Russian Crypto Exchanges: What’s Legal, What’s Risky, and Where to Trade

When you talk about Russian crypto exchanges, online platforms where users in Russia buy, sell, or trade cryptocurrencies despite government restrictions. Also known as crypto trading platforms in Russia, they’re the only way millions of Russians access Bitcoin, USDT, and other digital assets after banks were cut off. It’s not about choosing the best exchange—it’s about finding one that still works when the state is watching.

Most Russian crypto exchanges don’t have Russian licenses, and none can legally connect to local banks. That’s why users rely on peer-to-peer (P2P) trading through platforms like MEXC, a global exchange with strong P2P support that Russians use to swap fiat for crypto without bank involvement. Others turn to Bybit, a non-KYC exchange that lets users trade with minimal identity checks and accepts Russian ruble deposits via P2P. These aren’t just alternatives—they’re lifelines. The Russian government doesn’t ban holding crypto, but it bans banks from touching it. That’s why wallets like Trust Wallet and MetaMask are more common than bank apps.

What you won’t find are big-name Russian exchanges like the old Bitfinex Russia or local platforms that once promised easy ruble deposits. Most got shut down or moved offshore after 2022 sanctions. Today, the few platforms still active in Russia operate under strict anonymity—no ID, no address verification, no customer service. That’s not a feature; it’s a survival tactic. If you’re using one, you’re likely trading USDT for rubles via Telegram bots, paying in cash, or using crypto-to-crypto swaps. And yes, it’s risky. Scams are everywhere. Fake exchanges like Coinbuy.cash pop up daily, pretending to be Russian-friendly. But real users stick to exchanges with proven P2P volume and community trust.

The rules change fast. In 2025, Russia’s Central Bank pushed for a digital ruble (e-CNY equivalent) to replace crypto use. But people still trade. Why? Because inflation eats savings, and crypto is the only way out. You won’t find official guides from the government—but you’ll find thousands of Reddit threads, Telegram groups, and YouTube videos showing how to bypass restrictions. The real question isn’t whether Russian crypto exchanges are legal—it’s whether you’re willing to trade in a space where the rules are written in shadows.

Below, you’ll find real reviews of platforms Russians actually use, deep dives into how P2P trading works under sanctions, and warnings about the scams that look like lifelines but are traps. No fluff. Just what works—and what gets you locked out of your money.