Cryptocurrency ownership is becoming increasingly popular in Russia, judging by the figures of the CBR’s survey. The Central Bank of the Russian Federation has revealed that 0.4% of the surveyed households own crypto assets, a figure which is larger than those owning mutual funds or investment accounts for gold. Furthermore, the median average of the fiat value of these crypto holdings is 17,500 rubles - indicating that more than half of the families with crypto funds possess more than this amount.

The CBR also found that 1.2% of the surveyed households reported having electronic wallets, with a median average of 1,000 rubles. This shows that even people with a small amount of cryptocurrency can conduct transactions with such wallets. Banks accounts remain the most popular way of storing value, with 64.5% of respondents saying they have money in one, with a median average of 15,000 rubles.

The bi-annual survey was conducted among over 12,000 individuals in 32 Russian regions. 6,000 households were asked about their financial assets and it was found that 65% of them had money stored in some form. The survey period was from May to June 2022 and the CBR revealed that the annual volume of crypto transactions made by Russians amounts to around $5 billion.

These statistics indicate that cryptocurrency is becoming an attractive method of storing value to a larger share of the Russian population. People with small amounts of cryptocurrency can use electronic wallets to make transactions, and those who wish to significantly increase their financial stability can choose to make transactions with higher amounts of crypto assets.



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