A recent survey conducted by French payroll software provider Payfit has revealed that 20% of French workers are interested in receiving all or part of their salaries in cryptocurrency. The survey, reported by French media outlet Cointribune, found that a significant portion of respondents preferred receiving remuneration in crypto rather than fiat currencies. Interestingly, the figure was even higher among younger respondents, with 31% of those aged 18 to 35 expressing a desire for crypto salaries. Among the genders, men were more inclined towards crypto salaries, as nearly a quarter of male respondents indicated their preference for this payment method.
However, the survey also highlighted certain trends among different demographics. Employees working in larger companies, particularly those with over 500 employees, were less open to the idea of receiving crypto salaries. More than 80% of respondents from these companies rejected the notion. Similarly, 79% of individuals belonging to the CSP+ demographic, including business owners, doctors, lawyers, and company executives, also expressed their unwillingness to be paid in cryptocurrency.
Payfit’s CEO, Amaury Lelong, admitted that he found it challenging to interpret the reasons behind the strong desire for crypto salaries among the respondents. He questioned whether this generation fully understood the risks associated with the volatility inherent in cryptocurrency investments. However, Lelong also acknowledged that these statistics reflected a broader transformation in the relationship between work and finance. He suggested that the world of work was undergoing unprecedented changes influenced by technological advancements, societal shifts, and environmental developments. The arrival of millennials and digital natives into the labor market has brought about significant changes in people’s attitudes towards work and the role it plays in their lives.
The Growing Adoption of Cryptocurrency in France
Despite the potential risks and uncertainties associated with cryptocurrencies, their adoption in France is on the rise. Some experts attribute this trend to the recent inflationary pressures faced by the national economy, which have led individuals to explore alternative forms of currency. In response to this growing interest, several major shopping malls in France have announced that they will begin accepting cryptocurrencies as a valid form of payment.
This year alone, French crypto traders have declared profits worth approximately $448 million. These figures indicate a substantial increase in crypto-related activities in the country. While the survey results may raise questions about the level of awareness regarding the risks of volatile assets, they certainly demonstrate a significant shift in attitudes towards traditional payment methods.
The survey conducted by Payfit reveals that a considerable portion of French workers, particularly the younger generation, are interested in receiving salaries in cryptocurrency. The survey results also highlight variations in preferences among different demographics, with larger companies and individuals in higher socioeconomic positions showing less enthusiasm for crypto salaries. Despite the potential risks, cryptocurrencies are gaining traction in France, with shopping malls accepting them as a form of payment, and significant profits being declared by crypto traders. This changing landscape reflects a broader transformation in the relationship between work and finance, influenced by technological advancements and societal changes.