Warnings about buying Bitcoin Legal problems in your country

[Maaz sultan 265]

There are so many countries that prevent their peoples to use any of crypto currency because of avoiding any illegal activity we know that these crypto currencies are decentralize and the identity of person is not traceable .

[cryptovlek 2597]

 

On 10/20/2019 at 12:35 AM, chirinemannai said:

Bitcoin is only illegal in Vietnam, Iceland, Bolivia, Ecuador, Kyrgyzstan and Bangladesh.

Chna is not in this list? Also Pakistan I think it had banned Bitcoin a few years ago. It is only a few countries that have banned Bitcoin but if China changes the stance it will be the end of bans. I dont' think it will but we have to keep hoping that one day there will be a change of mind.

Edited December 23, 2020 by cryptovlek

[Lokeloke 576]

On 10/19/2019 at 10:35 PM, chirinemannai said:

Furthermore, if the theft of cryptocurrencies occurs because of a security breach or password error by the user, there is no guaranteed way to get the money back. Some banks even refuse to work with money obtained through cryptocurrency transactions because of regulatory uncertainty.

The financial insecurity that revolve around cryptocurrency made it hard for some people to believe in cryptocurrencies, and that's why Government cannot approve it as legal tender since they don't have Dominion over its security

[lharost 1526]

Change your IP address using VPN, VPS or any tool that can safely change your IP to use crypto and you will be fine, it's almost impossible for governments to track every single person and see if they use any tools to change their IP and use crypto, considering it will cost a lot of money to do that and doesn't make sense for them financially, in US there are many people that use bitcoin or access to crypto platforms like that right now.

 

You can not wait for the government of the country you live in to legalize crypto because many of them won't make it legal anytime soon and you really don't want to miss out on crypto train because of that.

Edited December 25, 2020 by lharost

[Abdulrahman3 1252]

It is clear that the countries that say after the legitimacy of Bitcoin or the rest of the cryptocurrency are the countries that follow a policy of fear of everything new, and this closure will lead them to an abyss in light of the rapid changes occurring in the global economy at this time.

[Sykkuno 2887]

This discussion is gone too much and too far as most of us are not going to do anything illegal, just a few people out of millions will do something illegal and we have to listen about 10 or 100 people and have to respond about their stupidity, while we are tens of millions investing in Bitcoin legally and see the asset price rising because we understand the financial changes that are coming. We don't have to justify anything, just because these people want to smuggle drugs between them or use some darknet markets that everyone of us is against and want them to go down.

[Mariya512 178]

in keeping with that my general knowledge, in even our own country, a penny isn't very legal not one black. it is not very entirely sub judice, and I feel some successful right here think about bitcoin and that they submit to interpreted a well known they don't allow bitcoin for the reason that they are going to be merchandising it all but also, it all will have an impact successful group action exempting.

[betania1 283]

BTC will always have some problems but we will not stop using it because it is a reality that BTC is not well received in some countries but this will soon change because every day we see more news in favor of cryptocurrencies that there are already countries implementing the idea of creating their own own cryptocurrency and even countries with their own cryptocurrency already developed.

[Ameralsamt 2558]

Dear many countries judge bitcoin pant illegal but they don't understand anything, that most countries are fighting encryption and cryptocurrencies all over the world but soon they're really great like Russia, they knew that cryptocurrencies are the best of course, so their popularity is growing dramatically. 

[Obliv0n 333]

In my country, the regulations do not contemplate purchases related to cryptocurrencies, at least not small ones, it is a legal vacuum that many use for we already know that, however, as long as they are not alarming amounts, the government tolerates everything, purchases, sales and loans.

[Syriana 350]

In my country, many people have started using cryptocurrencies and their values to collect them, but the matter to exchange them now takes some time and no taxes or penalties have been imposed on the use of cryptocurrencies, and we strive hard to be legal in the country.

[Goopang 202]

Bitcoin attract the people especially mostly youtubers created fake videos on bitcoin due to which it gets more status and day by day people joining it and started searching about it number of people earning on the only name of bitcoin so think that a real trader can earn how much by bitcoin congratulations to all that we all are at right stage. 

[Yuri Nurov 227]

In my own country the currency is growing gradually because sometimes back ransom was paid using the cryptocurrency and government is working tirelessly to see that its become a legal tender 

[Choudhary umer 0]

This is very sad for you because the trading of the cryptocurrency is important but I am hopeful in the future that cryptocurrency and Bitcoin is legal in your country so you should not to give up try your best

[Quickbee 26]

It is quite unfortunate that most countries in the world have a cold attitude towards Cryptocurrency. Very few countries have accepted Cryptocurrency in its existing form. Some countries have not taken a clear stand on it. I hope very soon all countries accept and legalize Cryptocurrency as long as it is not used for illegal items.

[korobi909 193]

There is no warning about legal issues in Bitcoin in your country because Bitcoin is not illegal. It is a digital currency and not illegal or not valid again. If the government supports Bitcoin and takes legal action, no one can drive it illegally. We will have all kinds of opportunities and there will be no legal warning.

[MoralStories 1127]

is the governments of most of the countries do not find it legal to use Bitcoin cryptocurrency that means they do not consider it the currency at all so you should be careful if you buy it

[Mariya512 178]

flourishing country bitcoin isn't always in employment. some ways so exchange to get it all cash. in truth, only a few peoples sleep with in addition to detect primary coin. It greatly takes chances that one may buy bitcoin we tend to cant very much love about owned real property.

[abdullah553 1981]

On 10/20/2019 at 12:35 AM, chirinemannai said:

Bitcoin certainly attracts the attention of law enforcement agencies, tax authorities and legal regulators. What they are trying to understand is how cryptocurrencies fit existing frameworks. How legal Bitcoin activities are depends on who you are, where you live and what you do with them. Basically, the answer for most countries is simple: if you don't spend your Bitcoin currencies on anything illegal, you don't violate any laws.

Bitcoin has been around for some time now, so most governments have had time to decide on their legitimacy. As of September 2017, Bitcoin is only illegal in Vietnam, Iceland, Bolivia, Ecuador, Kyrgyzstan and Bangladesh. Some other countries have not taken an official position on the issue, while Thailand and Russia initially banned all cryptocurrencies, but retreated shortly after. More recently, Russian authorities have officially recognized Bitcoin and all other cryptocurrencies in order to combat illicit transactions (Vedomosti).
Protection risks

It is worth noting that while the identity requirements imposed by most stock exchanges and the preservation of their users are established, these services do not provide the same level of protection as banks. For example, if a stock exchange goes bankrupt or is stolen by hackers, the insurance of users' funds is often very limited or nonexistent at all. This was the case with the failed Chinese stock exchange MTGox, which formally filed for bankruptcy protection and admitted an irrevocable loss of 75,000 from Bitcoin to its customers. Since Bitcoin has no legal status as a currency in most parts of the world, authorities are usually unsure of how to handle thefts. There have been cases of larger exchanges replacing the money of their clients after the theft of the exchange itself, but at this stage of Bitcoin development, they are not legally obliged to do so.

Furthermore, if the theft of cryptocurrencies occurs because of a security breach or password error by the user, there is no guaranteed way to get the money back. Some banks even refuse to work with money obtained through cryptocurrency transactions because of regulatory uncertainty.

 

 

I really think that there are a lot of problems in several countries because of the purchase, and that it is related to illegal business in my country. We are not really allowed to buy it, and we can be pursued through the police or security.

[celeste10 251]

Countries must update to prevent people from going to the digital market and leaving conventional trade aside, that is, I believe that the system must evolve to a digital age since we have many reasons to do both to avoid the corona virus and to obtain the benefits that cryptocurrencies offer.

[Pereira 2303]

Many organizations in the world did not accept bitcoin due to the failures that could bring their companies to use this form of payment, since it is almost impossible to track its transactions, but now they are now aware of the new network updates of blockchain and began to take hands on this matter and many agreements were reached which accept cryptocurrencies as payments, but under their own responsibility of losing assets if the user makes the transaction wrong, this policy prevents the company from having to do repayments of lost assets.

[Nersreem 279]

My country have not allowed bitcoin to be used fully, but there is no any banning or restriction to Crypto users. Which hopefully we want the government to fully adopt using cryptocurrency in the country. 

[teebasas 3018]

Yes, indeed many countries have attended the circulation of any purchase and sale of bitcoin within their borders, but in my country this decision has not yet been implemented, so it is not valid and there is no problem.

[Samer1997 715]

Yes, this matter greatly affects the spread of cryptocurrencies, so that these reasons make people not confident in converting their money to cryptocurrencies, and they have nothing to protect them from theft and fraud, and the great fluctuation in the price of these currencies is also a fear among people

[Dadouasaad123 902]

This is really unfortunate, many users like me do not recognize cryptocurrencies, they may not express an opinion about it, but no one will recover your money if it is stolen, in addition to that there is no atm to exchange your cryptocurrencies, this matter reduces cryptocurrency users in these  Countries .