You Should Buy Bitcoin Russia, Now That It’s Becoming Legal

You Should Buy Bitcoin Russia, Now That It’s Becoming Legal

In this article, we discuss why people should buy Bitcoin Russia so that they can benefit from the government’s move in the next few months. In a press release, the Russian financial authorities declared that they have “no intention” to make Bitcoin and cryptocurrencies illegal. They also expressed their motivation to make a regulation to make cryptocurrencies easily accessible and useable. Thus, you should buy Bitcoin Russia before the prices rise.

Russia’s Relationship with Blockchain

Most Bitcoin enthusiasts agree that there isn’t enough regulation around Bitcoin. Having more constructive regulation makes the Bitcoin ecosphere much safer for beginners. That’s why we support Russia working on making Bitcoin legal in the country.

Russia has already shown its support for blockchain projects and cryptocurrencies when Putin met with Vitalik Buterin. They reportedly discussed how blockchain projects could benefit the people and the government. Putin then spoke in support of Buterin’s Ethereum project and could be working on an ICO. However, the Russian Central Bank much like the People’s Bank of China (PBOC) feels like cryptocurrencies could be dangerous for the economy. Earlier this month, the PBOC made ICOs illegal, as a way to protect investors’ interests so would Russia do the same?

This goes to show that Russia is now facing an internal battle over crypto currencies. Nonetheless, as long as Putin supports cryptocurrencies, we believe that Russia is moving towards a bitcoin-friendly environment.

Will Russia Make Crypto Legal?

However, both here agree that Bitcoin needs more regulation. The Russian government wants to primarily pin down the money laundering schemes and black markets that could still be rampant with Bitcoin. Since Russia doesn’t have KYC (know your customer) for exchanges yet, people who own Bitcoin are generally anonymous. That’s why some of the other fungible and anonymous currencies are used to launder money from overseas. That’s what the government wants to eliminate first. A Russian man arrested in June had allegedly laundered over $4 Billion in Bitcoin for clients all over the world.

In contrast to this, Putin seems pretty interested in legalizing Bitcoin. We might be able to see a move before 2017 ends, and thus a huge market opens up for Bitcoin. With this huge market, I think there’s a great chance that Bitcoin rises again to $7500, as Moas predicted earlier this year.

Buy Bitcoin Russia

In order to buy Bitcoin Russia, we recommend Coinbase where you can purchase your Bitcoin and keep it on their free online wallet! It allows users to buy as well as sell digital currencies on the platform. Coinbase is usually the first broker that people use while being introduced to digital currencies. Coinbase is a trustworthy exchange since it’s regulated in the US. It also offers real-time graphs and analytics free of cost, so that you can monitor your investment grow day by day.  

The website also has a digital currency trading platform which allows users to trade between currencies. For example, if you have Bitcoins and you want to swap them for Litecoin, you can look for users willing to complete the exchange.

The website also has an iOS and Android app, so you can buy and trade bitcoins on the road.

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About Article Author

Michael Serrano
Michael Serrano

Michael is an engineer and a bitcoin evangelist. He has been involved in cryptocurrencies since 2013. His biggest wish? 1 billion users of bitcoin, ether and litecoin by 2020. In the last 10 years he has worked for various early-stage start-up as a back-end developer.

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