How to Buy Bitcoin in Russia In 2021

Mar 8, 2021 | Bitcoin101 | 0 comments

Since the recent reversal of bans on cryptocurrency was lifted in January 2021, there has been an expected increase in the amount of Bitcoin being bought by locals. According to the new law, any buying or exchanging of Bitcoin for Rubles is required to take place through a licenced operator. In helping you fast track the process of finding a reputable operator from which to buy Bitcoin, we’ve gone ahead and done the research for you as part of our Bitcoin 101 series. In this how to buy Bitcoin in Russia in 2021 guide you will find the best place using bank transfer, credit / debit card, and the local payment processor, Yandex.

How To Buy Bitcoin Via Bank Transfer – Cex.io

Originally starting out as a cloud mining company in 2013, Cex.io developed into a fully fledged crypto exchange – and a big one at that. The platform now caters to over 600,000 active users and offers a wide range of currencies and cryptocurrencies. With no deposit fees (be warned though that withdrawals incur a $50 fee) and a simple interface, Cex.io is the perfect option when it comes to buying Bitcoin via bank transfer in Russia. 

If you don’t already have an account with Cex.io you will need to create one and complete the simple KYC verification. Once you’re set up, select the Deposit button from the menu and then the Bank Transfer option. You will then be provided with the banking details of where you will need to send your funds, including a unique reference number. Once you have made payment you will need to send the company the proof of payment, and the minute the funds clear in their account they will send the Bitcoin to your wallet.

How To Buy Bitcoin Via Credit / Debit Card – Coinmama

Coinmama has been dominating in the crypto exchange industry since 2013, assisting over 2 million customers across 188 countries. The platform has a very good reputation for secure and speedy cryptocurrency transactions, and almost immediate card purchases. Russians can buy Bitcoin via credit / debit card on the platform using their local Rubles. 

First, you will need to open an account on the platform, this will entail entering personal details such as email, password, first name, last name and your country of residence. You will also be asked to verify your identity with an ID document or passport (this is standard procedure for any reputable exchange). Once you’re ready, select Bitcoin in the top menu and enter the amount you would like to buy (while you will be paying in Rubles you will need to confirm the Bitcoin price against the US dollar or Euro). Enter your wallet address and proceed to checkout. 

You will then need to fill out a form and provide your card details (note that Coinmama only accepts Visa and Mastercard). Credit card purchases are usually confirmed within minutes, however the transaction will change to “in progress” once the payment has been made. Once the transaction is successful, the Bitcoin will appear in your wallet provided.

How To Buy Bitcoin With A Local Payment Processor – Matbea

Local Bitcoin exchange and wallet service providers, Matbea offer a fine choice for buying Bitcoin in Russia. The platform has been operating since 2013 and takes security very seriously. Users will need to complete a three factor authentication when logging in, entering an SMS code, email code and pin number. According to information online, they currently have 80,000 users. 

How to buy Bitcoin with Yandex on Matbea is very straight forward. Users will need to create an account which entails entering your phone number and creating a password. First you will need to load your account with Rubles by selecting the Yandex option and making payment. Once the funds have cleared in your account go to Operations and select Exchange. Enter how many Rubles you would like to pay and the amount of BTC will be displayed on the right. Alternatively, enter the amount of BTC you would like to buy and see the Ruble amount on the left. Once you are happy with the amount, confirm the transaction and the BTC funds will be deposited directly into your wallet.

How to Buy Bitcoin in Russia in 2021

While crypto development in Russia has been slow compared to other countries, the climate and electricity costs make for a perfect crypto mining location. As the world wakes up to the power of cryptocurrencies, it seems only right that more and more people are looking to find out how to buy Bitcoin in Russia in 2021. For more informative and insightful information, make sure you stay informed with 4King.com

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