The popularity of cryptocurrencies in Ukraine is constantly growing, more and more Ukrainians are looking for where to invest their hryvnia to get passive income. This is evidenced by the statistics of the BRDO effective regulation office - Ukraine entered the TOP-10 countries in terms of the number of cryptocurrencies used as of 2018.

Ukrainian blockchain developers are also actively developing. According to the Ministry of Digital Transformation of Ukraine, the country is one of the three leaders in terms of community size.

Accordingly, it becomes necessary to exchange cryptocurrency in the simplest and most reliable way. 7Money has prepared a list of the best options for exchanging cryptocurrency in Ukraine.

At the moment, there are many options, but each of them has its own nuances and differences: difficulty in mastering, exchange rate, security and rate.

Listing the main methods, we can distinguish:
exchange using online services (exchangers);
buying cryptocurrency on specialized exchanges;
purchase within payment systems;
physical offline cryptomats;
exchange in person.

Let's take a closer look at each of them, highlight the main "pros" and "cons".

Online cryptocurrency exchangers

In terms of reliability and speed of transactions, this method has a direct advantage over the others.

To exchange, you will need to follow a few simple steps:
choose the best site for exchange;
decide on the pair to be exchanged;
fill in the required fields and pay for the application.

The process is very simple, but when choosing a service, you need to focus on: the minimum and maximum exchange amount, the offered rate, the reputation of the exchanger, the need to provide identity documents.

On 7Money - all of the above parameters have a competitive advantage over other offers on the market. You can get acquainted with the full list of offers on the Bestchange monitoring.

The most popular exchange pairs in Ukraine are:
Privat24 UAH to Bitcoin (BTC);
Privat24 UAH to Litecoin (LTC);
Privat24 UAH to Zcash (ZEC);
Privat24 UAH on Dash.

Benefits of online exchangers:
high speed of operations;
no extra commissions;
ease of making an exchange.

We recommend this method.

Cryptocurrency exchanges

The main advantage of exchanges is the ability to set your own price when buying and selling cryptocurrency for hryvnia. When choosing exchanges, we recommend that you be attentive to reputation, commissions, methods of replenishment, the need for verification.

Main advantages:
setting your own offer price;
a large selection of currency pairs;
there is always a supply, a large reserve of funds.

The main disadvantage of keeping funds on the exchange and making exchanges is often an increased commission and the ability to “get on a fraudulent exchange”. Also, one of the shortcomings can be noted the complexity of use for beginners.

We recommend this method for advanced users.

Payment systems

This method is considered the safest to receive cryptocurrency using an exchange operation. Usually it is suitable for those who are already registered in any payment system. The main ones are: Advanced Cash, Payeer, Perfect Money and others.

Benefits of payment systems:
the speed of transactions;
security of funds storage;
user friendliness - all in one place.

There are also disadvantages to this method: high exchange commissions, an unpleasant exchange rate and a small selection of cryptocurrencies.

We recommend this method.

Offline cryptomats

This method is the least popular and is practically not used by people, but it is not worth excluding the possibility of exchanging hryvnia for cryptocurrency in an offline cryptomat. Kriptomat is a regular terminal into which you deposit cash and indicate the address of the cryptocurrency wallet to which you need to transfer digital coins.

The disadvantages are obvious - often the rate is much higher than the market, the need to get to it and insecurity (loss of anonymity). Unfortunately, there are practically no such terminals in Ukraine, due to the lack of a legal framework for the cryptocurrency market.

In person

One of the most suboptimal and dangerous ways of exchange is the purchase of digital coins through a real meeting with the seller and the transfer of cash from hand to hand. It is especially dangerous to contact strangers on this issue, which you found on a forum or on a social network.

By exchanging cryptocurrency directly with a living person, you can be bribed with a profitable rate, but often this is one of the “tricks” of scammers. Experience shows that you can be left without money or without cryptocurrency.

We do not recommend this method.

Conclusion: Which is the Best Way?

It is necessary to be guided in the choice for various circumstances, one may be more profitable with the exchange option on specialized exchanges, the other with the help of payment systems. In each of the cases, study in detail the reviews of the service, the directions provided, the course and information on commissions.

7Money.co offers to exchange cryptocurrency in Ukraine in different directions and has an impeccable reputation. More than 6,000 positive reviews on external resources and high speed of operations are only a part of our advantages.