Salaries in Bitcoin? This time, the Average Joe wants in

Sahana Kiran
Source – Unsplash

Bitcoin [BTC], the first and largest cryptocurrency made its debut in the market as a payment option far from the constraints of the government. However, over the years, BTC emerged as a store of value instead. While some held on to this sentiment, a few others went on to use this crypto for payments. Now, the interest in the asset has taken a steep surge pushing people towards seeking salaries in BTC.

Over the last couple of months, particularly, several athletes and even politicians revealed that they would accept their salary in crypto. The Average Joe wasn’t in the picture. However, a recent study indicated that ordinary people wanted to be paid in crypto.

As per data curated by Deel, a global recruitment platform, the percentage of people who sought salaries in crypto had surged by 10 percent since November 2020. Bitcoin was undoubtedly the first choice of most individuals.

It was brought to the community’s attention that 63 percent, out of 100,000 contracts across 150 countries, preferred receiving salaries in Bitcoin. Altcoins did not lag, yet the disparity between BTC and alts was notably high.

Source – State of Hiring Report

While it was no surprise that Bitcoin and Ethereum [ETH] were on the list, other coins like Solana [SOL] and Dash [DASH] were new entrants. Even though the percentage was quite low, their inclusion was a great deal to the crypto-verse.

Countries that topped this list

Latin America [LATAM], as well as Europe, topped the list. 52% of them were from the LATAM area. This was followed by 34% from EMEA. All of them wanted to be paid partially in crypto. North America and the Asia Pacific regions accounted for 7% each.

Mexico, Chile, and Uruguay witnessed the most hires from the LATAM region. In these regions, Software Engineers, Call center agents, and Account executives were the top three roles hired in the territory.

The aforementioned data shed light on how the Average Joe was heavily invested in crypto.

Bitcoin for salaries? There’s still a major divide

Even though the volatility of the crypto market has dramatically decreased, people were still on the fence about investing in Bitcoin and other cryptocurrencies. As a result, salaries in crypto were out of the picture.

Some of them even pointed out the chances of losing out money by accepting salaries in crypto.

However, a few others noted how this could be the other way round as well.

While it could still be a long way for mainstream firms to send out salaries in crypto, the latest data shows how crypto is no longer in its nascent stage.