Survey Offers Insight Into Russian Crypto Community

russian flag and crypto



A survey of Russian digital currency enthusiasts found that 12% of respondents said that cryptocurrency provides their primary source of income. The survey of 382 cryptocurrency users was compiled earlier this month and is expected to be updated with new findings as additional data is obtained.

The survey also gathered data about Russian attitudes about using cryptocurrencies, as well as information about investments, mining, and risks. According to the published survey results, 90% of respondents were men, which tracks with the research’s finding that women make up only 7% of the Russian cryptocurrency community. The average age of those responding to the survey was 27.

Respondents revealed that most of them own Bitcoin (55%), Ethereum (45%), or both. 40% of them said that they are active investors, with the same percentage asserting that they had no current plans to sell their holdings. That 40% consider themselves long-term investors. Meanwhile, 14% of respondents said that they mine digital currency.

The survey also reveals that a majority of those respondents became interested in digital currency after 2016. Only about 20% of those crypto holders were involved with digital currency prior to that date. Also noteworthy is that 40% of those surveyed said that they have obtained coins through initial coin offerings (ICOs).

Respondent outlook on digital currency was generally optimistic, though many seemed to understand the risks. Only 1% of respondents said that digital currency is a “bubble” that will eventually collapse. At the same time, however, 15% are leery of scams involving cryptocurrency, and 17% said that they are not sure how digital currency can ever be used as a regular form of payment.

Author: Ken Chase

Freelance writer whose interests include topics ranging from technology and finance to politics, fitness, and all things canine. Aspiring polymath, semi-professional skeptic, and passionate advocate for the judicious use of the Oxford comma.

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