Russians Flock to Cold Crypto Wallets Amid Regulatory Uncertainty

Russian investors are turning to cold crypto wallets in droves as they seek maximum security for their assets amidst a changing regulatory landscape. According to data from major retailers, sales of hardware wallets grew by 107% in the second quarter of 2026 compared to the first three months of the year.

The trend is driven by a combination of factors, including the upcoming law 'On Digital Currency' on September 1, 2026, and investors' desire to protect their assets from centralized intermediaries. Russians are not only increasing their purchase volumes but also shifting towards high-tech devices that support NFC, biometric authentication, and autonomous backup methods.

The dominant position in the Russian market is held by global giants Ledger and Trezor, whose combined share accounts for almost 50% of all devices sold. However, alternative manufacturers are gaining traction with innovative features such as integrated NFC modules and specialized backup cards.