The Russian Association of Forex Dealers (AFD), which specializes in the foreign exchange market, surveyed 502 Russian investors to find out how they feel about cryptocurrencies. The survey , published on August 31, was conducted from August 4 to 24, 2021.
According to a new study, cryptocurrencies are becoming more and more popular among Russian investors, clearly displacing traditional investment products.
In the survey, almost 77% of respondents said that cryptocurrencies – Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC) – are the most promising investments. Only 8.8% of respondents indicated that they see gold as the best investment, while 14% prefer familiar national currencies.
The survey also showed that only 23% of respondents have never used digital currencies. In addition, in the near future, more than 77% are considering investing in cryptocurrency, and only 7.6% are strongly against this type of investment. The remaining 15% said they had not yet made a final decision on whether or not to turn to digital assets.
The head of the AFD, Evgeny Masharov, said that the study clearly demonstrated that Russian investors view digital financial assets precisely as investments, and not just as an advertised product.
Last year, a survey by the World Gold Council showed that cryptocurrencies, including bitcoin, are the fifth most popular investment vehicle in Russia after savings accounts, foreign exchange, real estate and life insurance.
Despite the fact that Russian investors are increasingly betting on cryptocurrencies, the country’s central bank continues to maintain a tough stance on them. In June, the Chairman of the Bank of Russia Elvira Nabiullina called cryptocurrency one of the most dangerous investment instruments that exist at the moment.
Skeptical about private cryptocurrency, the central bank has focused on developing the digital ruble, which will begin testing in 2022.