A new survey has established that one in four Australians would like to receive at least part of their salary in cryptocurrency. While the motives vary between the members of this diverse group, the results indicate that the Australian nation’s overall interest in decentralized digital money remains strong.
4.7 Million Australians Would Accept Bitcoin Remuneration
The poll has been conducted among 1,000 Australian residents by the comparison website Finder. The company is actually among the first in the country to offer employees the option to take a portion of their remuneration in cryptocurrency. The platform has now found that 24% of Australians, or around 4.7 million, are ready to accept bitcoin (BTC) as part of their salaries.
Of those who would be willing to be paid in BTC, Finder pointed out, 14% have said so because they are convinced it is going up in value, while another 10% admitted a bitcoin payment would help them to invest in digital currency before tax.
Taylor Blackburn, personal finance specialist at Finder, notes that the cryptocurrency has seen impressive growth in the past year, “despite its recent drop and sometimes volatile nature.” Commenting on the outcome of the study, Blackburn further emphasized:
With more Australians looking for inflation hedges, yield-bearing assets and alternative investment opportunities, it’s not surprising that this many people are willing to be paid part of their salary in Bitcoin.
Australian Generation X and Millennials View Crypto Salary as Investment
According to the survey, Generation X Australians are more likely than others to view a crypto salary as a wise investment. 22% of the respondents in this age group think BTC is going to appreciate even more over time, along with 19% of millennials. For comparison, only 1% of baby boomers and 13% of Generation Z share their optimism.
The researchers also discovered that men with higher incomes ($100,000 and above) are more interested in Bitcoin in general. Furthermore, male respondents (21%) are far more likely to accept BTC payments than women (8%) because of their belief the cryptocurrency’s value will increase. 13% of men and 8% of female participants respectively think crypto wages will allow them to invest before taxation.
Despite the positive trends registered in the study, over half of Australians (55%) are still not interested in crypto remuneration. Another 13% fear bitcoin’s volatility which lowers their trust in the cryptocurrency. Finder also notes that 8% of the polled Aussies have stated they need to access all the money they make each payday.
Is your salary partially or fully paid in cryptocurrency? Share your thoughts on the subject in the comments section below.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Jcquirin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.