In the financial market, digital trading assets is a proven way to make money. Although some people invest in cryptocurrency to make money, others see it to protect themselves against events such as inflation. Turkey is one such example, where most of the populace flocked to the main digital currency, Bitcoin, as the Lira’s value collapsed. According to a recent Russian survey, this is also the case in Russia, but without inflation. According to the survey, over 46% of retail crypto traders feel the assets meet their hedging needs.
Russian traders are overlooking the real estate market in Russia
Investing.com has conducted a survey to determine how most retail traders in the United States see digital assets. Only 46% of 1,000 respondents in the Russian survey agreed that they held the assets as a hedge against a downturn in the economy. According to the newspaper, the survey also asked respondents to pick between digital trading assets and investing in cryptocurrency.
According to a Russian poll, only 37% of respondents said they would rather invest in real estate than digital assets. According to a review by a top executive at Investing.com’s Russian office, most people consider real estate to be the best financial instrument to invest in during a slump.
She noted that digital assets had surpassed traditional financial products to become the financial sector’s standard-bearer this year.
Crypto activity has increased in Russia
According to the Russian poll, although the crypto industry offers many assets to trade, most Russian traders still favor Bitcoin. According to recent research conducted by Brand Analytics, a data website, Bitcoin has surpassed assets such as Tether and Litecoin to become the most sought-after asset in the country.
Digital assets have continued to stake their claim in the financial market, with 77 percent of traders in Russia confirming that they own one or more digital assets, according to recent research. According to the Russian poll, merchants sold their gold and bought digital assets with cash. The Bank of Russia recently produced a report that backed up these figures. According to the bank, Russian traders were instrumental in the crypto sector’s tremendous surge to $2.8 trillion in market capitalization.
Russia is currently one of the largest donors to the national Bitcoin hashrate, according to Binance, which has confirmed substantial traffic from dealers in the region. Most people are still getting on the crypto train, although the symptoms of the pandemic are still present. Goldman Sachs reported in early November that more traders are switching to Bitcoin and abandoning gold. Other analysts are now speaking out in favor of crypto regulation, claiming that it is now more trustworthy than government bonds.