Buy Bitcoin & Crypto in Russia

We may receive advertising compensation when you click certain products. Before jumping into this page, an important disclosure.

You'll need a Bitcoin wallet before you buy since some exchanges require one.

Don't have a wallet? Read our guide on the best Bitcoin & cryptocurrency wallets.

  • Popular Exchanges to Buy Bitcoin & Crypto in Russia
  • Coinmama
    • Works in almost all countries
    • Highest limits for buying bitcoins with a credit card
    • Reliable and trusted broker
  • eToro
    • Supports Bitcoin, Ethereum & 15 other coins
    • Start trading fast; high limits
    • Your capital is at risk.

    This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.

CoinmamaCoinmama Buy Bitcoin Read Review

Coinmama allows customers in almost every country to buy bitcoin. They charge a 4.9%-5.9% (depends on volume) fee on each purchase.

Customers in Europe can also purchase bitcoins with SEPA transfer for a lower fee.

Want to buy using Coinmama? This step-by-step guide will show you how to use Coinmama.

We may receive compensation when you use Coinmama. Please visit Coinmama for its exact pricing terms.

Pros
  • Works in almost all countries
  • Highest limits for buying bitcoins with a credit card
  • Reliable and trusted broker
Cons
  • Some of the highest fees among credit/debit card bitcoin brokers
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Ease of Use
Easy
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Privacy
Low
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Speed
Fast
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Fees
Average
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Reputation
Trusted
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Limits
High
Buy Bitcoin Read Review

eToroeToro Buy Bitcoin Read Review

eToro is a trading platform and crypto exchange. It supports Bitcoin, Ethereum, Litecoin, Zcash and many other coins.

Deposits can be made quickly via bank transfer, SEPA, NETELLER, PayPal and more. It also offers unique features like copy trading.

This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.

We may receive compensation when you use eToro. Please visit eToro for its exact pricing terms.

Pros
  • Offers unique copy trading feature
  • Trusted echange that has been active in traditional finance
  • Interface is clean and easy to use
Cons
  • You cannot deposit cryptocurrency, but you can deposit with other payment methods
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Ease of Use
Easy
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Privacy
Low
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Speed
Average
fees icon
Fees
Low
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Reputation
Trusted
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Limits
High
Buy Bitcoin Read Review

BitpandaBitpanda Buy Bitcoin Read Review

Bitpanda is a Bitcoin broker based in Europe.

They have high payment limits and low fees across their wide range of payment methods.

Bitpanda offers customers the option to buy bitcoins with credit card, debit card, SOFORT, Skrill, NETELLER, giropay, eps, SEPA, and Online Bank Transfer.

Our guide will show you how to buy bitcoins with a credit card on Bitpanda.

We may receive compensation when you use Bitpanda. Please visit Bitpanda for its exact pricing terms.

Pros
  • Some of the lowest fees for buying bitcoins with credit/debit card
  • Reliable and trusted broker
Cons
  • Fees aren't shown openly on the site but instead included in the buying price
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Ease of Use
Easy
privacy icon
Privacy
Low
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Speed
Fast
fees icon
Fees
Low
reputation icon
Reputation
Trusted
limits icon
Limits
High
Buy Bitcoin Read Review

KrakenKraken Buy Bitcoin Read Review

Founded mid-2011, Kraken is the one of the world's largest cryptocurrency exchanges, and the largest in Europe based on daily average trading volume. It is available in almost all countries. Deposits can be made via bank wire, SEPA, ACH and SWIFT.

Pros
  • Very low 0.25% taker fee, falling to 0.1% with sufficient trading volume
  • Very low maker fee, falling to 0% with sufficient trading volume
  • Highly-rated for security and data protection
Cons
  • Requires ID verification, so not private
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Ease of Use
Hard
privacy icon
Privacy
Low
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Speed
Average
fees icon
Fees
Low
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Reputation
Trusted
limits icon
Limits
High
Buy Bitcoin Read Review

LocalBitcoinsLocalBitcoins Buy Bitcoin Read Review

LocalBitcoins is an escrow service which also helps to match bitcoin buyers and sellers. Users may advertise trades for whichever payment method they prefer.

Buying bitcoins via an in-person meeting, secured and facilitated by LocalBitcoins, may be one of the fastest and most private ways to buy bitcoins in any country, including the United States, Europe (besides Germany), UK, Singapore, Canada, Australia and many more.

We may receive compensation when you use LocalBitcoins. Please visit LocalBitcoins for its exact pricing terms.

Pros
  • Can be private, fast and easy
  • In-person trades require no personal information
  • Purchases of bitcoin can be made quickly via cash deposit
Cons
  • Beware of scams; always follow the rules!
  • Harder to buy large amounts of bitcoins compared to large exchanges
  • Slightly to significantly higher prices than regular exchanges; premium for higher privacy
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Ease of Use
Hard
privacy icon
Privacy
High
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Speed
Fast
fees icon
Fees
Low
reputation icon
Reputation
Trusted
limits icon
Limits
Average
Buy Bitcoin Read Review

Best ChangeBest Change Buy Bitcoin

Best Change makes it possible to buy bitcoins with WebMoney, PayPal, Skrill, BTC-e codes, cash, Perfect Money, and more.

Pros
  • Lists many places to buy bitcoins in Russia and nearby countries
Cons
  • Does not actually sell bitcoins
Buy Bitcoin

MatbeaMatbea Buy Bitcoin

Matbea is Bitcoin exchange based in Russia. You can fund your account by cash deposit or bank transfer.

Pros
  • One of few Bitcoin exchanges based in Russia
  • Wide range of deposit methods
Cons
  • Does not offer rates close to market price
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Ease of Use
Average
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Privacy
Average
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Speed
Average
fees icon
Fees
Low
reputation icon
Reputation
Trusted
limits icon
Limits
High
Buy Bitcoin

Bitcoin ATMsBitcoin ATMs Buy Bitcoin

You can use our Bitcoin ATM map to buy bitcoins with cash. Bitcoin ATMs can be a quick and easy way to buy bitcoins and they're also private. That convenience and privacy, however, comes with a price; most ATMs have fees of 5-10%.

Pros
  • Our map makes it super easy to find a Bitcoin ATM near you
Cons
  • Bitcoin ATMs often have 5-10% fees per purchase
Buy Bitcoin

Mycelium Local TraderMycelium Local Trader Buy Bitcoin

Mycelium Local Trader helps you find local Bitcoin sellers. Once you locate a seller, you meet up in-person and conduct the trade. Mycelium charges absolutely no fees. While Mycelium Local Trader works great in highly-populated areas, users in low population areas will have trouble finding sellers.

Pros
  • Easy and cheap way to buy bitcoins with cash
  • Private way to buy bitcoins, no personal information required beyond cellphone number
Cons
  • Users in sparsely populated areas will have trouble finding sellers
ease icon
Ease of Use
Average
privacy icon
Privacy
High
speed icon
Speed
Fast
fees icon
Fees
Low
reputation icon
Reputation
Trusted
limits icon
Limits
High
Buy Bitcoin

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Bitcoin & Cryptocurrency Trading in Russia


Russia (formerly known as the Soviet Union) is home to a quickly growing cohort of Bitcoin enthusiasts. With legacy banks that don't work for the people and a waning and perpetually depressed economy that only seems to work for the nation's elite, regular citizens are turning to Bitcoin both as a store of value and a way to get paid as an alternative to the Russian Ruble.

If you think you may want to join this group of Russians opting out of the legacy financial system or feel that system is designed to hold you back, then this page is for you. We list all of the top exchanges serving Russia above, but below we will cover more country specific data with regards to Bitcoin in Russia.


Siberia, Russia's largest area of land, is home to some large Bitcoin mining farms

One of the easiest ways to buy Bitcoin in Russia is through the cryptocurrency exchanges outlined above. There are several exchanges offering Bitcoin in Russia, and you can easily select one based on your requirements and preferences using our guide. Different exchanges have different transaction fees, withdrawal limits, payment modes, and verification processes that need to be kept in mind before users select one.

Additionally, Bitcoin buyers need to keep in mind the fact that certain exchanges might require them to get a wallet of their own before they are able to buy the digital currency. Also, it is recommended to have a wallet of your own for security reasons, preferably a hardware wallet. If you don’t have a wallet, refer to our guide on the Best Bitcoin and Cryptocurrency Wallets to choose one.


COMPARISON

ledger nano x folded

Ledger Nano X

  • SCREEN:
  • RELEASED: 2019
  • PRICE: $119
ledger nano s illustration

Ledger Nano S

  • SCREEN:
  • RELEASED: 2016
  • PRICE: $59
trezor model T

TREZOR T

  • SCREEN:
  • RELEASED: 2018
  • PRICE: $159
Trezor One

TREZOR One

  • SCREEN:
  • RELEASED: 2013
  • PRICE: $59

Another way to buy Bitcoins in Russia is through automated teller machines (ATMs). These ATMs allow users to instantly purchase the cryptocurrency using cash, and most of them only require a telephone number for verification, so long as you aren’t buying a lot of Bitcoin, they are more private than exchanges. You can locate Bitcoin ATMs in Russia using our Bitcoin ATM Map. Just be aware that Bitcoin ATMs are pretty rare in Russia, so you likely won't find one near you.


bitcoin atm map


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Top Bitcoin & Cryptocurrency Exchanges in Russia


Russia has access to many large Bitcoin and cryptocurrency exchanges.

Have a look at our favorites below:

  • Popular Exchanges to Buy Bitcoin & Crypto in Russia
  • Coinmama
    • Works in almost all countries
    • Highest limits for buying bitcoins with a credit card
    • Reliable and trusted broker
  • eToro
    • Supports Bitcoin, Ethereum & 15 other coins
    • Start trading fast; high limits
    • Your capital is at risk.

    This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.


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Best Bitcoin Wallets for Russia



There are three main types of Bitcoin wallet and all of them are supported in Russia:

Best for Security

ledger nano x

Ledger Nano X

Secure storage for any cryptocurrency

Visit Website

The Ledger Nano X is the newest crypto hardware wallet, and is very easy to use. It connects to iOS, Android & desktop computers.

Temporary Wallet

atomic wallet logo

Atomic Wallet

Best for storing crypto for short period of time

Learn More

Atomic wallet is a multicurrency mobile wallet with a beautiful interface and easy to use features.

Best for Desktop

electrum logo

Electrum

Simple yet powerful desktop wallet

Learn More

Electrum is a Bitcoin-only wallet that has been around since 2011. It's easy to use, but has advanced features.


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Exchange Hacks and Crypto Scams in Russia


Bitcoin7 Hack

In October of 2011, the server farm of the Bitcoin7 exchange was hacked, thereby giving the attackers access to bitcoin7 and its user database as well as some of its hot wallets. Many client funds were stolen, though it is unclear to what degree.


Not surprisingly, Bitcoin7 is clearly no longer running

Bitcoin7 promised it would hire personnel and develop new technology to prevenet similar hacks from happening and do its best to make its customers whole, but in order to do so, they required the customers to hand over a list of peronally identifying documents to do so.

These included:

  • Scanned ID/Passport;
  • Proof of address/utility bill;
  • Proof of funding or bank statement;
  • ABA/SWIFT number for bank transfer;
  • Bank name and address.

Many users were angry this would be required, as the exchange had just proven it was incapable of keeping client data secure. Many beleived this was a stunt pulled by Bitcoin7 to make compliance so difficult that most would find it too costly to be worth the refund.

MMM Scam

The MMM scam was the brainchild of Russian Ponzi scammer Sergei Mavrodi"MMM" stood for "We can do a lot" in Russian. It first began in the 1990's, with 10 million Russian victims. The scam guaranteed 1,000% returns to its investors, and even had its own paper currency at one point. It was said that money was coming in so fast, that workers didn't even have time to count it all and so they resorted to weighing it.


An image of what the Mavro paper money looked like

However, MMM was shut down in 1994 by Russian authorities for operating what was clearly a ponzi scheme that is beleived to have stolen anywehre from $100M to $1B USD worth of value from its victims. The scam was so successful because at that time, Russians were so new to market economies that they had no idea what a real, legitimate investment should even look like.

This was not the end of MMM, though. Mavrodi would continue the same scam in both Russia and elsewhere over the following 24 years until his death in 2018. These days, the scam involves helping clients set up cryptocurrency wallets, where they could send MMM Bitcoins in exchange for Mavro coins - a crypto version of the Mavro dollars printed in the 1990's before the first shutdown.

This scam still runs today, especially in countries like India and Mexico. If you ever see the MMM name, run.


MMMIndia homepage - now defunct


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Bitcoin Mining in Russia


The cost of electricity per kWh is about $0.056. If you are using a brand new Antminer S19 Pro (which will cost you around $4,500), mining at 110 Th/s and pulling 3,250W, you would lose around $1,572 per year.


Calculations using an Antminer S19 Pro

Russia is, therefore not a great place to mine Bitcoins. However, that doesn't stop a lot of people from trying.

Though, when large mining operations do open, it usually because they have some discount on these costs that most other cannot get.

Take the newly launched Siberian Bitcoin mining farm opened in late 2019. This mining farm employs an old Soviet aluminum plant in a city now known for data centers and server farms.


Calculations using an Antminer S19 Pro

It partnered with a local energy company En+, which sources its energy from hydroelectric power nearby, greatly reducing costs since the mining farm is utilizing the excess capacity that would otherwise be wasted. Because of this arrangement, the hydroelectric company gets at least a small amount for the otherwise wasted energy, and the mining farm gets energy for pennies on the dollar. This is what makes mining in Russia possible for some.

However, to pull this off, you need massive up front investment, partners in the energy sector, and technical know how.

The truth is, for most poeple, mining in russia will lose you a lot of money. If you want Bitcoins, you are better off buying them from one of the exchanges listed above.


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FAQ


Does Coinbase work in Russia?

Coinbase does NOT support customers in Russia as of September of 2020.


Where Can I Find a Bitcoin ATM in Russia?


bitcoin atm map

What is the price of Bitcoin in Russia?

The current price of Bitcoin in Russia is RUB 814,608, however this amount changes every minute, so always check the value on your local exchange.


bitcoin price ticker

What percent of Russians own bitcoin?

While it is very difficult to know with much certainty how many Russians own Bitcoin, we do have some small survey data to help us guess.

WCIOM conducted a study of 1,600 Russians aged 18 and older. It asks them a series of questions about Bitcoin, but when asked if the respondents owned any Bitcoin themselves, only 2% said they did. This is a fairly large sample size, however many Bitcoiners would be unlikely to admit that they own any Bitcoin, so the number could very well be higher than this.

Which stores accept Bitcoin in Russia

Bitcoin is not really accepted in very many cities or establishments in Russia. You can see the most activity in the South of the country (near Kemerovo, Abakan, and Novosibirsk, and others), as well as small blips in the West (in Novy Urengoy) and the South-East (in Magadan and Petropavlovsk-Kamchatsky) However, you can find specific kinds of services and goods filterable on a map over at coinmap.org.


map of stores that accept bitcoin
The colored sections indicate areas where there is heavier acceptance of Bitcoin

How do I cash out of Bitcoin in Russia?

Any exchange with a Russian Ruble trading pair will allow you to sell your Bitcoin for fiat currency. Matbea has RUB trading pairs for many popular coins.

Another way to sell Bitcoins in Russia is through automated teller machines (ATMs). These ATMs allow users to instantly purchase and sell cryptocurrency using cash, however most of them require at least a phone number, so they aren't totally private. You can locate Bitcoin ATMs in Russia using our Bitcoin ATM Map.

Local Bitcoins is another option. Here, you can buy and sell Bitcoin for a wide range of payment methods, from gift cards to bank transfers. Local Bitcoins is a peer-to-peer (P2P) exchange, where you buy and sell with another individual. This does introduce a degree of risk, though by ensuring that you conduct all business on the platform, make use of its escrow services, and only trade with users who have a good reputation, you'll minimize any potential problems.


localbitcoins offers

You could also use a service like eGifter to sell your Bitcoin for gift cards.

How much Bitcoin volume comes from Russia?

Russia is reaponsible for the most peer-to-peer Bitcoin trading volume of any other country on Earth, with $32M worth of Bitcoin being traded each month on LocalBitcoins alone. This doesn't include other P2P exchanges like Paxful. This number is harder to know, Paxful self-reports $2.2B in Bitcoin traded on their site each year, but other research suggests its more like $4.8M.

At any rate, numbers like these suggest that Russia is in the top 10 for Bitcoin volume overall, though you wouldnt know it based on how few establishments accept Bitcoin as money. Though, this is likely because Russia does not allow businesses to accept Bitcoin as payment.