Russia’s average amount of crypto investments for 2022 was 17 500 RUB

The direction is in fourth place in popularity after deposits, securities, e-wallets, and NPFs

31.03.2023 - 15:25

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What’s new? In 2022, Russian households invested an average of 17 500 Russian rubles (RUB) in cryptocurrency. In terms of popularity, this type of investment was in fourth place after accounts and deposits, stocks and bonds, e-wallets, and non-state pension funds (NPFs). Thus, the share of households owning cryptocurrencies was 0,4%. The data are given in the annual report of the Bank of Russia on consumer finance.

Source: presentation of the Central Bank of the Russian Federation

What else does the report say? The survey was conducted between April and August of last year among 6000 households and 12 000 people in 38 locations. According to its results, more than 65% of households have financial assets, including, in addition to cryptocurrencies (0,4%), bank accounts and deposits (64,5%), stocks and bonds (1,6%), NPFs (0,9%), electronic wallets (1,2%), shares in mutual funds (0,3%) and metal accounts (0,3%).

The average amount invested by Russians in any of these financial assets was 15 700 RUB. Cryptocurrencies in terms of this indicator are also in fourth place, behind NPFs, units in mutual funds, and securities. Most of those surveyed allocated no more than 20% of their income to savings in 2022.

According to US crypto exchange Coinbase, in February 2023, more than 50 million US citizens (20% of the adult population) own cryptocurrencies and 76% of them reported that the future is in this type of asset and blockchain technology. Another 67% said that the current financial system needs a major overhaul.

Earlier, the head of Rosfinmonitoring Yury Chikhanchin noted an increase in the use of cryptocurrencies in Russia. The agency monitors more than 25 000 participants in cryptocurrency transactions, as well as about 10 financial institutions assisting them. According to Chikhanchin’s statements, cryptocurrency turnover exceeded 630 000 BTC (~$13,67 billion/1 trillion RUB).

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