66% of cryptocurrency investors want to be paid in Bitcoin
A recent survey from ChronoBank asked 445 cryptocurrency investors from around the world if they were happy to receive their salary in cryptocurrency. The participants in the survey were overwhelmingly male and 75% of them were in employment. The results revealed that two thirds (66%) of the respondents were interested in this, but only half of them believed that it would become reality anytime soon.
72% of the respondents would, however, base their future job decisions on whether or not the employer offered the option of being paid in cryptocurrency. This would indicate a growing interest in crypto-salaries, which means employers should probably start looking at implementing this option. Interestingly, only half of the respondents were willing to pay tax on the profits made from their cryptocurrency investments.
Pros and cons of crypto-salaries
60% of the respondents revealed that they would spend less money if they were paid in cryptocurrency. The reason given for this was that those who identified as ‘hodlers’ were too eager to see if the value of their tokens would increase. This response was particularly noticeable among the younger participants.
One of the main concerns expressed by the participants were in relation to governmental regulations of cryptocurrency. The main issue with regulations is the lack of clarity from the regulatory bodies. No one really seems to know what the rules will be, which worries the crypto-community. The CEO of ChronoBank, Sergei Sergeinko, said:
“Even though there are ongoing changes in the legislation of different countries in the field of cryptocurrency, audiences are still not adequately informed about the innovations. Almost half of the respondents do not have enough information on whether salary payments in cryptocurrencies in their countries are allowed.”
That said, the majority of the survey respondents were optimistic about the future and believed that the benefits of cryptocurrency payments would eventually make the concept mainstream.
70% of finance executives believe cryptocurrency is here to stay
Meanwhile, Greenwich Associates released a report of a recent survey they conducted among finance executives. They wanted to clarify what people in the finance sector thought about the future of cryptocurrency. The rationale for the survey was that a high market volatility has turned many people off the concept of cryptocurrency.
The result of the survey, however, confirmed that most respondents were confident about the future of digital money. 141 investment executives from prominent financial institutions were surveyed, and 70% believed cryptocurrency is here to stay. Only 10% thought that the cryptocurrency market would be destroyed by regulations. Another 10% thought cryptocurrency would stay, but not become mainstream.
It’s been a tough year with ups and down for the market
Despite the increasingly wider acceptance of cryptocurrency, 2018 has not been a great year on all fronts. The market for digital assets has fallen more than 70% since the beginning of the year. This could very easily be due to the regulatory uncertainty that surrounds the market for the cryptocurrency. However, with big banks, big tech companies, and Wall Street firms investing more energy and resources into the market, it is not going away anytime soon.