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Spending Bitcoins in Bali

December 7, 2018

Have you ever thought about living in a villa in one of the Pacific islands, going to the beach every morning, having a dream job and getting paid in a currency that is accepted worldwide? Well, you are not alone. According to a survey conducted by humans.net, a job recruitment platform, 29 percent of freelancers would rather get paid in crypto over legacy systems and banks.

The platform has commissioned a survey into the payment preferences of American freelancers. Humans.net quizzed 1,100 U.S. citizens to determine their amenability to being paid in bitcoin or altcoins, with 18 percent of respondents expressing a clear preference towards digital currency payments over fiat. Among those questioned were self-employed professionals such as designers, tutors, and developers. I know what you are thinking, these guys are enjoying the sun in Thailand or (insert your favorite holiday destination) while we sit in our offices and yet they still complain about something. Well, the truth is that not only freelancers like the idea of getting paid in crypto.

In addition to the desire of getting paid in crypto, many freelancers are using Cryptocurrencies regularly. According to another Humans.net survey, of the 1100 people surveyed, all of them freelancers living and working in the US, regularly or periodically use crypto, compared with 24% who had never heard of it before. 41% of people had never used crypto before, and obviously, that figure includes the people who had never even heard of it. People cited international payments and lack of intermediaries as the advantages of cryptocurrencies.

As seen in the table above, Crypto ownership has kind of rocky relationship with freelancers. There is no correlation between these numbers with bitcoin price or any market situation, it could be just different approaches to the survey.

Complains from people that spend their days working on MacBooks in some islands in the middle of Carribean islands are not over yet. Freelances agree there are not enough freelancer-friendly options in the blockchain right now. Its true, Coinbase is not the new PayPal, and neither is Bitpay or Binance.

Currently, there are several options with which freelancers prefer to receive their compensation. These include, as mentioned above, online fintech platforms like PayPal and QIWI, remittance platforms like Western Union, and bank wire transfers. Crypterium’s app has the potential to increase the percentage of compensations to freelancers paid in crypto. Other options can be slow and are not always reliable - Crypterium’s solution is to give users an opportunity to send money anywhere they want in a couple of seconds. This is perfect for regular beachgoers in Bali.

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