Russian People Aren’t Very Interested in Cryptocurrencies

Russian People Aren't Very Interested in Cryptocurrencies
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On Thursday, Russian news agency Kommersant reported that Switzerland-based cryptocurrency wallet provider Tangem was conducting a survey in order to learn more about cryptocurrency investors in the country.

Many Don’t Know What Crypto Is

An estimated third of the Russian population does not intend to ever purchase cryptocurrencies, according to the study, and based on Tangem’s own estimates, only 6% of people surveyed by the company understand what the term refers to. In their view, one of the most negative aspects of such assets is that there is little material support for them.

There has been a growing distrust of digital currencies among Russians, which experts explain by the fact that there is no regulation and there is the risk of blocking accounts. There has been a gradual change in the situation: during the spring, the interests of Russians were sparked by the currency restrictions which had been imposed by the government.

There is no doubt that Kommersant has become familiar with the Tangem survey data that shows that only 6% of Russians are well versed in the topic of cryptocurrencies, despite the fact that almost 80% are aware of the term itself.

However, only 6% are well versed in cryptocurrency in cities with a population of 100 thousand or more. As a whole, fewer than half of respondents (45%) say they have a positive opinion of digital currencies, almost the same number (46%) think they have a neutral opinion, while 9% are against them.

Russian People Aren't Very Interested in Cryptocurrencies

In the meantime, less than a third (31%) of the respondents to the survey have expressed that they are ready to purchase cryptocurrency in the next six months, and almost the same number (30%) have no plans to purchase cryptocurrency in the near future.

It is still unclear what will happen to the remaining 40%. In the survey, 72% of respondents said they have never bought cryptocurrency, 15% said they bought cryptocurrency for less than $100, 9% said they bought between $100 and $1,000, and 4% said they bought more than $1,000.

Among the reasons why investors decided to buy such instruments (68%), they wanted to understand what kind of instrument it is.

They wanted to save money (22%), they wanted to diversify their investment portfolio (19%), they wanted to pay for services, goods, and services (18%), and they wanted to protect themselves against inflation and exchange rate fluctuations (16%), and they wanted to trade on the stock exchange (16%).

As of this writing, 24% of respondents own cryptocurrency, 7% own assets worth less than $100, 9% own assets worth $100 to $1,000, and 8% own assets worth more than $1,000.


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