According to a new survey, cryptocurrencies are seen as more attractive investments than traditional fiat currencies and gold by a majority of Russian investors. Even those who have not traded digital assets before, many are already considering buying crypto in the near-term.
Russian investors have a great opportunity with crypto.
Russian investors are losing interest in national currencies due to their declining appeal. SurveyBy the Forex Brokers Association of the country (AFD) recently found. Only 14% of respondents said they would rather invest in fiat currency, while 76.9% preferred to buy cryptocurrencies like bitcoin. Fewer than 9% see no good prospects in any currency, and prefer gold.
Survey participants trade digital currencies more than 17% of the time. 24.7% of survey participants can skip a month, and less than one quarter, and 23.1% have never made any cryptocurrency transactions.
However, 77.1%, or a majority of these investors, have not traded digital coins and plan to do so in the near future. 15.3% of those polled said they hadn’t made a decision yet and 7.6% said they weren’t going to buy cryptocurrency at all.
The survey was conducted between August 4th-24th with 502 participants. More than 90% were men between the ages of 25 and 44. A staggering 76.5% believe that digital currencies will continue to grow in the next five years, and 8% expect them replace cash entirely. A survey conducted by the Russian Institute of Technology in April showed that 14% believe that cryptocurrency will replace fiat within a ten year.
Forklog cites another interesting finding from the AFD Survey: 51.5% of respondents decided to purchase digital currencies to increase their long-term savings. Those who are looking for quick profits are only 8. 22.2% of respondents indicated that they intended to use digital currency to pay for goods or services. They also admitted that they had been adversely affected by the “digital assets” law.
Survey respondents from Russia agreed that regulation was important in order to prevent unscrupulous investors. 40.4% agreed that government control should not be too extensive. Nearly 16% believe that cryptocurrency does not need regulation, and nearly 9% doubt that decentralized digital currencies can be subject to state control.
Are you in agreement with Russian investors that crypto assets represent the best investment opportunity? Please comment below.
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