Survey finds 20% of Russians engaged with crypto

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As a seasoned analyst with a decade of experience in the global financial markets, I find these trends intriguing and somewhat predictable. The fact that nearly 20% of Russians have dabbled in cryptocurrency is not surprising given the world’s growing fascination with digital assets. However, the staggering 65% of respondents who are aware but lack detailed knowledge is a stark reminder of the educational gap that exists in this space.

Approximately 20% of Russians have already dabbled with cryptocurrencies, whereas about 66% have heard about them but don’t possess comprehensive understanding, as indicated in recent findings from a survey.

Approximately 20% of Russians have already used cryptocurrencies, whereas over 65% are informed about them but lack comprehensive understanding – these findings were shared in a report published on Monday, September 30, based on a survey carried out by a domestic financial trading platform.

A survey conducted on 1,200 participants aged 18 and above throughout Russia indicates a growing trend of cryptocurrency use among Russian consumers, as more than one-fifth (20%) have some level of experience with cryptocurrencies. However, the majority (around 80%) of respondents have yet to use digital currency. Despite this, nearly one in six (15%) participants expressed a desire to incorporate crypto into their future financial activities. Among those who have experimented with cryptocurrency, approximately two-thirds (63%) did so out of curiosity, while around one-fifth (19%) used it for saving or investment purposes. Just 2% of respondents regularly use digital assets.

A majority (about 90%) of those surveyed do not possess any cryptocurrency at present. Among those who do own some, only around 6% have less than 10% of their savings invested in cryptos, and just 4% hold up to half of their wealth as digital assets.

Russia’s developing approach towards cryptocurrencies is taking shape as the administration investigates the possibility of employing digital currencies for international commerce, focusing particularly on sectors that might have military implications.

According to a report by crypto.news in mid-September, Russia established an advisory group to tackle issues experienced by importers handling goods that can be utilized for both civilian and military purposes, subject to stringent international payment limitations. This action followed China’s decision announced in early August to prohibit the export of all non-regulated civilian drones, which have been increasingly employed in military conflicts over the past few years, effective from September 1.

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2024-09-30 11:36