The use and adoption of cryptocurrencies have boosted the economic activity of many entrepreneurs, connecting people throughout the world without the obstacles that exist due to the traditional fiat system. One of the segments that has benefited most from cryptocurrencies is that of freelance workers, for whom now it is much easier to offer their services to customers around the world obtaining immediate, transparent and safe remuneration.

According to a study published by Human.net, about 29% of more than 1100 freelancers registered on the platform would accept crypto as financial compensation for their services.

It is important to note that the majority of Humans.net users are residents of the United States, so the data reflect an important reality of the American population. Likewise, 825 people (75% of those surveyed) said they had heard about crypto and were familiar with the subject.

Cryptocurrencies Help Freelancers

The poll shows that the majority of interested individuals comment that the main advantage if cryptocurrencies is that they facilitate international payments. Lack of middlemen is in second place while a preference for security is in third place. Less popular were the “low commission” and “transparency” options. 11% consider that cryptocurrencies have all the above advantages.

A Growing Trend

It is also important to note that other similar platforms have carried out studies that show the growth in the acceptance of crypto coins by workers. According to Humans.net, the more knowledge is spread about crypto and blockchain technologies, the higher will be their acceptance:

“Taking into account a similar study by Lendedu in September 2017, the number of cryptocurrency owners has almost increased threefold in a year: 14% in 2017 compared to 38% in the Humans.net recent poll.

This is a fairly dramatic increase, well over 50%, but that said we have to point out that, in both cases, the results reflect the knowledge and understanding of specific pool of respondents when compared to the general population.”

The demand for work related to the crypto industry has dropped a little after last year’s hype. At the end of 2017, a study by Upwork showed that the skills with the highest growth and demand were those related to the term “Bitcoin”. However, by 2018, the outlook is very different.

The cryptocurrency craze is only just beginning

Bitcoin (#1), the most searched Google term in 2017, was the fastest-growing skill in Q4. This was the same time period it hit record high after record high price and reached an all-time high of $19,783 (December 17, 2017). Since its peak, the price has dropped by more than 60 percent; but there is still demand for experts familiar with bitcoin as many look to develop their own cryptocurrencies. Some who bet on bitcoin early like Stripe have ended bitcoin support, with customer desire to accept the currency decreasing; and Facebook is banning ads for bitcoin. Attention is turning towards blockchain, the technology behind bitcoin and other cryptocurrencies. Gartner included blockchain in their recent Hype Cycle for Emerging Technologies as they believe it will lead to a reformation of entire industries long-term; and while enterprises are still deciding how to navigate this technology, reputable universities such as Stanford University, University of California at Berkeley and Massachusetts Institute of Technology (MIT) have already added relevant courses to their course lists.

By late 2018 this skill is not even mentioned.

Although the need for skills has changed, there is no doubt that the acceptance of cryptocurrencies is a step forward in their quest to become substitutes for traditional money.