A recently conducted survey found that out of 1,000 people, as much as 31% would accept being paid a portion or all of their salary in cryptocurrencies like bitcoin. While most employees would take the risk-averse side and have a small percentage of their salary in crypto, a surprisingly high number would “go all-in.”
The survey was conducted by multinational enterprise software company Sage, which reportedly used Google Surveys to get to its results. It found that out of the 31% who would be happy to be paid in cryptocurrency, most (37%) would like to receive 1-20% of their salary in it, with the rest coming in fiat.
Surprisingly, 11% would like to receive between 61-80% of their salary in crypto, while 15% would like to go “all-in” and receive 81-100% in cryptos. Commenting on the findings Darren Francis, who commissioned the survey, stated:
It’s interesting that more people were leaning towards the ‘all-in’ option; having their sole or dominant income paid to them in cryptocurrency.
Sage further found that men are three times more likely than women to accept cryptocurrencies as part of their salary. In a report on the results Sage pointed out that bitcoin’s ownership is 90% male, a figure that likely skews the results.
The survey’s findings pointed out that younger generations are more willing to accept cryptocurrencies, as other studies suggest. Millennials were found to be the age group most interested in being paid in crypto, with 33% of those aged 25-34 showing they would accept it. Those approaching retirement were found to be skeptic as only 5% showed interest, while out of those already retired 7% would accept cryptocurrencies.
As CryptoGlobe covered, real estate developer Get Living found that, in the UK, 21% of millennials would prefer investing in cryptocurrencies over real estate, as they deem the latter a “high risk” investment. Another study, conducted by the Hong Kong Blockchain Association (HKBA) found similar interest among millennials, and that 23% of Hong Kong’s citizens are considering buying crypto ahead of a perceived financial crisis.
Some analysts have pointed out that if Sage’s study was conducted using Google Surveys, the results may be skewed as these reach internet users in general, with some likely not knowing what cryptocurrencies are.
Curiously, a study by IW Capital, a Mayfair-based SME investment house, found that 38% of cryptocurrency investors in the UK don’t “understand” cryptocurrency. Per the study, only 5% managed to profit from their investment in crypto, a number likely skewed by the market’s decline and by investors’ lack of knowledge.