The emergence of bitcoin and other cryptocurrency market news received a relatively large echo in Russia over the past year or two even beyond the narrow circles of blockchain engineers or professional investors.
ROMIR, a major Russian marketing and media research company, has studied the level of knowledge and the attitudes towards cryptocurrencies among the general population. No less than 1,500 Russian citizens, coming from all the country’s region and various social groups above 18 years of age, were involved in the survey.
Here are the key findings of this survey as published earlier this month:
- The majority of the respondents (56%) said they had no idea of what cryptocurrencies are. Less than one third (31%) said they had a vague understanding of the notion, while as little as 13% claimed to have a good knowledge of cryptocurrencies and understanding of how they work. Males under 32 are predominant in the latter group.
- 87% of those with vague or good knowledge of cryptocurrencies had no intention to purchase them. Only 11% said they were ready to invest in these digital currencies while as little as 2% claimed to own cryptocurrencies.
- Despite the diversity of the cryptocurrencies, the respondents stated that they mostly invested in bitcoin and ethereum, with bitcoin mentioned by five times more.
- Three quarters (76%) of cryptocurrency owners confirmed that they bought it to earn money, and half of these claimed they reached their financial goals. Among the other drivers for buying crypto are following the trend (24%), paying for goods and services using cryptocurrency (16%), and influence from media and advertisement (15%).
“The survey shows that cryptocurrencies have not become a significant financial instrument yet. Skepticism is justified if taking into consideration that Russian society has been deceived repeatedly through a variety of Ponzi schemes and their likes in the past,” commented ROMIR President Andrey Milekhin.
Source: ROMIR
