38% of U.S. Freelancers Use Cryptocurrency – New Crypto Study

Freelancers in the United States seems to be well acquainted with cryptocurrency and blockchain according to studies that have shown these skills as the fastest growing on the popular freelance platform, UpWork. But this interest by freelancers in blockchain goes beyond skills to the actual use of cryptocurrency, a major aspect of blockchain use cases.

Humans.net, a relatively new freelance hiring platform, recently conducted a cryptocurrency knowledge survey involving freelancers living or working out of the United States.

The Crypto Survey

For it survey, Humans.net sampled responses from 1100 U.S.-based freelancers on its platform. It discovered that 385 freelancers (38 percent of the study group) claimed they use cryptocurrency albeit on varying frequency. On the flip side, 41 percent of participants said they have not used cryptocurrency among whom include 24 percent of the study participants who have never heard of it.

Advantages of Cryptocurrency Use  

As part of its survey, Humans.net enquired after the major benefits freelancer gained by using cryptocurrency which shaped their preference. According to the results, freelancers used cryptos mainly for cross-border payments. At least 13 percent of respondents said they benefited from cryptos like bitcoin [BTC] for international transactions.

Other benefits arose from the decentralization cryptocurrency and blockchain in general brings. Participants pointed to Zero middlemen (12 percent), Security (11 percent), Low Commission (8 percent), and transparency (9 percent) as major upsides of cryptocurrency use.

Crypto Knowledge Is Growing

From the survey, 29 percent of the freelancers said they will accept all or part of their payment in cryptocurrency. Before last year, this would most likely not have been the case but a lot has happened since then. The nature of the freelance market and activities seemingly encourage the use of cryptocurrency and blockchain in general.

Receiving payments at times prove difficult on freelancing platforms like UpWork and Fiverr with strict escrow policies and fees that can reach 20 percent. But with blockchain-powered solutions, there is no need for ‘trusted’ parties and the high fees. In an interview with crypto news outlet Bitcoinist, Humans.net founder Vlad Dobrynin explains that the platform intends to use blockchain technology, Artificial Intelligence and DNA verification to transform how these work relationships are forged.

Skrill, one of the major payment processors, have included cryptocurrency options as part of its services, and it is only a matter of time for freelancing platforms to do the same; humans.net has set a tentative target of 2019 for this.

Solomon Sunny is the market reporter for Smartereum, one of the global leaders in Ethereum, blockchain and currency news. He produces technical price updates on digital currencies and writes recent developments about blockchain.


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