Buying Cryptocurrency via Qiwi, Payeer, Yandex.Money

Qiwi, Payeer and Yandex.Money for buying Cryptocurrency... EXMO Cryptocurrency platform... Buying Bitcoin via Qiwi, Payeer and Yandex.Money...

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Buying Cryptocurrency via Qiwi, Payeer, Yandex.Money


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Specific features of the various electronic payment systems (EPS) and how they impact the process of buying cryptocurrencies


Each EPS has its own nuances that must be taken into account when using them, and the procedures for topping up and transferring funds from your wallet to your exchange balance are not identical.

User verification requirements, commissions and spending limits differ widely for different wallets, and all of these EPS features are subject to further variation depending on the user’s country. Below, we try to describe in the most general terms how each of the main e-wallets works.

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The Qiwi payment system on EXMO


The easy-to-use Qiwi payment system is quite popular across most countries of the CIS. The user merely needs to enter his or her passport data to gain access to virtually all Qiwi’s features. In other words, Qiwi accounts that have not been fully verified offer virtually the same range of services as verified accounts. In addition, Qiwi users can easily top up their wallets with cash or from a bank account, transfer money within the system with no commission (except for transfers to numbers in other countries) and acquire virtual and plastic Qiwi cards without problems. Amongst the system’s shortcomings are the occasional blocking of e-wallets and the difficulty of access experienced by Ukrainians and, in particular, residents of Belarus (the latter even have to enter a Russian mobile number to register with Qiwi).

Now and again, transfer of funds from Qiwi to EXMO can be temporarily suspended if the top-up limits set by the payment aggregator for all EXMO users are reached, through the service is usually restored after a few days.

Thanks to the fact that Qiwi covers four currencies (USD, EUR, RUB and KZT), various types of currency can be paid into Qiwi accounts, thereby solving the problem of how to buy cryptocurrency for dollars, tenge or euros.

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The Payeer payment system on EXMO


Payeer wallets are easily accessible for unverified users, but the system’s attractiveness is reduced by its internal commissions and reduced access to virtual cards compared to Qiwi. Nevertheless, Payeer also offers quite a wide range of methods of paying in and withdrawing funds, and in the context of this article, has the additional benefit of shutting down less frequently than Yandex.Money or Qiwi.

Like Qiwi, Payeer is a multi-currency payment system and can be used to buy Ethereum for dollars.

Furthermore, Payeer is accessible to residents of the CIS countries, with no major restrictions on grounds of nationality (admittedly, in Ukraine and Belarus withdrawing funds from Payeer can be complicated by the absence of the respective currencies in the wallet, but this problem is not insurmountable).

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The Yandex.Money payment system on EXMO


Yandex.Money is a ruble payment system mainly aimed at citizens of the Russian Federation, which means that it can be very difficult to use it in many other CIS countries (in particular, due to YM’s internal restrictions on verification of non-RF residents).

Yandex.Money offers a convenient interface and small internal commissions. Verification in the system is quite easy for RF citizens, but there are also extensive spending and top-up options without it.

Yandex.Money is quite popular amongst EXMO clients, though the downside of this – as with Qiwi - is that the payment gate limits are periodically reached, resulting in what, from the user’s point of view, looks like the temporary disappearance of YM from the list of potential pay-in methods.

In any event, e-wallets should not be used for long-term safekeeping of really large (by the user’s standards) sums of money – they should preferably be kept in a bank, where fiat money is concerned, or in cryptocurrency wallets.

When making a deposit in electronic money, it is important to take into account not only the commissions and limits on paying money into EXMO, but also to remember that topping up your account with certain types of electronic money entails a temporary restriction on withdrawal of funds from the exchange (known as a “hold”).


This restriction applies to any withdrawal of fiat or cryptocurrency assets, but it does not last for long.

Thus, the first time you top up your account from a Qiwi wallet there will be a 24-48-hour hold on funds withdrawals. There will be no hold when you make subsequent payments from the same Qiwi wallet.

When using YM, there is a 72-hour hold on withdrawals for the first deposit payment.

All restrictions of this kind must be stated alongside the interface for topping up from a specific e-wallet.

It should be noted that most methods of depositing funds do not involve a hold on withdrawals.

Follow all updates on the EXMO platform in the News section of our website or via our official Telegram, Twitter and Facebook channels.

You can find useful information about cryptocurrencies and exchange trading on EXMO’s YouTube channel.

Additional materials that may help you:
Withdrawals in USD and EUR Through Neteller
Visa and Mastercard new options available on EXMO
How to Buy Crypto on the Cryptocurrency Exchange
Bitcoin Gold: how to buy and where to keep?
How to buy bitcoin with Rapid Transfer?

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Best regards, EXMO team

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