Cryptos Accepted as Potential Salary Payment by 31% of People in Sage Study

A study by accounting and payment solutions provider Sage showed that at least 31% of the people are willing to receive their salary in cryptocurrency.

A significant number of people is willing to accept salaries in cryptocurrencies, according to a study by integrated accounting, payroll and payment systems provider Sage.

“Cryptocurrencies are now one of the most talked about technological shifts of recent times, with new companies announcing regularly that they are either going to start accepting them for their goods and services, or even going to start paying their employees with them,” Sage said in a statement.

Cryptocurrency Salary - A Sage Infographic

“However, we found that 25% of women are interested in cryptocurrencies, they just may not own any yet,” the study added.

By age group, Sage said millennials are the most interested to receive crypto payments. The age group is seen as the prime mover of this new technology. The study showed that the age group between 25 and 34 is leading the charge in crypto salary payment with 33%. This steadily decreased with the higher age of the respondents.

“During our investigation, we also wanted to find out what percentage of income people would be interested in receiving in this new form of currency. The majority here were on the risk-averse side, with 37% answering between 1 -20% of their income, favoring the majority of their income be paid in fiat money. The numbers again slightly decreased until we approached the higher end of the scale, where a total of 15% answered that they would be interested in 80 - 100% of their income as a cryptocurrency, demonstrating that the higher end of the scale is dominated by people ‘all-in’ on the new wave of currency,” Sage said.

A similar study by LendEDU published in the first quarter of this year showed that an overwhelming majority of millennials support mainstream cryptocurrencies and are more likely to invest in the new digital asset class.