Russia Bans Use Of LocalBitcoins

Russia stance towards Bitcoin users has been swaying over the past few months. Initially what was a negative and punishment heavy view on Bitcoin use, Bitcoin led to many being arrested etc. However respite was thought to be coming in the form of an update bill including regulation for Bitcoin as a financial medium. Sadly this may be on hold indefinitely as, Russia has prevented access to one of the biggest peer to peer exchanges, LocalBitcoins.

Russia’s heavy handedness on Bitcoin users may have lead users to think a blanket ban would soon come into place. While the exchange was surprised at the decision and its immediate effect, the plan was 2 months in the making as seen in the picture below. This sadly leaves a lower variety of exchanges to fill; the whole LocalBitcoins does leave but advice was given on how to regain access through what may be illegal means on the blog post.

roskomnadzor localbitcoins

“Recently, Roskomnadzor, it was decided to block LocalBitcoins in Russia. For us, as well as for you, this decision was much unexpected. The instructions below will help you to continue to use our resources, in spite of the lock LocalBitcoins.”

This leaves many authentic and reputable exchanges such as NairaEX to fill in the market share. Due to the anonymous nature of a VPN you will never know who is keeping a track on your data. Your details will be passing through someone’s server leaving you vulnerable. Luckily NairaEX remains active and legal in Russia. If you do want to buy Bitcoin head on over to the NairaEX exchange to buy Bitcoin in a matter of hours with Naira. You can easily convert rubles to Naira via the countless Forex services currently in business. This remains the safer alternative to using VPN and other anonymizing software which may implicate you legally and financially.

Written By

Hi I'm Aleppo Allesadero a experienced bitcoin user and educator. Having worked for over a year in the bitcoin journalism ive seen bitcoin grow from strength to strength asserting its power against fiat currency. Hopefully you too can learn about this exciting new prospect which may help transform the way we see finance and economy on a daily basis.