US freelancers start favoring payment in cryptocurrency

If you hire a freelancer in the 21st century, you may find yourself asked to pay them in cryptocurrency. According to a survey by recruiting platform Humans.net, 29 percent of US freelance professionals prefer full or partial payment in cryptocurrency.

Humans.net conducted a survey of 1,100 US freelancers. Of those surveyed, 18 percent prefer payment in cryptocurrency. Some 11 percent like to receive partial payment in cryptocurrency.

Cryptocurrencies provide them an efficient, low cost means of overseas financial transfers. The digital currency option can cost less than using PayPal, TransferWise or Western Union, depending on the coin used. Fiat money transfers can cost between five to 10 percent of the transacted value, while cryptocurrency transactions cost a few cents to a few dollars. Some cryptocurrencies do not charge fees. It also provides a mechanism for larger transactions such as those that exceed $1,000 a day or $20,000 a  month.

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