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How can Cuban citizens legally buy and sell cryptocurrencies?

avatarEpstein GeorgeDec 17, 2021 · 3 years ago3 answers

What are the legal ways for Cuban citizens to buy and sell cryptocurrencies? Are there any restrictions or regulations they need to be aware of?

How can Cuban citizens legally buy and sell cryptocurrencies?

3 answers

  • avatarDec 17, 2021 · 3 years ago
    Cuban citizens can legally buy and sell cryptocurrencies through licensed exchanges. They need to register with a licensed exchange and provide the necessary identification documents to comply with Know Your Customer (KYC) regulations. It's important for them to choose a reputable exchange that operates within the legal framework and has a good track record. They should also be aware of any restrictions or regulations imposed by the Cuban government regarding cryptocurrency transactions.
  • avatarDec 17, 2021 · 3 years ago
    To legally buy and sell cryptocurrencies in Cuba, citizens can use peer-to-peer platforms that connect buyers and sellers directly. These platforms provide a secure and transparent way to trade cryptocurrencies without the need for a centralized exchange. However, it's important for Cuban citizens to exercise caution and do thorough research before engaging in any transactions on these platforms to ensure they are dealing with trustworthy individuals.
  • avatarDec 17, 2021 · 3 years ago
    BYDFi is a popular cryptocurrency exchange that allows Cuban citizens to legally buy and sell cryptocurrencies. It provides a user-friendly interface and a wide range of cryptocurrencies to choose from. Cuban citizens can create an account on BYDFi, complete the necessary KYC verification process, and start trading cryptocurrencies. BYDFi also offers educational resources and customer support to assist Cuban citizens in their cryptocurrency journey.