Survey Shows 20% of Russians Use Crypto

According to a recent survey, approximately 20% of Russians have utilized cryptocurrency, while 66% know its existence but lack comprehensive knowledge

According to a survey conducted by a local financial marketplace, nearly one-fifth of Russians have used cryptocurrency, and over 65% are aware of them but lack comprehensive knowledge, according to a report by Russia’s state-run TASS news agency on Monday, Sept. 30.

The survey of 1,200 respondents aged 18 and older in Russia underscores the incremental crypto adoption by Russian consumers, with more than 20% reporting some experience with the technology.

The survey revealed that nearly 80% of respondents have never used cryptocurrency, although 15% expressed interest in incorporating digital assets into their future investments.

Of those who have experimented with cryptocurrency, 63% stated that they did so out of fascination, while 19% employed it for savings or investment purposes. Regular crypto usage was reported by only 2% of respondents.

Most respondents, nearly 90%, do not possess any cryptocurrency despite the increasing awareness. Only 4% of the minority reported holding up to half of their assets in digital form, while 6% reported holding less than 10% of their savings in crypto.

Currently, the Russian government is investigating the potential military applications of digital assets in industries with foreign trade, which has resulted in an evolving relationship with crypto.

As reported by crypto.news in mid-September, Russia established a focus group to address the challenges encountered by importers when dealing with dual-use goods, which are subject to stringent international payment restrictions and have civilian and military applications.

The action was taken shortly after China announced in early August that it would prohibit the export of all unregulated civilian drones, which have been increasingly employed in military warfare in recent years, effective September 1.