you acquired bitcoin using P2P.

A friend you tell about your bitcoin collection can decide to report you to the authorities in your state or country, which could be you against the government-given law. That would be an offense all by itself, and you would also lose your Bitcoin holdings.

If using bitcoin is prohibited in your nation, the best course of action is to trade anonymously and not reveal your identity to anyone to show them that you can still use bitcoin for trading despite its prohibition.

[Wexnident]

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?

P2P most likely. I don't think my funds would be compromised since I already have a mix of a hardware wallet and a locked desktop wallet in one of my spare laptops so those are safe, I rarely hold coins in exchanges so I don't think I'd be hit when they start banning users. It might be hard since I don't know much about p2p, but hey, not much we can do if they block access as well as exchanges recognizing the ban itself.

It's not exactly hard to bypass some geoblocking, especially if they weren't that strictly enforced plus there are a lot of tools that can help you stay anonymous if you want to (and if you know how to). Moving to another country might be an overkill for me though.

[Stable090]

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 bitcoin is illegal in a country, I don’t think there is anything that can be done about it, but all I know is that they can’t stop their citizens from using bitcoin, no matter how hard they try, their citizens will definitely look for a way privately to make use of bitcoin. I don’t care about breaking rules just to accumulate or make use of bitcoin, since I know what I am doing is not bad, the only people that see it as a bad thing are the government, and we know why they are fighting against bitcoin, we all know they are doing it just because of their own selfish interests.

As long as I'm not engaging in any illegal activities, I'm determined to continue using it even if it means moving to another country to do so.

The government is making everyone think that bitcoin is bad. Some people who don’t know what bitcoin is all about now believe that bitcoin is only used for illegal activities, which is very wrong. Bitcoin is neither illegal nor legal in my country, only the central bank of my country is against it, so I guess the government is also against it, but they haven’t just said it in public. The central bank gave all the commercial banks an order to freeze accounts that are linked to bitcoin transactions, but I noticed that after this order was given, it caused panic, but bitcoin has also gained more popularity in my country.

[royalfestus]

Using a VPN can shield Bitcoin traders from government surveillance. However, the primary obstacle lies in anonymously converting cryptocurrency profits to fiat currency and depositing them in a bank. To overcome this challenge, traders should seek exchanges capable of facilitating peer-to-peer (P2P) fiat transactions. Successfully achieving this can effectively mitigate the impact of government bans.

[TelolettOm]

What will you do if you are a fan of bitcoin but your country did not legalize cryptocurrency?

As long as owning Bitcoin won't lead to the jail, I will try to invest in Bitcoin. Sometimes, Bitcoin status may be not legal yet in a country, but the government probably won't give punishment for the people who own Bitcoin. They only try to remind the people that Bitcoin is a high risk investment. It ever happened in my country.

But I have no idea to buy Bitcoin if owning Bitcoin will get a punishment, especially to be jailed. I will wait for the time when Bitcoin is legal, or I will move to another country. I think these are only 2 options that I can do.


Luckily, Bitcoin investment is legal in my country. So, I don't need to worry as OP described.

[Darker45]

Can the government really do something about it, though? There are countries where Bitcoin is illegal. Have they effectively deprived their citizens of owning Bitcoin? No! A US congressman once acknowledged that Bitcoin is an "unstoppable force" and that "governments cannot stop this innovation, and those that have tried have already failed."^[1] This is the power of decentralization.

Anyway, the usefulness of Bitcoin transcends "very good opportunities, job opportunity, trading opportunity and lots more for many people to earn money." As a matter of fact, the essence of this technology isn't about making money. Rather, it is about freedom in money. While many of us are indeed making money out of Bitcoin's price increases, this shouldn't make us forget that Satoshi didn't create it to be just an investment opportunity. It is a solution to a real-life problem.

[1] https://cointelegraph.com/news/bitcoin-an-unstoppable-force-us-congressman-tells-crypto-hearing

[Stella Mese]

My answer will of course be short, namely, I will not invest in crypto if the government in my country prohibits it and in my opinion obeying the rules is a good thing and in my opinion looking for profits is not only from BTC, of ​​course there are many other businesses.

but I am very lucky because the government in my country allows its people to invest in BTC, although it is not permitted to use BTC as a means of payment.

[GreatArkansas]

(....)
 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?

This is a sad truth, we can force anyone to use Bitcoin just like we can't force some governments to legalize cryptocurrency in their jurisdiction.
What we can do to help Bitcoin and it's community is just continue to use it and spread good words about cryptocurrency without breaking such rules, so you need to understand the rules/regulations of your country before doing it so you are sure you are not breaking any law.

[Lorence.xD]

Using a VPN can shield Bitcoin traders from government surveillance. However, the primary obstacle lies in anonymously converting cryptocurrency profits to fiat currency and depositing them in a bank. To overcome this challenge, traders should seek exchanges capable of facilitating peer-to-peer (P2P) fiat transactions. Successfully achieving this can effectively mitigate the impact of government bans.

Well the problem is whenever trying VPN, there's a bad connection into some countries that could affect investing and trading like for example when doing a transaction, if you have a bad connection it could be voided cause you to lose more funds. P2P wouldn't be an issue as there's a lot of platform that could handle this kind of transactions and as long you have converted it into fiat for sure government couldn't traced and do a thing about your funds. Use VPN into countries that are capable to handle the signal from yours, cause sometimes it might look good as the bar is green, but if you used that country to connect, it would definitely lag.

[xSkylarx]

The term legalize is different from banned and prohibited so you can still use it even if it is not legalized. There are tons of countries that are in this situation that are not legalized and also not banned, so you can continue to use it.
 
In a country that is banned people secretly own Bitcoin but they aren't telling anyone just to be safe and no one can track you if you are just staying quiet. Even if this happens to me I will continue using it and just be cautious to let anyone know about it.

[bayu7adi]

When Bitcoin is prohibited, there will always be a way to acquire it, despite legal restrictions. Personally, once I realized that Bitcoin could serve as an alternative for future savings, I would purchase a small amount of Bitcoin to participate in all the excitement surrounding the cryptocurrency world.

This is a risky choice, but from any perspective, I am not harming the nation. Therefore, I will still feel innocent even if the country forbids it. Moreover, the quantity I purchase will not influence the nation's economy or the government's sovereignty as the strongest institution in the country. I continue to view it as a reasonable act for a citizen who is slightly deviating.

[FinneysTrueVision]

Bitcoin might be illegal or restricted in several countries but there are still many ways to get around these prohibitions. There are peer-to-peer gray markets where you can trade Bitcoin in-person or online. You can also use bitcoin to purchase gift cards or prepaid debit cards. There have not been many cases of users getting arrested for using or trading bitcoin. These laws are meant to discourage people from using Bitcoin but since they cannot control it it's difficult to actually have any meaningful enforcement.