TOP 4 cryptocurrency exchanges in Russia

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03.06.2021 13:52
Russian Cryptocurrency Exchanges

    Russian cryptocurrency segment continues to grow as new participants join the industry. The majority of those new cryptocurrency users prefer Russian-speaking exchanges with the interface translated into Russian. When you communicate with the exchange using the same language, you can faster and deeper understand the rules and conditions, trading instruments. You can also avoid misunderstanding when discussing with them the rules of money depositing and withdrawals.

    Such cryptocurrency exchanges as Binance, Exmo, Broex, and Currency.com offer a user-friendly Russian version of the interface.

    Binance

    This cryptocurrency exchange has been active since April 2017. The headquarters is located in Shanghai. The cryptocurrency exchange supports 600 cryptocurrencies. The list of tokens includes promising digital assets only. You don’t need to verify your account there if your trading volumes do not exceed 2 BTC or you don’t need to contact their support team.

    Transactions fees are 0.1%. You can have a 25% discount for all operations by using the inner BNB token when paying commissions. As for the security measures, the website supports two-factor authentication and SMS verification. Binance offers advanced technical analysis tools and mobile applications for the most popular platforms – iOS and Android.

    Those advantages of choosing Binance as a cryptocurrency exchange are outweighed by some major disadvantages. There are serious translation mistakes that prevent users from Russia or Russian-speaking countries from using all the website features. This cryptocurrency exchange does not support pairs with the fiat currencies like USD or RUB. To start using Binance, you will have to buy cryptocurrencies via AdvCash and deposit it to your Binance account.

    Binance does not offer a Russian-speaking support service and has no offices in Russia. In case of any issues, you will have to deal with a foreign company and use English only.

    EXMO

    This cryptocurrency exchange is located in Great Britain. The website supports 11 languages including Russian. You can deposit the exchange account by popular payment systems such as Yandex Dengi, AdvCash, PayPal. EXMO customers can also buy cryptocurrencies using fiat money (USD and RUB are accepted).

    To create an account, one needs to fill a simple form including login, password, and e-mail address. The security is provided by two-factor authentication and SMS verification. User verification procedure allows customers to increase the level of security and to get more support if needed. To complete it, you need to provide the administration with copies of the id documents.

    EXMO is not the most popular cryptocurrency exchange in the world but Russian and Russian-speaking users trade cryptocurrencies frequently here. BTC/RUB currency pair holds up to 20% of the total market share on this exchange.

    As for the disadvantages, some EXMO customers say that there are money withdrawal delays or even cases of money losses. The exchange team denies all those accusations indicating that those are users’ mistakes that they do when working with payment systems during the withdrawal procedure.

    EXMO is not subject to Russian legislation. The support team speaks Russian but in case of any legal issues, you will have to appeal to the UK court.

    Currency.com

    The Belarussian cryptocurrency exchange Currency.com is a place where traders and investors can buy and sell tokens and tokenized assets. You can find the most popular cryptocurrencies like Bitcoin, Ethereum, Litecoin, Ripple as well as some DeFi tokens here.

    There are various methods to deposit and withdraw money including banking cards and electronic wallets. You can also fund your account using all available cryptocurrencies. As for the registration procedure, it is very simple. The exchange follows all KYC and AML requirements. This means you will have to verify your account to proceed.

    Currency.com offers an advanced trading terminal allowing deep analysis of cryptocurrencies. There are various order types. Traders can use leverage to increase their trading volumes.

    Despite the fact that Currency.com looks like a good solution for Russian and Russian-speaking traders and investors, there are some moments you need to be aware of. This exchange is rather young and we don’t know how it will act in case of emergency.

    Broex

    This platform was designed for beginner cryptocurrency market participants. Users can rely on various education materials that allow them to quickly start trading and investing in cryptocurrencies. The interface is very simple, which is another great advantage of this website.

    Broex platform helps beginner cryptocurrency users find the best way to start earning on tokens. Here you can buy coins with low commissions and exchange them into RUB later. You don’t need to read candlestick charts to understand the current market tendency. You don’t even need to understand whether the Bulls or Bears dominate the market. All platform's trading instruments are designed to help traders and investors better understand the situation and to find the right solution to profit in this cryptocurrency market.

    Broex cooperates with all popular payment systems, which makes it even easier to deposit and withdraw funds. The platform launches various promo campaigns and offers a generous referral program. Active users can rely on bonuses.

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    Conclusion

    The global cryptocurrency market surges currently. The whole capitalization is still below the capitalization of some giants like Facebook, Google, or Tesla. However, the cryptocurrency market has an impact on the global economy already.

    Russian cryptocurrency segment is still far from having a significant influence on the country’s economy but its growth makes commercial giants think about promoting their product on the Russian market. They plan to use their previous experience to attract new users. This strategy was successful previously.

    However, the tactics that we have described above, has one significant disadvantage. They try to attract various types of investors, even those who trade on traditional stock exchanges. Beginner traders and investors have difficulties trying to invest via those professional platforms.

    When it comes to Broex.io, the platform does not reject traditional market analysis tools. They have adapted them allowing beginner traders and investors to use them and to start making a profit by buying and selling cryptocurrencies.

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