Cryptocurrencies have become a preferred form of investment for many people around the world. Now, a survey conducted by the” Association of Forex Dealers ” (AFD) has revealed that the majority of Russians currently prefer digital assets to traditional ones. According to the survey, options such as fiat currencies or gold have fallen out of favor with the broad investor base. Even potential investors (people who have never traded cryptocurrencies) said that they are already thinking about investing in cryptocurrencies.

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The survey was conducted between 4 and 24 August with a total of 502 respondents. Of this group, over 90% of respondents were male and between 25 and 44 years old. Respondents ‘ sentiment towards cryptocurrencies was highly positive. Most of the respondents stated: they believe that cryptocurrencies will continue to grow. And at some point, according to 8% of respondents, they will completely replace cash.

Breakdown of figures

Russia has a population of 144.4 million people, with oil being the country’s main export commodity. The country’s citizens are opting for crypto investments instead of their country’s traditional assets. The number of investors who want to invest in fiat currencies instead of digital assets is only about 14%. 9% say that they do not see prospects in fiat currencies and would therefore choose gold as an investment form.

Of the respondents, 76,9% say that they would rather buy cryptocurrencies than traditional assets such as fiat currencies and gold. Of that number, 24.7% said they don’t trade cryptocurrencies every month, but never go without a trade for more than three months. Over 17% of respondents said they trade digital currencies like Bitcoin once a month. 35.1% said they trade cryptocurrencies more than once a month. Finally, 23.1% of respondents said they had never made a crypto transaction before.

Long-term crypto investment

An interesting result of the survey: investors do not invest only to get quick profits. More than half (51%) of investors surveyed say they invest in cryptocurrencies such as Ethereum for the long term. They expressed that they are investing in digital currencies to increase their long-term savings. In contrast, only 8% of investors said they invest to make quick profits.

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In addition, 22.2% of investors surveyed said they purchased their coins to pay for goods and services using digital currencies. But these plans were made impossible by the law” On Digital Financial Investments”.

The majority of Russian investors believe that the space must be made safer by regulations. Others (40.4%) believe that government intervention in this area should be very limited. A small percentage (16%) believe that cryptocurrencies do not require any regulation. 9% do not even believe that it is possible for the government to control digital assets in any way.

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Text credit: Bitcoinist

Last updated on September 6, 2021

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