Russians started to buy stablecoins in huge quantities following the start of a special operation to stop Ukraine. Find out why this cryptocurrency is so well-known and the best way to buy stablecoins.

What is Stablecoin?

There are people who use fiat currency in the offline world to calculate the cost of goods and services. But, the world cryptocurrency uses its own metrics such as the size of the block, hashrate or the amount of transactions. https://www.latimes.com/business/technology/story/2021-12-24/a-begi... 've developed a digital asset linking to fiat currencies and precious stones in order to increase the accessibility of the blockchain.

Stablecoins, also known as digital coins, are tied to the US Dollar (USD) at a ratio of 1:1. Tether, which released the USDT cryptocurrency in 2015, was the first to release this kind of cryptocurrency. Tether also provides other stablecoins like Circle's USDC or BUSD. These coins are issued by Binance, a crypto exchange. The name of the company that created it is indicated by the letter that ends in.

Stablecoins are a simple way to convert fiat savings into digital currency that can be immediately traded or invested. https://www.sofi.com/crypto-guide/ can help you protect your cryptocurrency investments. In times of volatility, it is possible to transform cryptocurrency into stablecoins to allow you to sit and wait for better market conditions. The primary advantage of stablecoins is their capacity to act as a substitute for settlements when the currency exchange rate is not stable and it is difficult to acquire a foreign currency.

What is the reason for an increase in stablecoin demand?

The demand in Russia for cryptocurrency to protect savings has grown in the past two weeks. Alongside the rise in the deposits of cryptocurrency exchange and withdrawals, there has been an increase in the number of users. The second most sought-after cryptocurrency, following bitcoin, is stablecoins , and specifically USDT.

The data shows that since February ended the number of users visiting various trading platforms has increased by 2-3 percentage. Demand for USDT is much higher than that for bitcoins and other popular cryptos. Because the stablecoin acts as a substitute for American dollars, it's difficult to buy it now.


For instance that the EXMO cryptocurrency exchange recorded a large influx of deposits in rubles. Binance has stopped accepting Visa as well as Mastercard cards that are issued in Russia through the exchange.

If you're Russian and have moved abroad cryptocurrency, crypto, and in particular stablecoins, are a great way to perform money transfers between countries. Stablecoins can be used to quickly transfer savings between rubles and foreign currency.

The amount of purchases and selling of cryptocurrency on P2P platforms which allow transactions with cryptocurrencies to are conducted between people, has also increased. The platform acts as an intermediary and guarantor of the transaction. After buying cryptocurrency, the buyer transfers it directly to his crypto account and then to his bank account.

What is the best way to buy Stablecoins Today

Crypto Exchanges

Stablecoins bought through a central exchange is the best method to guard yourself against scammers. Unfortunately, many of these exchanges have implemented restrictions and make it difficult or impossible for Russian passport holders to use. For one solution, you can use cryptocurrency exchanges that are decentralized (DEX) which do not store user funds. A commission of a specific Blockchain is charged for each operation that is carried out on this exchange platform.

P2P platform

It is a model of interaction that operates in a way that is equal. There are many p2p websites which connect users who are looking and require to sell or buy stablecoins. You can get amazing deals on buying cryptocurrency currencies in rubles. In addition, the platform itself acts as a guarantor of the transaction.

The transaction can be completed in two steps:

The buyer gives to the seller the amount at which he would like to purchase stablecoins.

The seller will send the buyer a crypto currency to his crypto wallet.

To avoid losing money, use a the most reliable and trustworthy p2p platforms. Before you make any purchase make sure you check the amount of orders and the percent of order completion. It will indicate that the seller is trustworthy If there are more orders. Even if your success rate is low and the site has a large following but it doesn't necessarily mean that you'll get "thrown". But there is a risk of delays and slow reactions from the seller.

Exchangers

There are two kinds:

- Online: The online exchanger allows the user to enter his data, receive payment information, complete a transaction and receive cryptocurrency to his wallet.

Online exchangers work in a way that is automatic. If you are making an exchange in rubles, make sure that the amount you pay for is correct. In the event that it is not, the robot will not recognize it. If you want to use the services of an exchanger, you'll need to pay a 3-5% commission.

Offline exchangers operate in the same way as banks branches. You can make a payment only through the exchanger.

How to get rid restrictions

In the midst of declining rubles and the inability to buy euros or dollars, cryptocurrency have been one of the only viable options to help save capital. Similar circumstances have also been witnessed in Turkey (Venezuela) and Venezuela (Ecuador).

Stablecoins can be utilized as an alternative to foreign currency. They are digitally equivalent to the dollar and therefore are more secure than other cryptocurrency.

In general, experts suggest using stablecoins to conduct tasks that are not currently available in Russia due to the restrictions that are imposed. It is better to convert these tasks into cash or other cryptocurrencies that are decentralized when you've completed the process.