March 28, 2024

77% of Russian investors prefer bitcoin over gold

The Russian Association of Forex Dealers (AFD), specializing in the foreign exchange market, conducted a survey among Russianinvestors to find out how they relate to cryptocurrencies.

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In the survey, which was conducted from August 4 to 242021, 502 investors from Russia took part. In the survey, nearly 77% of respondents said that cryptocurrencies such as Bitcoin, Ethereum and Litecoin were the "most promising" investments. Only 8.8% of respondents indicated that they consider gold to be the best investment, and 14% preferred national currencies.

The poll showed that only 23% of candidates have neverdid not use digital currencies for investments. In the near future, more than 77% of respondents consider the possibility of investing in cryptocurrencies, and only 7.6% of the category against this type of investment. The remaining 15% said they had not yet made a final decision on whether to turn to digital assets.

The head of the AFD, Yevgeny Masharov, said that the Russianinvestors now view digital financial assets as investments rather than just a hyped product. Last year, a World Gold Council survey found that cryptocurrencies, particularly Bitcoin, are the fifth most popular investment vehicle in Russia, behind savings accounts, foreign exchange, real estate and life insurance.

In the rating for Russian investments forcryptocurrency is followed by gold. Most likely, such a low popularity of investments in the precious metal is due to the fact that the value added tax (VAT) on gold bars in Russia has the highest rate in the world - 20%.

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