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Survey Discloses Interesting Figures on Russians and Cryptocurrency

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A recent survey has revealed that cryptocurrency is the main source of income for 12% of Russian speaking crypto users.

Over 90% of the respondents claim that they want to use digital coins as a means of payment, and a quarter of those respondents are already doing that. 40% of the participants consider cryptos such as bitcoin as a good long-term investment. They have no intentions to sell their crypto holdings in the near future.

The survey that was done among Russian cryptocurrency owners found that most of them have began dealing with cryptos in the last few years. Nevertheless, 28% of the respondents think of themselves active users, and 12% say cryptocurrency is their main source of income.

The crypto shopping platform Fatcats.market conducted interviews with 382 Russian speaking crypto users, whose median age is 27 years. Most of them are men – 93%. Women are only 7%, while those under 18 years of age are 10%. The survey has been conducted on Telegram channels from March 22 to April 2, 2018.

A substantial majority of the respondents claim they want to keep cryptocurrencies like bitcoin and use them for payments. 40% confess they are investing in various cryptos. Mining is not that popular anymore, with only 14% being involved and 11% saying they are cloud mining.

Another 40% of the crypto users consider cryptocurrency as a good long-term investment. They don’t have any plans to sell their coins for fiat money in the near future. According to the authors of the study, the main conclusion is that Russians are set to use cryptocurrency both as an investment tool and as a means of payment.

The ongoing survey also uncovered that only 8% of the participants are not ready to buy goods using cryptocurrency, while 20% still have concerns over paying for services with the use of crypto. That means merchants selling goods for bitcoin are trusted more than service providers. 26% claim they have already made purchases with cryptocurrency.

When it comes to purchasing goods, computers, smartphones, and other gadgets are the most favored items at 77%. 65% want to purchase audio and video equipment, and 66% would be happy to spend their cryptos on airline tickets and traveling. Around 60% are ready to purchase real estate or a new car and 45% would buy food, furniture, or a fridge with bitcoin. Paying for freelance work is the most likely crypto spending for services (68%).

The organizers of the study have tried to find out the significance of cryptocurrencies for Russian users. 28% of them think that digital coins are an exciting part of the information technology field. 26% consider them a supplemental source of income. 17% if the respondents say cryptos form up to 30% of their investment portfolio. For another 16%, virtual money is an important income, and 12% say it forms a significant share of both their income and their investments (70% or more).

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