**Exciting News! Russian P2P Crypto Market is Booming at $296m a Day!** 🚀
The Russian P2P (peer-to-peer) crypto market is on fire 🔥, with reports showing that vendors are handling a whopping $296 million worth of trades each day! 💰 This info was shared by Schard, a cryptoasset security platform, at a blockchain conference hosted by the Russian banking giant, Sber.
Crypto is still sailing in uncharted waters in Russia, with little to no regulation despite years of discussions in the political arena. 🌊
Many other countries have a licensing system in place for crypto exchanges, leading some of Russia’s major crypto trading platforms to set sail for overseas shores in search of regulated environments. 🛳️ This exodus, though, has created room for smaller exchanges and over-the-counter deals to thrive in the Russian market. 📊
Schard revealed that an average daily trading volume of $296 million is up for grabs for Russians looking to buy or sell cryptocurrency for fiat. 🔄 Most vendors prefer sending their fiat to accounts held at large banks, while buyers often use debit or credit cards issued by major commercial banks to seal the deal. 💳 The majority of these buyers and vendors are utilizing unregulated online exchanges for their transactions. 🌐