According to a survey by the Russian Public Opinion Research Center, the term ‘Bitcoin’ is known to around 74% people in Russia out of which 56% are aware of BTC. However, the proper knowledge of Bitcoin is known by only around 9% of people.
Bitcoin in Russia:
The survey also shows that only around 2% of the people in Russia have made their investments into Bitcoin. The reason behind such a small percentage of people investing in bitcoin is the bad image that is portrayed in the minds of the people. Also, more than 43% of people believe that bitcoin is still not mainstream and they are not able to buy daily-use goods and services using bitcoin.
Russia has more than $18 billion transactions in cryptocurrency which makes it the 5th largest market for cryptocurrencies. The cryptocurrency regulation is still not clear in the country as an official framework is still not developed by the Russian authorities.