Survey Finds That 29% Of Freelancers Wish To Be Paid In Crypto

A new survey emerged in the crypto news today, showing that about a third of the people who work remotely and with only a computer next to them – known as freelancers – would rather get paid in cryptocurrencies like Bitcoin over legacy systems as well as banks.

The survey was conducted by Humans.net which is a job recruitment platform in the US. It covered about 1,100 US-based freelancers and showed that 18% of the respondents would like to receive all of their earnings in crypto – while 11% of them said that they would prefer to receive a portion of their payments using digital assets.
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Randomly selected from the freelance market of the US, the respondents of the study did not disclose any previous interest in cryptocurrencies prior to the survey. Currently, freelancers are mostly paid through cross-border payments and services such as PayPal, Payoneer, TransferWise and remittance platforms such as Western Union.

However, there are many limitations even to these platforms which is why freelancers are looking for better ways to store their earnings. The biggest challenge, according to many of the interviewed freelancers, are the high fees which translate to $250 on a $5,000 transaction (an example for PayPal and Western Union).

Major cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) allow freelancers to receive payments with low fees. As a reminder, Binance recently sent $600 million paying a fee of $7 which is how beneficial these forms of payments actually are.

On top of this, the inability of some countries to regulate platforms like PayPal and TransferWise also paves the way for crypto to be introduced. The merchant adoption is among the main factors that stops freelancers from receiving Bitcoin and other forms of crypto as well as spending it on a daily basis.