When people talk about a Russian crypto exchange, a digital platform where users in Russia buy, sell, or trade cryptocurrencies under local laws and restrictions. Also known as Russia-based crypto platform, it’s not just another exchange—it’s a system shaped by sanctions, state control, and sudden policy shifts. Unlike exchanges in the U.S. or Europe, Russian platforms can’t just operate freely. Since 2022, the government has forced crypto firms to register under strict rules, banned foreign exchanges like Binance and Kraken from serving Russian users directly, and pushed people toward state-approved services like Russian crypto exchange platforms that comply with the Central Bank’s monitoring systems.
That’s why many Russian traders now use peer-to-peer (P2P) trading, a system where users directly exchange crypto for rubles or other currencies without a central intermediary. Also known as crypto OTC trading, it’s become the backbone of crypto activity in the country, bypassing official restrictions. At the same time, crypto wallets, digital tools that store private keys and let users control their own crypto without relying on exchanges. Also known as self-custody wallets, it’s no longer optional—it’s essential. Hardware wallets like Ledger or cold storage solutions are common among those who want to keep assets safe from government interference or exchange shutdowns. Meanwhile, the Russian government continues to crack down on unlicensed mining operations, with the IRGC running massive illegal farms on stolen electricity, while ordinary citizens face rolling blackouts. The result? A fractured market: one side trying to follow the rules, the other side finding ways around them.
What you’ll find in this collection isn’t a list of top Russian exchanges—because most of them don’t exist anymore in their original form. Instead, you’ll see real stories about what happened to platforms like EQONEX and TOPBTC after they vanished overnight, how users lost access to funds, and how scams like fake KCCSwap airdrops prey on confusion. You’ll also find guides on how to spot a fake crypto exchange pretending to be Russian-approved, why multi-sig wallets matter more than ever in high-risk environments, and what happens when a platform like Metal X shuts down and then reappears as a zero-KYC DEX. This isn’t theory. It’s what people are living through right now.
Prizmbit is a niche P2P crypto exchange focused on Russian-speaking users, offering WAY-F coin trading against RUB. It lacks KYC, reviews, and transparency - but still works where others don't.