Hardware crypto wallet sales in Russia surged in the first half of 2026 as a sweeping new digital asset law nears its Sept. 1 start date. Retailers M.Video and Wildberries both report sharp jumps in demand, with Ledger and Trezor capturing most of the rush.
Hardware wallet sales in Russia more than doubled in the first half of 2026. Unit sales at retailer M.Video rose 107% in the second quarter from the first quarter. Rival marketplace Wildberries logged an 84% increase in the first half from a year earlier.
New rules take effect Sept. 1
Behind the buying spree sits a new digital asset law that President Vladimir Putin signed on Aug. 4 and that takes hold Sept. 1, 2026. From that date, licensed intermediaries become the required channel for most retail crypto trading, and non-qualified investors are capped at 300,000 rubles, roughly $3,800, in annual purchases per intermediary, on top of mandatory suitability testing.
The rule drawing the most attention sets a 48-hour cooling-off period on any transfer above 100,000 rubles moved from a licensed exchange into a non-custodial wallet. Even so, lawyers told RBC that Russian law neither bans non-custodial wallets nor treats them as illegal. What it does restrict is moving funds out of Russian digital depositories into personal wallets, a curb that stays in place until a grace period lapses on July 1, 2027.
Ledger and Trezor dominate the rush
Not all hardware wallets are benefiting equally. Ledger accounts for about 40% of hardware wallet sales at M.Video, with Trezor capturing around 20%. Together, the two brands represent roughly 60% of the category.
Still, M.Video's sales by value rose 92% in the quarter. Wildberries' average price for hardware wallets fell 13% to 7,900 rubles. Neither retailer identified the driving force behind the demand, though both reportedly enhanced their stock of popular brands ahead of the regulatory deadline.
Self-custody carries its own risks
Hardware wallets keep private keys on a dedicated device instead of an internet-connected service, which helps reduce exposure risk. Yet the technology carries its own risks: Coinkite disclosed on July 30 that a Coldcard firmware flaw had weakened seed generation, with estimated losses of more than $116 million tied to the bug.
Sources: CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data, Crypto Briefing
Trading involves risk.
Risk Disclaimer
