Hardware wallet sales in Russia more than double as new crypto rules near
Wildberries’ average price for hardware wallets fell 13% to 7,900 rubles, and M.Video broadened its range of products, though neither retailer identified the driving force behind the renewed demand.
Russian demand for hardware crypto wallets has surged more than double in the first half of 2026, according to data from two major retailers. M.Video reported a 107% increase in unit sales on its marketplace in Q2 compared to Q1, while Wildberries saw an 84% rise in unit sales from H1 2025 to the same period in 2026. Sales value also increased, with M.Video seeing a 92% rise and Wildberries a 60% increase.
These devices keep private keys secure by storing them on a dedicated device rather than an internet-connected service. Despite the increase in demand, Russian law does not ban non-custodial wallets and they are not treated as illegal, though it does ban withdrawals from Russian digital depositories to personal wallets. The country is set to introduce new crypto rules on September 1, 2026, which will allow regulated exchanges and digital depositories to operate while restricting domestic crypto payments.
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