The crypto industry has a significant number of professionals who work remotely. Given their proximity to this evolving ecosystem, one would have expected that the latter would opt more for remuneration in cryptos. The opposite trend is observed.
Only 3% of teleworkers accept salaries in crypto
The crypto hedge fund Pantera Capital has just published the results of a survey into the remuneration of employees in the crypto sector. It reveals that a large majority of these employees prefer to have their salaries paid in fiat currency rather than in crypto.
Investigation involved a total of 1,600 people covering 77 countries around the world and various sectors of the Web 3.0 ecosystem. Of this total of respondents, only 3% admit to accepting that their remuneration is paid in cryptos.
This figure is extraordinarily low. Especially when you consider that a remarkable 88% of employees in the industry work remotely. This trend can, however, be explained.
Indeed, the fact that a large majority of employees opt more for payments in fiat currency has an existential reason. It is a choice made out of necessity. An obligation justified by the fact that at the start of a career, salaries are used for routine expenses which can only be paid in fiat currency.
A rate that could increase
Nick Zurick, Pantera’s head of talent portfolio, isn’t particularly surprised by these trends. Dynamics which he thinks could be reversed. This, as the crypto industry grows in the right direction.
For the expert, recent developments around the status of XRP are a major step forward. Ditto for the decision favorable to Grayscale regarding its spot Bitcoin ETF application, rejected by the SEC.
He believes these developments bode well for the industry. This is because they could lead to increased job opportunities and wages in the future. For the moment, trends indicate that it is mainly employees in management positions who prefer remuneration in cryptos.
They represent a fifth of those questioned. A perspective which somewhat qualifies the weakness of the enthusiasm around crypto salaries. While highlighting the diversity of compensation structures in the crypto industry.
Receive a summary of the news in the world of cryptocurrencies by subscribing to our new service daily and weekly so you don’t miss anything of the Tremplin.io essentials!
