Buying Bitcoin in Former Soviet Countries Becomes Available Via Common Money Transfer Services

News and Analysis

Regardless of Russian authorities’ cryptocurrency stand-off and generally slow Bitcoin integration in all countries of former USSR, many local companies carry on operating and developing in the industry. Thus, Bitcoin is now available for exchanging in 130 countries around the globe including former Soviet republics via popular instant money transfer services.

This was announced in a popular international exchange 247’s blog. The project was launched by the company in association with money transaction processing service MoneyPolo.

Bitcoin buying and selling will be available at more than 400,000 locations including banks, stores, post offices and currency exchanges. In order to buy or sell cryptocurrency one doesn’t have to have a bank account or a card, as Bitcoin sales is available via popular money transfer services such as Contact, Unistream, Anelik, Leader, Blizko, PrivatMoney, Caspian etc.

Anton Vereschagin, founder, said:

“Our global purpose is making Bitcoin available to common public, and our cooperation with MoneyPolo is a giant step on that way. Generally our team works on making Bitcoin buying process as simple as, say, mobile phone top-up. That’s a challenge of some kind, but we’re sure we’ll make it.”

Currently one may exchange not just Bitcoin, but also such cryptocurrencies as Peercoin, Litecoin, and Namecoin.

According to the official release, no fees for buying/selling cryptocurrency via instant money transfer systems will be imposed until May 15th.

247Exchange is a project by financial companies group InterMoney Exchange. The service exchanges such cryptocurrencies as Bitcoin, Litecoin, Namecoin, and Peercoin.

MoneyPolo is a Mayzus Financial Services Ltd. trademark. One of the company’s primary fields of activity is money transfer, which was launched in 2009. Since then the company proved itself reliable and responsible, and currently has around 150,000 clients worldwide.

UPD: 12.05.2015 17:50 MSK – Russia again without easy access to Bitcoin

Speaking to ForkLog, 247exchange added, that buying and selling of bitcoins via the announced service will be available for all CIS countries except Russia.

Andrey Vereschagin, marketing director of 247exchange, said:

“This very service (Bitcoin entries and withdrawals via instant money transfers) is not available for Russia as yet, though technically it’s completely possible. Bitcoin status in Russia is still pending. If the lawmakers’ resolution turns positive for cryptocurrency, what we place our reliance upon, we’ll include Russia the next day. Anyway, other methods of buying and selling BTC in Russia are available now (debit and credit cards, SWIFT transactions etc.).”

As Bitcoin status in Russia remains ambiguous, 247 continues expanding into international markets. The company sees prospectives in Africa, Canada and the United States.

We lay emphasis on instant buy/sell operations for BTC. Such volatile currency as Bitcoin should embrace those methods. Also we constantly extend local ways to exchange cryptocurrencies viable in various parts of the world. Clients, wherever they are, should have a way to buy or sell their cryptocurrency fast and with minimum expenses involved,” added Vereschagin.

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