The cryptocurrency market represents trillions of dollars that aren’t being invested traditionally. While many are skeptical about crypto, it is positive that the adoption of cryptocurrency has been evolving progressively. In particular, crypto payment adoption is getting promising. Cryptocurrencies are introducing the concept of assets becoming money through real-time access. By leveraging the digital processes that enable crypto transactions today, investment platforms of the future could have the capability to instantly convert a traditional asset into usable currency for real-time use.
Being paid in cryptocurrency has its benefits as it eliminates the need to deal with a bank, enabling instant clearance of payments, easier fund transfers, and have more chance to make profit than traditional currency.
Stephen Gerrits, a senior at Clemson University in South Carolina, has a part-time gig with a start-up where he gets paid in cryptocurrency. He said he has probably earned more than whatever he would’ve made in real money due to crypto value changes.
With the dramatic growth of cryptocurrencies, and more young people entering the workforce interested in getting paid in crypto, and as employers look for creative ways to attract talent, more companies are exploring paying salaries in digital tokens.
Back in November, LinkedIn reported that crypto-related job listings have increased by 600% since August 2020. Large finance companies also offered big bonuses to attract more crypto talent. HR firm Johnson Associates said that crypto positions pay 20%–30% higher than comparable non-crypto positions.
Moreover, in response to a challenge by Bitcoin evangelist Anthony Pompliano, three United States politicians declared that they would accept their salaries in BTC. Miami Mayor Francis Suarez, New York Mayor-elect Eric Adams, and Tampa Mayor Jane Castor said they would take BTC paychecks.