TIMES.KY

Cayman Islands, Caribbeanand International News
Monday, Mar 18, 2024

65% Of Americans Keen To Be Paid In Crypto, Coinbase Enables Paycheck Conversion

65% Of Americans Keen To Be Paid In Crypto, Coinbase Enables Paycheck Conversion

According to recent study, 65% of Americans would be willing to receive paycheck in Bitcoin, Ethereum and Dogecoin. Coinbase, one of the leading crypto exchanges just announced a new feature that would allow Americans to convert their salary to crypto in just few clicks.

65% of employees are interested getting paid in crypto

Research company, Skynova interviewed over 1,000 working professionals, including 797 employees and 205 managers, to understand how Americans view cryptocurrencies as a form of workplace compensation.

The recent survey included 46.9% of respondents who had already received cryptocurrency as compensation and 53.9% of respondents who hadn’t.

The survey was sent to investigate the general attitude and explore to what extent working Americans are willing to be paid in Bitcoin and other cryptocurrencies. Do they perceive it as a perk and would they quit their job to pursue one that offered this type of compensation?

65.5% of employees responded they would be at least somewhat willing to receive compensation in cryptocurrencies, with just over 28% even classifying themselves as “very willing.”

The employees’ demography surfaced as an important factor since the survey revealed that 63% of millennials view compensation in crypto as a perk.

Fewer than 10% rated the idea of their employers starting to offer salaries in crypto as “very bad.”

Almost a third of the respondents said that they would quit their current job to pursue another that offered crypto compensation, although if their current employer started doing so, 42.2% would quit.

Such an attitude suggests that employees are more eager to pursue new forms of compensation on their own, as opposed to it being imposed on them.

When asked which crypto they would like to see on their paychecks, the majority of working Americans (74.3%) sided with Bitcoin (BTC), followed by Ethereum (ETH) and Dogecoin (DOGE).

According to the survey results, the top benefit to being paid in crypto is the belief that it’s the future of currency, while other commonly perceived benefits to crypto compensation included the potential for financial gains and the diversification of income.

The top perceived drawbacks of compensation in crypto surfaced to be market volatility, the potential for financial losses, and limited acceptance.

More than 200 of the respondents were managers, often in charge of hiring and compensation decisions.

With more than 77% of hiring managers saying they are at least somewhat willing to compensate their employees in crypto, these higher-ups surfaced as more likely to sign off on a crypto paycheck than employees were to receive it.

Where hiring was concerned, cryptocurrency also played a heavy role, since 48.3% of those in charge of hiring employees reported typically looking for cryptocurrency experience.

When screening potential candidates, managers of small and large companies alike often looked for crypto experience, while midsize companies with 50 to 249 employees were in fact looking for this type of experience more often than not.

Coinbase Enables Paycheck Conversion into Crypto

Coinbase, the leading cryptocurrency exchange in the United States, announced a few hours ago that american citizens will be able to automatically receive their paycheck in crypto.

The new “Get Paid in Crypto” service will allow cryptocurrency enthusiasts to directly receive their paycheck in Bitcoin, Ethereum, or any of the 100+ cryptocurrencies available on Coinbase with little to no effort.

Users also have the option to receive payments in U.S. Dollars directly to their Coinbase account, which they can spend with their Coinbase debit card just like a regular bank account. The exchange also offers the option to receive payments in USDC or DAI and earn interest over time.

“Now, you’ll save time on the extra steps it takes to move money so you can immediately earn interest on your income or earn crypto rewards with your Coinbase Card. Plus, you’ll pay zero transaction fees on direct deposit funds so you have instant and free access to the cryptoeconomy.”

According to an official blog post, Coinbase seeks to reduce friction when acquiring or using cryptocurrencies, allowing people to start using or exchanging tokens more easily and instantaneously. Coinbase believes this will represent the future of payroll.

Basically, Coinbase would take care of the entire process, which starts when the client receives the money and extends until the deposit in the exchange and the purchase of tokens. By automating everything and because of the process’s speed, customers get the impression of being paid directly in cryptocurrencies.

Everything is done on a zero-fee basis, although Coinbase will benefit from the spread on transactions.

The registration process is easy and intuitive and is done only once. In general terms, the client must provide information about their current payroll company or employer. Coinbase will take care of the necessary paperwork to receive his money directly in Coinbase.

Source: 65% Of Americans Keen To Be Paid In Crypto, Coinbase Enables Conversion

Newsletter

Related Articles

TIMES.KY
0:00
0:00
Close
Paper straws found to contain long-lasting and potentially toxic chemicals - study
FTX's Bankman-Fried headed for jail after judge revokes bail
Blackrock gets half a trillion dollar deal to rebuild Ukraine
Israel: Unprecedented Civil Disobedience Looms as IDF Reservists Protest Judiciary Reform
America's First New Nuclear Reactor in Nearly Seven Years Begins Operations
Southeast Asia moves closer to economic unity with new regional payments system
Today Hunter Biden’s best friend and business associate, Devon Archer, testified that Joe Biden met in Georgetown with Russian Moscow Mayor's Wife Yelena Baturina who later paid Hunter Biden $3.5 million in so called “consulting fees”
Singapore Carries Out First Execution of a Woman in Two Decades Amid Capital Punishment Debate
Google testing journalism AI. We are doing it already 2 years, and without Google biased propoganda and manipulated censorship
Unlike illegal imigrants coming by boats - US Citizens Will Need Visa To Travel To Europe in 2024
Musk announces Twitter name and logo change to X.com
The politician and the journalist lost control and started fighting on live broadcast.
The future of sports
Unveiling the Black Hole: The Mysterious Fate of EU's Aid to Ukraine
Farewell to a Music Titan: Tony Bennett, Renowned Jazz and Pop Vocalist, Passes Away at 96
Alarming Behavior Among Florida's Sharks Raises Concerns Over Possible Cocaine Exposure
Transgender Exclusion in Miss Italy Stirs Controversy Amidst Changing Global Beauty Pageant Landscape
Joe Biden admitted, in his own words, that he delivered what he promised in exchange for the $10 million bribe he received from the Ukraine Oil Company.
TikTok Takes On Spotify And Apple, Launches Own Music Service
Global Trend: Using Anti-Fake News Laws as Censorship Tools - A Deep Dive into Tunisia's Scenario
Arresting Putin During South African Visit Would Equate to War Declaration, Asserts President Ramaphosa
Hacktivist Collective Anonymous Launches 'Project Disclosure' to Unearth Information on UFOs and ETIs
Typo sends millions of US military emails to Russian ally Mali
Server Arrested For Theft After Refusing To Pay A Table's $100 Restaurant Bill When They Dined & Dashed
The Changing Face of Europe: How Mass Migration is Reshaping the Political Landscape
China Urges EU to Clarify Strategic Partnership Amid Trade Tensions
Europe is boiling: Extreme Weather Conditions Prevail Across the Continent
The Last Pour: Anchor Brewing, America's Pioneer Craft Brewer, Closes After 127 Years
Democracy not: EU's Digital Commissioner Considers Shutting Down Social Media Platforms Amid Social Unrest
Sarah Silverman and Renowned Authors Lodge Copyright Infringement Case Against OpenAI and Meta
Italian Court's Controversial Ruling on Sexual Harassment Ignites Uproar
Why Do Tech Executives Support Kennedy Jr.?
The New York Times Announces Closure of its Sports Section in Favor of The Athletic
BBC Anchor Huw Edwards Hospitalized Amid Child Sex Abuse Allegations, Family Confirms
Florida Attorney General requests Meta CEO's testimony on company's platforms' alleged facilitation of illicit activities
The Distorted Mirror of actual approval ratings: Examining the True Threat to Democracy Beyond the Persona of Putin
40,000 child slaves in Congo are forced to work in cobalt mines so we can drive electric cars.
BBC Personalities Rebuke Accusations Amidst Scandal Involving Teen Exploitation
A Swift Disappointment: Why Is Taylor Swift Bypassing Canada on Her Global Tour?
Historic Moment: Edgars Rinkevics, EU's First Openly Gay Head of State, Takes Office as Latvia's President
Bye bye democracy, human rights, freedom: French Cops Can Now Secretly Activate Phone Cameras, Microphones And GPS To Spy On Citizens
The Poor Man With Money, Mark Zuckerberg, Unveils Twitter Replica with Heavy-Handed Censorship: A New Low in Innovation?
Unilever Plummets in a $2.5 Billion Free Fall, to begin with: A Reckoning for Misuse of Corporate Power Against National Interest
Beyond the Blame Game: The Need for Nuanced Perspectives on America's Complex Reality
Twitter Targets Meta: A Tangle of Trade Secrets and Copycat Culture
The Double-Edged Sword of AI: AI is linked to layoffs in industry that created it
US Sanctions on China's Chip Industry Backfire, Prompting Self-Inflicted Blowback
Meta Copy Twitter with New App, Threads
The New French Revolution
BlackRock Bitcoin ETF Application Refiled, Naming Coinbase as ‘Surveillance-Sharing’ Partner
×