Russian Crypto Guide: What You Need to Know About Crypto in Russia

When it comes to Russian crypto guide, a practical overview of how cryptocurrency is used, regulated, and avoided in Russia. Also known as crypto in Russia, it covers everything from government bans to underground trading networks. Unlike countries that embraced Bitcoin, Russia has walked a tightrope—banning crypto as payment but letting people hold and trade it privately.

It’s not illegal to own crypto in Russia, but you can’t use it to pay for goods or services. The Central Bank of Russia has pushed hard for the digital ruble, and many exchanges like KoinBX, a crypto exchange focused on Indian markets with strict compliance or Hibt, a platform reviewed for fees and security in 2025 aren’t even available there. Instead, Russians use peer-to-peer platforms, local Telegram groups, or offshore exchanges to trade. The China cryptocurrency ban, a comprehensive policy that shut down mining and exchanges is often compared to Russia’s approach—both countries restrict crypto to control capital flow, but Russia’s enforcement is patchy.

People in Russia still mine Bitcoin using cheap electricity, and many use crypto to send money abroad, especially since Western banks cut ties after 2022. You’ll find guides on how to buy crypto with bank transfers, how to avoid KYC traps, and how to use stablecoins like USDT to protect savings from inflation. Scams are common, so posts like the CoinRui review, exposing a defunct exchange that lost users’ funds or the deep dive into fake airdrops like WHX airdrop, a token with zero supply and no team are essential reading.

There’s no official Russian crypto exchange, but local traders rely on global platforms that don’t block them. The rules change fast—what’s allowed today might be banned next month. That’s why the best Russian crypto guide isn’t a law textbook—it’s a living collection of real experiences, warnings, and workarounds from people who’ve been through it. Below, you’ll find honest reviews, scam alerts, and clear explanations of how crypto actually works on the ground in Russia—no theory, no fluff, just what matters.