New Survey Shows Only 2% Of Russians Invested In Bitcoin

According to the Russian Public Opinion Research Center (VTsIOM), a conducted survey shows that only 2 percent of the Russian population invested in Bitcoin. Let’s find out more about the report in the latest cryptocurrency news below.

The VTsIOM is the oldest institute for polls conducting in post-Soviet Russia and the results show that the popularity of Bitcoin in the country is at a very low level. About two-thirds of the Russian population believes that investing in cryptocurrency is a really bad investment.

The research center didn’t provide a time or date for the poll or how many respondents actually took part in the survey. With this data, it turns out that 56 percent of Russians are aware of Bitcoin while 18 percent have stated that they only heard about the term. However, the institute claims that the factual knowledge for the cryptocurrency is extremely low since many of those who have heard of it; believe that the asset is banned in the country.

The government still hasn’t created a federal crypto regulation despite the passed crypto draft bill in the Russian parliament in 2018. The draft was sent back to the first reading since many of the concepts were lacking. In February, the Russian President Vladimir Putin gave another deadline for the country to adopt a regulation which is by the end of June.

The poll results show that only 9 percent of the Russian citizens have a great deal of knowledge for the cryptocurrency. The awareness rate is higher in the male population rather than the females. The age limit for people who know about Bitcoin is about 25-year-olds and most of them have a higher degree of education. Most of the people who know about Bitcoin come from Moscow and Saint Petersburg.

Back in 2018, Russian Forbes reported that only 5 percent of the residents in Moscow use non-cash methods of payments and less than 5 are ready to start using cryptocurrencies instead.