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Cryptocurrencies

1 percent of Russians actively use cryptocurrencies

Monday 31 December 2018 | 08:41 AM CET

A poll conducted by Yandex Money and ITD in Russia has shown that 1 percent of Russians actively use cryptocurrencies.

The study was done on a sample of 1,000 residents of Moscow, which has a population of about 12 million. Around 96% of respondents use a bank card for cashless payment of services. Then, in descending order, respondents named mobile (40%) and internet banking (32%), as well as electronic money (16%). The respondents have also shown confidence in the increase of non-cash payment services like Apple Pay and Google Pay.

When the respondents were asked why they refrain from using cashless payment systems, 40% of them citing security concerns, 22% do not want to pay additional service fees, 11% believe technology is too complex for them and 9% still do not know what digital payments are. In addition, 5% of the respondents would like to try crypto as a payment system.

The poll was conducted by Yandex Money in association with Moscow Information Technology Department (ITD).

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