RT @timourazhari: Long read on the people using #bitcoin to get millions of $ in and out of #Lebanon as capital controls tighten.
"Bitcoin is protected by mathematics, fiat [traditional] currencies are protected by governments. Which do you trust?"
e: i dont get why would someone want to buy bitcoin in lebanon? they cannot cash out the transactions, local services do not deal with bitcoin, i dont even know if exchangers even allow a Lebanese ID card or passport to be accepted and recognized for exchanging coins.
hmm well, if you have money you want to wire to a friend or family member outside of lebanon, adn you do not want to deal with a governement/bank imposed limit, you can buy bitcoin with your cash, and within minutes send it to anyone in the world.
fair enough except it's not that simple. Then abroad the people have to declare to the government the transaction (it's considered freelance work), pay taxes for it, pay fees which I suppose are high for this service in Lebanon. So why not simply transfer cash via whatever service like Western union?
I have been hearing people talk about these 'in person' or 'over the counter' transfers of bitcoin. What is not clear is what is actually happening. Is someone handing you a usb drive with a bitcoin wallet on it that contains the bitcoin? Are you somehow using an online exchange that the Lebanese can access/use? Those who are proud to talk about bitcoin always leave an ocean of information out. Do you want universal adoption or not?
what you do is go to [localbitcoins.com](https://localbitcoins.com) aka LBC (very lebanese imo) and find someone who is selling locally. You meet them in a place that has wifi, and using a "wallet app" on your phone you send or receive bitcoin in exchange for cash. Very simple process.
no one can choose for you when it comes to crypto and how you store your crypto. I can suggest you check r/cryptocurrency but its a toxic sub but do read through it. Also [here is a comment of mine](https://www.reddit.com/r/CryptoCurrency/comments/f4zv7p/daily_discussion_february_17_2020_gmt0/fhx1ghu?utm_source=share&utm_medium=web2x) that talks more about wallets and gives good suggestions. Reason people recommend that you do your own search when it comes to crypto is because there are so much false information from people online that want to shill their coin, many spam or malicious sites etc. So always research whatever you would use. Good luck :)