Increase in Number of LATAM Workers Choosing to Get Paid in Crypto

Crypto Payment Latin America
Ad Disclosure
Ad Disclosure

We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More
Last updated:
Ad Disclosure
Ad Disclosure

We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More
Author
Tim Alper
Author Categories
About Author

Tim Alper is a British journalist and features writer who has worked at Cryptonews.com since 2018. He has written for media outlets such as the BBC, the Guardian, and Chosun Ilbo. He has also worked...

Last updated:
Why Trust Cryptonews
Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews
Ad DisclosureWe believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. Read more
An aiage showing a man working on a computer, along with some documents.
Source: Woraphon/Adobe

More Latin American (LATAM) workers than ever are choosing to get paid in crypto, a new report has found – with suggestions that crypto winter has done little to dampen adoption in the region.

Bloomberg Linea reported that, per the Deel Lab for Global Employment’s Global Recruitment Report, between January and December 2022, the number of remote workers choosing to get paid in crypto rose from 61% to 64%.

The report also found that no part of the world had more workers choosing to receive payments in crypto in the same time period. The report also found that the decline in crypto prices had not significantly discouraged workers from choosing crypto pay.

Paid in Crypto: Why LATAM Workers Prefer Tokens to Fiat

Natalia Jiménez, the regional manager for Spanish-speaking Latin America at Deel, told the media outlet that “phenomena such as inflation” and “the depreciation of local fiats” was driving crypto pay adoption.

She added that workers wanted to “diversify their income and take care of their savings.” And Jiménez said that this was leading them toward crypto, rather than fiat.

Jiménez said:

“Receiving their salaries, or part of their pay, in cryptocurrencies allows workers to protect themselves from fluctuating exchange rates. [It also lets them] invest and enjoy greater financial flexibility.”

Last month, the CEO of the crypto-powered payments platform Bitwage claimed there had been a significant rise in Argentinians choosing to work for companies that pay them in crypto rather than fiat.

The CEO stated that, in the past year, the number of Argentines using the platform to collect their pay in crypto had increased by 250%.

The report’s authors also noted that Latin American workers’ preferred token was bitcoin (BTC). Some 64% of surveyed individuals chose BTC pay over other crypto alternatives.

But over a quarter said they preferred the United States dollar-pegged stablecoin USD coin (USDC).

Only 7% chose ethereum (ETH), with the remainder stating they preferred altcoins.

Hyperinflation continues to dog LATAM fiats, with inflation rates in Argentina thought to be close to the 100% mark.

More Articles

DeFi News
From $10K to $75K: How Dave Portnoy Pumped and Dumped a Meme Coin on His Followers
Hassan Shittu
Hassan Shittu
2025-02-07 23:50:53
DeFi News
Donald Trump’s World Liberty Financial Set to Create Strategic Crypto Reserve: Report
Julia Smith
Julia Smith
2025-02-07 23:19:22
Crypto News in numbers
editors
Authors List + 66 More
2M+
Active Monthly Users Around the World
250+
Guides and Reviews Articles
8
Years on the Market
70
International Team Authors