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

[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.