Binance users - What have you done?

[chelsea2018]

@richard161171 Cool, thanks for the info.

 

[candi12]

@chelsea2018 I already liquidated half of my USDT, the rest I stake at binance for 17% annual return through the EARN tab. Ill see if we can still use VPN to access it when the ban starts

 

[debra21]

@candi12 I heard binance doesn't allow vpn. Haven't checked if true tho.

 

[joyathome]

@debra21 it's true. binance themselves advise that they ban vpn users

 

[chelsea2018]

@candi12 What VPN will you be using if ever?

 

[candi12]

@chelsea2018 my colleague shared his paid proton vpn account with me, Can connect with 71 countries din. Mamimili na lang ako dun. Argentina would be a good pick IF pwede pa mag VPN kay binance.

 

[chelsea2018]

@candi12 Oh good pick, Argentina is pretty open to crypto.

 

[bellavoce7]

@chelsea2018

1. P2P sell all my BTC.
2. Transfer from Binance App to GoTrade. Buy BTC ETF

 

[chelsea2018]

@bellavoce7 Interesting take, onga noh may BTC ETF play nga pala

 

[georgeskutt]

@bellavoce7 You are fine with paying around 2% for fees on ETF? Instead of buying BTC directly?

 

[bellavoce7]

with all the uncertainties on how US Banking industry and government treats BTC, “legal” way of obtaining BTC thru ETF with 2% is ok if your profit is in way acceptable level.

FUD News, Sen Warren constantly saying BTC is for Criminal acts, banning self custody, cases against Binance and CZ. Philippine banks chasing crypto activities, yeah, 2% is fine with me, peace of mind + 6 digits profit

 

[rylt]

@bellavoce7 A huge benefit for self custody though would be protection of your Bitcoin in the event of a solar flare which is a rather likely occurrence we'll have within the next 50-100 years, and which I recently read an article saying the US expects one around 2025.

A big solar flare like the Carrington event would likely destroy most people's at home electronics, and would threaten to destroy databases of information and electronic equipment used by businesses and even governments if they do not properly prepare within the 24 hours before the solar flare.

If you buy the ETF, you'll have to accept the risk of losing your Bitcoin as the exchange might lose the records that you own it.

Bitcoin for me is personally a hedge against catastrophes like this, so in the event I lose all my stocks due to electronic failure, I still retain ownership of my Bitcoin assuming I have self-custody with a seed phrase.

 

[patchygirl1964]

@chelsea2018 I use ByBit now then will go back to Binance once it is confirmed that they will not be blocked here in PH.

A big NO, NO on local echanges because of high spread and high gas fees when transferring coins to other wallets.

 

[whwvekwk]

@patchygirl1964 101% Don't support local exchange sa PH

 

[mauricio512]

@patchygirl1964 i'm late in the game. okay pa ba si bybit?

 

[patchygirl1964]

@mauricio512 Yes

 

[z]

@patchygirl1964 Sana wag maban si bybit hayys. May listahan daw ng ibaban si putang SEC

 

[remnantsoftruth]

@chelsea2018 Moved all my funds to bybit! feels the same tbh. Easy move

 

[chelsea2018]

@remnantsoftruth Thanks for the info. I'm hearing alot of people are recommending bybit.

How was the process? There's a way to transfer directly from binance to bybit?

 

[theaaaaaaaaaaaa]

@chelsea2018 ibaban nga mga cornsite, hanggang ngayos may access pa din.. binance pa na willing mag cooperate sa phil. goverment