Nearly 80% of Russians know about cryptocurrencies, but only 6% understand them well – Bitcoin News

The vast majority of Russians living in big cities are familiar with the term cryptocurrency, but only a small percentage of them are familiar with the topic, new polls show. Experts say currency restrictions imposed earlier this year have helped boost interest and adoption.

A third of Russians are ready to buy cryptocurrencies in the next few months

Although 80% of Russian internet users have heard of cryptocurrencies, only 6% understand them relatively well. The findings come from a survey conducted by hardware his wallet developer Tangem among his 2,100 residents in a Russian city with a population of over 100,000.

About 45% of respondents have a positive attitude towards digital coins, with a nearly equal number (46%) neutral and 9% viewing digital coins negatively, the company said. increase. The ability to obtain capital gains is the main motivation for buying, and the lack of asset backing is the main reason for refusal.

Nearly a third (31%) of those surveyed said they were ready to buy a cryptocurrency within the next six months, and a nearly equal number (30%) had no plans to do so at all. 40% are undecided, says the Russian daily Kommersant. noted in the article citing the study. 72% of participants have never purchased cryptocurrency.

More than two-thirds (68%) of investors decided to buy cryptocurrencies out of a desire to understand how they are. Another 22% wanted to save and 19% wanted to diversify their investments. Around 18% acquired decentralized digital money to pay for goods and services, and 16% hedged against inflation and foreign exchange rate fluctuations.

Foreign Currency Restrictions Boost Crypto Popularity

Of those currently holding cryptocurrencies (24%), 7% own digital assets worth up to $100 in fiat currency, 9% have between $100 and $1,000, and 8% have $1,000. over the dollar. According to Vladislav Utushkin, founder of the To The Moon group of companies, the involvement of ordinary Russian investors and investment funds in cryptocurrencies remains low.

Indefi Smart Bank Executive Director Sergey Mendeleev points out that there is currently no legal and justifiable way to buy or sell cryptocurrencies in Russia. In addition to the potential loss of money, there is also the risk of bank closures, he added.

At the same time, currency restrictions imposed by authorities in Moscow this spring, amid mounting Western sanctions over the war in Ukraine that hurt the Russian ruble, have significantly accelerated the adoption of cryptocurrencies, hosting debate. Nikita Vasev, founder of the Teracrypt Forum, said. About mining, decentralized finance and the legalization of cryptocurrencies.

Vasef explained that many people continue to use stablecoins and bitcoins to send money out of Russia and exchange them for fiat currency in countries such as Georgia and the United Arab Emirates. Even before the trend began, Russians owned an estimated 5 trillion rubles ($67 billion at the time) in cryptocurrencies, according to ICB Fund chief financial officer Chen Limin, a parliamentary financial market commissioner. He pointed out that according to the estimates announced by the Chairman of the Society Anatoly. Aksakov.

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Do you think cryptocurrency understanding among Russians will increase with wider adoption? Share your thoughts on the subject in the comments section below.

Lubomir Tasev

Lubomir Tasev, a tech-savvy journalist from Eastern Europe, loves what Hitchens says. In addition to cryptocurrencies, blockchain, and fintech, international politics and economics are sources of inspiration.

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Nearly 80% of Russians know about cryptocurrencies, but only 6% understand them well – Bitcoin News

Source link Nearly 80% of Russians know about cryptocurrencies, but only 6% understand them well – Bitcoin News

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