Are Russians Bearish On Bitcoin

A Shocking Consumer Behavior

Many people who are currently employed in the cryptocurrency sector weren’t first persuaded to invest in Bitcoin and other digital assets. Many others were not even aware that crypto assets existed. During those times, there was still a huge knowledge gap about digital assets. In addition, the tokens are hardly ever used in transactions and activities in the real world.

However, the usage and acceptance of crypto assets have exploded during the last several years. Today, many businesses, organizations, sectors, and people accept crypto tokens as a form of payment and bill payment. Even now, several nations have made the usage of digital coins like Bitcoin (BTC) legal. It is shocking to see that the majority of the inhabitants in some nations have not jumped on the digital coins despite the widespread use of cryptocurrencies. For instance, a recent poll in Russia reveals that the majority of its residents have not yet bought any cryptocurrencies. This implies that the adoption of cryptocurrencies is behind in the nation.

The Thirst for Future Crypto Investments

Tangem, a Swiss-based manufacturer of cryptocurrency wallets, performed a poll on the attitude of the Russian populace toward cryptocurrencies. A total of 2,100 people took part in the survey, and 72% of them said they had never bought any crypto assets, including Bitcoin. This statistic shows that Russian cryptocurrency investors are a sizable minority.

According to the research, the general public still has a strong thirst for future cryptocurrency investments. In the next six months, almost 31% of the participants said they would be interested to buy cryptocurrency tokens. While 30% claimed they had no intentions to make any future cryptocurrency investments, over 40% said they are still unclear of their position. The study also showed that 46% of respondents have a positive outlook on cryptocurrencies. However, 46% of respondents have a neutral attitude toward virtual assets, and 9% of them have an unfavorable opinion of cryptocurrencies.

The poll also emphasized the main benefit of owning the assets as the capacity of cryptocurrency investments to generate income. According to the results, 44% of the participants backed this reason as the reason they were investing in cryptocurrencies. The main deterrent to investing in digital assets, nevertheless, was the absence of a physical foundation. This latter explanation was given by 68% of respondents as to why they did not use cryptocurrencies.