Ukrainians Get New Money

by Olha Povaliaieva
Monday, January 10, 2022
Photo 2022 01 10 15 26 32

In recent years, Ukrainians have increasingly begun to store money digitally  

Until recently, in Ukraine, the most popular way of storing money was foreign currencies — dollars, euros. They were bought and stored in people’s homes. The more progressive people kept money in foreign currency on deposits. But in recent years, there has been a complete change in "traditions". In Ukraine, there has been a trend towards increasing interest in cryptocurrency. Ukrainian savings increasingly take the form of intangible means on electronic wallets. In 2021, Ukraine even ranked first in the list of states, with residents possessing cryptocurrency. The rating was based on the percentage of people with virtual money. The account was taken of Ukrainians possessing cryptocurrency and any other deposits in the form of electronic money resources. Specialists note that there are not many cryptocurrency owners in Ukraine. But every year, the number of people interested in such virtual money increases.

Currently, Ukrainian virtual wallets have 5.5 million inhabitants of the country. In percentage ratio, the index has a value of 12.7%. This means that every 8 Ukrainians have a digital savings account.

This way of storing money shows that in Ukraine, modern technologies are well developed, and people are starting to understand them. But on the other hand, these same indicators suggest that the Ukrainian market is open to creating new ways to invest savings.

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