Russia's cryptocurrency's appetite for investment rises despite the bearish market of 2018

The international cryptography markets may have had a bearish trend for the better part of 2018, but Russia's appetite for digital resources has increased. Krypton enthusiasts in Russia dominated transactions with the Localbitcoins P2P platform, placing the Rubble among the most important currencies traded for digital currencies. Furthermore, cryptographic acquisition platforms for Russians have seen an increase during 2018!

The Crypto Fever in the Russian population

The holders of encryption quotas are confident 2019 will be different from the most bearish year in the history of the crypto (2018). It has been during these 12 months that we have seen a good part of the market capitalization in the cryptography canceled after some bloodbaths. Bitcoin has lost more than 80% in value from its attractive maximum of $ 20,000 when 2017 ended. However, Olga Prokhorova, a member of the team at the International Financial Center argues that this situation did not affect the appetite of the Russians for digital resources.

In a recent interview, Prokhorova told the federal press that the statistics collected by the researchers at the University of Cambridge indicated an increase in the number of verified users in the cryptocurrency web. According to these statistics, users have increased to over 30 million causing the same effect on the use of P2P platforms like Localbitcoin. The member of the IFC team added that countries that have benefited from financial funding such as Venezuela have shown greater participation with other players such as Russia joining this bandwagon.

Russia's appetite for digital currencies has grown during 2018. Coin Dance provides statistics to support this claim; The business activity of Localbitcoins in Russia increased gradually, closing the year above. Initially, the platform facilitated coin trading worth $ 10.6 million and ended the year with a $ 18 million weekly trade.

Crypto Purchase of avenues in Russia

With the increasing options in the crypts, it is not surprising that the Russians have different options when it comes to buying digital currencies. The country is friendly with a couple of crypto exchanges, whose services are so far considered reliable by the public. You can easily buy Bitcoin or Altcoin from Bitstamp, Bitfinex and Exmo while in Russia, provided they meet KYC requirements and meet transaction obligations. In addition, crypto enthusiasts can access less popular coin platforms such as Livecoin, C-cex and Hitbtc. Huobi has also moved into this potential market and has since incorporated a Russian website for this purpose.

Alternatively, experienced cryptographic users can leverage Webmoney to access cryptographic coins. The platform has made efforts to enable the trade of fiat-crypto currencies for its customers. Its advantage is to have direct links with banks that facilitate the collection of digital resources on their credit card. However, the analysis shows that this approach could be expensive due to the high nature of exchange rates.

This growing popularity of cryptographic exchanges in Russia has led to stricter due diligence measures to protect consumers. At the moment, cryptographers are able to perform background checks through "Best Change", this platform is designed to provide Russians with information on the legitimacy of exchange networks. Furthermore, you are able to obtain the options available for fiat-crypto exchange through this website.

Another development that seems to have found its way into the Russian market is cryptocurrency ATM. To date, 20 of the cities in the country enjoy a good number of these machines, although they are mainly dedicated to popular altcoins such as BTC, LTC, ETH and BCH. Some of the machines have advanced features to facilitate cryptocurrency sales at the same time. The latest product to be launched in this market is a Russian BATM tracker, a concept whose fundamental value can only be revealed with time!

The final road for cryptocurrency trading in Russia are the Telegram robots. These have been programmed to support communication in Russian and to link potential sellers and buyers for a fee.