Cryptocurrencies have come to stay. Many people around the world have adopted the use of cryptocurrencies, although conservative governments still resist their use. Hope is not lost for citizens of countries where governments imposed bans on the use of cryptocurrencies. One reason raised by governments to ban the use of cryptocurrencies is the fear of the upsurge of terrorist activities in their countries. However, these bans do no better in solving their fears. People from a country can cross borders and register their cryptocurrency accounts in neighbouring countries. The adoption of cryptocurrencies cannot be stopped by the imposition of bans. Rather, countries should leverage on the wealth creation capability of cryptocurrencies. Fighting the adoption of cryptocurrencies is like fighting the essence of democracy and human rights. Governments have the right to make their decisions but cannot stop the winds of global financial changes.
Having said this, what hope is there for residents who live in countries where cryptocurrencies have been banned? The best option, for now, is the use of peer-to-peer exchanges. With peer to peer exchanges, people in countries with bans can easily trade in cryptocurrencies. After registering on peer-to-peer exchanges, they can trade. The good thing is that money may not leave the country. People within a country exchange money using their local means such as banks. Yet, the crypto coins are exchanged online. Everything is secure. One of the global leader in peer-to-peer exchange is LocalEthereum although it only deals with ethereum. Anyone, anywhere in the world can trade in ethereum on this site. Remitano is another giant in the peer-to-peer exchange of cryptocurrencies, although it is limited in scope. It does not cover all countries, neither does it cover all cryptocurrencies. Remitano, seems to cover most countries where there are bans of use of cryptocurrencies. It covers, the entire African continent and some Asian and European countries. However, It mainly deals with USD, Ethereum and bitcoin, among others.
Using peer-to-peer exchanges is vital to bypass restrictions in trade in cryptocurrencies. At times, people find pleasure in using unregistered cryptocurrency dealers, who are usually individuals, but this increases the cost of trading and eventually reduces profitability. Having discussed the peer-to-peer opportunity in cryptocurrency trading, I wish to introduce the role of Payeer in facilitating trade in cryptocurrencies. Payeer uses both fiat and cryptocurrencies. People can cash out through various means such as the MasterCard. Payeer also offers Swift service. This overrides the effect of any country’s ban on transactions in cryptocurrencies. Thus any citizen of the world can benefit from the advent of cryptocurrencies.
