Binance Bans Russians from P2P Transactions… Except for the Fun Stuff

It looks like Binance has just pulled the rug from underneath Russian users trading in the P2P transactions realm. No more buying or selling for those folks in the Dollars and Euros market. Following multiple reports about this ban, we had to get the scoop.

Why the Ban?

According to Binance’s statement, the P2P ban applies to all Russia-based users – which basically means they can’t buy/sell in USD or EUR anymore.

The reason behind this ban? Well, Binance basically says they don’t feel they’re able to comply with all the local regulations when it comes to these types of transactions. Therefore, it’s safer for them to just impose the ban to play it safe.

What about the Fun Stuff?!

Relax! This won’t affect certain activities related to cryptocurrencies. You know, fun stuff like playing online games with crypto.

Don’t think you’ll miss out on the buying/selling part – you can still go the usual way and conduct those P2P transactions with the other popular digital currencies like Bitcoin.

Final Thoughts

At the end of the day, it’s a good thing cryptocurrency users are kept safe from potential shady transactions. Binance’s decision will protect a lot of people. It’s just unfortunate that aspects of the fun stuff will be a bit more difficult to access for Russia-based users.

If you’re wanting to purchase various cryptocurrencies with USD or EUR, here are a few ideas on how to do it:

  • Shop with at local exchanges like bitcoin.org.

  • Purchase with gift card providers like GiftOff.

  • Buy from crypto ATMs.

This, at least, will enable you to get the cryptocurrencies you need.

Sure, Binance’s P2P ban is a bit of a bummer. But hey – it’s a small price to pay for peace of mind, right?