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Cryptocurrency Constitutes ”Significant Share of Their Income” for 12% of Russian Crypto Users

Cryptocurrency Constitutes ”Significant Share of Their Income” for 12% of Russian Crypto Users

 A recent Russian survey, conducted by the Russian ”crypto-directory” Fatcats.Market, is shedding light on the Russian cryptocurrency community. Besides providing valuable insights on what demographic segment cryptocurrency aficionados mainly belong to, the survey also reveals more specific pieces of information – like the fact that 12% of Russian cryptocurrency users now have cryptocurrencies as their main source of income.

The survey exclusively targeted Russian speakers who were owners of cryptocurrency, in order to accurately gauge this segment of the Russian crypto-economy. Although the survey was conducted in Russia, its findings can be applied to a broad spectrum of different nations, as it mainly relates to the crypto community as a whole.

The average age among those who answered the survey was 27 years, reflecting that a large part of the crypto community is comparatively young. Moreover, most of them had once recently become interested in cryptocurrencies – specifically Bitcoin – and 28% of respondents counted themselves as ”active in the crypto community”. The vast majority of those involved with cryptocurrencies are also men, with women comprising only 7% of the respondents.

Perhaps the most sensational part of the survey is that for 12% of those asked, cryptocurrency is their main source of income. Furthermore, a further 26% of the respondents regard cryptocurrency as an additional source of income besides their main income. This means more than every third Russian cryptocurrency investor asked is already making some sort of income off their cryptocurrency investment.

That 12% of those asked answered that crypto forms a significant share of their income is impressive, considering many of the cryptocurrencies have decreased in value following their December peak. It would seem that many in the crypto community are still profiting from cryptocurrency despite this. The survey also found that the most popular currencies are that of Bitcoin and Ethereum – none of which come as any particular surprise.

The survey also demonstrates a firm belief among the community that the best is yet to come for cryptocurrency. Only a mere 1% believes that cryptocurrency is a bubble, meaning that 99% are adamant that cryptocurrency will see both increased adoption and a future increase in value.

Although the survey is clearly mainly studying the Russian market, it still holds value to the rest of the crypto community. It has data on everything from the most common uses of cryptocurrency – paying for freelancer work – to how large a proportion of respondents commonly use cryptocurrencies for purchases, or plan to convert coins to fiat currencies. The vast amount of statistics and data gathered should prove a gold mine for those gauging attitudes among the cryptocurrency community. It also proves a fascinating read for everyone keeping tabs on cryptocurrency and the blockchain.

Image Source: “Flickr”


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