5% Of Moscow Residents Who Use Non-Cash Methods Are Open To Using Cryptocurrencies

A new poll went viral in the latest cryptocurrency news, this time carried out in Moscow, the capital of Russia. As Forbes Russia first reported on November 13th, more than five percent of all residents of Moscow that use non-cash payment methods are open to exploring the use of cryptocurrencies such as Bitcoin.

Carried out by the Russian payment service Yandex.Money as well as the Moscow Information Technology Department (ITD), the poll surveyed more than 1,000 Moscow residents of various age categories over the phone.

The researchers found that among the residents who use non-cash methods, 5% are willing to start using cryptocurrency to pay for their purchases – while 1% already use digital currencies.

Among the most common forms of non-cash payments in Russia are bank cards (96%) followed by mobile bank apps (40%), Internet banking (32%) and e-money (16%).

The head of the analytics department at ITD, Ivan Buturlin, recently stated that “34 percent of Moscow residents use primarily non-cash methods of payment, wherein 63 percent conduct electronic transactions at least once a day.”

When asked why they refrain from using cashless payment systems, about 40% of the respondents pointed to security concerns, 22% of them said they don’t want to pay extra fees and 11% said they did not understand how to use the non-cash payment services, while 9% said that they don’t know what cashless payment methods are.

As the CEO of Yandex.Money summed up following the publish of the results of this survey:

“In order for non-cash payments to penetrate into the lives of a larger number of citizens, people should also change their perception to understand that this is a safe method of payment.”