According to a recent survey conduct by a human resource start-up company, ChronoBank two third of crypto investors are disappointed with the current payment mechanism and they want to get their salaries and other benefits in the form of bitcoin and altcoins, despite the price instability.
HR start-up ChronoBank has conducted a survey of 445 crypto enthusiasts from Australia, United States, Russia, and other countries. 92% of respondents were male, 75% employed, and 40% were aged between 25 and 35. The results of the survey were amazing. 66% of the participants said that they will like to receive their salaries in cryptocurrencies while only 30% thinks that in the future their employers will switch to digital assets to pay salaries. When it comes to bonus distribution 83% of respondents were willing to receive bonus in the form of cryptos.
Half of the respondents believe that getting paid in cryptocurrencies would make them spend less. 60% of respondents aged 18 to 24 stated that they will not use their digital assets for any transaction because there are high chances that the value of digital assets will grow at a rapid pace. When it comes to taxation, 52% of the respondents are willing to pay their taxes by their crypto revenue. 60% of U.S. respondents are ready to pay their taxes in cryptos while for Russia it is just 30%.
According to the chief executive officer of ChronaBank, Sergei Sergeinko cryptocurrency payment options will not only beneficial for the employees but also for the employers. Crypto investors are disappointed with the current payment mechanism because their employees are not willing to pay salaries in digital assets. 72% of the respondents said they will prefer to work with an employer who has the salary payment option in digital assets. When that much of the employees want to receive salaries in cryptocurrencies it is better for the employers to adopt the technology as soon as possible in order to attract and retain the best talent.
There are legislative uncertainties in the crypto ecosystem. Respondents from all countries believe that they are not aware of the recent developments of regulatory requirements of crypto receiving and handling. According to Sergeinko, there are ongoing changes in the legislation of cryptocurrencies and the investors are unaware of the recent developments and innovations. 50% of the respondents do not even know whether salary payment in digital assets is allowed in their countries or not.
Despite the uncertainty in the regulatory environment and price instability, most crypto investors are in favour of the crypto payment system. In future blockchain technology will be used as a secure payment processing method and will positively affect the economic growth.