Many Russian Investors Believe Cryptocurrency Could Replace Fiat Investments: AFD Poll
Login

Many Russian Investors Believe Cryptocurrency Could Replace Fiat Investments: AFD Poll

Estimated Reading Time: 3 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:


According to a recent poll by the Association of Forex Dealers (AFD), a significant percentage of Russian investors have lost interest in national currencies as interest in digital assets surge.

The AFD reported that only about 14% of participants in the survey opted for fiat Investment, while a whopping 76.9% of investors opted for cryptocurrencies like Bitcoin. The remaining 9% opted for Investment in gold.

The poll also revealed that 17% of the subjects transacted with digital currencies at least once a month, and 35.1% traded crypto regularly. 24.7% noted that they could go between a month and less than a quarter without using crypto, while 23.1% have never facilitated crypto transactions.

However, 77.1% of investors who have never traded crypto noted that they were open to the idea of it. Another 15.3% indicated that they had not concluded the matter yet, while 7.6% voted categorically against purchasing crypto.

The study occurred between August 4 and 24 among 502 participants, with more than 90% of the subjects being males within the age bracket of 25 to 44. That said, 76.5% of all participants believe that the number of crypto-assets in circulation will continue to rise over the next five years, while 8% of the group expect digital currencies to replace fiat completely. Another study in April revealed that 14% of all Russian adults between the ages of 18 and 65 believe cryptocurrency will replace fiat currency in a decade.

Some Russian Investors Do Not Believe in Cryptocurrency Regulation

The AFD poll also revealed a notable finding noting that 51.5% of all participating investors bought cryptocurrencies intending to boost their long-term savings, while only 8% have short-term profit-making intentions. Meanwhile, 22.2% of crypto investors in the survey intend to use the coins to pay for goods and services. However, they noted that this plan got negatively affected by the “On Digital Financial Assets.”

While most investors believe that regulation is critical in the sector to expel ill-intentioned players and institute other positive factors, 16% of surveyed investors believe that the industry does not require any regulatory framework whatsoever.

 

You can purchase crypto coins here: Buy Tokens

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News