A new study from Clarify Capital has revealed that 30% of American workers are open to receiving their salaries in cryptocurrency.
Bitcoin is becoming a preferred payment method for many, especially among younger generations.
The crypto salary trend
Per the study, it’s the Gen Z crowd leading the charge, with 39% of them want to get paid in crypto, but millennials aren’t far behind either at 32%, while only 15% of baby boomers show any interest for this digital payment trend.
So, if you’re wondering why your younger colleagues are talking about Bitcoin in the work, now you know!
When it comes to which cryptocurrency people prefer, Bitcoin reigns supreme, because you know, there is no second best.
A 72% of respondents chose BTC as their top pick. Following that are Ethereum at 43%, and stablecoin USDC at 28%.
Litecoin and Dogecoin also made the list, capturing 17% and 15% of preferences, respectively.
Gains
But why are so many people excited about getting paid in crypto? Maybe it’s not a big surprise, but more than half of the 800 surveyed said they’re drawn to the potential for increased prices.
Others mentioned diversifying their income (33%) and enjoying a bit more financial privacy and security (24%).
Of course, it’s not all sunshine and rainbows, respondents also pointed out some downsides to crypto pay.
As the study notes, this shift could have its challenges, including price volatility, regulatory uncertainties, and limited acceptance among businesses.
So, while the idea of getting paid in Bitcoin sounds cool, there are definitely some hurdles to jump over.
Crypto loans on the rise
The study also found that one in four U.S. business owners is considering taking out loans in cryptocurrency.
In fact, within the next year, about 10% of businesses looking for financing are expected to choose crypto loans over traditional options.
When it comes to preferences for loan types, centralized crypto loans are leading the pack with 47% favoring them.
Peer-to-peer loans follow closely at 37%, while margin loans and flash loans are less popular at 8% and 11%.
