The study's authors reported that only 3-5% of respondents currently own cryptocurrencies, despite high awareness of this class of virtual assets (80%).
Sixty percent of respondents cited "colossal potential for returns of hundreds of percent" as the main advantage of digital coins.
Potential Russian investors value virtual coins' independence from banks and political risks (35%), global liquidity, and the ability to trade 24/7 from anywhere in the world (30%).
Forty-five percent of survey respondents cited extreme volatility, which could lead to a price collapse "by 30-50% in just a few hours," as the main risk of cryptocurrencies. A second critical factor is the uncertainty surrounding cryptocurrency legislation, which is still being developed in Russia and other countries. This discourages 80% of potential investors, the study's authors complained.
Nineteen percent of respondents noted technological risks associated with digital assets, including hacks of crypto exchanges, permanent loss of access to e-wallets, and the growing number of scams promising quick profits.
The survey involved 2,500 adult Russians, according to Vyberu.ru and IT Smart Finance.
Earlier, Vladimir Chistyukhin, First Deputy Chairman of the Bank of Russia, stated that one of the priority tasks of the agency and the government is to create a legislative framework for regulating cryptocurrency exchanges.