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Survey: 29% US Freelancers Prefer To Be Paid In Crypto

17:10 05/12/2018

29% of US freelance workers prefer to receive salaries in cryptos rather than through traditional financial institutions, a study published on the job search resource Humans.net shows.

 

The survey involved 1100 freelancers across the US whose responses showed that 18% of respondents would like to get the whole income in cryptocurrencies, while 11% would prefer just a part of their salary to be paid in crypto assets. The respondents were selected randomly among participants in the US freelance market, and the workers revealed no special enthusiasm for cryptocurrencies before the survey.

Freelancers more often conduct international transactions since they do most of their work for foreign companies. They have to choose from a limited number of services, such as TransferWise, Western Union, PayPal, or wire transfers. The majority of these services have drawbacks, for example, PayPal and Western Union charge high fees for transactions, and TransferWise sets strict limits on the amounts available for a transfer per day.

 

According to freelancers, payments in bitcoins or ethers are more convenient in terms of security, speed, almost complete independence from the location, and fees for those transfers are very low. 

For example, in mid-November, the world's biggest crypto exchange Binance successfully sent funds in total amount of $600 million with a commission of just $7 in the Bitcoin network. For comparison, the commission for such an operation would be about $30 million in PayPal.

 

As previously reported, Coinbase added the option of free withdrawals on PayPal.

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