Moscow’s hidden crypto markets bloom with $10M daily trading volume

A Russian journalist, Alena Suharevskaia recently explored the hidden offline crypto markets in the country’s capital and published her findings. 

A Russian journalist, Alena Suharevskaia posted a piece of publication following her exploration of the hidden offline crypto markets in the country’s capital. In Moscow’s business center, Suharevskaia found several cryptocurrency exchanges, one of them, called Berkut or “Corporation Golden Eagle” has an average daily trading volume of over 100 BTC or almost $650,000 in current rate.

Transcations here are done pseudonymously, where clients come to the office bringing cash and documents proving its legality. After the exchange counting the money, they need to wait for another 30 minutes for the transaction to be confirmed on the blockchain. The exchange usually does a quick check on the client’s background, while the clients can enjoy the exchange’s luxury hall with large TV sets and game pad controllers. (Read more….)