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Economic Sanctions are not a Barrier: How to Buy, Sell Cryptocurrency in Moscow


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15.09.2022

If you are reading this article now, then you are interested in buying/selling/exchanging cryptocurrency in Moscow. In order to get to know the Russian crypto world, you must first get acquainted with the existing laws related to the ownership and transfer of digital assets. Of course, it is necessary to analyze the legality of the work of crypto exchanges in Russia before starting to invest in cryptocurrency.

Although some exchanges claim to provide services around the world, not all of them have created a business structure that applies to crypto companies that provide services to Russian residents. Therefore, it is recommended to check the compatibility and legality of crypto exchanges before you use their services.

In this article we are going to tell you why cryptocurrencies are especially popular nowadays in Russia and how you can buy/sell and exchange cryptocurrency in Moscow.

Cryptocurrencies as a tool for circumventing economic sanctions

Taking into account the current situation, digital assets in Russia are even more popular. The fact is that in the conditions of partial blocking of transactions of Russian banks in the Swift systеm, digital currencies act as an alternative.

At a time when traditional banking operations have become quite complicated for millions of Russians, decentralized currencies such as Bitcoin (BTC) and Ethereum (ETH) can make up for this gap.

However, we can’t say for sure whether these transactions are carried out from sanctioned people who want to bypass restrictions, or from ordinary citizens who want to protect their savings from the devaluation of the ruble and avoid Moscow’s ban on transferring foreign currency abroad.

How you can buy Bitcoin (BTC) and other cryptocurrencies in Moscow

In Moscow, as in other mega-cities, cryptocurrency can be bought in several ways.

Firstly, these are cryptocurrency exchanges. Cryptocurrency exchanges offer the buying/selling/exchanging Bitcoin for cash at current rates. Some people don’t like the nuance that some crypto exchanges often require you to go through the process of confirming your identity. In some cases, crypto exchanges offer two-factor authentication to ensure the security of your account and subsequent transactions.

On the other hand, some exchanges may be a simpler way to cash out or buy cryptocurrencies. Many people prefer this method, since crypto exchangers work according to the same usual scheme as ordinary exchangers. Many of them have online platforms where you can check current rates and calculate the amount of transactions.

You can also buy cryptocurrency via a cryptocurrency wallet/application of which there are now a huge number, which means that before choosing, you also need to study all the pros and cons of your preferred software. There are mono-currency and multi-currency wallets, if you use different cryptocurrencies, it is preferable to have a multi-currency wallet.

P2P is a systеm that allows you to buy and sell cryptocurrency without intermediaries. Often the most favorable conditions are offered on R2R platforms, you just need to choose a reliable seller.

In addition, there are already more than 50 bitcoin ATMs in Russia, 5 ATMs are in Moscow. This means that in Moscow you have the opportunity to buy Bitcoin through special ATMs.

As we can see, there are a large number of ways in which it is possible to buy/sell/exchange/cash out various cryptocurrencies in Moscow. You only have to choose the most suitable one for you!


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