LebGeeks

duke-of-bytes

Member

Re: Bitcoin in Lebanon

I can sell bitcoins for fresh cash dollars

What should I have first?
What kind of Wallet? or which application to hold the coins in it?

there are tons of free wallets , bitcoin is rarely used in Lebanon , i doubt it will be any good for you for your daily use

Dan28

Member

Re: Bitcoin in Lebanon

Hello,
Is there anyone here who knows how to create a trusted bitcoin wallet in Lebanon

if you want a mobile wallet only use opensource ones like mycelium and bluewallet.
use mycelium if you have android and bluewallet if you have iphone.
dont store the recovery seed in a digital file or something connected to the internet, write it on a paper and store it in a safe place, if you lose you lose your coins if you delete the wallet or change your phone.
you are ready to send and receive bitcoins right after you install and note down the recovery seed, also do a test send like 1-5$ to your wallet, wipe it and restore it for the peace of mind.
you can also see this site bitcoinduliban.org for more information, and their telegram group is very helpful.

farouq3d

Member

Re: Bitcoin in Lebanon

Hello,
Is there anyone here who knows how to create a trusted bitcoin wallet in Lebanon

if you want a mobile wallet only use opensource ones like mycelium and bluewallet.
use mycelium if you have android and bluewallet if you have iphone.
dont store the recovery seed in a digital file or something connected to the internet, write it on a paper and store it in a safe place, if you lose you lose your coins if you delete the wallet or change your phone.
you are ready to send and receive bitcoins right after you install and note down the recovery seed, also do a test send like 1-5$ to your wallet, wipe it and restore it for the peace of mind.
you can also see this site bitcoinduliban.org for more information, and their telegram group is very helpful.

Thanks a lot, many people advised me to contact bitcoinduliban, but I didn't bcz they are Lebanese LOL
I think I'll go with them, let's see

Dan28

Member

Re: Bitcoin in Lebanon

Thanks a lot, many people advised me to contact bitcoinduliban, but I didn't bcz they are Lebanese LOL
I think I'll go with them, let's see

they are lebanese yes, its an educational site and group, no one will ask you for money or btc, as a matter of fact, they do free btc drops from time to time, the main goal is to help as many ppl to get out of the system and have complete control over their money.

jibbo

Member

Re: Bitcoin in Lebanon

Where do you buy bitcoin?
The few places i tried had a convoluted sign up process and wasn't able to continue somehow.
(I am located in turkey at the moment)
Any place you trust and have tried ?

bitcoinmonkey

Member

Re: Bitcoin in Lebanon

Hi,
I am interested in bitcoin and other cryptocurrencies mining
I can reach several interested investors with resources
Is anyone here interested, or can offer technical knowledge?

Johnaudi

Member

Re: Bitcoin in Lebanon

Not a good investment for a lot of reasons. The boom is temporary due to the new legislations from the U.S. as well as some tax evasion schemes.

There is a way to maximize profit though, and that is by mining the most profitable coin per day and selling it for USD on that very same day, check out NiceHash (if I recall well)

bitcoinmonkey

Member

Re: Bitcoin in Lebanon

That is, in fact, good.
The U.S, legislations are staying aren't they
So, it is a good way to make some profit.
I am still here for advice
Do you have some experience in mining?

Johnaudi

Member

Re: Bitcoin in Lebanon

Are you looking to mine on ASICs or GPUs?
I have some experience in that field yes, but nothing too special.

duke-of-bytes

Member

Re: Bitcoin in Lebanon

crypto mining is just another way to keep killing mother earth .. just using energy for nothing

anayman_k7

Member

Re: Bitcoin in Lebanon

crypto mining is just another way to keep killing mother earth .. just using energy for nothing

This rules can be applied on most of the industries currently, you don't have to be Mariam Nour about it, people want to make money that's it

duke-of-bytes

Member

Re: Bitcoin in Lebanon

crypto mining is just another way to keep killing mother earth .. just using energy for nothing

This rules can be applied on most of the industries currently, you don't have to be Mariam Nour about it, people want to make money that's it

most of the mining are being done by huge mining farms , not your average joe .and most are run on polluting electricity .. crypto is not necessary .. mainly used for cyber crime .. can you buy a pizza with bitcoin in Lebanon ? nop

soon the bubble will burst anyway

potato

Member

Re: Bitcoin in Lebanon

crypto mining is just another way to keep killing mother earth .. just using energy for nothing

This rules can be applied on most of the industries currently, you don't have to be Mariam Nour about it, people want to make money that's it

most of the mining are being done by huge mining farms , not your average joe .and most are run on polluting electricity .. crypto is not necessary .. mainly used for cyber crime .. can you buy a pizza with bitcoin in Lebanon ? nop

soon the bubble will burst anyway

Well said.
Just want to add bitcoin in lebanon is all about sell. you wont find anyone that buys regularly. Youll need to wait for someone to actually contact you (if you are lucky) and physically meet and do the transaction. Thats how bitcoin scenary in lebanon.
If there is a way to transfer your bitcoin to your fresh dollar account without the need on someone doing the hard from outside then bitcoin could kick off brilliantly in leb.

RandomMemory

Member

Re: Bitcoin in Lebanon

Why 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.

Victor

Member

Re: Bitcoin in Lebanon

Trading Bitcoin is banned in Lebanon by the central bank, probably why your card isn’t working. Also heard of banks and money transfer offices stopping incoming transfers related to selling bitcoin.

You might be able to get around this issue by using your card to fill money in one of those online cards...

Last edited by Victor (February 13 2021)

RandomMemory

Member

Re: Bitcoin in Lebanon

I have a payoneer card that I get my paycheck on and binance isn't working on it -.-
Buying crypto is legit one of the hardest things that I tried to do this month if not impossible.

Last edited by RandomMemory (February 14 2021)

NuclearVision

Member

Re: Bitcoin in Lebanon

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

samer

Admin

Re: Bitcoin in Lebanon

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.

NuclearVision

Member

Re: Bitcoin in Lebanon

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.

RandomMemory

Member

Re: Bitcoin in Lebanon

I 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.

tricky

Member

Re: Bitcoin in Lebanon

Why 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.

NuclearVision

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.

tricky

Member

Re: Bitcoin in Lebanon

<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/

Last edited by tricky (February 15 2021)

Tech Guru

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

Last edited by Tech Guru (February 15 2021)

kareem_nasser

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?