An overwhelming majority of Russian investors view
cryptocurrencies as a more attractive investment proposition than
traditional fiat currencies or gold, a new survey has established. Even
among those who have never traded digital assets, most already think of
buying crypto in the near future.
Crypto Is the Promising Opportunity for Russian Investors
National currencies are losing attractiveness for investors in Russia, a poll by the country’ Association of Forex Dealers (AFD)
has recently found. Only a little over 14% of the respondents said they
would put money into fiat while a staggering majority of 76.9% would
rather buy cryptocurrencies such as bitcoin. Less than 9% don’t see good
perspectives in any currency and have chosen gold.
Over 17% of the participants in the survey transact with digital
currencies at least once a month and 35.1% trade crypto even more often
than that. Another 24.7% can skip a month and less than a quarter, or
23.1%, have never performed crypto transactions.
However, 77.1% of the latter group of investors, those who have never
traded digital coins, consider acquiring cryptocurrency in the near
future. Another 15.3% of the polled admitted they had not yet made a
final decision on the matter, and only 7.6% stated they were not going
to buy crypto at all.
The poll has been conducted between Aug. 4 and 24 among 502
respondents, more than 90% of whom were males in the age range of 25 to
44 years. An impressive 76.5% of them believe that the share of digital
currencies in circulation will continue to grow within the next five
years and 8% expect them to replace cash completely. A study in April showed that 14% of all Russians aged 18-65 think cryptocurrency will oust fiat in a decade.
Another interesting finding in the AFD survey, quoted by Forklog, is
that over half of the questioned investors, 51.5%, decided to buy
digital currencies in order to increase their long-term savings while
those who sought quick profits are only 8%. Respondents who intended to
use coins to pay for goods and services are 22.2%. They have also
admitted their plans were negatively affected by the law “On Digital
Financial Assets.”
Most Russian investors who took part in the poll share an opinion
that regulation is important, to weed out unscrupulous market players,
for example. But at the same time, 40.4% said government control should
be as limited as possible. Almost 16% believe cryptocurrencies do not
require any regulations and close to 9% doubt that decentralized digital
money can at all be subjected to state control in the first place.
source link: https://news.bitcoin.com/poll-3-out-of-4-russian-investors-would-rather-buy-cryptocurrency-than-gold-or-fiat/
