Russians prefer buying cryptos than buying new iPhone

Russians prefer buying cryptos than buying new iPhone

According to the State of Cryptocurrency report 18% of Russians prefer buying cryptocurrency then a new iPhone.

Pundi X, a cryptocurrency point-of-sale solution provider, together with Foundation and, published the State of Cryptocurrency report on survey conducted in India, Indonesia, Japan, Russia, UK, and the USA. The survey concerns cryptocurrency adoption among ordinary consumers from different countries. 3000 people aged from 18 to 59 years were questioned (500 people in each country) for the period from December 21, 2017 to January 2, 2018.

About 70% of respondents believe that most people will be using bitcoin or other cryptocurrencies in the next 10 years.

In Russia the number of cryptocurrency owners was higher than in other countries  — 12% of respondents. And in the United States only 7% people own bitcoin or other cryptocurrency, and 10% and 5% in Japan and the UK, respectively. At the same time, more than half (52%) of the Russians consider buying cryptocurrencies in the next six months, compared to such values for the US — 33%, Japan — 20%, India — 46%.

Russians also have the highest level of awareness about cryptocurrency among other countries: 74% of respondents think bitcoin or cryptocurrency is digital money(52% of Americans, 55% of Japaneses); 10% believe it is coin or bank note; 9% don't know what cryptocurrency is (while in the US — 30%, in India — 27%, in Japan — 23%).

When Russians were asked about what they want to use cryptocurrency for, 38% said they use cryptocurrency for trading or investment, 37% said they want to spend cryptocurrency and make purchases, 27% of them use it as a store of value.

When asking about what the respondents will do with USD 1,000, 29% of Russians chose to save the money, 18% — will spend it on cryptocurrency purchasing, and only 7% would buy a new iPhone X.

For all respondents security, privacy, and zero transaction cost were top three most important factors when transacting cryptocurrency.

15% of Russians who going to purchase cryptocurrency prefer to buy it on the Russian online platform, but 20% of respondents prefer a foreign exchange platforms.

Among Russian cryptocurrency owners, Bitcoin (86% of respondents) is most famous, 39% of respondents know about Litecoin, 36% of Ethereum, 27% and 24% of Dogecoin and Dash respectively.

21% of polled Russians said the price of cryptocurrency is unstable, 19% said they do not perceive the cryptocurrency as real money, and for 15% of the respondents the cryptocurrency have less value than cash.


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