Instead of Binance: which P2P platforms are ready to work with Russians

Binance’s restrictions for Russians are not unexpected. Back in March, the country s citizens were banned from buying/selling dollars and euros on the platform. Trading in any foreign currency is now banned. What do the new bans have to do with?

On August 22, the Wall Street Journal published an article naming Binance’s share of the Russian crypto market and citing evidence of help in circumventing international economic sanctions. At first, Binance simply renamed the sub-sanctioned banks: Sberbank and Tinkoff cards began to appear on the exchange as “green local” and “yellow local”;

However, users and regulators quickly realized this, and the platform almost immediately withdrew support for toxic cards altogether, and then banned P2P transactions with any currency other than the ruble for Russians. On August 29, the OKX exchange blocked, on the contrary, the ability to pay with rubles – and cards of sub-sanctioned banks. Major Russian banks have been banned on Kucoin and Bybit.

The new restrictions have inconvenienced holders of rubles who need foreign currency. Travelers, businessmen, Russians living abroad, anyone who paid for foreign services like Steam, PS Store or Netflix subscription;

The initiative will result in a certain number of customers leaving Binance and similar platforms. The largest exchange is already considering a complete withdrawal from the Russian market.

Despite the limitations of the major platforms, there are still enough platforms willing to work with Russians. Let’s list some of the most convenient ones.

Alternative P2P sites
1. emcd.

Cyberbank emcd. is among the top 10 mining pools in the world, and is also one of the largest software development companies for mining and circulation of cryptocurrencies. В emcd. there is also its own P2P platform available to Russians. You can use cards from a wide variety of banks for transactions: there are the popular Sberbank and Tinkoff, as well as something more rare, such as Ak Bars Bank. User suggestions can be sorted by bank of interest.

Transactions are conducted quite quickly: on average from a few minutes to two hours. Your funds will be frozen until they are fully finalized. Commissions are charged for transactions, but no more than 0.3% per transaction per participant.

Registration on Hodl Hodl is standard: email, nickname, password and its confirmation, as well as referral code if available. Two-factor authentication is available. Among the supported banks: Sber, Alfa-Bank, Uralsib and others, but there are offers not for all of them. You can verify this in the “All payment methods” tab. Multi-signature escrow addresses are used for secure transactions on Hodl Hodl.

Source: https://hodlhodl.com