list of the best places to buy cryptocurrencies and bitcoin in Russia.
1.Binance 2.Cex.io 3.Changelly 4.Paxful 5.OKCoin
1.Binance
The world’s largest cryptocurrency exchange by volume, Binance, was established by Changpeng Zhao and started in July 2017. He was a software developer with Bloomberg for six years before leaving to found his own business. He also joined the Blockchain team early on and later held executive positions at OKCoin and BijieTech before creating Binance. The business grew into other nations, including the US, Japan, UK, Germany, France, and India.
Many of Binance’s characteristics set it apart from competing exchanges. It provides a huge selection of cryptocurrencies for trading, great liquidity, and affordable trading costs. They provide margin trading, something not all exchanges do. Additionally, it offers large volume traders an over-the-counter (OTC) trading desk. Depending on the sort of deal you make, Binance will charge you a trading fee (market or limit). Additionally, they give discounts if you pay your trading expenses using their token, BNB, or with other cryptocurrencies.
| Website | www.binance.com |
| Where is Binance located? | Cayman Islands; Mahé, Seychelles |
| Founded | 2017 |
| Founders | Changpeng Zhao |
| Click here | |
| Payment Methods | Credit Card , Debit Card) , SWIFT SEPA Bank transfer |
| Supported fiat | AED,ARS,AUD,BRL,CHF,CZK,CAD,DKK,EUR,GBP,GHS,HUF,HKD,INR,JPY,KZT,KES,MXN,NGN,NOK, NZD,PEN,PLN,RUB,SEK,TRY,UGX,USD,UAH,VND,ZAR. |
| Fees | Know more |
| Parent Company | BinanceHoldingsLtd |
| Is Binance regulated? | France- Autorité des marchés financiers (AMF) |
| Mobile app available | Android and iOS |
| Is Binance decentralized? | No it is centrlized exchage |
| Staking | Yes Available |
| Lending | Yes Available |
| Crypto loan | Yes Available |
| Nft platform | Yes Available |
| Otc trading desk | Yes Available |
| API | Yes Available |
| Is Binance safe? | Custody providers insured up to $250 million The vast majority of user funds and assets are safely stored in offline, cold storage facilities. |
| What services does BitPanda Exchange offer? | Academy, Binance Live, Charity, Card, Labs, Launchpad, Research, Trust Wallet, Binance Pay, Binance Gift Card, P2P, Strategy Trading, Binance Liquid Swap. |
| Support | 24/7 Chat Support |
| Margin Trading | Yes Available |
| Futures Trading | Yes Available |
| Options Trading | Yes Available |
| What documents are needed for Binance Kyc? | To access Binance’s products and services, all new users must complete Intermediate Verification. Government Id Card ,Passport, Driving Licence,Phone Number email id. |
| FAQ | Know more |
2.Cex.io
Cex.io Founded in 2013, CEX.IO is a licenced, multi-purpose cryptocurrency exchange. Over 100 digital currencies and tokens, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Uniswap (UNI), and others, are supported by this cryptocurrency exchange with headquarters in London.
Over four million users are served by the global crypto exchange ecosystem that CEX.IO has created, which is accessible in 99% of nations and 48 U.S. states.
CEX.IO was established as a Bitcoin cloud mining provider and marketplace for hashing power. The startup wanted to make it possible for people to receive Bitcoin mining profits without having to install expensive mining equipment in their houses.
Following the shutdown of GHash.IO because of its lack of profitability in late 2016, CEX.IO made the decision to halt cloud mining. Instead, the business redirected its attention to creating a global ecosystem of cryptocurrency exchanges.
In order to serve the European market, CEX.IO is registered with the Gibraltar Financial Services Commission (GFSC) as a DLT Provider and with FinCEN in the United States and Canada as a Money Services Business (MSB). The UK Financial Conduct Authority has granted CEX.IO interim registration as a cryptocurrency asset business in the country (FCA).
| website | www.cex.io |
| Where is cex.io located? | London, United Kingdom |
| Founded | 2013 |
| Founders | Oleksandr Lutskevych |
| Click here | |
| Payment Methods | Debit Card , Credit Card , Bank Transfer (SEPA) , SWIFT,ACH,Faster Payments,Faster Payments,QIWI,Skrill (Visa, MasterCard) |
| Supported fiat | USD, EUR, RUB, GBP |
| Fees | Know more |
| Parent Company | CEX.IO Corp., CEX.IO Limited and CEX Overseas Ltd are collectively managing the CEX.IO platform. |
| Mobile app available | Android and iOS |
| Is cex.io decentralized? | No it is centrlized exchage |
| Is cex.io regulated? | Europ- Gibraltar Financial Services Commission. Usa and canada-FinancialCrimesEnforcementNetwork. United Kingdom- Financial Conduct Authority. |
| Staking | Yes Available |
| Lending | Yes Available |
| Crypto loan | Yes Available |
| Nft platform | Not Available |
| Otc trading desk | Yes Available |
| API | Yes Available |
| Is cex.io safe? | protection from DDoS attacks, complete data encryption, cold storage of cryptocurrencies, and compliance to PCI DSS standards to protect consumer money |
| What services does cex.io Exchange offer? | CEX.IO Card only for u.k user |
| Support | Know more |
| Margin trading | Yes Available |
| Kyc | Government Id Card or Passport or Driving Licence,phone number and email address. |
| What documents are needed for cex.io Kyc? | Know more |
3.Changelly
Changelly makes it possible to purchase and sell cryptocurrencies as well as exchange them. An easy-to-use user interface and quick registration with an email address. Nearly 200 different cryptocurrencies are available on Changelly, a non-custodial exchange. You may trade cryptocurrencies at minimal cost with its user-friendly, safe service. There are restrictions when purchasing a cryptocurrency with fiat money, and these restrictions vary by country and location. See below for restrictions.
Residents of the USA, Canada, and Australia are limited to just $50 for their initial purchase. Their second purchase, which can only be done four days after the first, can be for $100. $500 can be bought 7 days after the initial transaction. Then, there are no restrictions.
People who live in the CIS region are only allowed to spend $200 on their first transaction; after 24 hours, they can spend up to $2000 for the first week and $10,000 for the first month on additional purchases.
Users’ initial transactions are restricted to $100 in the EU and other countries. Their following buy may cost $200, however
Changelly may be appealing to those who would wish to remain anonymous because no verification is necessary in order to use the exchange.
In contrast to many other cryptocurrency exchanges, there are no legal requirements. Users are just asked to provide an email address, which will never be given to a third party.
| website | www.changelly.com |
| Where is Changelly located? | Prague, Czech Republic |
| Founded | 2015 |
| Founders | Konstantin Gladych, Alex Melikhov |
| Click here | |
| Payment Methods | Credit Card,Debit Card sepa/swift, apple pay,visa mastercard. |
| Supported fiat | USD,EUR,GBP,CAD,AED,AMD,ANG,ARS,AUD,AZN,BAM,BBD,BDT,BGN,BMD,BND,BOB,BRL,BWP,BYN,CAD,CHF,CLP,CNY,COP,CRC,CZK,DJF,DKK,DOP,EGP,GEL,GHS,GTQ,HKD,HNL,HRK,HUF,IDR,ILS,INR,ISK,JMD,JOD,JPY,KES,KGS,KHR,KRW,KWD,KYD,KZT,LBP,LKR,MAD,MDL,MKD,MNT,MOP,MUR,MXN,MYR,MZN,NAD,NGN,NOK,NZD,OMR,PAB,Sol,PEN,PGK,PHP,PKR,PLN,PYG,QAR,RON,RSDRUB,SAR,SEK,SGD,SOS,THB,TRY,TTD,TWD,TZS,UAH,UGX,UYU,UZS,VND,XAF,XOF,ZAR |
| Fees | Know more |
| Mobile app available: | Android and iOS |
| Is Changelly decentralized? | No it is centrlized exchage |
| Staking | Not Available |
| Lending | Not Available |
| Crypto loan | Not Available |
| Is Changelly regulated? | Changelly is not an regulated cryptocurrency exchange. |
| Nft platform | Not Available |
| Otc trading desk | Yes Available |
| API | Yes Available |
| Is Changelly safe? | Changelly is really secure. Because they do not keep your cryptocurrency in a wallet, they simply take your deposited dollars or assets, exchange them for your chosen cryptocurrency, and then deposit the new cryptocurrency in your own wallet. This makes doing crypto trades incredibly safe. Similar to a conventional exchange, this cannot be hacked. Therefore, the only risk is human mistake as long as you’re using a secure software or hardware wallet to which you have the keys (for instance, providing the incorrect deposit address). |
| Support | Know more 24/7 live chat support |
| Margin trading | Not Available |
| What documents are needed for Changelly Kyc? | Government Id Card or Passport or Driving Licence,phone number and email address. |
| FAQ | Know more |
4.Paxful
Paxful is a well-known digital peer-to-peer cryptocurrency exchange . Users of Paxful can buy and sell cryptocurrencies using a variety of payment options.
Paxful is not a regulated exchange, using it is secure and safe. It is crucial to remember that purchasers shouldn’t mix up the integrity of the platform and that of the seller. Although the Paxful platform adheres to KYC standards and demands ID from clients for verification, it is not governed by any national laws. Since the anti-money laundering and KYC procedures are in place, users can utilise the platform safely.
Paxful’s platform is available worldwide, and the minimum purchase amount is only $10. If you are trading for more than $1500, you must provide ID verification.
BitGo provides the Paxful wallet, which supports multi-sig wallets, giving users a security option. This peer-to-peer exchange also includes an escrow service, which holds the bitcoins until both parties are satisfied with the transaction.
Paxful also offers a rating system for sellers and buyers in order to encourage good behaviour and foster a trustworthy trading environment. While the escrow service assists the system in resolving the issue of trust between platform users, the rating system assists users in easily identifying trustworthy actors.
| website | www.paxful.com |
| Where is Paxful located? | 3422 Old Capitol Trail, PMB 989, Wilmington DE 19808 |
| Founded | 2015 |
| Founders | Ray Youssef and ArturSchaback |
| Click here | |
| Payment Methods | Bank transfer,Digital currencies ,Goods & services,Gift cards,Debit/credit card,Online wallets |
| Supported fiat | USD,EUR,AED, AUD, BRL, CAD, CNY, EUR, GBP, INR, JPY, MXN, SAR, SEK, SGD, USD, GHS, KES, NGN, UGX, ZAR, IDR, CNY, HKD, INR, CAD, GBP. |
| Fees | Know more |
| Parent Company | Paxful, Inc |
| Mobile app available | Android and iOS |
| Is paxful decentralized? | No it is centrlized exchage |
| Staking | Not Available |
| Lending | Not Available |
| Crypto loan | Not Available |
| Is paxful regulated? | Paxful is not a regulated. |
| Nft platform | Not Available |
| API | Yes Available |
| What services does paxful Exchange offer? | Bitcoin ATM Map |
| Support | Live chat |
| Margin trading | Not Available |
| What documents are needed for Paxful Kyc? | Government Id Card or Passport or Driving Licence,phone number and email address. |
| FAQ | Know more |
5.OKCoin
Okcoin, founded in 2013 by Star Xu, is one of the most reliable and consistent fiat-to-crypto companies in the world.
The Okcoin exchange is extremely user-friendly and allows you to trade in just a few clicks. However, before you can deposit or withdraw money or funds, you must first register or sign up for a corporate or personal account.
The OKCoin exchange may not be regulated, but that does not make it untrustworthy. OKCoin has proven to be a very trustworthy exchange, and they use the most up-to-date security and encryption protocols to protect their users. OKCoin, for example, incorporates bank-level SSL security encryption, cold storage for the majority of their cryptocurrency, GSLB and distributed servers, and real-time deposit and withdrawal account monitoring.
| website | www.okcoin.com |
| Where is okcoin located? | San Francisco, California, United States |
| Founded | 2013 |
| Founders | Star Xu |
| Click here | |
| Payment Methods | Know more |
| Supported fiat | USD,EUR,BRL,SGD |
| Fees | Know more |
| Parent Company | Ok Group |
| Mobile app available: | Android and iOS |
| Is okcoin decentralized? | No it is centrlized exchage |
| Staking | Yes Available |
| Lending | Not Available |
| Crypto loan | Not Available |
| Is okcoin regulated? | Not Regulated |
| Nft platform | Not Available |
| Otc trading desk | Yes Available |
| API | Yes Available |
| Is okcoin safe? | bank-level SSL security encryption, cold storage |
| Support | support@okcoin.com |
| Margin trading | Yes Available |
| Future trading | Not Available |
| What documents are needed for okcoin Kyc? | Government Id Card or Passport or Driving Licence,phone number and email address. |
| FAQ | Know more |
What is a Cryptocurrency Exchange and How Does It Work?
A cryptocurrency exchange is an online trading platform that serves as a middleman between cryptocurrency buyers and sellers. These online trading platforms let users trade cryptocurrencies for fiat and digital money. These marketplaces enable users to deposit funds using procedures like direct bank transfers, online banking, or peer-to-peer (P2P), among others, and they levies a commission or fee for each transaction carried out using their services. Read How To Buy Cryptocurrency to learn more about buying cryptocurrencies in depth. Any of these exchanges have a reasonably straightforward method for creating new accounts. A user must complete the following steps to open a trading account after choosing a suitable exchange.
Steps to Buy Cryptocurrency in Russia
Open an account with an exchange- Install the chosen exchange’s app, then register for an account.
Complete the KYC verification process
Fill in the required information, including your name, email address, and phone number. The user receives a mail asking KYC information on the same id after the email has been verified. Verify your email address’s address, then finish the KYC procedure. Create a password that is strong. Never share your app, wallet, or exchange passwords to anyone because it can be challenging to get them back.
Make a fiat deposit
You must connect a bank account or credit card to the exchange in order to start purchasing bitcoin and other cryptocurrencies. The time it takes for the funds to reach the exchange might range from a few minutes to days, depending on the payment method.
Buy cryptocurrency
When your account is funded, you are ready to purchase your first bitcoin and other cryptocurrencies. It’s important to note that you do not need to buy a full crypto currencies. You can typically purchase bitcoin or any other cryptocurrency on an exchange for as low as a Rs100.
Types of Cryptocurrency Exchange Fees in Russia
The fees and charges levied by various cryptocurrency exchanges in Russia vary. Let’s look more closely at what these fees entail.
Joining Fee
The majority of Russia bitcoin exchanges did not charge a joining fee.
Deposit Fee
When a user transfers funds or coins into a cryptocurrency exchange to start a purchase or sell transaction, they are charged this fee. The amount of the deposit fee entirely depends on the method of the user’s money transfer.
Trading Charges
The most crucial component of a cryptocurrency exchange’s fee structure is its trading charges. Trading commissions may be assessed as a fixed percentage of the total value of cryptocurrency that a trader purchases or sells, or an exchange may assess fees based on the orders made, with makers and takers being assessed at different rates. Therefore, it is essential to comprehend Maker and Taker expenses before moving forward.
A maker is a party who sells bitcoin to generate liquidity on the market.
The party that purchases bitcoins to remove it from the market’s liquidity is the taker.
A fixed amount of fees are paid for the transaction by both the maker and the taker. Makers do, however, often pay less.
The trading fees differ between exchanges, typically falling between 0% and 0.25%. It should be noted, though, that although some exchanges advertise that they have no costs for users, one must look closely to see if they actually charge in the form of spread, which is the price difference between buying and selling a cryptocurrency. Additionally, this rate is typically larger than the trading fee.
Withdrawal Fee
On some exchanges, the user is charged when they withdraw funds into fiat. When a user places a sell order on the exchange, the money is available for withdrawal when it appears in his or her wallet. The user can make whole or partial withdrawals into their designated bank account here, subject to fees. The user also has the choice to withdraw money in coins, however doing so entails a fee.
Staking Fees
Over the past few years, staking has grown to be a very well-liked function provided by a variety of exchange platforms. In a nutshell, staking is using a portion of your money as collateral in the Proof of Stake or Proof of Delegated Stake process, allowing you to generate passive income. But occasionally staking has a modest price.
Staking fees are often deducted from earned staking rewards rather than being imposed as an additional price that users must pay. These costs may vary depending on the token being staked or they may be uniform across the board on a platform. However, some platforms don’t charge anything for staking.
What To Look For In A Great Russia Crypto Exchange
You should conduct extensive research before using a cryptocurrency exchange in Russia for trading or investing. When choosing an exchange to trade in cryptocurrencies like bitcoin, investors must be aware of the safety and security of digital tokens. When evaluating a platform for cryptocurrency trading, the following elements should be taken into account:
Transparency of the Exchange
Due to the lack of legal regulation, trust and transparency are essential. Each nation offers a wide variety of exchanges. Examine the exchange’s audit data to choose a trustworthy exchange. Reports on audits include information about a company’s financial situation. Transparent exchanges disclose how to check bitcoin reserves and reveal cold storage addresses.
Ease of Trade
The ease of transaction is a major consideration when selecting an exchange. It’s important to assess how quickly cryptocurrencies may be transferred and settled. Certain exchanges frequently provide “lock-in” rates. The purchase price of the cryptocurrency is fixed by the lock-in pricing scheme, regardless of price changes up until delivery.
Order Book Volume
The exchange is being used by more traders and investors, as seen by the high order book volume. As a result, existing investors have greater liquidity when selling any given cryptocurrency.
To increase user confidence, the majority of exchanges disclose the Order Book Volume. It is not, however, against the law for an exchange to suppress the Order Book Volume. If the exchange lacks the capability to do so or its volume is smaller than that of other exchanges, it might not be possible for it to release the Order Book Volume.
Exchange Reputation
The most personalised thing to take into account is probably the exchange’s reputation. If an exchange has made significant investments in media companies (PR) to develop its reputation, the exchange may appear quite rosy and glossy.
The investor must therefore carefully evaluate the goodwill of exchange. It is suggested that you conduct adequate research, have a professional consultation, and discuss the matter. Numerous interest forums offer real, unprejudiced, and truthful perspectives. Building a robust community requires investors to simultaneously share their experiences.
Location of Exchange
Finally, the exchange’s location is equally important in determining the laws and regulations that will apply to the exchange. Investors need to be informed of the exchange’s registered office and compliance with applicable laws and regulations.
It is advised for investors to transact using a nearby or home-based cryptocurrency exchange. The foreign exchange risk connected with trading on overseas markets is also removed by investing in a local exchange. Investors are urged to educate themselves on the pertinent tax laws.
Supported coins:
The best cryptocurrency exchanges provide a large selection of currencies for trading since doing so enables users to trade a variety of crypto assets and optimise their profits.
Customer support:
The top cryptocurrency exchanges always feature top-notch customer service, allowing consumers to seek assistance if they run into any issues. Take into account the number of ways you can contact their support staff, how quickly they respond, and how helpful their responses are.
Buy Bitcoin for cash in Russia
A bitcoin ATM allows users to buy bitcoin and other cryptocurrencies.Verify that you have a Bitcoin wallet before making a purchase because some ATMs require one. The usual costs are between 5 and 10 percent, however a lot depends on your country.
The costs associated with buying bitcoin with cash are often very significant. Furthermore, it is private because, in most cases, no personal information is required, especially when transacting in-person or without verification at an ATM.Find a Bitcoin ATM nearby Click here.
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Naren is a finance graduate who is passionate about cryptocurrency and blockchain technology. He demonstrates his expertise in these subjects by writing for cryptoetf.in. Thanks to his finance background, he is able to write effectively about cryptocurrency.