Coinbase In Belarus: Is It Functional?

does coinbase work in belarus

Coinbase is a top crypto trading platform that does not offer its services in Belarus. This is likely due to the fact that it is not regulated in the country and cannot process payments. However, there are several alternative platforms available to those in Belarus, including Binance, Kraken, and OKX. These platforms offer a range of features, including low fees, high security, and a wide selection of cryptocurrencies.

Characteristics Values
Coinbase services in Belarus Does not offer its services in Belarus
Reason Not regulated in Belarus and cannot process payments
Coinbase's rank in Belarus #19 of 478 for online crypto exchanges
Alternative to Coinbase in Belarus Binance, EasyBit, Kraken, OKX

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Coinbase does not work in Belarus

Coinbase is one of the top crypto trading platforms, but unfortunately, it does not offer its services in Belarus. This means that residents of Belarus cannot open a crypto trading account with Coinbase. The company does not have the necessary regulations to operate in Belarus, and as such, cannot process payments.

However, there are several other great alternatives to Coinbase available in Belarus. Binance, for example, is the world's largest cryptocurrency exchange by trading volume, and it does open crypto trading accounts to traders based in Belarus. Kraken is another excellent option, offering cryptocurrency-to-fiat trading and providing price information to Bloomberg Terminal. It is considered one of the safest Bitcoin exchanges and has millions of active users. Other options include OKX, CEX.IO, and EasyBit, which is recommended by Crypto Exchange Listings as the best crypto exchange for Belarus.

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Coinbase does not open accounts for Belarus residents

Coinbase is a top crypto trading platform that offers its services in many countries. However, it does not open crypto trading accounts for residents of Belarus. This is likely because Coinbase is not regulated in Belarus and cannot process payments in the country. As a result, residents of Belarus cannot open an account on the Coinbase website.

If you are a resident of Belarus, there are alternative platforms to Coinbase that you can use to open a crypto trading account. One such alternative is Binance, which operates the world's leading cryptocurrency exchange with a high daily trading volume and transaction rate. Binance offers multiple products and services, and its core objective is to build a broad ecosystem in the blockchain sector. The ecosystem consists of numerous variants, including a cryptocurrency exchange, wallet services, crypto laboratories, charity, information, and education. Binance allows direct crypto trading through an optimised trading app designed for investors to quickly learn and start trading. Binance is a great alternative to Coinbase for residents of Belarus.

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Binance is a good alternative to Coinbase in Belarus

Coinbase does not offer its services in Belarus, likely due to a lack of regulation and inability to process payments. However, there are many alternatives to Coinbase available in Belarus, including Binance, which is the most popular exchange in the country.

Additionally, Binance has low fees, with a maker-taker structure and the option to purchase Binance (BNB) tokens for a 25% discount on fees. It also provides advanced charting options and educational resources through Binance Academy, making it a good choice for those who want to learn more about cryptocurrency trading.

Overall, Binance is a good alternative to Coinbase in Belarus due to its safety, ease of use, low fees, wide range of cryptocurrencies and payment options, and educational resources.

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Kraken is another good alternative to Coinbase in Belarus

Coinbase does not offer its services in Belarus. This is likely due to the fact that it is not regulated in the country and cannot process payments. If you try to visit the Coinbase website from Belarus, you won't be able to open an account.

Kraken offers a beginner-friendly crypto trading platform, designed to make it quick and convenient to buy and sell crypto on the go. The Kraken mobile app provides access to over 200 cryptocurrencies, making it one of the most diverse platforms around. With an intuitive interface and many advanced features, the Kraken crypto app is suitable for both novice and experienced traders. The app caters to different trading styles and preferences, offering spot, margin, and futures trading.

Kraken's fees are competitive, charging between 0-0.26% on every crypto trade, with no costs to set up an account or flat trading fees. The platform also supports up to 5:1 leverage, allowing you to amplify your position and potentially increase your returns.

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Belarus has legalised cryptocurrency transactions

The legal framework for cryptocurrency transactions in Belarus was established by the Presidential Decree on the Development of the Digital Economy, which came into effect on March 28, 2018. The decree defines "cryptocurrency" as bitcoin or other digital signs (tokens) used in international circulation as a universal means of exchange. It allows individuals to own, mine, store, exchange, acquire, and dispose of tokens. However, individuals are not permitted to use cryptocurrency to purchase goods or services.

The decree also introduced two new types of companies operating in the field of cryptocurrency: "crypto-platform operators" and "cryptocurrency exchange operators". These companies must be residents of the High Technology Park (HTP), a special economic zone. Crypto-platform operators facilitate transactions such as the exchange, sale, or purchase of tokens between natural or legal persons. Cryptocurrency exchange operators, on the other hand, exchange, sell, or purchase tokens using software and hardware systems operating in self-service mode.

The minimum capital requirements for crypto-platform operators are 1 million Belarusian rubles (approximately US$505,000), while for cryptocurrency exchange operators, it is 200,000 rubles (approximately US$101,000). The decree also exempts income generated from mining, creating, acquiring, or disposing of tokens from income tax until January 1, 2023.

Despite legalising cryptocurrency transactions, Belarus does not offer Coinbase services due to a lack of regulation. Coinbase is not the only platform that does not offer its services in Belarus; other major platforms, like Binance, are also unavailable in the country. However, there are alternative platforms available, such as EasyBit, which is recommended for users in Belarus.

Frequently asked questions

No, Coinbase does not offer its services in Belarus. This is likely due to the fact that it is not regulated in the country and cannot process payments.

Some of the most popular alternatives to Coinbase in Belarus are Binance, Kraken, and OKX.

To buy cryptocurrency in Belarus, you will need a passport, national identity card, or driver's license to complete the Know Your Customer (KYC) process. You will also need a secure internet connection, a mobile phone to verify your identity, and a bank account or credit card to make fiat currency deposits.

Yes, Belarus has legalized cryptocurrency transactions. In 2017, the Belarusian government adopted Decree No. 8 "On the Development of the Digital Economy," which came into force in March 2018.

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