How to Buy Bitcoin in Russia?

How to Buy Bitcoin in Russia?

Buying and Selling Bitcoin in Russia via Exchanges

Step 1 — Open a Digital Wallet

Step 2 — Register & Open an Account

Step 3 — Receive the 2FA Code

Step 4 — Purchase Bitcoin

Bitcoin Exchanges in Russia

  • CoinMama– CoinMama allows customers from every country to buy bitcoin with either credit or debit card and levy 6% charge on every transaction. The advantages of investing with CoinMama is that it is accessible in most countries around the world, highest limits for buying bitcoin with a credit card and is a reliable and trusted broker. The downside is that it charges very high fees among credit and debit cardholders.
  • LocalBitcoins- This is an escrow service that helps match bitcoin buyers and sellers. The most common method of payment is cash deposit. Users can also advertise for whichever method of payment they prefer. The pros for using this exchange are: it is easy to use and private, inter-personal trades do not require personal information. The con is that one cannot buy a large number of bitcoins, as compared to other large exchanges.
  • Matbea- This is a bitcoin exchange based in Russia and one can fund his/her account by cash deposit or bank transfer. The upside of trading with Matbea, it is one of the few Bitcoin exchanges in Russia and there are many ways to deposit funds. The downside is that the exchange does not offer prices close to the market price and consequently, traders receive less value on their bitcoins.
  • Mycelium Local Trader- This exchange helps one find local bitcoin sellers. Once a seller is located, one can meet up in person and complete the transaction. The best part about Mycelium is that it charges absolutely no fees. While the exchange is great for high-density areas, people in low-density areas may face obstacles and may not find sellers.

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