Global professionals who are increasingly interested in Bitcoin and crypto payments

Global professionals who are increasingly interested in Bitcoin and crypto payments
Global professionals who are increasingly interested in Bitcoin and crypto payments

Source: AdobeStock / Asiandelight

The ongoing market downturn has not dissuaded professionals from taking payment in crypto-assets, as indicated by the latest report released by global salary specialist Part.

In the first half of 2022, crypto payments represented 5% of wages collected by cross-border professionals, up from 2% in the previous six-month period.

“Crypto withdrawals hold for the past six months,” the platform said.

The report states that crypto payments are particularly popular in regions with significant currency volatility, with Latin America leading the way, accounting for 67% of global withdrawn crypto payments between January and June 2022.

Europe, the Middle East and Africa ranked second, with a 24% share, followed by North America with 7%, and the Asia-Pacific region with a 2% share, according to Deel.

Professionals collect their salaries in a wide range of coins, but bitcoin (BTC) dominated the crypto payment segment, with a 47% share in the first six months of this year, as shown by figures from the report.

The number one crypto was followed by USD Coin (USDC), with 29%, and ethereum (ETH), with 14%. Global professionals are also collecting their payments in solana (SOL), which had an 8% stake, and dash (DASH) at 2%.

Deel said it used data from more than 100,000 cross-border contracts in 150 countries and over 500,000 wage data points from Deel and third-party sources for its research. Trends are tracked over six months, from January-June 2022, and the countries represented all have more than 20 employer-employee contracts registered at the time of the report’s release, they added.

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Deel says it provides the necessary tools to hire, pay and manage contractors and employees for approx. 150 countries worldwide, and that the company’s services are used by more than 8,000 customers globally. Some of the platform’s clients include Air table, Share, Dropbox, Shopify, and Spending deskamong other things according to data from Deel.

Contractors can withdraw a percentage or all of their paychecks in bitcoin, ethereum, solana, dash and USDC, Deel said.

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Learn more:
– Mastercard: 51% of surveyed consumers in Latin America and the Caribbean have “experienced” crypto
– Almost 1 in 3 surveyed hedge funds plan crypto investments – PwC

– 84% of Brazilian high earners surveyed know what crypto is
– 40% of surveyed people with lower income want to use Bitcoin – not to make money

– 13% of surveyed Canadians owned Bitcoin in 2021, up from 5% in 2020 – Bank of Canada
– Accenture sees strong demand for digital assets among Asian investors, but hesitancy among advisory firms

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