According to Payroll and Compliance provider Deel’s 2022 State of Hiring Report, cryptocurrencies account for 5 percent of all monthly payroll withdrawals globally.
The survey, which collected salary payments from more than 100,000 contract workers around the world, found that crypto payments are most attractive to three main groups of people: those who use cryptocurrencies as a hedge against local currency instability, and those who use cryptocurrencies as a hedge against local currency instability, and those who have an outdated local banking system that affects wage payments. people, and people who add cryptocurrencies to their portfolios.
Countries in Europe, the Middle East and Africa (EMEA) and Latin America are more likely to be in the first two scenarios, the survey showed. Latin America accounted for 67% of cryptocurrency withdrawals, and the EMEA region accounted for 24%.
Bitcoin remains the most popular crypto payment method among Deel’s surveyed customers, accounting for 47 percent of currency withdrawals this year, followed by USDC at 29 percent.