First physical bitcoin exchange launched in Russia

Investing | August 19, 2016 By:

First physical bitcoin exchange office has been opened in Moscow by a team of bitcoin enthusiasts.

Unlike online bitcoin exchanges and bitcoin ATMs, this Russian bitcoin exchange is an office. Open 24 hours, people can drop in anytime to sell their digital currency for Russian ruble. The whole process works just like a forex counter at the airports and train stations.

The office is located at Novy Arbat, 8 St. At the moment, customers can only sell bitcoin. Buying cryptocurrency is not possible at this exchange by now. All the transactions will be conducted privately.

The initiative comes a few day after the reports that Russian authorities abandoned the idea of criminalising operations with cryptocurrency and the draft law on “surrogate money” was returned for revision to the Ministry of Finance.