New for digital asset management company Bakkt Investigation Fifty percent of gig workers said they were happy to receive part of their payments in cryptocurrencies, and 38% said they could consider earning their entire salary with digital assets.
Nicholas Cabrera, Bakkt’s Chief Product Officer, commented on the findings that clearly demonstrated the appeal of cryptocurrencies among gig workers, saying:
“While this group can benefit from a better understanding of how crypto is used, ride-sharing drivers, food delivery drivers and other gig workers list crypto as the next-generation currency and payroll. I am attracted to the potential for increased value. “
The survey asked 1,018 gig workers across the United States from June to July 2022. This question aims to clarify participants’ opinions on cryptocurrency adoption, feelings, and cryptocurrency payments.
Cryptographic preferences
Of the 50% who are willing to receive part of their salary in cryptocurrency, freelance workers (writers, developers, designers, etc.) have the highest motivation rate of 62%. This is followed by ride-sharing drivers (52%) and grocery shoppers (55%).
Participants answered various questions about the portion of the salary paid in cryptography. Thirty-one percent of gig workers said they wanted to pay less than 20% of their salary in cryptocurrencies. 34% said 20-40% was okay, 21% said they would like to receive 40-60% of their income in cryptocurrency
Cryptographic appeal
The survey also investigated why participants prefer to pay cryptocurrencies. Nearly half (49%) of participants said that despite the current state of the bear market, potential increases in payments are the most compelling reason to receive payments in cryptocurrencies.
Another 26% said they prefer cryptocurrency payments because they were issued immediately. Meanwhile, 1 in 10 (11%) say they recognize cryptocurrencies as a long-term investment plan for retirement.
According to the numbers, more than half of gig workers said their income was sufficient to meet their living needs, not the income they were “good to have”. Given their perception of their gigwork, their willingness to be paid in cryptocurrencies shows a significant adoption rate among gig workers.
Cryptographic barrier
The most important barrier to cryptocurrency payments appeared in education, at 48%. Only 33% of participants rated cryptographic knowledge above average or very high, but nearly a quarter (26%) said they were familiar with traditional investment tools.
Another very high valuation barrier emerged when 34% of participants said they still had to pay invoices in US dollars. Another 33% said cryptocurrencies were too volatile and did not want to risk reducing salaries.
