A new study by Clarify Capital shows growing interest in cryptocurrency-based compensation and loans among American workers and businesses.
Bitcoin Most Preferred
A new study has found that as many as 30% of American employees are open to receiving cryptocurrency as compensation. As expected, the study found Gen Z (39%) and millennials (32%) were most open to crypto salaries. Boomers were less enthusiastic, with only 15% expressing openness.
The study, conducted by Clarify Capital, found bitcoin (BTC) to be the most preferred cryptocurrency, with 72% of respondents favoring it. Ethereum followed at 43%, with the stablecoin USDC at 28%. Litecoin and dogecoin rounded out the top five, with 17% and 15%, respectively.
When asked about their reasons for preferring crypto pay, more than half of the 800 respondents cited the potential for increased value. Others mentioned income diversification (33%) and financial privacy and security (24%). However, respondents also identified drawbacks that make crypto-based compensation less appealing.
“However, this shift could have its challenges, like volatility, regulatory uncertainty, and limited acceptance. Businesses and employees alike will need to carefully weigh the potential benefits against the risks,” the analysis notes.
Meanwhile, the study also found that one in four U.S. business owners is open to the idea of taking out cryptocurrency loans. It adds that within the next year, one in ten businesses seeking financing will opt for crypto loans instead of traditional loans.
According to the study data, centralized crypto loans are the most favored, with 47% of respondents preferring them. Peer-to-peer crypto loans follow at 37%. Margin loans (8%) and flash loans (11%) are the least favored types of crypto loans.
