New research from Paysafe, a payments platform, has found that over half of people that hold cryptocurrency would like to receive their salary in digital assets like bitcoin or ether. The research found 55% would like this option and among 18 to 24-year-olds it rose to 60%. Among the top reasons for this were seeing crypto as a smart investment, believing they’re likely to be paid this way in the future, and greater financial flexibility.
The survey is based on responses from 2,000 crypto owners based in the United States and the United Kingdom. People’s opinions in other countries could, therefore, be different. The figure may be higher in countries with repressive governments or where inflation is very high but those places were not surveyed so it's impossible to know their opinions one way or another.
One of the interesting findings from the research was people’s primary motivation for holding cryptocurrencies. Some may think most people are in it just to make money, but according to Paysafe, the biggest motivator was because people see cryptocurrencies as becoming the dominant form of international currency in the years ahead.
When the topic of bitcoin or other cryptocurrencies gets brought up, it’s common for detractors to invoke tulip mania or say the assets are in a bubble and that they’ll burst. It’s not surprising to read that 70% of those surveyed have had doubts at some point during their crypto investing history and 49% have withdrawn some or all of their crypto holdings as a result of these doubts.
Looking at some of the more optimistic views of those surveyed, 60% said they think many more online retailers will accept crypto in the coming year and 47% believe crypto will be accepted in physical stores in the next 12 months. Finally, 49% of those surveyed said everyone is likely to own cryptocurrency within the next five years as it becomes easier to acquire.