31% of Russians are expected to make cryptocurrency purchase

According to Cointelegraph, 72% of 2,100 respondents to the Tangem survey said they had never purchased cryptocurrencies like Bitcoin. According to a survey, the majority of Russians have never purchased cryptocurrency, which has slowed down the adoption of cryptocurrencies in that country, according to Cointelegraph. Russian cryptocurrency investors were the subject of a survey by Swiss-based cryptocurrency wallet provider Tangem, according to local news outlet Kommersant. According to Cointelegraph, 72% of 2,100 respondents claimed they had never purchased cryptocurrencies like Bitcoin (BTC), leaving Russian cryptocurrency miners in the minority.Nine percent of respondents to the survey indicated that they had a negative opinion of cryptocurrencies, 45% indicated that they had a positive opinion, and 46% indicated that they were neutral. According to the survey, the ability of cryptocurrencies to generate income led to 44% of respondents choosing to invest in them. On the other hand, 68% of respondents cited the lack of physical backing for cryptocurrencies as the reason they did not invest in them.According to data from Cointelegraph, many Russians are considering cryptocurrency as a potential investment even though the majority of them have only recently learned about it. While 31% of respondents said they planned to purchase cryptocurrencies in the next six months, 40% said they were still unsure about the investment environment. About 30% of those surveyed made no mention of purchasing cryptocurrencies. According to Tangem’s data, only about 6% of respondents had a strong understanding of cryptocurrencies, and 80% had only heard of them.Additionally, according to estimates by Sergey Mendeleev, CEO of InDeFi, the number of active and passive cryptocurrency users in Russia currently amounts to less than 1% of the country’s 144.4 million people. According to some experts, the Bank of Russia’s restrictions on foreign currency are the reason why more and more Russians are converting to cryptocurrencies. By the end of 2021, the Kremlin estimated that Russians would own cryptocurrencies worth close to $200 billion.

By Subhechcha Ganguly