Blockzeit
  • News
    • Business
    • Politics
    • Metaverse
    • NFTs
    • Markets
    • Investing
    • Technology
    • Trends
  • Tools
    • Crypto Charts
    • Crypto Heatmap
  • Education
    • Reviews
    • Guides
    • Bitcoin Price Analysis
  • Crypto Exchanges
No Result
View All Result
  • EnglishEnglish
    • EnglishEnglish
    • DeutschDeutsch
    • PortuguêsPortuguês
Buy Crypto
  • News
    • Business
    • Politics
    • Metaverse
    • NFTs
    • Markets
    • Investing
    • Technology
    • Trends
  • Tools
    • Crypto Charts
    • Crypto Heatmap
  • Education
    • Reviews
    • Guides
    • Bitcoin Price Analysis
  • Crypto Exchanges
No Result
View All Result
Blockzeit
No Result
View All Result
Home Markets
Kreml Bitcoin 1

Kreml Bitcoin 1

Russian Investors Prefer Cryptocurrencies Over Gold And Fiat

Tom Nyarunda by Tom Nyarunda
September 6, 2021
in Markets
Reading Time: 2 mins read
0
Share on FacebookShare on TwitterShare on LinkedinShare via WhatsappShare via Email

Traditional currencies like gold and fiat currencies could be losing their appeal to cryptocurrencies among potential Russian investors. An overwhelming majority of young Russians, including crypto-skeptics, are considering buying into cryptocurrency.

A recent opinion poll by the Association of Forex Dealers (AFD) found that 14% of the respondents aged between 18 and 56 believed Bitcoin would displace fiat cash in the next ten years. The poll that was conducted between August 4 and 24 involved over 500 adults. At least 90% of those polled were males aged between 25 and 44 years.  

According to the poll results, an overwhelming 76.9% said they preferred cryptocurrencies over conventional assets like gold and fiat currency. Interestingly, some 24.7% of those crypto lovers said they were disappointed they wouldn’t trade in cryptocurrencies within a month. However, the group said they were keen to ensure they carried out at least a trade in the next three months. 

Disappointed by the law on digital financial assets

At least 17% of the respondents revealed they traded digital currencies at least once monthly, while 35.1% said they dealt with cryptocurrencies more than once every month. Only 23% of the survey participants admitted they had never had any interaction with cryptocurrencies. 

Over 51% of the participants said they were not into crypto for get-rich-quick plans but considered it a long-term investment. Only a paltry 8% of the investors said they were in it for quick gains. While 22.2% of the respondents got cryptocurrencies to pay for goods and services, the majority were disappointed by the law on digital financial assets that made their plans impossible to implement. 

Government doesn’t allow purchasing in Cryptocurrencies

Most of the polled investors wanted regulations to make the crypto sphere safer, but 40.4% think government intervention would choke crypto space. A paltry 16% of the respondents said they didn’t believe cryptocurrencies needed any form of regulation, but 9% of the participants couldn’t see how the government could rein on cryptocurrencies.  

Cryptocurrencies were illegal in Russia until the government gave them legal status in 2020. However, the government doesn’t allow people to use digital currencies to make purchases, mainly because some people use it for illegal activities. The government has plans to create a digital Ruble and plans to have a prototype ready by the end of the year. Russia’s central bank governor, Elvira Nabiullina, said:     

“We will go step by step because it’s [a] very difficult, technological, legal … project.” 

If you liked this article you might also enjoy: Most Europeans Don’t Want EU Involved In Crypto Regulations

1a49ddd7 d169 48a0 a252 3fc3a2ad01bb 1
Tom Nyarunda

Tom is a freelance writer with over 10-years’ experience in content creation, blog writing, and SEO specializing in the blockchain and cryptocurrency niche. As a philosophical figurehead, he believes that to make our world a better place, we must invest in incorruptible products and procedures, of which Bitcoin and other cryptocurrencies are leading examples.

Tags: CryptocurrencyRussia
Previous Post

Wake Me Up When September Ends: Crypto Zombie Sells For $3.9M

Next Post

What’s A Crypto Wallet – Why Should You Have One

Related Posts

The Swiss Crypto Valley in Zug. (Photo Source: Flickr)

Switzerland Remains As The Pivot Point Of Crypto Institutonalization

by Giancarlo Perlas
January 30, 2023
0

In this article, we shall explore what it means to have crypto institutionalization as well as the pivotal role of...

bitcoin bubble - Image source: Yale

Crypto Market Is Surging – Is It A Bubble Or A Breakthrough?

by Edmond Herrera
January 21, 2023
0

Explore whether the current crypto market boom is an echo bubble or a sign of sustainable growth in this in-depth...

bull x bear maket

Crypto Market Rises After Unexpected Drop in US Retail Sales

by Sammy Ugay
January 19, 2023
0

The cryptocurrency market is experiencing a surge in prices following the release of the latest economic data from the United...

Load More

Get updates to your inbox!

Subscribe to our mailing list to receive daily updates!

FOLLoW US:

Blockzeit Logo 10 1

Blockzeit was founded in 2021 in Switzerland with the mission of bridging the gap between the complex blockchain technology and the general public. Blockzeit is a news and education platform that aims to make blockchain more accessible and bring more transparency to the scene.

Popular Categories

Categories
  • Bitcoin News
  • Business
  • Education
  • Investing
  • Markets
  • Metaverse
  • NFTs
  • Politics
  • Press Release
  • Switzerland
  • Technology
  • Trends
  • Uncategorized

Important Links

  • Privacy Policy
  • Disclaimer
  • About us
  • Contact us
  • Blockchain Jobs
  • Events

Contact & Social

For guest posts, contact us via info@blockzeit.com

 

Contact: info@blockzeit.com
Press: press@blockzeit.com

Facebook Twitter Linkedin Instagram
  • Home
  • Markets
  • Investing
  • Technology
  • Trends
  • NFTs
  • Education
  • Events
© Copyright by Blockzeit.com. All rights reserved.

Disclaimer

Start making money with crypto.

Buy Here
No Result
View All Result
  • News
    • Business
    • Politics
    • Metaverse
    • NFTs
    • Markets
    • Investing
    • Technology
    • Trends
  • Tools
    • Crypto Charts
    • Crypto Heatmap
  • Education
    • Reviews
    • Guides
    • Bitcoin Price Analysis
  • Crypto Exchanges
  • DeutschDeutsch
  • PortuguêsPortuguês

© 2021 Blockzeit by Blockzeit.