Research Reveals that Crypto Enthusiasts Prefer Digital Currency Salaries
Soon, companies and upcoming projects might be compelled to reimburse their employees in digital currencies. According to survey involving crypto hobbyists, 66% of the respondents showed preference to cryptocurrency salaries over the fiat money, which is the current norm.
The research, conducted by the Chronobank human resource company, interviewed 445 individuals who are passionate about virtual currencies. The study was conduct in several countries worldwide including the US, Russia and Australia, with an intention of establishing the workplace preferences of the respondents.
As mentioned earlier, the survey, called the Cryptocurrency Compensation Survey, discovered that at least two-thirds of the participants would like to receive their wages in either Bitcoin or other digital currencies.
Precisely, 66% of the respondents indicated that they would prefer to get paid in cryptocurrencies. 83% of the participants said that they would not mind getting their bonus payments and allowance in digital currencies. Also, 72% of the contributors stated that they would prefer an employer that offer a cryptocurrency remuneration option if they were to swap their workplace.
Most of the respondents are confident that the value of crypto assets will soar in the future. For this reason, only a paltry 20% would covert their crypto earnings into fiat money. Regarding the impact on their expenditures, half of the participants stated that cryptocurrency salaries would assist them in reducing their overall budget. As expected, majority (60%) of long-term crypto asset holders are young people whose ages range from 18 to 24.
Concerning the readiness of markets to adopt cryptocurrency salaries, Japan emerged as the outright leader with 32% of respondents expressing the desire for such reimbursement methods. The Asian country is followed by the US and South Korea, both of which received 15%. Overall, more than a half of the participants believe that the adoption of such initiatives will spur the growth of their national economies. Remarkably, 655 of American respondents indicated that they would pay their taxes in crypto, while only 30% of Russians would welcome such an initiative.
Lastly, most of the participants were male, with only 8% being female. Out of these, three-quarters are currently employed.