I have some money in my paypal account, never bought bitcoin before but if interested I can help.
Victor wrote

Trading Bitcoin is banned in Lebanon by the central bank, probably why your card isn’t working

No, trading is not banned by the BDL. It is not in their authority to do so. However, my understanding is that they informally asked the banks to block crypto related transactions.

I believe it is forbidden by law because it is 'untracable and due to its nature not subject to any regulations'.
I remember reading the law on this forum, i will try and locate it.

NuclearVision wroteI have some money in my paypal account, never bought bitcoin before but if interested I can help.
Thanks but unfortunately I'm looking for a stable way to do this, I want to buy large sums of eth every month for the next 4 months.
RandomMemory wroteWhy is bank audi blocking binance.com?

Why in god's name would they block binance. Using my fresh money card it says "your card is not allowed to perform international transactions" when it works on every single other site except binance.
I dont think its just a Lebanese thing, my Canadian bank doesnt allow crypto via credit card. I think banks are trying to restrict crypto purchase as much as possible even tho legally we are allowed to purchase bitcoin, its insane.
lebarmy.gov.lb wrote Consequently, the Lebanese laws do not prohibit the ownership, use, trade of cryptocurrencies, but when it comes to their acceptance as a payment method, regulations only adopt legal tenders/fiat currencies. Thus, the acceptance of cryptocurrencies by retailers, for example, can be ruled under the provisions of barter.
wikipedia wrote The government of Lebanon has issued a warning discouraging the use of bitcoin and other similar systems. Bitcoin is not regulated as it is not considered to be electronic money according to the law. Financial institutions are not allowed by central bank to facilitate bitcoin transactions.
Couldn't find the legal text.
e.matta wrote<admin edit: post removed. Please don't shill ref-links, or promote sketchy products>
I highly recommend Brave for web browsing, it has a build in ad blocker, its based on chrome. It allows you to turn on ads and it will reward you with crypto...

https://brave.com/
You can generate crypto through crypto mining. Then, link it to a virtual Visa card, and you can bypass banks' restrictions on crypto currency, at least for online purchases.

Also, there are many people in the black market who are willing to purchase BTC and ETH and pay you back in fresh USD
5 days later
Been looking into investing in crypto recently, and want to know on which platform should i start for a wallet at least. Exodus or Binance?
RandomMemory wroteneither work in lebanon
Seems many in the community here use binance, i think you are saying card transfers dont work (yeah banks blocked them even on fresh accounts). P2P still works from what i understood, to store you crypto.
kareem_nasser wroteBeen looking into investing in crypto recently, and want to know on which platform should i start for a wallet at least. Exodus or Binance?
Binance works fine with no issues.
Tech Guru wroteYou can generate crypto through crypto mining. Then, link it to a virtual Visa card, and you can bypass banks' restrictions on crypto currency, at least for online purchases.

Also, there are many people in the black market who are willing to purchase BTC and ETH and pay you back in fresh USD
What service for linking your crypto are you using?
I would appreciate also mentioning the virtual card provider you're using.
NuclearVision wrotebreaking: bitcoin crashed wiping 10k from value.
Bitcoin goes up and down by 10k every couple of days, wouldn't label that as breaking. It was worth 5k last year...
NuclearVision wrote
lebarmy.gov.lb wrote Consequently, the Lebanese laws do not prohibit the ownership, use, trade of cryptocurrencies, but when it comes to their acceptance as a payment method, regulations only adopt legal tenders/fiat currencies. Thus, the acceptance of cryptocurrencies by retailers, for example, can be ruled under the provisions of barter.
wikipedia wrote The government of Lebanon has issued a warning discouraging the use of bitcoin and other similar systems. Bitcoin is not regulated as it is not considered to be electronic money according to the law. Financial institutions are not allowed by central bank to facilitate bitcoin transactions.
Couldn't find the legal text.
I believe this is what you're referring to: https://www.bdl.gov.lb/news/more/5/111/65
9 days later
Guys what is the best way to transfer my bitcoins into USD fresh money account.
I have mined some bitcoins on nicehash , and reading the posts on this thread I saw that I can transfer to Binance to convert my bitcoins into USD.

But will I be able to send my USD balance to a bank account?
9 days later
@VipMoz, there are many groups on telegram that sell USDT in Lebanon