Bitcoin Exchange Counter Launched in Russia

Russia recently took a far more liberal approach towards Bitcoin than expected. Last week, the Russian government decided not to introduce criminal liability towards mining and usage of the digital currency.

Following the government’s move, the cryptocurrency community in the country has started to come up with novel ways of promoting the use of Bitcoin. Few Russian media outlets have picked up the news about an offline Bitcoin exchange that has opened in Moscow’s Novy Arbat Street 8.

Unlike online Bitcoin exchanges and Bitcoin ATMs, this Russian Bitcoin exchange is an office. Open 24 hours, people can drop in anytime to sell their digital currency for Russian ruble. The whole process works just like a forex counter at the airports and train stations.

This type of exchange model will not only help build trust among new users but also brings in more accountability to Bitcoin transactions. The exchange is being operated by a group well-known as on LocalBitcoins. They bring in their experience in the industry to a physical office based exchange operation.

Currently, it is a one -way exchange, where people can only sell Bitcoin for the ruble. The exchange charges 4% fee over the Read more ... source: NewsBTC USA