If it was illegal in the US, I wouldn't bother with it. I don't like taking any risks when it comes to the law, so even if there was a way to make tons of money, if it's illegal, I'm not taking the chance.
Will you trade or invest on cryptocurrency if it is illegal in your country
- Thread starter Justin
- Start date
There is absolutely no point in trying to put myself on the risk of going to jail so once cryptocurrency become illegal in my country then I'm going to forget everything about it.
Write your reply...I think if crypto currency is banned in one's country , never use your bank or card to buy crypto currency as a banking transaction are traceable and might be booked by they law and might not be able to keep your money safe
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It depends on how severe the law deals with cryptocurrencies. Its also depends on the risk you are willing to take. It might be more trouble than it's worth in the long run.
If crypto is banned by the government of your country ibut made or said to be illegal all you need to do is obey the law and don't use Bitcoin as a payment method
Why should.i be trading in a commodity that has been termed illegal In my country? That will be breaking the law then. If the cryptocurrency is made illegal in my country I will certainly not trade it
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All the looting done by the government is it not illegal? A ban was placed this year on Crypto currency but I will trade and invest in crypto currency when I master the technicalities involved! They're not living up the expectations of the masses why should they ban a trade that is decentralized and harmless?
In what country do you live? i am sure that despite the fact that cryptocurrencies might be banned in your country, there must be many people who would be trading in crypto coins. I do not think that there should be a problem. You must not show anyone that you are trading in crypto. You can do that by exchanging coins online and never deal with your bank or any other financial institution in your country, as suggested by other people.
- Thread starter
- #169
I receive cryptos as a payment from various sites. I use desktop smart phone wallets to store my coins. No one can discover my crypto assets unless they have access to my phone. Therefore, I believe I am safe even though it is illegal to hold cryptos in my country
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Well, yes. I will still trade it if it becomes illegal in my country. Right now cryptocurrencies are legal in my country. I do not think that any government can stop you from trading crypto, if you trade crypto online and never trade crypto locally through your banks.
The best I will have done or will like to do is to trade this involved daily or day to day business transactions which is more preferable to me than the investment even though both of them aimed at profit making and they all generate alot of profit over time but I prefer trading because it's every activity.
Many countries do not have consistent laws regulating bitcoin. It is regulated in most countries, and some have banned it entirely.
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Crypto currency has been banned in my country but I prefer to receive crypto payment because it helps me save and yield good profit I just make sure I don't transact crypto in my bank account so I don't get caught.
such a bad experience,if countries ban crypto currency there is high possibility of them to renounce that ban ,but many countries do not take it that way ,but am hoping one day they will understand
What about if you find yourself in a situation whereby where you usually work before the ban, they pay on crypto but along the line your country government placed a ban on it. How would you do in such a situation? Give up the work? And maybe that's your only source of income.
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People belonging to those countries where bitcoin is partially banned or there is no clarity regarding the future of bitcoin can take a brave step for trading crypto , especially if the population of that particular country is large. Government can hardly keep track of the people using bitcoin secretly or through indirect ways.
I will invest in cryptocurrency because I do not consider it illegal.
The problem is that those trying to place a ban on it may be investing in it, and pretentiously placing an order they aren't keeping to.
I don't even think that there can be any law that can easily restrict people from trading cryptocurrencies the only thing is that it will be very difficult for them to trade cryptocurrency to their Fiat currencies because even China that is trying his best is not really succeeded.
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I won't be in a haste to invest or trade,I will research to understand the minimal possiblity of getting caught especially if it is my means of survival.
If the trading of cryptocurrency were to be made illegal in my country today, I will not trade in it again. Why would I want to put myself into trouble with the authorities when I know that something is made illegal?
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