Nearly Half of All Russians Are Familiar with Cryptocurrency

A Recent poll was taken in Russia to determine the popularity of cryptocurrency in the country. Results showed that roughly 44% of all Russians have heard of cryptocurrency, 13% understand them altogether – and the rest are unfamiliar with it. The poll was completed by Romir, a subsidiary of Gallup International Association. The survey conducted, was given many as 1,500 Russian citizerns on August 7th 18.

The survey proved that nearly half of all the country has heard of cryptocurrency, an astounding number by any means. While what half may have heard of cryptocurrency, the percentage doesn't necessarily mean that they know what it is just that they've heard the term at some point.

Further analysis of the country's understanding of cryptocurrency, showed that roughly a third of the country is somewhat familiar with what it is, but still, it's slightly unsure exactly. Russia is still in the midst of integrating cryptocurrency for mainstream use through regulations but hasn't been able to do it yet thoroughly.

Country officials are still trying to figure out the best way to tax cryptocurrency, as well as how to handle exchanges and mining operations. Virtual currencies are still a new phenomenon, so most of the world's governments are still trying to figure out how to handle them. The survey proves that the country it's still somewhat unprepared cryptocurrency for everyday use. Russians are skeptical by nature, any platform that seems too reasonable to be true – in this case, is the problem of fast money by way of cryptocurrency.

Another result determined by the survey was that the people most familiar with cryptocurrency tended to be those in poverty – looking for a way out. The study also showed the most familiar cryptocurrency in the country was none other than Bitcoin. Moreover, the city most familiar with Bitcoin, is Moscow, the capital of Russia.

Major metropolitan areas seem to contain the most significant amount of people who are familiar with cryptocurrency. It would appear that Russia is still far off from the mainstream adoption of cryptocurrency.

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