There are still a huge number of people in Russia who are not yet ready to dive into the digital asset space. Many among them were unaware of the presence of crypto or digital assets, which is quite surprising. The knowledge gap is quite considerable because these currencies have use cases in worldwide transactions and other operations. So, the shocking fact is that around 72% of Russians still do not own a bitcoin. It also shows that despite the sanctions posed by the US, Russia still has low crypto adoption. The fears that crypto will be used by them to bypass sanctions turned out differently.
Lack of crypto adoption in Russia
A survey was recently accomplished by Tangem, which had around 2100 respondents in a poll. It disclosed that around 72% of them have never bought any digital assets, including the most famous one, Bitcoin. These numbers indicate that there is very less desire for investment in Russia.
The poll showed that about 31% of them were willing to buy crypto tokens over the next few months. And the other 30% indicated that they have no plans to invest in any crypto tokens. At the same time, the remaining ones said that they were still not sure about it.
Also, this recent survey revealed that 46% of the respondents had neutral thinking toward crypto assets, while another 46% appreciated crypto assets. However, 9% of them were opposed to it.
Low awareness of crypto assets in Russia
The primary reason behind the low rate of digital asset adoption in Russia is their shared understanding of it. The survey identified that only 6% had a good amount of knowledge of cryptocurrencies, with over 80% only being familiar with this term. It is a very bad number for the country.
Most experts consider that the restrictions being put by the Banks of Russia on foreign currencies are mainly creating an issue for the citizens to learn about. Some people even believe these coins or assets are used to move cash out of their country and put it elsewhere worldwide, which is extremely bizarre.
What are your thoughts as a study shows that 72% of Russians still do not own a bitcoin? What can be done to increase the adoption rates in Russia? Let us know in the comments below. And, if you found our content informative, share it with your friends.
Also Read: Central Bank of Singapore will bring new crypto rules.
