Only 26% Russain are not really familiar with cryptocurrencies

Russian Public Opinion Research Center (VTsIOM) reported recently that fifty-six percent (56%) of Russians have basic awareness about Bitcoin.

It also said that 74 percent of Russians are generally familiarized with the term and only 9 percent are those who know Bitcoin thoroughly despite it being the biggest cryptocurrency by the virtue of market capitalization.

The report has also found that only 2 percent of Russians have invested in Bitcoin. The reason for this reluctance is that sixty-five percent (65) of people who took part in the survey are found to be skeptical about this investment method. Moreover, half of the population believe that real goods cannot be bought by this money.

Media reported, in spite of the general public not believing in the instrument, Russia is still the 5th biggest market in the world with a total transaction of eighteen billion dollars ($18b). It is also rank 2nd place in the number of transactions. However, the government has not legally pursued the regulation for the cryptocurrency.

Despite this skepticism among the general population, the youth, being the active users, and those residing in Moscow and Saint Petersburg are tilted towards Bitcoin

These people together make the seventy-five percent (75%) of the lot having awareness about Bitcoin.

This also resonates with the findings of the Clover Study which concluded that the US has the majority of millennials who own cryptocurrency earning seventy-five thousand dollars ($75000) per year.