Survey finds 77% of Russian investors prefer Bitcoin to gold and forex


Cryptocurrencies like Bitcoin (BTC) are getting increasingly popular with Russian investors, apparently displacing traditional investment products, according to a new survey.

Russia’s Association of Forex Dealers (AFD), a local self-regulatory organization focused on the foreign exchange market, polled 502 Russian investors to find out the local investor sentiment regarding cryptocurrencies. Released on Aug. 31, the survey was conducted from Aug. 4 to Aug. 24, 2021.

How To Get Free Crypto  

In the survey, nearly 77% of respondents said that cryptocurrencies like Bitcoin, Ether (ETH), and Litecoin (LTC) are the “most forward-looking” investment. Only 8.8% of respondents indicated that they view gold as the best investment, while 14% preferred “familiar national currencies.”

The survey also found that just 23% of respondents have never used digital currencies. Out of those, more than 77% were considering investing in crypto in the near future, while only 7.6% were strongly opposed to getting involved in this type of investment. The remaining 15% said that they have not yet made a final decision about whether to invest in crypto.

AFD head Evgeny Masharov said that the survey has clearly demonstrated that Russian investors now consider digital financial assets as an investment rather than just a “hype product.” Last year, a survey by the World Gold Council suggested that cryptocurrencies like Bitcoin were the fifth-most popular investment tool in Russia after savings accounts, foreign currencies, real estate and life insurance.

The organization will send the survey results to the Bank of Russia and the State Duma Committee on Financial Markets, the AFD said.

Coinbase Banner  

Related: Buying Bitcoin is like entering a minefield, Bank of Russia exec says

Despite Russian investors increasingly betting on cryptocurrencies, the country’s central bank continues to maintain a tough stance on crypto. In June, the Bank of Russia’s governor Elvira Nabiullina called crypto one of the most dangerous investment tools that currently exist.

While skeptical about private cryptocurrencies, the Russian central bank is currently focused on developing the digital ruble, the Bank of Russia’s central bank digital currency project that is expected to enter trials in 2022.

Go to Source
Author: Helen Partz

Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.