Vladimir Putin: Bitcoin can become a store of value

• The President of the Russian Federation, in an interview with CNBC, expressed his attitude towards cryptocurrencies.
• According to him, they havevalue, can be used for calculations and as a means of accumulation, but not now.
• At this time, cryptocurrencies are too volatile and are not backed by anything.

Vladimir Putin gave an interview to the AmericanCNBC TV channel, which touched on the topic of cryptocurrencies. Hadley Gamble asked the President of the Russian Federation what he thinks about paying for oil in currencies other than the dollar, perhaps even in cryptocurrencies.

“Contracts in cryptocurrency?It is too early to talk about it. Cryptocurrencies can be a unit of account, but now they are unstable and unsecured. They, of course, can be used for settlements, but oil trading ... It's too early to talk about this. ", answered Vladimir Putin.

The president also added that the world is developing at a rapid pace, and in the future, perhaps, cryptocurrencies will become a store of value. But not today, because the market is fluctuating too much.

Putin noted that Bitcoin has a right to exist, despite the fact that it “is not yet backed by anything.” The President suggested that in the future Bitcoin could also be used as a store of value.

When asked about the lack of intrinsic value of cryptocurrencies, Vladimir Putin noted the following:

“Why aren’t they worth anything? They are standing.Simply, can this instrument be used for a unit of account when buying and selling oil? That's what we're talking about. And to mine cryptocurrencies, you need to use a large amount of energy created by traditional methods. First of all, we are talking about hydrocarbons.”

Let us recall that the Russian law “On digital financialassets”, which came into force on January 1, 2021, defines cryptocurrencies as property and prohibits their use to pay for goods and services in the country.

Where is it more profitable to buy cryptocurrency? TOP-5 exchanges

For a safe and convenient purchase of cryptocurrencies with a minimum commission, we have prepared a rating of the most reliable and popular cryptocurrency exchanges that support deposits and withdrawals of funds inrubles, hryvnias, dollars and euros.

The reliability of the site is primarily determinedtrading volume and number of users. By all key metrics, the largest cryptocurrency exchange in the world is Binance. Binance is also the most popular crypto exchange in Russia and the CIS, since it has the largest cash turnover and supports transfers in rubles from bank cardsVisa / MasterCardand payment systemsQIWI, Advcash, Payeer.

Especially for beginners, we have prepared a detailed guide: How to buy bitcoin on a crypto exchange for rubles?

Rating of cryptocurrency exchanges:

#	Exchange:	Website:	Rating:
1	Binance (Editor's Choice)	https://binance.com	9.7
2	Huobi	https://huobi.com	7.4
3	Exmo	https://exmo.me	6.9
4	OKEx	https://okex.com	6.5
5	Bybit	https://bybit.com	6.3

The criteria by which the rating is set in our rating of crypto-exchanges:

• Work reliability— stability of access to all functions of the platform, including uninterrupted trading, deposits and withdrawals of funds, as well as the duration of the market and daily trading volume.
• Commissions– the amount of commission for trading operations within the platform and withdrawal of assets.
• Additional features and services— futures, options, staking, NFT marketplace.
• Feedback and support– we analyze user reviews and the quality of technical support.
• Convenience of the interface– we evaluate the functionality and intuitiveness of the interface, possible errors and failures when working with the exchange.
• final grade– the average number of points for all indicators determines the place in the ranking.

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