Is it easy to spend btc in your country?

[Marvell1]

Yep, it's non-official as for now, but who knows, maybe there will be time when we will have BTC as a real payment options for bigger purchases, that would be wonderful due to such capabilities being exactly for what BTC was created for - to be an alternative.

Anything is possible but with what the world is looking at about bitcoin, they are trying to make bitcoin an investment, an asset and people are happy with that too. So I doubt that one day bitcoin will be able to become a legitimate payment method.

The only scenario I can think of is that bitcoin will become popular and recognized worldwide, and it can only function as a payment method if there is an agreement between two parties. I don't expect bitcoin to become both an asset like digital gold and an alternative means of payment.


Like everyone else, bitcoin is not banned in my country and it is legal as a commodity, property, but not as a legal payment method.

[iBaba]

It's not easy spending buying/selling crypto in my country, but it's definitely possible as long as you know what you are doing. Small amounts don't attract any taxes or prying eyes, but big amounts are a whole other matter.

It's never going to be as easy as dealing with FIAT for sure, but it has gotten a lot easier dealing with them these days thankfully due to world governments accepting the fact that crypto is here to stay.

While I believe that a lot of Nigerians are now familiar with the word bitcoin, only a proportion of the numbers have been able to fully explore the usage of the digital currency and can accept it for transactions. Till date, you cannot find a market square where transactions are made using the bitcoin currency, people do not still believe in using it for their daily trades and transactions.

Many traders in Nigerian markets are more interesting and confident in the Fiat payments rather than any digital payments. Although I'm very confident that things will take a good shape, only that it will require more time to do that but it will definitely be. The best part of it is that traders in Nigeria have a behaviour that suggest them adopting bitcoin in the near future, especially that it didn't take time for plenty of them to adopt the online banking payment method which seem almost like an outcast to them, to sudden mass adoption. It signify that Bitcoin will one day take care of that.

[Fivestar4everMVP]

There are so many different rules in different countries, sometimes even BTC is banned, yet there are still BTC transactions in these countries. How does it work? Is it easy to sell btc in your country, or to buy something with it? What have you bought, for example? Or what are you planning to buy?

Bitcoin and crypto currency transactions used to be banned in my country, you noticed I used the word "used" because it's no longer banned..

But while the ban was still active, it did not stop the citizens from carry out transaction in bitcoin, I've meet a lot of people who bought a lot of cool stuffs and paid using bitcoin, I myself way back 2022, I bought a motorbike and pay in full using bitcoin.

Now, I am looking forward to buying a car and i am hoping to make the full payment using bitcoin, atleast, I've drove pass so many car dealers here in my city and I alway see where it is written on their signboard that they accept cryptocurrency payments like Bitcoin, eth, usdt and few others, when I've definitely gathered enough money to afford me the type of car I want, I will buy it and pay using bitcoin, and also post about it here 😁

[lizarder]

I tried to and it doesn't work, even now that Bitcoin is more common among the youths and the old, they choose to not spend their Bitcoin but hold for more value in future.

Is the same as us because now there are many people who are trying to hold Bitcoin compared to shopping because many people realize that Bitcoin is an asset that is so valuable and will have a pretty good value growth in the future.

At one time I put a signboard about my business with Mark that Bitcoin is accepted here but I was warned by people to put it down because of bad people who can come looking for victim to prey on.

The Bitcoin acceptance option is still open in my business till today but it keeps getting boring and boring every time because no one want to use Bitcoin as payment option anymore.

Your case is different because we are not allowed to make transactions using Bitcoin because our country still makes Bitcoin as an investment asset. I see some negative impacts regarding payments using bitcoin because bad people can do activities that are not profitable for us and if security steps are considered much more important it may not be necessary to make nameplates on businesses that receive payments using bitcoin.

Although currently many online stores have received payments using bitcoin and I think they have prepared good security steps so that they do not endanger the business or security measures for themselves after doing so.

[uneng]

Personally, I have a lot of difficult spending Bitcoin where I live, because there aren't services willing to accept it as payment method. And to make things worst, the government is heavily regulating the industry right now, so not every services we had available before are disponible anymore.

Anyway, I don't blame the regulations for the lack of services adopting Bitcoin. The main issue is the disinterest of businessmen and citizens in general for Bitcoin. They rely on another methods to invest their money and to work on. Crypto industry seems distant and unfamiliar for them, although they have already heard the name Bitcoin before.

And I really don't know if it's going to change anytime in the future, because I think if they were to change or open their minds, it would have already happened, considering economy does pretty bad, without any fixes for a long time already. So, it should be a natural move from them to find alternatives like Bitcoin to improve their financial condition, raising the income.

[Rockstarguy]

If bitcoin is legalised in my country and can be used to purchase anything I don't think I will be willing to spend my bitcoin to get things always because I see bitcoin so value thst I don't need to spend it but instead to hodl it.

Since there is a Fiat currency,  i will prefer to spend my traditional currency and keep hodling my bitcoin for the future . I think this may the reason why many are not really spending their bitcoin because they prefer to hodl it than to spend it.

[Cpt_reader]

Cryptocurrency is banned in our country. Many banks have signs in front of them that prohibit cryptocurrency transactions. Again, a year ago, I saw in the newspaper that two people were arrested by the police for Bitcoin transactions. Still, many people have quietly started buying and holding Bitcoin. The price of Bitcoin has already been discussed in newspapers. Currently, the government has also relaxed a little and is thinking of introducing digital currency. And in this case, Bitcoin has potential. I myself am a Bitcoin lover. I also want Bitcoin to be recognized in our country. If it is officially announced and legalized, I hope people will stop buying land and stop buying gold and buy and hold Bitcoin.

[BALIK]

If bitcoin is legalised in my country and can be used to purchase anything I don't think I will be willing to spend my bitcoin to get things always because I see bitcoin so value thst I don't need to spend it but instead to hodl it.

Since there is a Fiat currency,  i will prefer to spend my traditional currency and keep hodling my bitcoin for the future . I think this may the reason why many are not really spending their bitcoin because they prefer to hodl it than to spend it.

This is what I was thinking too. Although many people hope that bitcoin will be able to become a currency one day. But are we willing to spend bitcoin to buy something? I guess there will be some people who use bitcoin for payments but just out of curiosity, and then not many people will want to do so anymore because everyone knows that spending an appreciating asset like bitcoin is a waste.

Likewise, if my country legalized bitcoin as a currency, I would also not want to spend and use BTC as a means of payment instead of fiat. Honestly, I don't see any benefit in using bitcoin just to pay bills during the day.

[Dzwaafu11]

There are so many different rules in different countries, sometimes even BTC is banned, yet there are still BTC transactions in these countries. How does it work? Is it easy to sell btc in your country, or to buy something with it? What have you bought, for example? Or what are you planning to buy?

Although Bitcoin isn’t yet legalised in my country, so we find it difficult to purchase something in a physical shop, but some shops accept Bitcoin as a means of payment, like shops where they sell gadgets. They do accept it, but aside from them, I haven’t seen any other store that accepts Bitcoin as a means of payment in my country.

However, me personally, I don’t really like buying stuff using bitcoin as a means of payment because I see bitcoin as a digital asset. I believe its value will increase in the near future, so I don’t really want to spend my bitcoin after I have already invested in it because of how it works.

[mirakal]

There are so many different rules in different countries, sometimes even BTC is banned, yet there are still BTC transactions in these countries. How does it work? Is it easy to sell btc in your country, or to buy something with it? What have you bought, for example? Or what are you planning to buy?

Its not easy actually. There are only selected shop owners who only accept bitcoin and majority still prefer the fiat currency. However, it would be quite easier to purchase stuffs using bitcoin online. But when it comes to our own place or locality, since bitcoin isn’t that famous yet, people still prefer to use fiat and ignore bitcoin.

[yhiaali3]

Unfortunately, Bitcoin is still banned in my country, and there's no way to buy anything with Bitcoin in my country.

The only way I can buy it is to exchange Bitcoin for dollars via P2P and then purchase the items I want. Direct purchases are not available.

[leonair]

There are so many different rules in different countries, sometimes even BTC is banned, yet there are still BTC transactions in these countries. How does it work? Is it easy to sell btc in your country, or to buy something with it? What have you bought, for example? Or what are you planning to buy?

In my country I can use Bitcoin very easily and I can do many parcels using Bitcoin. Bitcoin is now known as a very powerful and valuable asset all over the world. So now the whole world thinks about Bitcoin. So those who are starting a new business or those who have technical knowledge will not hesitate to accept Bitcoin as a payment. Yes, Bitcoin has not been given legality in many countries yet. These countries will always be behind. They themselves know this but their financial structure is not yet enough to give Bitcoin much legitimacy, which is why they are not thinking deeply about Bitcoin yet. But I am happy that my country is already very worried about Bitcoin. And we can use Bitcoin legally

[_BlackStar]

I tried to and it doesn't work, even now that Bitcoin is more common among the youths and the old, they choose to not spend their Bitcoin but hold for more value in future.

At one time I put a signboard about my business with Mark that Bitcoin is accepted here but I was warned by people to put it down because of bad people who can come looking for victim to prey on.

The Bitcoin acceptance option is still open in my business till today but it keeps getting boring and boring every time because no one want to use Bitcoin as payment option anymore.

If your country has legalized bitcoin as a form of payment - then you can still expect that the change in people's behavior in transacting will benefit your business in the future. It is true that many people only use bitcoin as an investment or store of value - but bitcoin is a currency that can be used to pay for anything in a country that has legalized it.

However, regarding the criminal risk that you may face - that is something that you may or may not be able to ignore. Many businesses that accept fiat also consider the same risk - but I am not sure what causes businesses that accept bitcoin as a form of payment to have a high level of criminal risk.

[Issa56]

There are so many different rules in different countries, sometimes even BTC is banned, yet there are still BTC transactions in these countries. How does it work? Is it easy to sell btc in your country, or to buy something with it? What have you bought, for example? Or what are you planning to buy?

Central bank of my country banned bitcoin during the previous administration, but the current administration is crypto friendly, but people are not really accepting bitcoin in their shops and store, everyone is still scared, because they don’t know if the next president which will be coming will be crypto friendly, but currently bitcoin awareness is really spreading in my country, people are investing in bitcoin on a daily basis, but the issue is that they are not really accepting bitcoin in their business.

I know later in future, people will start accepting bitcoin in their business, and maybe most of the business owners have little knowledge about bitcoin, or maybe they are scared that the government will come for them later in the future. Actually it’s really easy to cover BTC into fiat currency, because most of this exchanges are having p2p, so you can easily make use of it.

[skarais]

Until now, my country still prohibits bitcoin and all foreign currencies as legal tender. Each of you who want to make a transaction, then you must first convert to fiat to be legally valid. So of course, bitcoin is not a means of payment in my country, but trading and investment are legalized. I have never blamed the government for its policy towards bitcoin so far, but in the future I hope they can consider bitcoin as a payment option instead of just using fiat.

It is indeed very difficult to completely ban transactions, so there are always transactions between two or more users who use bitcoin as a means of payment. They do not do it in public to avoid breaking the law, so it is done secretly.

[blockman]

There are so many different rules in different countries, sometimes even BTC is banned, yet there are still BTC transactions in these countries. How does it work? Is it easy to sell btc in your country, or to buy something with it? What have you bought, for example? Or what are you planning to buy?

It's easy to sell Bitcoin here because we've got exchange that you can automatically convert it into the local fiat that we have. That's why when I've started with investing into this market, I've made sure that it'll be easy to take profits whenever I want. And as for buying something with it, it's easy too and before, I've personally spent some small amounts of BTCs (or probably they're a lot now because of its current price) purchasing on online e-commerce stores. But I think that they're using a third party payment for it that if I pay BTC to that product, the payment processor automatically converts it into fiat going to that store.

And the ones that I've bought with BTC directly were just merch/clothing that I've happily bought and received it after a few days of purchase. So, the payment processor work well but I cannot see that kind of payment anymore when I'm about to purchase. Thus, I won't also pay these goods with BTC anymore because I am eager to hold it for now and waiting for a better price before selling again. And that is what I think the others are thinking as well.

[bubilas]

I don't like the fact that you can't pay for all services and goods with Bitcoin directly. In the countries where I live, you always have to first convert Bitcoin into stablecoins, and then into local currency.
Because of this, conversions occur, due to which the initial amount of cryptocurrency decreases, and all ways of withdrawing money become visible to tax authorities, and this is something that no crypto user likes. I hope that adoption will go faster in the coming years.

[FortuneFollower]

I don't like the fact that you can't pay for all services and goods with Bitcoin directly. In the countries where I live, you always have to first convert Bitcoin into stablecoins, and then into local currency.
Because of this, conversions occur, due to which the initial amount of cryptocurrency decreases, and all ways of withdrawing money become visible to tax authorities, and this is something that no crypto user likes. I hope that adoption will go faster in the coming years.

Most of the countries out there still consider such an option as unacceptable; We are only reaching the status of BTC where it is seen as an investment, so we need to wait for a while before it becomes an alternative it should be.

[CryptoBuds]

I hope that adoption will go faster in the coming years.

Bitcoin adoption is still ongoing and has even accelerated in recent years, and as a result we have bitcoin ETFs and strategic bitcoin reserves. But it is moving towards becoming a commodity, an asset, rather than becoming a currency. And I don't think this will change in the future because it will be very difficult for governments to accept and legalize a currency that they don't control. Because that is not beneficial but even causes more trouble for them in managing citizens.
Bitcoin will soon become popular and legal globally but it will only be used as a commodity, an asset, not a currency, a payment method, IMO.

[Justbillywitt]

There are so many different rules in different countries, sometimes even BTC is banned, yet there are still BTC transactions in these countries. How does it work? Is it easy to sell btc in your country, or to buy something with it? What have you bought, for example? Or what are you planning to buy?

Banks are still restricted from aiding bitcoin transactions in my country. But there is no outright banning of bitcoin activities in my country. You can still participate in bitcoin related activities but you will have to do it through P2P. The exchanges are functional and people can buy and sell bitcoin easily without much obstacles. Even when you transact in the P2P, the buyer has to be careful and not include any crypto related words in the payment description, when sending payment to the seller's bank account, to avoid any potential account restriction, from the seller's bank. There are few businesses that accepts bitcoin in my area, especially night clubs. I haven't patronised them with bitcoin, but I may in the future.