A new survey shows that a surprising number of people are willing to have their salary paid in cryptocurrency.
There is a consensus that for cryptocurrency to become mainstream, most businesses have to accept it as a means of payment. People go back and forth on how you can’t really use Bitcoin to buy a cup of coffee, and this is a valid point. However, another factor in mainstream adoption that is often left out of the conversation is paying people their salary in virtual currencies. A new survey shows that a good percentage of people are now willing to have that happen.
Cryptocurrency Salary Survey Says…
A new survey by Sage asked 1000 people on whether they would be okay with having their salary (or a portion of their salary) paid in cryptocurrency. A total of 31 percent of the respondents said yes, versus 69 percent that said no.
The age breakdown of the yes votes is pretty interesting. 18 percent of people ages 18 to 24 were willing, compared to 33 percent of those aged 24 to 34. People between 35 and 44 clocked in at 25 percent. From there, the numbers dropped dramatically: 12 percent (45 to 54), 5 percent (55 to 64), and 7 percent (65 plus).
This survey shows a similar attitude towards cryptocurrency by age as the recent Well Fargo/Gallup poll. In that particular poll, younger investors were much more likely to know about cryptocurrencies (48 percent) than older investors (22 percent for those 50 and older) and be interested in them (41 percent versus 20 percent).
While willing to accept digital currencies as payment, the volatility of coins does make people skittish. 37 percent of those saying yes were willing to have up to 20 percent of their pay made in cryptocurrency. 18 percent were willing to go up to 40 percent, and another 18 percent was fine with going as high as 60 percent of their salary. 11 percent were gung-ho and pushed the digital currency rate up to 80 percent, and 15 percent like living on the edge and would take their full salary in cryptocurrency.
NFL Players Going Crypto
Another group of people looking to blockchain and virtual currency to earn revenue – NFL players. The NFL Players Association (NFLPA) is teaming up with SportsCastr, a streaming platform that allows players to earn crypto through a variety of means.
The deal allows players to create their own channels, free or behind a paywall, and create content for their fans. One of the interesting features is that players can be livestreaming commentary for a football game that is being played live. Hearing a professional dissecting the game is a lot more interesting than the usual sportscasters found on broadcast networks.
Viewers will use FanChain tokens to use the service and tip/pay the players. Players will start appearing on the platform when the NFL season kicks off this fall. One of the best things about this new project is that it’s open to both current and retired players. For football fans, it would be incredible to have a favorite Hall of Famer come on and provide their own take on the game. Non-football fans can relax as the platform plans on expanding into other sports.
Overall, getting paid in cryptocurrency is an integral component of making virtual currencies mainstream. Such an instance allows people instant access to the crypto ecosystem without having to buy it on an exchange. Plus, the more that people are willing to be paid in crypto, the more they’ll use it in their everyday life.
It will take some time for this to happen, but the writing is on the wall. The younger generation is growing up in a digital age and is quite happy dealing with digital currency. You can expect the numbers given in the survey above to go up with each passing year.
Are you willing to have all or part of your salary paid in cryptocurrency? Let us know in the comments below.
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