No Fees, But Paid Entry: Cryptocurrency Exchange “For the Rich” Launched in Moscow

German Sterligov, an eccentric Russian entrepreneur, has launched a cryptocurrency exchange named CryptoSterlingClub Alice.

“Back in the early nineties, there was an exchange called Alice. It was similar in some way: there was no regular legislation concerning some issues, just like in cryptocurrency nowadays. So, there are some nostalgic references here. We decided to call it Alice once again, and even opened the office [on the same street],” Sterligov told RBC.

The entrepreneur stressed that no fees will be involved in transactions.

“We’re not involved in selling. We don’t have any fees for transactions. Our cost will always be higher than at regular exchanges. That’s because we have live communication, live trading, and there are more buyers than sellers. It’s a platform to make big transactions like buying 5,000 bitcoins at once, which is impossible at regular exchanges,” Sterligov said.

However, he noted, one will have to pay in order to enter the exchange.

Earlier, Sterligov stated that he decided to get involved in selling bitcoins after hearing Russia’s Vladimir Putin speaking positively about cryptocurrencies.