One in Five French Workers Expresses Interest in Crypto Salaries

by Nik Asti

Published: June 28, 2023 at 8:00 am Updated: June 28, 2023 at 8:41 am

by William Savage

Edited and fact-checked: June 28, 2023 at 8:00 am

In Brief

A fifth of French workers would like to receive their salaries in crypto.

This trend is predominately led by younger male workers.

A recent survey has revealed that one out of every five French workers wishes to receive all or a portion of their salary in cryptocurrency. Conducted by Payfit, a French payroll software provider, the survey has sparked conversations about the changing landscape of remuneration preferences among the workforce.

20% of French Workers Express Interest in Crypto Salaries

Payfit‘s findings indicated that 20% of French respondents expressed an interest in receiving their salaries in cryptocurrency, as opposed to traditional fiat currencies. Payfit’s CEO, Amaury Lelong, found it challenging to pin down the specific reasons behind this preference.

When broken down by demographics, the survey showed a clear trend towards younger male respondents favoring crypto salaries. Approximately 31% of respondents aged between 18 and 35 stated they would welcome receiving their wages in crypto. Nearly a quarter of male respondents also voiced the same preference.

On the other hand, the survey results showed that employees from larger companies seemed less receptive to crypto salaries. Over 80% of respondents from firms employing over 500 people rejected the idea. Additionally, 79% of respondents from the CSP+ demographic, typically including business owners, doctors, lawyers, and company executives, also expressed a disinterest in receiving crypto-based remuneration.

Which Groups of French Workers Want to Get Paid in Crypto?

Despite the uncertainty, the CEO acknowledged that the survey findings reflect a broader shift in the relationship between work and finance. “Since the arrival on the labor market of the Millennials and then of the digital natives, we have observed a marked […] change in the relationship people have toward work,” he noted.

This revelation comes amidst a rising trend of crypto adoption in France. The inflationary pressures on the national economy have reportedly encouraged some to turn to cryptocurrencies. In addition to individual interest, institutional adoption is also on the rise. Major shopping malls in the country announced earlier this month that they would begin accepting crypto payments. Crypto traders in the nation have declared around $448 million worth of crypto-related profits this year.

Read more:

Tags:

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Nik is an accomplished analyst and writer at Metaverse Post, specializing in delivering cutting-edge insights into the fast-paced world of technology, with a particular emphasis on AI/ML, XR, VR, on-chain analytics, and blockchain development. His articles engage and inform a diverse audience, helping them stay ahead of the technological curve. Possessing a Master's degree in Economics and Management, Nik has a solid grasp of the nuances of the business world and its intersection with emergent technologies.

Nik Asti