Lebanese Banks Capital Control

@random-username btw an easier method is to buy the 100$ prepaid mastercards on amazon and load them to your paypal account.

Amazon did not remove the currency conversion.
It always gives me the option to pay in USD or LBP.
And it is charging 1579LBP for 1USD.

I would give this a go, but I do not need anything at the moment nor can I afford it.

Maybe someone else can give it a go and share the result.

Since they're not putting controls on online purchasing with LBP, this was we can buy anything we want on Amazon for 1579 LBP for the dollar.

Dan28 wrote

random-username wrotethe entire paxful verification process is a pain in the ass. Government issued ID + utility bill + selfie with a camera.

another method is to signup on https://purse.io/earn/btc

its a site where users put stuff from amazon in a wish list, you go buy it for them with your lebanese card and get paid in bitcoin.
the site uses escrow system and its pretty easy to use.
i think you can use lbp, amazon added that option recently, it asks you to choose which currency to pay with "lbp or usd".
if you can pay with lbp on amazon "exhange rate 1515" you dont lose money and even make a profit.

EDIT: it seems that amazon removed this option :(

Amazing, thank you so much for this link. I'm new to crypto and already in love with it. Gives you so much freedom.

AVOlio wroteIt always gives me the option to pay in USD or LBP.

yes same here, but it didnt work this time, maybe its something in my cart, ill check again later.

And what do you guys do with your bitcoins?

NuclearVision wroteAnd what do you guys do with your bitcoins?

You can sell them at the black market price for 5%.

Johnaudi wrote

NuclearVision wroteAnd what do you guys do with your bitcoins?

You can sell them at the black market price for 5%.

is it legal though?

NuclearVision wrote

Dan28 wrote

random-username wrotethe entire paxful verification process is a pain in the ass. Government issued ID + utility bill + selfie with a camera.

another method is to signup on https://purse.io/earn/btc

its a site where users put stuff from amazon in a wish list, you go buy it for them with your lebanese card and get paid in bitcoin.
the site uses escrow system and its pretty easy to use.
i think you can use lbp, amazon added that option recently, it asks you to choose which currency to pay with "lbp or usd".
if you can pay with lbp on amazon "exhange rate 1515" you dont lose money and even make a profit.

EDIT: it seems that amazon removed this option :(

Just a quick follow up, i followed this method and got the option to pay in LBP, one issue though, purse.io charges 37%, the offers were at 5% rate when before i signed up, 37% after i sign up.

Yeah I didn't use purse because of that. You need a bunch of transactions at extremely high rates before getting down to the 5% ones.
I went the giftcard route on Paxful and am currently doing so for several ex-colleagues in lebanon.
If you know what you're doing and are willing to speculate you can make back the roughly 10% loss in value from doing the giftcard option, since crypto is so volatile it swings 5-10% almost each day.
I'm depositing the funds straight into my Canadian checking account on the tune of 600 USD a day.

NuclearVision wrote

random-username wrote

NuclearVision wrote Just a quick follow up, i followed this method and got the option to pay in LBP, one issue though, purse.io charges 37%, the offers were at 5% rate when before i signed up, 37% after i sign up.

Yeah I didn't use purse because of that. You need a bunch of transactions at extremely high rates before getting down to the 5% ones.
I went the giftcard route on Paxful and am currently doing so for several ex-colleagues in lebanon.
If you know what you're doing and are willing to speculate you can make back the roughly 10% loss in value from doing the giftcard option, since crypto is so volatile it swings 5-10% almost each day.
I'm depositing the funds straight into my Canadian checking account on the tune of 600 USD a day.

Did you try to sell on Amazon? then buy it with LBP, get your self the dollars? I am not familiar with selling on amazon, so no idea about feasability

I don't have an LBP card. Pretty sure amazon takes like a 15% cut as well, and I'm sure takes a cut too.
So I'm better off just doing the giftcard option.

What gift cards are you buying? All I can find are 30% or more....

Update : BoB lowered the international limit on USD credit cards from $1000/day up to $2000/week to $250/ week up to $1000 /month.

This is BS... I'm raging right now because I received an international transfer in EUR that I can't use.

They don't have Fresh money accounts so in other words, the company that made the transfer, sent them the money and now it's more or less confiscated.

khanem wroteWhat gift cards are you buying? All I can find are 30% or more....

Offgamers and G2A runs you 10-12% respectively.
Offgamers is a pain in the ass to register with FYI, takes like 24 hours for them to verify your account and they ask you to upload photo ID.
G2A is a piece of cake, but you're limited to 5x 20 Eur cards per order

https://paxful.com/buy-bitcoin/with-any-payment-method/USD?fiat-min=200&group=gift-cards

Sorry for asking too much questions. I have to register with offgamers website buy gift cards from them send the sellers the codes then he transfer the Bitcoin to my wallet?

khanem wroteSorry for asking too much questions. I have to register with offgamers website buy gift cards from them send the sellers the codes then he transfer the Bitcoin to my wallet?

Pretty much. There's a flat fee for transfering bitcoin from paxful, it's around 4$. So I'm keeping my BTC there ubtil my CC is maxed out for the month, then I transfer them out

Any updates on the latest limits? I'm hearing banks are constantly changing them.

Byblos bank allows the withdrawal of $200 every 8 days for a maximum of $600 per month. I believe Audi does the same thing.

Byblos allows you to spend $100 per week or $300 per month buying stuff online, which is really problematic, not sure how one could buy stuff like hosting or pay aws or azure, companies need to pay online. I couldn't even buy the annual subscription for eversql.com and I need that for work. I'm looking to work abroad, not sure how to pay relocation fees and stuff.

Byblos and Audi have the same regulations more or less.

Not sure about Blom, my colleagues can't withdraw any USD from BLOM. But I hear that other customers can withdraw $100 or $200 per week or 8 days. Not sure. Blom does not allow any online transactions outside Lebanon in USD.

Banks are closed until the next month.