Tuesday, June 25, 2019

Survey: 2% Of Russians Have Invested In Bitcoin

A recent survey by the Russian Public Opinion Research Center (VTsIOM) reveals that onl 2 percent of Russians have invested in Bitcoin thus far. The survey was published on the 9th of March.

56 Percent Of Russians Are Aware Of Bitcoin

A survey by VTsIOM which is the oldest polling institutions in the post-soviet Russia reveals the level of popularity of cryptocurrency in the country. Per the survey, two percent of Russians have invested in Bitcoin thus far, and also, two thirds of Russians consider the purchase of cryptocurrency as a bad investment.

Further, the survey also noted that about 56 percent of Russians are aware of Bitcoin, while 18 percent claimed to have only heard of it. Though a decent number of the populace are aware, in-depth knowledge of Bitcoin is considered to be very low. The survey noted that only 12 percent of those that claimed to be aware said Bitcoin is banned in Russia, while 9 percent of the citizens have detailed knowledge of Bitcoin.

Meanwhile, the awareness rate is significantly higher among Russia’s male population, people under the age of 25 years, people with higher education, and the residents of the two largest cities in the country – Moscow and Saint Petersburg.

The research center did not provide the time frame the survey was conducted or the number of total respondents that were involved in the poll.

Also, Forbes Russia reported in November 2018 that 5 percent of Moscow residents who use non-cash methods of payment were ready to start using Cryptocurrencies to pay for their purchases.

Cryptocurrency Adoption In Russia

Thus far, Russia is still not explicit on cryptocurrency. The federal government is yet to enforce cryptocurrency regulations to date officially. Last year, the Russian parliament passed a crypto bill in the first reading in May 2018. But the draft bill was sent back to the first reading stage in late 2018, following reports on the lack of a number of key concepts, which include crypto mining. Meanwhile, in February, the President of Russia gave an order for cryptocurrency regulations to be adopted by July 1, 2019.

Also, a former energy minister of Russia, Igor Yusufov, noted in February that the country is on the verge of adopting a national cryptocurrency. Igor stated that Russia is in the final stages of issuing a cryptocurrency-version of the Petro-Dollar.

Igor informed Rambler that they were looking to bypass the trade and other financial restrictions. He also claimed that other oil-producing countries were also aiming to increase their oil and gas exports without relying on a U.S. Dollar-pegged Petro-Dollar.

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