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To ordinary new crypto russians looking to use crypto to hedge against ruble failing or wanting to leave country with your wealth

All Cryptocurrencies

by COINS NEWS 200 Views

Reminder to russian citizens, crypto exchanges are refusing to Block ordinary citizens, for now! (sanctioned individuals still blocked)

Get Btc/eth/bnb or usd stablecoins usdc/busd/usdt and move it to selfcustody wallet if you want to leave or get out of russian banks before your current currency rubles collapses!

Btc blockchain pays fees in Btc. Store and move Btc

Then there are smart chains that can do a lot, first was eth, but many exist now. eth pays fees in ether and bsc in bnb. Most stablecoins are on smart chains and BTC has been wrapped and can be held on these smartchains too, cause anyone can create tokens on them, fees still in chain currencies and lots of scams so double check the contract addresses (Anyone can create tokens!)

Included bnb because binance is a huge trusted crypto exchange and 3rd largest crypto, with low fees(Btc withdrawal to non bsc address is pricy though).

Special note: usdt is a stablecoin that has the least trusted backing. Also issuers of usdc and usdt CAN freeze those funds to wallets.

Decentralized stablecoin DAI is also decent. Its backed by the before mentioned stablecoins, but it wont freeze funds.

About fees, Ethereum blockchain can be expensive for the non rich(more use, more cost) . Btc varies but cex withdrawal fees are the biggest issue, some have higher than others. Cheap bigger Ethereum competitors are bsc, sol, matic(eth layer2) etc. There are decentralized Bridges that can move value between smartchains.

Remember that for self custody: the seed phrase or private keys are what control the wallet address, never give them to anyone.

End note: stay safe out there everyone.

submitted by /u/Vivarevo
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