Survey finds 20% of Russians engaged with crypto

Nearly 20% of Russians have used cryptocurrency, while 66% are aware of it but lack detailed knowledge, according to a new survey.

Nearly one-fifth of Russians have used cryptocurrency, while more than 65% are aware of them but lack detailed knowledge, Russia’s state-run TASS news agency reported on Monday, Sept. 30, citing data from a survey conducted by a local financial marketplace.

The survey of 1,200 respondents aged 18 and older across Russia highlights the gradual uptake of crypto among Russian consumers, with over 20% reporting some experience with crypto. The survey found that almost 80% of respondents have never used cryptocurrency, although 15% expressed interest in adopting digital assets in the future. Of those who have tried crypto, 63% indicated they did so out of curiosity, while 19% used it for savings or investment purposes. Only 2% reported regular crypto usage.

Despite growing awareness, most respondents — nearly 90% — do not currently hold any cryptocurrency. Of the minority who do, 6% reported holding less than 10% of their savings in crypto, with only 4% having up to half of their assets in digital form.

Russia’s evolving relationship with crypto comes as the government explores the use of digital assets for foreign trade, particularly in industries with potential military applications.

As crypto.news reported in mid-September, Russia formed a focus group to address challenges faced by importers dealing with dual-use goods, which have both civilian and military applications, and are subject to strict international payment restrictions. The move came shortly after China announced in early August that it would ban the export of all unregulated civilian drones, which have become increasingly used in military warfare in recent years, starting Sept. 1.