Report | What do Russians think about cryptocurrencies?
Report | What do Russians think about cryptocurrencies? Report | What do Russians think about cryptocurrencies?

Cryptocurrencies have become the investment of choice for many people around the world. A survey conducted by the Association of Forex Dealers (AFD) showed that most Russians now prefer to invest in digital assets. The survey results clearly show that options such as fiat currencies and gold have fallen out of favor with Russian investors. Even people who have never traded cryptocurrencies before admitted that they are now seriously thinking about buying them.

The survey was conducted between August 4 and August 24 on a sample of 502 respondents. More than 90% of them were men between the ages of 25 and 44. The survey participants’ sentiment towards cryptocurrencies turned out to be very positive. The vast majority believe that cryptocurrency prices will continue to rise. 8% of those surveyed said that digital assets will replace cash at some point.

Let’s look at the numbers a little closer

Russia is home to about144.4 million people, and the country’s main export is oil. The number of investors who chose to put their money in fiat currencies instead of digital assets was only about 14%. At the same time, 9% said they did not see any prospects in fiat currencies and would choose to invest in gold instead.

76.9% of those surveyed said they would rather buy cryptocurrencies than traditional assets such as fiat currency and gold. About 24.7% of this group admitted that they may not conduct cryptocurrency transactions in a month, but periods without conducting a crypto transaction do not usually last longer than three months. Over 17% revealed that they transact with digital currencies once a month. 35.1% admitted that they trade cryptocurrencies more than once a month. Finally, 23.1% of respondents stated that they have never made any transaction using cryptocurrencies.

See also  340 million cryptocurrencies distributed for free

A long-term approach to investing

The survey showed that investors are not just investing to record quick profits. More than half (51%) of the investors surveyed said they invest in cryptocurrencies for the long term. On the opposite side of the fence were investors (8%) who said they invest to make a quick profit and monetize their digital assets.

The majority of Russian investors believe that the sector will require regulation to make operating within it much more secure. 40.4% said that government intervention should be very limited in this regard, however. A small percentage (16%

) of those surveyed felt that the storage

and use of cryptocurrencies did not require any regulation. Interestingly, even 9% do not believe that there is any way the government could control digital assets.

You might be interested in:

= 728 ) betterads_el_width = [“728”, “90”]; else if ( betterads_el_width >= 468 ) betterads_el_width = [“468”, “60”]; else if ( betterads_el_width >= 336 ) betterads_el_width = [“336”, “280”]; else if ( betterads_el_width >= 300 ) betterads_el_width = [“300”, “250”]; else if ( betterads_el_width >= 250 ) betterads_el_width = [“250”, “250”]; else if ( betterads_el_width >= 200 ) betterads_el_width = [“200”, “200”]; else if ( betterads_el_width >= 180 ) betterads_el_width = [“180”, “150”]; if ( betterads_screen_width >= 1140 ) { document.getElementById(‘sanzydwxt-192260-75925413-place’).innerHTML = ”; (adsbygoogle = window.adsbygoogle || []).push({});}else if ( betterads_screen_width >= 1019 && betterads_screen_width < 1140 ) { document.getElementById(‘sanzydwxt-192260-75925413-place’).innerHTML = ”; (adsbygoogle = window.adsbygoogle || []).push({});}else if ( betterads_screen_width >= 768 && betterads_screen_width < 1019 ) { document.getElementById(‘sanzydwxt-192260-75925413-place’).innerHTML = ”; (adsbygoogle = window.adsbygoogle || []).push({});}else if ( betterads_screen_width < 768 ) { document.getElementById(‘sanzydwxt-192260-75925413-place’).innerHTML = ”; (adsbygoogle = window.adsbygoogle || []).push({});}]]>