Survey: 38% of Freelancers Make Use of Cryptocurrency on a Regular Basis



Last Updated: December 7, 2018 at 4:41 AM EST
Freelancers Payment Cryptocurrency

Humans.net recently carried out a survey with the participation of 1,100 freelancers who reside and carry out their occupation in the US and 385 of them, which is 38% of the total number, agreed that they make use of cryptocurrency from time to time or regularly. This was different from what 21% of the total freelancers said, as they admitted to having no previous knowledge of cryptocurrency. The percentage of people who had never made use of cryptocurrency is 41%, and that figure also contains people who were hearing of cryptocurrency for the very first time.

The people surveyed made reference to the ability of cryptocurrency to perform international payments as well as the absence of intermediaries in the process of payment as its advantage.

Digital freelancers can be referred to as the handyman for all digitally related tasks. Also, skilled workers like it better if they are paid cash for a lot of reasons. One of the reasons is that the business relationship between the workers and their clients is not always solid which makes receiving payment for completed jobs a tough thing, despite the existence of sites like Humans.net. Cryptocurrency was created to make transactions trustless so that there won’t be any dispute during payment. Once a person makes a payment to the receiver, the receiver will be notified and can easily access it with their own private key.

Freelancers Writer Cryptocurrency

As the previous report mentioned, 29% of people surveyed showed interest in receiving every of their pay or part of it in cryptocurrency. Today, if someone wants part of their salary to come in the form of Bitcoin from any employer, there exist companies that can make that happen like Bitwage.com. A portion of their wage will be deposited as fiat money in their bank account while the rest will arrive as Bitcoin. This system of receiving one’s salary is growing in demand, and there is a chance that popular freelance platforms will adopt it for their use.

The negative aspect of this is that during the purchase of cryptocurrency, the freelancer has little influence concerning its execution. If there is a price increase at the time of purchase, the freelancer is paid less crypto. But through beta testing, these problems can be addressed.

humans.net Survey

The business model introduced by Humans.net, a new member in the freelance industry, has altered the business of freelancing for the better. Sites such as UpWork and Fiverr charge shocking rates. Fiverr collects the rate of 20% from their workers and on the other hand, UpWork places charges on all activities on their site. The blockchain technology, which is peer-to-peer, exposes the ridiculousness of such arrangements.

Humans.net plans to carry out another survey the moment their platform achieves 1 million users, but from the just concluded survey, it can be seen that freelancers are yet to have adequate options on the blockchain. Bitpay and Coinbase cannot be referred to as the new PayPal and the standard crypto wallet can’t either. Waves, the new mobile wallet, is making efforts to address this issue and they are also tasked with the responsibility of merging with platforms, but unfortunately, their attention is fixed on the crypto exchange market which is already congested.