Retailers report a sharp rise in hardware wallet purchases ahead of new national crypto rules set to start on 01.09.2026.

Retail figures

M.Video reported that marketplace unit sales rose by 107% in the second quarter versus the first quarter, with revenue up 92%.

Exact unit volumes were not disclosed by the retailer, and no single explanation was provided for the increase.

Wildberries recorded an 84% year‑on‑year increase in units for the first half of 2026, and payments rose by 60%.

The average price of a hardware wallet on that platform declined by 13%, reaching 7900 rubles.

Regulatory context

The rise in demand coincides with the launch of a new Russian regulatory regime for cryptocurrencies on 01.09.2026, which imposes trading and custody rules.

Under the scheme, market participants will operate via regulated exchanges and digital depositories, and retail investors may buy liquid cryptocurrencies after testing.

• Annual retail purchase limit of 300 000 rubles per intermediary applies to tested investors.
• Crypto payments within the country remain prohibited under the new rules.
• Withdrawals from Russian digital depositories to personal wallets will be restricted during a transition period ending on 01.07.2027.
• After the transition, transactions must pass through regulated entities and banks will be required to reject operations outside this framework.

Legal experts estimate that noncustodial wallets themselves are not expressly banned by the law, although operational constraints will increase.

Security considerations

Hardware wallets keep private keys on separate devices without constant network connections, which reduces the risk of key compromise but does not eliminate it.

On 30.07.2026 Coinkite disclosed a vulnerability in Coldcard firmware that weakened seed generation; estimated losses related to the issue exceeded $116 mln.

Retail demand for offline key storage appears to reflect both regulatory uncertainty and ongoing concerns about custody and operational security among users.