To purchase a house or transfer money to family members abroad. In some cases, you can even order pizza. It is possible to use cryptocurrency to be compensated in any popular cryptocurrency such as bitcoin or ether.
A study conducted in partnership with Workplace Intelligence, a personal finance startup SoFi at Work and research firm Workplace Intelligence found that 84% of respondents felt that their company should be responsible for their financial well being. Only 55% said their company cares.
Crypto is, however, becoming more popular. Over 1,600 HR professionals were interviewed for the study, both in leadership and lower-level roles.
Increased Crypto and NFT Payouts would be a boon for more people
However, the perception that employers don’t care about their employees’ best interests is not uncommon in the industry. A more surprising truth was discovered regarding cryptocurrency and non-fungible tokens.
An NFT is a way to claim ownership of an online piece of content. It can be very valuable or another image.
Another 36% of respondents to the survey said they would like to have part of their pay in crypto. 42% of those surveyed would love to see NFT added by their employer as a reward for their performance.
Another 56% of those surveyed would like to learn more about investing in cryptocurrency and NFTs as part their job.
A large number of workers also stated that they were happy with their benefits. This was a significant factor in their productivity (86%), desire for their employer (86%), job satisfaction (86%), engagement and engagement at work (84%), and ability to concentrate (84%).
According to the report, “Today’s crypto-savvy workers drive new benefits trends.” “An increasing number of workers, especially millennials, are interested in receiving NFTs or being paid in cryptocurrency as a performance reward.
Are Cryptocurrency Payouts Good?
It is not surprising that bitcoin and ether have seen their value rise thousands offold over the past five years. Many would consider receiving some as a salary to be able to tap into the lucrative, but currently expensive, cryptocurrency market.
However, cryptocurrency can be an extremely volatile investment. Anything, from an tweet from Elon Musk, to a speech of regulation, can change its value. A salary entirely paid in cryptocurrency would be very risky.
“Bitcoin does not exist in any real sense,” Dan Weil wrote for TheStreet. Real currencies can be used to buy goods and services, as well as for transactions. Bitcoin can be used to speculate.
The kids want financial security
The SoFi survey reveals that cryptocurrency is not the only thing workers worry about. Half of respondents stated that the pandemic has worsened financial security, while 47% said they are worried that their money won’t suffice if they lose their ability to work.
Around 41% feel their finances control their lives completely, and 51% think they wouldn’t be able handle an unplanned financial emergency.
Crypto and NFTs are becoming more popular as a way for investors to make a lot of money.
According to the report, three out of four workers are financially stressed. This feedback was loud and clear from all age groups, income levels, and industries.