Crypto salaries are a reality in America. That is, the new way of paying workers' salaries with cryptocurrencies. Athletes, politicians and freelancers are some of the professionals who are benefiting from cryptocurrencies.
The figures confirm that from November 2020 to today there has been a 10% monthly increase in demand for these types of payments," said Dan Westgarth, Chief Operating Officer at Deel.
Although different functions still do not allow cryptocurrencies to replace bank accounts, it is a change that has been increasing. In the second half of 2021, Latin America was the region where the most withdrawals were made with cryptocurrencies in the world, with a 52, according to Deel.
"Receiving payments in bitcoin or other well-established currencies such as ethereum, litecoin or bitcoin cash - among the more than 5,000 that currently exist - is attractive to many workers because it offers almost instant transfers and low fees, contrary to international transactions in the system. Swift that is used by thousands of banks around the world."
One of the benefits of crypto salaries is that transactions are made directly between both parties involved in a secure way. In these cases, do not chump change any financial institution as an intermediary and the value is not subject to the country's monetary policies, according to the expert.
Along with this, cryptocurrencies have the possibility of increasing their value. "A person could end up living much more than their bridgehead salary if the value of the currency rises, making the 'crypto salary' an investment or savings option. Of course, for the same reason, that payment could have the potential to depreciate over time.
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