July 25, 2024
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Are Crypto Assets gaining ground in Russia as an investment?

Are Crypto Assets gaining ground in Russia as an investment

According to a recent survey, there are different stances of Russians towards cryptocurrencies. Overall, the survey goes in line with the recent ones published by the World Gold Council (WGC). According to the news reported by bitcoin.com, cryptocurrency got listed in Russia as the fifth most popular investment vehicle with a rating percentage of around 17%.

According to the WGC authors, Crypto investments taking place in Russia have grey regulations in the regions. Hence, we can see that these Crypto Assets are gaining ground in Russia despite the gloomy regulatory environment.

Moscow Residents

Most of the residents in Moscow believe that Cryptos will replace Fiat, though others are skeptical about it. Specifically, some respondents believe that digital assets will replace Fiat in 10 years. Otkritie Bank is a Moscow-based Financial institute, and it is also one of the top 10 banks in the country.

Nord News on Survey

Nord news stated that Otkritie Bank conducted research. The bank found out that 14% of the thousand people surveyed have an optimistic belief regarding digital currencies and the future years ahead.

The bank also collected several responses from people of age between 18 and 65 across the largest cities of Russia. Although 8% of this respondent who belongs to the North West region think Crypto Assets will Oust Fiat currency in 10 years, 25% of the residents in Moscow believe otherwise.

Traditional thinking on FIAT

Though traditional thinking on Fiat still lies among the respondents of Northwestern Federal district, 34% of them believe otherwise.

Furthermore, there is a neutral stance from the whole Moscow region where 46% of the surveyed residents think they should always have a chance to pick on using Cryptos or traditional money. However, 39% of the respondents believe that giving up cash would be impossible as the world will not be able to do without it.