Insights

1 in 4 Aussies surveyed want their salary paid in Bitcoin

A survey of 1,000 Aussies has found nearly 25% are happy to be paid, at least in part, by Bitcoin. Let’s find out more.
The post 1 in 4 Aussies surveyed want their salary paid in Bitcoin appeared first on The Motley Fool Australia. –

Despite the rollercoaster ride Bitcoin (CRYPTO: BTC) has been on over the past year, some Australians want at least part of their salary paid in the popular cryptocurrency. A survey of 1,000 Aussies by comparison website Finder found that nearly 25% of the respondents were interested in the idea.

As we enter this brave new world of digital currencies, more and more of our compatriots are willing to take the plunge.

Your salary in cryptocurrency?

According to the Finder survey, more men were interested in being paid in Bitcoin than women. 34% of men said they were willing to receive part of their salary in the cryptocurrency while only 16% of women said the same.

The most popular reason Australians cited for wanting to be paid in Bitcoin was what they perceived as its appreciating value. 14% of all respondents gave this answer. 10% said a Bitcoin payment would help them invest before taxes.

55% of respondents, including 61% of women, said they were not interested in the cryptocurrency. 13% said they thought it was too volatile while a further 8% stated they need access to their pay straight away.

Finder personal finance specialist Taylor Blackburn said cryptocurrencies were becoming more mainstream.

Bitcoin has seen impressive growth in the past year, despite its recent drop and sometimes volatile nature.

With more Australians looking for inflation hedges, yield-bearing assets and alternative investment opportunities, it’s not surprising that this many people are willing to be paid part of their salary in Bitcoin.

The survey also revealed that men who made more than $100,000 a year were the most interested in being paid in Bitcoin. Millennials and Gen Xers were the most receptive generations, with a respective 19% and 22% responding in the affirmative. Just 1% of Baby Boomers agreed.

Blackburn urged Australians to do their research before buying cryptocurrency or agreeing to be paid partly in Bitcoin.

Like with any investment, there are risks involved with cryptocurrencies. But with high risk can come high reward.

Be sure to do your due diligence so you know what you’re getting into.

Bitcoin market value snapshot

Just in the past week, Bitcoin price has bounced between a high of almost US$43,000 and a low of just over US$31,000. The cryptocurrency is currently trading for US$38,000. In percentage terms, that’s a fall of 28% followed by a rise of 23% in just 7 days!

The Chinese government’s recent crackdown on cryptocurrencies and tweets by Tesla Inc (NASDAQ: TSLA) founder Elon Musk are among events that have impacted the Bitcoin price recently.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

*Returns as of February 15th 2021

More reading

Why 1 analyst thinks the recent crypto collapse is not so different from 2017

This tech ETF has returned 30% for ASX investors in the past year

A cracking year so far for Super, and where to for Bitcoin? Motley Fool CIO Scott Phillips on Sunrise

Here are the US shares ASX investors were buying last week

Why Tesla stock jumped on Monday

The post 1 in 4 Aussies surveyed want their salary paid in Bitcoin appeared first on The Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!