Ninjastic
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Board Bitcoin Discussion
Re: To what extent are Russians capable of storing their riches in Bitcoin?
by
KaliLinux
on 01/03/2022, 08:36:31 UTC
Quote from: ETFbitcoin on February 28, 2022, 11:43:43 AM
Quote from: NeuroticFish on February 28, 2022, 11:34:21 AM
Quote from: BenjaminGlover on February 28, 2022, 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.
it is kinda dicey. With the free fall of the Russian Ruble, who will really want to sell their Bitcoin for RUB when others are trying to sell out of the RUB Huh because that is the currency they are holding to trade with. I think if this has not been done already, regardless of the options they have via these DEXs it will be deficult.