In a survey conducted by Human Resource company on the Blockchain, Chronobank shows that about 70% of cryptocurrency and Blockchain enthusiasts prefer to be paid in crypto as opposed to fiat currencies.
Chronobank interviewed a sample size of 445 individuals who are bullish on cryptocurrency from around the world including the United States, Russia and Australia. Majority of those surveyed preferred to be paid particularly in Bitcoin, while other coins such as Ethereum, Litecoin etc followed.
83% of the number also wanted to receive bonus payments in crypto whiles 72% of respondents would prefer their next employee to have cryptocurrency payment options for salaries.
Majority of those surveyed are optimistic of value appreciation in the cryptocurrency market as such they believe that receiving their salaries in crypto-coins is an avenue to hedge their funds. This was made more pronounced when only a fifth of those surveyed said they would convert their cryptocurrency earnings into fiat or fiduciary currency.
50% of respondents believe that being paid in cryptocurrencies would make them spend less whiles only 19% intend to use it as a medium to transact – majority would rather hodl. The number of long term hodlers in the 18 to 24 age bracket are as high as 60%.
On the flip side, employers are increasingly willing to offer payment options in cryptocurrencies. 32% of employers in Japan are very much open to the idea of crypto salary payment, 15% in the United States and 15% in South Korea.
A sizeable chunk of respondents believes that making payments in cryptos would help with wider adoption and usage of the digital currencies. A good number of those surveyed were open to paying their taxes in cryptocurrencies to help their respective governments generate revenue.
92% of those surveyed were male, 40% of respondents were aged between 25 and 34 and 75% of the total number are currently employed.