Almost 1/4 of Belgian employees are willing to receive crypto-salary

[PawGo]

A recent study by iVox commissioned by Partena Professional shows that 22% of the employees surveyed are open to the idea of ​​receiving part of their wages in cryptocurrency. Within that group, especially men (30% of the total number of men surveyed) are willing to be paid partly in cryptocurrency. In the category of employees under the age of 35, 35.9% are in favor of this idea. This age group is most positive about a salary in cryptocurrency.

Currently it is not allowed, as cryptocurrency is not recognized as a legal tender. The same rules is for base salary and for bonuses - even with agreement between employer and the employee.

More details: https://hrmagazine.be/nl/posts/een-op-vier-bereid-om-stuk-loon-te-krijgen-in-cryptogeld

[mk4]

It seems like the article didn't mention the sample size of the survey (I'm just using Google translate) so I'm skeptical. I don't know — but in the current market situation(mostly bearish), 22% seems quite higher than what I'd expect.

[PawGo]

It seems like the article didn't mention the sample size of the survey (I'm just using Google translate) so I'm skeptical. I don't know — but in the current market situation(mostly bearish), 22% seems quite higher than what I'd expect.

I have found in the other source that it was around 1k people, possibly error 3,02%.
There is an article on Partena page (some more details included): https://www.partena-professional.be/nl/nieuws/22-van-de-werknemers-staat-open-voor-een-gedeeltelijke-verloning-cryptogeld

[Vaskiy]

Long back itself Belgian MP Christophe De Beukelaer showed interest in receiving his salary in terms of Bitcoin. As things weren't working fine within the country, he used to convert his salary in Euro to bitcoin using the popular exchange Bit4You.

The country have got good number of cryptocurrency users and the survey shows how interested are the people in receiving their regular salary in bitcoin. Few companies around the world pay in Bitcoin and this helps the employees in transferring to home country without depending on third party services.

[pawanjain]

A recent study by iVox commissioned by Partena Professional shows that 22% of the employees surveyed are open to the idea of ​​receiving part of their wages in cryptocurrency. Within that group, especially men (30% of the total number of men surveyed) are willing to be paid partly in cryptocurrency. In the category of employees under the age of 35, 35.9% are in favor of this idea. This age group is most positive about a salary in cryptocurrency.

Currently it is not allowed, as cryptocurrency is not recognized as a legal tender. The same rules is for base salary and for bonuses - even with agreement between employer and the employee.

More details: https://hrmagazine.be/nl/posts/een-op-vier-bereid-om-stuk-loon-te-krijgen-in-cryptogeld

That is what I expect too. If I were given this option I would be more than happy to receive a part of my salary in crypto.
This is because we always have the option to convert it into fiat via exchange and the rest of the time we can simply hold it to maximize the returns.
I wish there was this option in the company I work for too but I guess we will have to wait for a long time to see this happening in real time.

[kryptqnick]

The percentage rate is pretty high if it's truly representative of the population. I couldn't fully understand whether the survey was only among employees of one specific company or not, but it seemed this way, and in that case, it's likely not representative. Then again, PawGo says the survey was of a thousand people with a 3% margin of error, which does sound like a representative poll.
Also, the article says those who are interested in being paid in cryptos would invest long-term or just use as savings (at least from how I understood google translated version of it). That's not a typical usage of a salary, IMO, as people usually work because they need money for their expenses, not investments. Or perhaps the question was (or was interpreted in such a way) about getting a part of the salary in cryptos, then it would make more sense why people see it as something to save or invest.

[ChiNgadOr]

A recent study by iVox commissioned by Partena Professional shows that 22% of the employees surveyed are open to the idea of ​​receiving part of their wages in cryptocurrency. Within that group, especially men (30% of the total number of men surveyed) are willing to be paid partly in cryptocurrency. In the category of employees under the age of 35, 35.9% are in favor of this idea. This age group is most positive about a salary in cryptocurrency.

Currently it is not allowed, as cryptocurrency is not recognized as a legal tender. The same rules is for base salary and for bonuses - even with agreement between employer and the employee.

More details: https://hrmagazine.be/nl/posts/een-op-vier-bereid-om-stuk-loon-te-krijgen-in-cryptogeld

That is what I expect too. If I were given this option I would be more than happy to receive a part of my salary in crypto.
This is because we always have the option to convert it into fiat via exchange and the rest of the time we can simply hold it to maximize the returns.
I wish there was this option in the company I work for too but I guess we will have to wait for a long time to see this happening in real time.

There are some persons who will be very interested in earning through cryptocurrency especially now that the market is down and those who can hold their coins till the next bull season will be able to earn more and make a lots of profits from the market. The market is very big enough to get us what we want only if we are very patient to see ahead if us.
It will be a big opportunity if they finally start earning in Bitcoin especially for those that had been longing to earn their wages or salaries in Bitcoin.

[Ultegra134]

As mk4 already mentioned, the article doesn't disclose the sample size, which is a vital number when making such bold claims. If we suppose that this survey is up to statistical standards, 22% is quite a significant percentage.

Honestly, if I had the option to be paid in Bitcoin, I'd be quite skeptical to accept it. Your monthly salary is supposed to cover your expenses, settling for something that is volatile doesn't sound like a good idea. I'd rather set aside a X amount of money which goes towards investing.

[jrrsparkles]

A recent study by iVox commissioned by Partena Professional shows that 22% of the employees surveyed are open to the idea of ​​receiving part of their wages in cryptocurrency. Within that group, especially men (30% of the total number of men surveyed) are willing to be paid partly in cryptocurrency. In the category of employees under the age of 35, 35.9% are in favor of this idea. This age group is most positive about a salary in cryptocurrency.

Currently it is not allowed, as cryptocurrency is not recognized as a legal tender. The same rules is for base salary and for bonuses - even with agreement between employer and the employee.

More details: https://hrmagazine.be/nl/posts/een-op-vier-bereid-om-stuk-loon-te-krijgen-in-cryptogeld

If they are interested in receiving part of their salary like 20 to 30% then its good because for people who like to save can avoid conversion fee to trade their fiat into crypto but if they are ready to get paid completely in bitcoin then it may do more bad things than good for bitcoin because obviously people will sell their salary for fiat then only they can spend it for their needs which will create great manipulation in the bitcoin price at the salary time so this will give chance for rich people to get richer by buying them cheaper and selling them higher for every salary periodic table.

So first we need the infrastructure to spend bitcoin before talking about getting paid in bitcoin with our full time job.

[BIT-BENDER]

It's understandable infact, since Bitcoin and crypto-currency isn't government owned or under governmental policies in some countries that hasn't restricted it, taking salaries in Bitcoin and Crypto-currency has great benefits especially in this global recession and inflation. It would be difficult for the value of Bitcoin to fall and remain their for a very long time, but some currency like the one of my nation quickly gets devalued and always take longer time to bounce back and some time it doesn't.

[stomachgrowls]

A recent study by iVox commissioned by Partena Professional shows that 22% of the employees surveyed are open to the idea of ​​receiving part of their wages in cryptocurrency. Within that group, especially men (30% of the total number of men surveyed) are willing to be paid partly in cryptocurrency. In the category of employees under the age of 35, 35.9% are in favor of this idea. This age group is most positive about a salary in cryptocurrency.

Currently it is not allowed, as cryptocurrency is not recognized as a legal tender. The same rules is for base salary and for bonuses - even with agreement between employer and the employee.

More details: https://hrmagazine.be/nl/posts/een-op-vier-bereid-om-stuk-loon-te-krijgen-in-cryptogeld

Good thing if it would be approved but since its been said that it will really be needed for it to be legal tendered then those employees would really be just waiting for it to be allowed.
Doesnt matter if they would received crypto salary or not then it will always boils down on approval.If that 22% is really that eager then its just not a problem for you to
buy bitcoin out of your fiat salary.Its never been a problem if you are really that eager when it comes to that.Any news that related to this
is always been positive. Recognition never stops although we are on a bear market as of this moment but still these kind of moment and news
do really give out some boost up.

[goldkingcoiner]

Currently it is not allowed, as cryptocurrency is not recognized as a legal tender. The same rules is for base salary and for bonuses - even with agreement between employer and the employee.

I am not sure about Belgium but in my European country, if a boss wanted to pay you in cryptocurrency, he could. But if he does, he might, depending on the situation be forced to pay double. Because, as you said, cryptocurrency is not recognized as legal tender. But I am no lawyer so I have no idea how to set that up in a way that works for everyone. Personally, I would prefer to be paid in Bitcoin. That way you can avoid your money coming anywhere near a bank. And if you were planning on investing in Bitcoin anyway (like me),  then whats the problem?

Everyone should be free to decide if they want fiat or crypto. The government should have no say in whether I get paid in silver coins or Euros or Dollars or strawberries.
That decision is up to me and my contractual partner (Boss).

Although the boss should not be allowed to decide for you, I should add.

[Die_empty]

A recent study by iVox commissioned by Partena Professional shows that 22% of the employees surveyed are open to the idea of ​​receiving part of their wages in cryptocurrency. Within that group, especially men (30% of the total number of men surveyed) are willing to be paid partly in cryptocurrency. In the category of employees under the age of 35, 35.9% are in favor of this idea. This age group is most positive about a salary in cryptocurrency.

The rate of acceptance and adoption of bitcoin by the young generation is proof that it would be the currency of the future. The research showed that those in favor of this idea are employees between the ages of 35 and below, which is a clear indication that when the older generation of political office holders are replaced in the future by the younger ones, bitcoin would be generally adopted. This is because the younger generation tends to understand the operations of bitcoin and others more than the skeptical older generation.

Also, the article says those who are interested in being paid in cryptos would invest long-term or just use as savings (at least from how I understood google translated version of it). That's not a typical usage of a salary, IMO, as people usually work because they need money for their expenses, not investments. Or perhaps the question was (or was interpreted in such a way) about getting a part of the salary in cryptos, then it would make more sense why people see it as something to save or invest.

If it is true that those interested are required to invest a long time in crypto for them to access the payment option, then it is not proper. People should be given the freedom to choose what they want to do with their earnings. Investing in bitcoin and other cryptocurrencies might be ideal but it should be done voluntarily.

[tbct_mt2]

It is a good start but they (employees) will have to go and experience themselves from
- Being ready to receive salary in cryptocurrency
- Actually receive it for their salary
- Actually experience how to use crypto-salary to cash out or to pay for things in their lives
- Experience increase or decrease of salary value because of the cryptocurrency market volatility

After a few months, they will have clear thoughts on whether they would like to continue to receive their salary in cryptocurrency or want to get in cash.

[noorman0]

So regulation affects sample results. Of the total number of samples who agreed to only make cryptocurrencies an investment instrument even though basically some of them can be spent on the spot through instant exchanges. I don't think this is a secret anymore, except for the question that the company offers crypto payments as a held investment (in the form of insurance, or some other less liquid form).

[Don Pedro Dinero]

Well, I'm not that surprised. I'm sure that if the same survey is done again, in 10 years' time in that area, the percentage of people will be higher.

Especially young people know what cryptocurrencies are, if they don't already have some. It is therefore not unusual for them to agree to hypothetically be paid part of their salary in cryptocurrencies.

This part of the salary is important, because it is most likely that the part they would be paid in cryptocurrencies would be used as an investment, doing HODL, at least for a while, but they will need the rest of the salary in fiat for their monthly expenses.

[mk4]

I have found in the other source that it was around 1k people, possibly error 3,02%.
There is an article on Partena page (some more details included): https://www.partena-professional.be/nl/nieuws/22-van-de-werknemers-staat-open-voor-een-gedeeltelijke-verloning-cryptogeld

I'm not super knowledgeable when it comes to statistics, but a sample size of 1000 is pretty small for the data to be close to being accurate. I'd say it's enough data for it to be interesting, but not something to take seriously.

[PawGo]

I'm not super knowledgeable when it comes to statistics, but a sample size of 1000 is pretty small for the data to be close to being accurate. I'd say it's enough data for it to be interesting, but not something to take seriously.

Yrs, we may always have doubts like that, as we do not know how the group was selected. But: AFAIK Partene is kind of "insurance" company, so they know very well if you are employee or self-employed, in which age group you are etc, so I believe they could prepare a sample group very well.

[Lucius]

I don't see that this news is something that points in the direction of people understanding what Bitcoin is, or that they want to be paid for their work in the same. From what is written in this thread, the article does not specifically mention Bitcoin, but cryptocurrencies in general, which means that an employee could also accept a stablecoin, or one of the top 100 altcoins.

For those who have not yet understood how PR works, we do it for the companies mentioned here in the context of those who did this survey. 1000 or even 5000 people in a country that has 11.7 million people is a drop in the ocean of opinion and it is nothing more than a classic manipulation in a series of those that we could read recently about how many Canadians will invest in crypto this year (30%) or even more US citizens. If these numbers were at least approximately correct, today 1 Bitcoin would be worth more than $100k.

[lizarder]

I don't see that this news is something that points in the direction of people understanding what Bitcoin is, or that they want to be paid for their work in the same. From what is written in this thread, the article does not specifically mention Bitcoin, but cryptocurrencies in general, which means that an employee could also accept a stablecoin, or one of the top 100 altcoins.

Seems like a pretty good step taken by the company, but I also randomly tried to browse and study news content, where there is no more specific mention of bitcoin.
That means it's still very open that companies will pay employee salaries using stablecoins or the top 100 altcoins as you described.
This is also not profitable for employees, because the salary they must receive with clear figures, changes when the coin price drops, it is different if payments are made in bitcoin, while Altcoins are still very volatile and not profitable for employees.

For those who have not yet understood how PR works, we do it for the companies mentioned here in the context of those who did this survey. 1000 or even 5000 people in a country that has 11.7 million people is a drop in the ocean of opinion and it is nothing more than a classic manipulation in a series of those that we could read recently about how many Canadians will invest in crypto this year (30%) or even more US citizens. If these numbers were at least approximately correct, today 1 Bitcoin would be worth more than $100k.

Thus the accumulated population does not fully represent the people there, it only involves some people who are members of the company or outside it.
Companies should encourage bitcoin to be more specific in paying employees salaries, so that their financial strength can increase in the next five years, thus this company revolution will greatly develop sensitivity and guarantee of economic growth within the company's scope.
It will look good and more and more companies will adopt these ways for economic development

[Doan9269]

Currently it is not allowed, as cryptocurrency is not recognized as a legal tender. The same rules is for base salary and for bonuses - even with agreement between employer and the employee.

The number of those in support for it is lower to the expected value and also we could see that adoption rate varies with location and some countries have gone widely in using bitcoin as their digital asset and for acceptance of payment while still yet, some haven't gone this far with it but if bitcoin is their major target here then there's more likely possibility for a change sooner with this decision and it doesn't matter weather bitcoin is a legal tender or not as long as it remains an acceptable means for payment, store of value and asset.

[romero121]

People into cryptocurrency usage have increased. This can be seen much on its usage on real time. Such a transition isn't experienced all around. Slowly companies have begun to pay salary to its employees in bitcoin. The inflation all around and the growth of cryptocurrency have made more people choose salary in terms of Bitcoin even though the country haven't announced it to be legal tender.

[NeuroticFish]

First of all, 1/4 of those under 35 is not what your misleading title tells (also 22% is closer to 1/5 than to 1/4)
Second, as mk4 said from start, the number of questioned people does matter and I think that the number was small, hence the result is wildly inaccurate.
Then, it doesn't tell when was the study made and I find this also important. With every month passing we seem to be closer to a recession and in such cases people will no longer be eager to invest.
The crypto winter also tends to kill people's appetite for investments (which is wrong, but this is how psychology tends to work).

[Franctoshi]

This is fine for the industry and also for Belgian employees to earn salary in the most valuable digital currency , and this shows how interested that people are becoming about joining Bitcoin community, Right now I do think that Bitcoin is entering the phase of mass adoption, where government and banks would have no choice than to start dancing to the tones and the demand of people to get involved with Bitcoin in one way or the other , in regards to investment , trading and owing a Bitcoin as asset.

Even as at in this bear market, look at in recent news how many banks that are getting involved to offer their customers access to Bitcoin due to customers demand.

[DdmrDdmr]

The sample size is statistically correct (see for example https://www.surveymonkey.com/mp/sample-size-calculator/), though it always seems a marvel how such a low amount of people can represent the whole population of a country in a survey. The most important factor, in addition to the sample size itself, is the adequate selection of the candidates to avoid biased answers (i.e. gender, age, geographical distribution, education, randomness, and so forth). Although the footnote on Pantera’s site claims that the sample is representative in those terms, there is no evidence (i.e. description of sample distribution by these factors, method of selection, method of survey).

Subjectively, the 22% figure seems like a stretch to me, and I’d be surprise if there wasn’t any bias in the randomness of the sample and/or survey method (i.e. if it were to be online, that would cause a bias per se).

One thing to stress is that the survey really indicates 22% of Belgian employees are ready to accept partial payment in crypto. I stress the word partial, which is a relatively open concept. I’m pretty sure that, were there to be a subsequent question querying percentage ranges, the results would be more prone to be in the range of the lowest percentages.

[taufik123]

It is a good start but they (employees) will have to go and experience themselves from
- Being ready to receive salary in cryptocurrency
- Actually receive it for their salary
- Actually experience how to use crypto-salary to cash out or to pay for things in their lives
- Experience increase or decrease of salary value because of the cryptocurrency market volatility

After a few months, they will have clear thoughts on whether they would like to continue to receive their salary in cryptocurrency or want to get in cash.

Those who agree to receive a salary in cryptocurrency may simply want to know what it's like to use cryptocurrency, but not fully to pay for their needs using crypto.

But I'm sure once they receive their salary in crypto, they will cash it out to Fiat because of the high volatility which results in the devaluation of the Fiat currency when the market is bearish. and some of them try to survive until the price goes up. Salaries in crypto cannot be a full investment, because there are still basic needs that they must meet with fiat money.

This is indeed a good start, but will be a bad ending for those who do not understand or do not understand the current state of crypto. Hope that the company also provides education about cryptocurrencies, so that their employees are aware of the benefits and risks of receiving a cryptocurrency salary.

[Flexystar]

It seems like the article didn't mention the sample size of the survey (I'm just using Google translate) so I'm skeptical. I don't know — but in the current market situation(mostly bearish), 22% seems quite higher than what I'd expect.

I have found in the other source that it was around 1k people, possibly error 3,02%.
There is an article on Partena page (some more details included): https://www.partena-professional.be/nl/nieuws/22-van-de-werknemers-staat-open-voor-een-gedeeltelijke-verloning-cryptogeld

If we even consider exponential results of this survey in the multiplier of 1000, the number is quiet lesser and not that much positive hope for the Belgium people who are interested in such process change. There comes the hope when at least more than 50% and above population from particular nation is surveyed either over Internet or manually via form submissions. Those are great error free results!! They mean really something.

For example, if all the corporates throughout Belgium come together to perform survey like this then it could be something of charm to consider for future prospects. This study mentioned above is really ok ok.

[abel1337]

It is a good start but they (employees) will have to go and experience themselves from
- Being ready to receive salary in cryptocurrency
- Actually receive it for their salary
- Actually experience how to use crypto-salary to cash out or to pay for things in their lives
- Experience increase or decrease of salary value because of the cryptocurrency market volatility

After a few months, they will have clear thoughts on whether they would like to continue to receive their salary in cryptocurrency or want to get in cash.

Those who agree to receive a salary in cryptocurrency may simply want to know what it's like to use cryptocurrency, but not fully to pay for their needs using crypto.

But I'm sure once they receive their salary in crypto, they will cash it out to Fiat because of the high volatility which results in the devaluation of the Fiat currency when the market is bearish. and some of them try to survive until the price goes up. Salaries in crypto cannot be a full investment, because there are still basic needs that they must meet with fiat money.

This is indeed a good start, but will be a bad ending for those who do not understand or do not understand the current state of crypto. Hope that the company also provides education about cryptocurrencies, so that their employees are aware of the benefits and risks of receiving a cryptocurrency salary.

I think they will not agree with receiving crypto salary if they don't understand it or have no experience to it. I believe that a worker will not risk his salary for something so speculative unless he understand crypto well. If I were put in the situation that we are given a choice to receive a half crypto salary, I will still choose whole fiat salary given that I will have more choices on better buying price or entry price to buy some crypto. If you are earning a crypto salary, Most likely the company will not care what is the current price of the crypto you will be receiving. If it's a stable coin, I will change my mind.

[taufik123]

-snip-
 If I were put in the situation that we are given a choice to receive a half crypto salary, I will still choose whole fiat salary given that I will have more choices on better buying price or entry price to buy some crypto. If you are earning a crypto salary, Most likely the company will not care what is the current price of the crypto you will be receiving. If it's a stable coin, I will change my mind.

This can be a good choice, but those who are not familiar with crypto, they will not understand whether the current price is good or not. and what becomes very important is education which must come first before giving crypto salaries. Companies certainly know what they are doing and are not curious about crypto prices at the time.

But receiving a salary using stable coins is also still a risk. Did you not learn from the incident that UST is a stablecoin and is now a shitcoin. It will still be a risk although there is little chance if USDT, USDC or BUSD becomes a shitcoin.

still needs some research on trying to pay salaries using crypto, and this is also hampered by the regulations that are set.

And it's not just the Belgians who are trying to apply for a salary using bitcoin or other crypto assets. In the past few years many exchange companies implemented crypto salary options and some athletes professionals and workers in other fields are trying to ask for a salary in crypto.

[buwaytress]

With inflation reaching double figure percentages in the EU, while the euro flailing against the US dollar, probably not surprised people are willing to look for alternatives to store value... long term. I get all my income in BTC anyway, so it's not the same but if I were getting regular fiar, I'd receive part of my salary in BTC, the part I'd want to save. Save fees/hassle on DCA buying if that's their intent.

[imamusma]

A recent study by iVox commissioned by Partena Professional shows that 22% of the employees surveyed are open to the idea of ​​receiving part of their wages in cryptocurrency. Within that group, especially men (30% of the total number of men surveyed) are willing to be paid partly in cryptocurrency. In the category of employees under the age of 35, 35.9% are in favor of this idea. This age group is most positive about a salary in cryptocurrency.

I don't know how many workers passed the survey because of course that would determine their results and interests. I did not find the number of respondents who filled out the questionnaire which might make me think the number is very limited above 100-1000 workers. But of course it's good because based on the results, apparently they seem to know that cryptocurrency is a means of payment or currency.

Currently it is not allowed, as cryptocurrency is not recognized as a legal tender. The same rules is for base salary and for bonuses - even with agreement between employer and the employee.

Yes, the problem is regulation. So now the desire to get paid salaries in crypto will be hindered by government regulations. Same thing about me, crypto is not legal tender in my country.

[TimeTeller]

A recent study by iVox commissioned by Partena Professional shows that 22% of the employees surveyed are open to the idea of ​​receiving part of their wages in cryptocurrency. Within that group, especially men (30% of the total number of men surveyed) are willing to be paid partly in cryptocurrency. In the category of employees under the age of 35, 35.9% are in favor of this idea. This age group is most positive about a salary in cryptocurrency.

I don't know how many workers passed the survey because of course that would determine their results and interests. I did not find the number of respondents who filled out the questionnaire which might make me think the number is very limited above 100-1000 workers. But of course it's good because based on the results, apparently they seem to know that cryptocurrency is a means of payment or currency.

Currently it is not allowed, as cryptocurrency is not recognized as a legal tender. The same rules is for base salary and for bonuses - even with agreement between employer and the employee.

Yes, the problem is regulation. So now the desire to get paid salaries in crypto will be hindered by government regulations. Same thing about me, crypto is not legal tender in my country.

If it is not yet legal tender in their country, but it is a private company, maybe it depends on the arrangement with the employees and employer.
They need to look at the acceptable compensation for the employees of a private company because I believe they can adjust it according to their own protocols.
In any case, this survey shows the interest of some employees to receive crypto as part of their salary and they are open about it.
If they will conduct short courses about crypto, this number may still increase as they learn more about the usage of crypto and how it can be of payment method.

[bocyaj]

It’s very long expected one from various countries,after the pumpin the bitcoin price to 50k dollars.So this creates a good mindset to the people like,it will increase to the maximum value to 100k dollars.The pump of bitcoin was huge reason for the salary concept.When the people with good knowledge in trading should keep their investment in bitcoin for the long run.With some period of time,the price of bitcoin will be back to high value.Holding of old bitcoin is essential one for the future generation to gain something from it.