How to Buy Cryptocurrency in Ukraine
Buying cryptocurrency in Ukraine
Patterns of crypto use vary from country to country. For example, people in Ukraine and Russia use cryptocurrencies to send money for cross-border and business-to-business transactions, in hopes to avoid banking regulations. While crypto whales drive crypto growth in China, Ukraine’s retail investors are the driving force behind crypto adoption in the country. The East European country with a population of 42 million contains two factors, which apparently make for a good recipe for crypto use, tech-savvy citizens and an unstable economy. What’s more, Michael Chobanyan, founder of the first Ukrainian crypto exchange (Kuna), stated that smaller businesses using crypto to circumvent foreign currency regulations, turn around up to $5 million worth in crypto weekly. Both in Ukraine and Russia, the pandemic proved to be another driving force for adoption. Ukraine’s economy was hit pretty hard, leading many Ukrainian citizens to turn to cryptocurrencies as a new source of income.
As of 20/03/2021
These exchanges all accept customers from Ukraine. While they broadly offer the same services and you can buy cryptocurrency at all of them, there can be differences in transaction fees, security, verification requirements, deposit methods and features, as shown below
Based in Singapore and registered in the British Virgin Islands, Bybit is a P2P cryptocurrency exchange offering perpetual futures products with 100:1 leverage. Bybit can process 100k transaction per second which is a great feature for leveraged trading.
- Advanced and secure technology
- Anonymous accounts
- Attractive trading bonuses
- Very low fees
- Limited asset coverage
- No option instruments
Kraken has a good reputation for security and protection of your funds and operates across the USA (except NY), Canada, the EU and Japan
- It can be used to trade against fiat options
- Robust security measures
- Free SEPA deposits in Europe
- Not a very beginner-friendly interface.
- No card deposit options