CoinMarketCap takes a look at some of the best cryptocurrency apps in Russia.
Crypto applications are currently recording a boom in their users due to the explosion of the prices of cryptocurrencies. More people are willing to explore tools designed to improve the way we interact and use digital assets. For what it's worth, the higher the prices of crypto assets soar, the more we expect these apps to see a rise in their user base.
The same logic is currently playing out in Russian’s crypto scene. Unprecedented price movements have positively impacted the popularity of crypto apps in the country. While this is a given, not many crypto platforms available to Russians have been able to cope with this surge in demand. With this in mind, this article looks to handpick those platforms contending for the status of becoming the best cryptocurrency app in Russia.
Best Crypto Trading App in Russia?
Before setting out to identify the top-performing crypto apps in Russia, we already knew that crypto exchanges would dominate the conversation — this is because they are arguably the most popular entry points to the crypto market. However, our goal is not to identify the best trading app in Russia; instead, we are looking to come up with a more robust and inclusive list of crypto apps increasingly appealing to Russia’s crypto community. Even so, there is no way around the apparent dominance of crypto trading apps in Russia.
We tried as much as possible not to restrict this list of Russian crypto apps to crypto exchanges. We showcased other platforms that aid a user’s crypto trading experience and added top wallets and market metrics apps.
While compiling this list, we considered the size of the user base of some of the listed apps to back up our claims. There was also the need to explore the features of the apps and highlight their selling points. Below are currently the best crypto apps accessible in Russia.
Binance App Russia
Understandably, Binance has emerged as one of the go-to apps for traders in Russia. According to a recent report, the exchange recorded an average of over 31,000 daily active mobile app users from Russia in February 2021. In contrast, the number of daily active users was only 3,000 the previous year. It is worth mentioning that Binance had launched a P2P trading service for the Russian ruble back in February 2020 as part of its localization plans for the budding crypto community in the country.
Top among the list of the appealing features and benefits provided by the Binance app in Russia is access to a wide array of altcoins, trading pairs and other income-generating services. Binance currently features over 350 coins and 1,200 crypto pairs (May 2021). With the standard trading fee set at 0.1%, Binance offers one of the most affordable trading platforms in the industry.Russian
Coinbase App Russia
Globally, Coinbase is considered a powerhouse in the crypto industry. However, starting from September 2020, the platform stopped supporting users from Russia. Therefore, there are limits to what you can do on the Coinbase app in Russia. Nonetheless, this has not stopped Russians from capitalizing on some of the basic functionalities of the Coinbase app, including wallet transfers and the Coinbase Vault offering.
Coinbase Wallet App Russia
Although the Coinbase app no longer supports Russia, the Coinbase Wallet app, which is a separate entity, is readily available globally. The wallet is one of the most secure and reputable multi-currency crypto wallets out there. It also helps that the solution integrates seamlessly with most DeFi protocols.
Kraken App Russia
The Kraken app has also become a prominent player in the Russian market to the extent that it has created a version of its website designed for Russian-speaking traders. Users can buy selected cryptocurrencies with credit or debit cards when using the Kraken app in Russia. The mobile app has all of the tools necessary for users to execute trades and enjoy other crypto services on the go.
OKCoin App Russia
OKCoin is appealing to Russian traders because it offers both basic and advanced systems for trading cryptocurrencies. The trading app allows Russian residents to purchase crypto with wire transfers. On the advanced side, you can access tools for engaging in margin trading when accessing the OKCoin app from Russia.
Bybit App Russia
Bybit is a crypto futures exchange looking to corner a significant share of the crypto market in Russia for itself. In November 2020, the exchange revealed that it had partnered with Mercuryo for a fiat on-ramp solution that supports an array of fiat currencies, including the ruble. This helped push the demand for the Bybit app in Russia. Also, the trading platform offers multi language support for Russian users.
CoinMarketCap App Russia
Considered one of the most reliable crypto metric platforms in the industry, it is easy to see why CoinMarketCap has one of the popular crypto apps in Russia, even though it is not an exchange. The app comes with vital and real-time data which traders can use to gauge market movements and trends. In addition, it has a dedicated crypto education service that explains crypto concepts and processes. As such, the CoinMarketCap app is not just a market analysis and metrics platform, but it also doubles as a learning tool.
Blockchain.com Wallet App Russia
Another popular crypto app in this territory is the Blockchain.com Wallet app. The platform now averages over 12,000 active daily users. This is due to its reputation as a formidable crypto wallet solution with seamless features, including a crypto swapping service.
Trust Wallet App Russia
Trust Wallet has established itself as a robust wallet solution for the Ethereum ecosystem. Therefore, it made sense that Russia’s crypto community has adopted its app en mass. As of February 2021, the average number of daily active Russian users was 10,385.
Conclusion
After we had reviewed the prominent crypto apps in Russia’s crypto scene, it was clear that much of the crypto activities attributed to the local crypto community centered around cryptocurrency trading. If this is the case, then the Binance app, which currently accounts for the highest daily active users, is in good position to emerge as the best crypto app in Russia.
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