Cryptocurrency is the main source of income for 12% of Russian speaking crypto users, according to a new survey. More than 90% of the respondents say they want to use digital coins as a means of payment, and a quarter of those interviewed are already doing that. 40% of the participants view cryptos like bitcoin as a good long-term investment. They have no intentions to sell their crypto holdings in the near future.
Also read: Russians Owe 13% Tax on Their Crypto Incomes
40% of Russian Crypto Owners Are Hodling
The survey conducted among Russian cryptocurrency owners found that most of them have started dealing with cryptos in the last couple of years. Nevertheless, 28% of the respondents consider themselves active users, and 12% say cryptocurrency is their main source of income.
The crypto shopping platform Fatcats.market has interviewed 382 Russian speaking crypto users, whose median age is 27 years. Most of them are men – 93%. Women are only 7%, while those under 18 years of age are 10%. The survey has been conducted on Telegram channels from March 22 to April 2, 2018.
A sizable majority of the respondents say they want to keep cryptocurrencies like bitcoin and use them for payments. 40% admit they are investing in different cryptos. Mining is not that popular anymore, with only 14% being actively involved and 11% saying they are cloud mining.
Another 40% of the crypto users think cryptocurrency is as good long-term investment. They are not planning to sell their coins for fiat money in the near future. According to the authors of the study, the main conclusion is that Russians are ready to use cryptocurrency both as an investment instrument and as a means of payment.
