Ninjastic
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Re: To what extent are Russians capable of storing their riches in Bitcoin?
by
NeuroticFish
on 28/02/2022, 11:50:03 UTC
Quote from: ETFbitcoin on Today at 11:43:43 AM
Quote from: NeuroticFish on Today at 11:34:21 AM
Quote from: BenjaminGlover on Today at 11:23:22 AM
However, is this even possible? What would a Russian do in this situation? Are they able to just transfer their Rubles to exchange, purchase Bitcoin, and then transfer it to a wallet?

Since Russia banks are out of SWIFT, Russians will not be able to transfer their rubles to most of the exchanges, hence I think that they don't have much of other choices than finding other individuals inside Russia willing to sell Bitcoin for RUR.

While they can't use most centralized exchange, their option isn't that limited. They still can rely on decentralized website and P2P/OTC medium such as Bisq and HodlHodl to find Bitcoin seller though.

From what I've understood from here (Romanian, here's a Google translation), if it's out of SWIFT, the customers of the bank can only withdraw money, nothing else. So I expect that - in a way or another - only face to face trades could take place there.