Cryptocurrency seems to be a perfect solution for freelance workers, who rely on multiple payments from various clients on an ad-hoc basis, often internationally, any time of the day.
By being a freelancer, you are working for yourself, which brings with it many advantages and disadvantages too. Traditionally, receiving payments from international clients for ad-hoc work would be expensive and often not very worthwhile. The rise of cryptocurrency has however made way for a new revolution within freelancer circles, all of whom are turning to the likes of Bitcoin to receive payment for their work.
According to CCN, a recent study has been carried out by Humans.net that explored the payment choices made by freelancers living and working within the United States. The study surveyed 1,100 freelancers and found that 38% of the sample all regularly use cryptocurrencies when making and receiving payments for their work. 24% of the sample had never heard of cryptocurrency before, so obviously this revolution is within a small freelancing demographic, but still, the findings are interesting.
Of the 38% who use cryptocurrencies, the study found the following cited as some of the main advantages of using cryptocurrency as a freelancer:
13% stated crypto is advantageous for international payments.
12% stated that a lack of a middleman is advantageous.
11% stated that cryptocurrency is more secure.
8% stated that low commission is an advantage.
9% stated that cryptocurrency is more transparent than FIAT.
34% is quite a large population given the scale of the sample used in this research, though we do think over the next couple of years the uptake of cryptocurrency within freelance work will grow. According to CCN:
“It would seem the lesson from this survey is that there are not currently enough freelancer-friendly options in blockchain. Coinbase is not the new PayPal, and neither is Bitpay, and certainly neither is your standard crypto wallet. The new Waves mobile wallet goes a long way to this end, but now the onus is on Waves to establish integration with platforms, and unfortunately, they remain focused on the over-saturated digital currency exchange market.”
Indeed, as more suitable products enter the industry, adoption from freelancers and other similar sorts of business will grow, perhaps within this survey, Humans.net have found a new and very specific demographic that blockchain innovators should now be targeting?