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Suppose you an in a country (such as Cuba or Russia) where US credit cards and wire transfers don't work. You run out of cash and need money. Is it possible to transfer some money from a US bank or credit card to a bitcoin account and then withdraw it in that county as local currency?

From what I gathered so far, one must set up a Bitcoin wallet. After it is set up, can you link it to your bank account and transfer money to it directly from your bank using an app?

And if that is possible, can you convert it to local cash in Russia or Cuba via a Bitcoin ATM in one of those countries?

Physiker
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    It may be technically feasible, but would still be illegal – littleadv Oct 27 '23 at 16:17
  • "can you convert it to local cash in Russia or Cuba via a Bitcoin ATM in one of those countries?" If there'sa BTC ATM near you in Cuba or Russia, then why not? – RonJohn Oct 27 '23 at 18:32
  • @littleadv : does that mean that if you run out of cash (maybe you were robbed) then the only legal thing to do is to starve to death? – vsz Nov 02 '23 at 07:43
  • @vsz no, one can for example reach out to the US embassy for assistance – littleadv Nov 02 '23 at 08:22

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You would most likely end up with finding an individual who can use local exchange services with their IDs, this individual would be able to accept a bank transfer or cash form an exchange in local currency and give it to you.

It's also doable if you can create an account in local bank and use it to accept a transfer from an exchange. I think same applies for any country.

CryptoDude
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