LebGeeks

RandomMemory

Member

Re: Bitcoin in Lebanon

neither work in lebanon

kareem_nasser

Member

Re: Bitcoin in Lebanon

neither 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.

HzSamer

Member

Re: Bitcoin in Lebanon

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?

Binance works fine with no issues.

elserge82

Member

Re: Bitcoin in Lebanon

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

What service for linking your crypto are you using?
I would appreciate also mentioning the virtual card provider you're using.

NuclearVision

Member

Re: Bitcoin in Lebanon

breaking: bitcoin crashed wiping 10k from value.

tricky

Member

Re: Bitcoin in Lebanon

breaking: 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

Member

Re: Bitcoin in Lebanon

you have a point, what makes it so unstable?

Destermayor

Member

Re: Bitcoin in Lebanon

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.

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

ralphbr

Member

Re: Bitcoin in Lebanon

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?

nosense

Member

Re: Bitcoin in Lebanon

go to https://localbitcoins.com/ and sell your bitcoins to someone in lebanon and take cash

VipModz

Member

Re: Bitcoin in Lebanon

does anyone sell USDT in Lebanon?

ironman

Member

Re: Bitcoin in Lebanon

@VipMoz, there are many groups on telegram that sell USDT in Lebanon

DNA

Member

Re: Bitcoin in Lebanon

does anyone sell USDT in Lebanon?

i can sell you 100 tether

edit: to binance wallet as fees are high for tether

Last edited by DNA (March 14 2021)

Tech Guru

Member

Re: Bitcoin in Lebanon

What is the best software for crypto mining (ETH)  with an easy yet efficient GUI ?

Thank You

az09za90za

Member

Re: Bitcoin in Lebanon

What is the best software for crypto mining (ETH)  with an easy yet efficient GUI ?

Thank You

i personally use gminer for windows mining and HiveOs for my mining rig. the only software on windows with good GUI is nicehash,

Tech Guru

Member

Re: Bitcoin in Lebanon

Hello,
How I can withdraw BTC from NiceHash and sell them in Lebanon? Which Bitcoin wallet is recommended to use, be eligible ,and working here ? I know Coinbase doesn't support Lebanon.

Last edited by Tech Guru (April 10 2021)

Nemesis-301

Member

Re: Bitcoin in Lebanon

What is the best software for crypto mining (ETH)  with an easy yet efficient GUI ?

Thank You

i personally use gminer for windows mining and HiveOs for my mining rig. the only software on windows with good GUI is nicehash,

just a note that nicehash pays in btc, but you can exchange it for eth or many different cryptos for a small fee (0.5%)

edit: speaking of nicehash has anybody tried buying hashpower from their website?

Last edited by Nemesis-301 (April 12 2021)

LifeEngineer

Member

Re: Bitcoin in Lebanon

I have near zero info about mining but I have a gaming PC (GTX1080).
The question is "is it worth it mining on my gaming PC say around 16 to 20hrs/day when I'm not gaming?"

yourlocalfbiagent

Member

Re: Bitcoin in Lebanon

I have near zero info about mining but I have a gaming PC (GTX1080).
The question is "is it worth it mining on my gaming PC say around 16 to 20hrs/day when I'm not gaming?"

hey i have an msi 1060 6gb and  i have been mining on it for the past month at 24-25mh/s (overclocked)and  made around 55 to 60$.
so in my opinion its worth it. also i kow that with nicehash they have something that will boost 1080 hashrate by 50% so check it out on there forums.

yasamoka

Member

Re: Bitcoin in Lebanon

I have near zero info about mining but I have a gaming PC (GTX1080).
The question is "is it worth it mining on my gaming PC say around 16 to 20hrs/day when I'm not gaming?"

hey i have an msi 1060 6gb and  i have been mining on it for the past month at 24-25mh/s (overclocked)and  made around 55 to 60$.
so in my opinion its worth it. also i kow that with nicehash they have something that will boost 1080 hashrate by 50% so check it out on there forums.

Did you factor in power consumption?

Nemesis-301

Member

Re: Bitcoin in Lebanon

I have near zero info about mining but I have a gaming PC (GTX1080).
The question is "is it worth it mining on my gaming PC say around 16 to 20hrs/day when I'm not gaming?"

hey i have an msi 1060 6gb and  i have been mining on it for the past month at 24-25mh/s (overclocked)and  made around 55 to 60$.
so in my opinion its worth it. also i kow that with nicehash they have something that will boost 1080 hashrate by 50% so check it out on there forums.

Did you factor in power consumption?

considering we pay the electric bills in lbp, and $1 = 12500 lbp, I'd say its a minor cost

yourlocalfbiagent

Member

Re: Bitcoin in Lebanon

I have near zero info about mining but I have a gaming PC (GTX1080).
The question is "is it worth it mining on my gaming PC say around 16 to 20hrs/day when I'm not gaming?"

hey i have an msi 1060 6gb and  i have been mining on it for the past month at 24-25mh/s (overclocked)and  made around 55 to 60$.
so in my opinion its worth it. also i kow that with nicehash they have something that will boost 1080 hashrate by 50% so check it out on there forums.

Did you factor in power consumption?

for me no, but i ran an online calculator on the 1080 hashrate which is 36.6 mh/s at 128w, at 0.083$ perkwh at lbp rate 12,000 thats about 6.31$ a day in profit with 0.25 cents in power.
do keep in mind that you can also overclock to get more

Last edited by yourlocalfbiagent (April 16 2021)

LifeEngineer

Member

Re: Bitcoin in Lebanon

Ok, so any good video/guide, and simple enough, to start mining on a personal PC?

And the important question is where is that money stored and from where / how to retrieve it if our banks don't allow it?

Last edited by LifeEngineer (April 17 2021)

yourlocalfbiagent

Member

Re: Bitcoin in Lebanon

well to mine i suggest nicehash if you are mining on only 1 or 2 pcs and not a mining rig since its easy to use and can payout easily and it gives you the money every 4 hours and a min of 1000 satoshis and you can transfer them from nicehash wallet to an external wallet like 50,000 satoshis min to coinbase and 100,000 satoshis to a private wallet directly or do as i do and use the exchange(min 10,000satoshis)and buy xrp and transfer it as it has a smaller min amount of 20.5xrp and a low fee of almost nothing and then transfer it back to any coin you want.

yourlocalfbiagent

Member

Re: Bitcoin in Lebanon

i transfer my funds to binance to trade various coins and the nicehash exchange only takes 0.5%fee to convert. and as for the cashing out option you can sell it at various offices in lebanon at low fees of 2% to around 10% depending on the amount and place