Exchanges vs. VPNs, Will This Be The Solution?
By Marco Amaro on ALTCOIN MAGAZINE
Today, I will leave my point of view on the war between crypto-markets and the use of VPNs.
Following recent announcements by Binance and Bittrex regarding the September restraint for US residents.
Other exchanges will follow the same policy: Coinbase, Poloniex, Kraken, HuobiUS and eToro, and more digital asset markets may join this list.
At present, the currencies that US residents will not have access to after September are:
ADX, CVC, INCNT, NGC, PMA, SPC, AID, DCT, IOP, NXT, POT, SRN, ANT, DMT, LRC, OCN, POWR, BFT, EDG, MCO, OMG, RCN, UPP ,BKX GNO, MET, PAL, RLC, VEE, BLT, GUP, MLN, PART, RVR, VIB, BNT, HMQ, MOC, PAY, SNT, WINGS.
At the moment there are 41 cryptocurrencies, none of them will be available to anyone who is a US citizen.
However, any of the coins mentioned above is available to users not resident in the USA.
Can VPNs Solve The Problem?
Initially yes, however in the medium and long term can lead to a total loss of “patrimony”, for North Americans and a few more!
The use of VPNs in countries like Russia or China is prohibited.
However, this decision may be adopted by Europe as a whole, but for the time being it is “ rightful” to use it with its due weight and measure.
This means that even for those who do not live in the USA but for the fact that they use a North American IP to log in to exchange, now or in a few months you can see your account blocked and with this, have great headaches.
Given that the violation of the Terms of Service, which we all know as TOS (which almost nobody reads), expressly says if we do not comply with the stipulated will lead to banning or canceling account permanently.
It is good that any and all VPN users no longer have North American addresses on their list in order to keep their “assets” safe.
It should be noted that all the exchanges mentioned in this article allow in this “initial phase” that their North American users keep their crypto on the platform.
The ban is maintained: they can not sell or buy any of the 41 cryptocurrencies mentioned above, and only withdraw the coins from the platform.
Thank you for your interest!
And remember: “It’s never too late to invest in cryptocurrency”.
If you liked this little bit with me leave a round of applause.
