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Cryptocurrency transactions are becoming a viable alternative to traditional electronic payments and Russia is no exception to the trend. Recent surveys indicate that a large number of Russians have already started using digital coins for online purchases and many others are willing to try.
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Crypto Payments Among the preferred Cashless methods
<img class = "alignright wp-image-264886 size-medium” title=”Survey Shows 13% of Russians Use cryptocurrency for online purchases” src=”https://news.bitcoin.com/wp-content/uploads/2018/12/shutterstock_655168411-300×199.jpg” alt=”Survey Shows 13% of Russians Use cryptocurrency for online purchases "width =" 300 "height =" 199 "srcset =" https://news.bitcoin.com/wp-content/uploads/2018/12/shutterstock_655168411- 300×199.jpg 300w, https://news.bitcoin.com/wp-content/uploads/2018/12/shutterstock_655168411-768×508.jpg 768w, https://news.bitcoin.com/wp-content/uploads/2018/ 12 / shutterstock_655168411 -696×461.jpg 696w, https://news.bitcoin.com/wp-content/uploads/2018/12/shutterstock_655168411-634×420.jpg 634w, https://news.bitcoin.com/wp-content/ uploads / 2018 /12/shutterstock_655168411.jpg 1000w "sizes =" (maximum width: 300px) 100vw, 300px”/>A survey conducted among 924 residents of the Russian Federation on the eve of the holiday season shows that 13% of Russians use cryptocurrencies to pay for items purchased on the Internet. It may not sound like much, but the results of the survey, which covers the full range of cashless payment methods, also show that there is more ground to conquer.
For example, 18% of respondents declare to use peer-to-peer mobile payment systems and 38% regularly make payments via contactless applications such as Paypass, Apple Pay, Android Pay and Samsung Pay, reports Forklog.
Another 48% have a mobile bank account and 56% prefer non-bank alternative payment systems. 76 percent said they use electronic portfolios to buy goods and services. This means that many of the study participants are familiar with a range of digital payment methods and could easily switch to cryptocurrency based platforms in the future.
Most respondents have confirmed that they often pay by debit and credit cards or through direct bank transfers, as they do in any country with a traditional developed banking system. Nearly half of those questioned in the survey, which was ordered by Kaspersky Lab, admitted to being uncomfortable about online payments in general because they do not believe their funds are safe.
Muscovites who have never owned the crypt want to spend it
By eliminating third-party intermediaries and ensuring full control of their money, cryptocurrencies offer an alternative approach to protecting financial assets. In many respects, cryptographic transactions can also be faster, cheaper, cheaper and to a large extent anonymous.
<img class = "alignright wp-image-264891 size-medium” title=”Survey Shows 13% of Russians Use cryptocurrency for online purchases” src=”https://news.bitcoin.com/wp-content/uploads/2018/12/shutterstock_599893619-300×200.jpg” alt=”Survey Shows 13% of Russians Use cryptocurrency for online purchases "width =" 300 "height =" 200 "srcset =" https://news.bitcoin.com/wp-content/uploads/2018/12/shutterstock_599893619- 300×200.jpg 300w, https://news.bitcoin.com/wp-content/uploads/2018/12/shutterstock_599893619-768×512.jpg 768w, https://news.bitcoin.com/wp-content/uploads/2018/ 12 / shutterstock_599893619 -696×464.jpg 696w, https://news.bitcoin.com/wp-content/uploads/2018/12/shutterstock_599893619-630×420.jpg 630w, https://news.bitcoin.com/wp-content/ uploads / 2018 /12/shutterstock_599893619.jpg 1000w "sizes =" (maximum width: 300px) 100vw, 300px”/>These are probably some of the reasons why 5% of participants in another survey said they wanted to try cryptocurrency payments, even though they never owned digital coins before. The survey was conducted by Russia's largest electronic payment service Yandex Money in cooperation with the Moscow City Department of Digital Technologies and published last month.
The researchers found that 34% of residents of the Russian capital prefer cashless payment methods. Of these, 63 percent conduct such transactions on a daily basis. The report identifies insufficient knowledge and confusion about cryptocurrencies as the main obstacles to wider adoption.
Despite gaining considerable popularity in the last two years, cryptocurrencies remain unregulated in Russia. Three invoices were introduced and approved at first reading in the lower house of the Russian parliament at the beginning of this year, but legislators are still finalizing legislation. The adoption of the main project, the "Digital financial resources" law, has recently been postponed for the spring parliamentary session.
Which payment method do you prefer for online purchases? Let us know in the comments section below.
Images courtesy of Shutterstock.
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