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Apr 11, 2022 - Economy

Growing number of workers taking part of their paycheck in crypto

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Monthly withdrawals made on Deel platform, by select cryptocurrency
Withdrawals refer to the number of individual cryptocurrency payments employees have elected to receive. Data: Deel; Chart: Baidi Wang/Axios

More employees are taking part of their paycheck in cryptocurrency, at least based on data from one payroll company.

Details: Deel, which serves over 6,000 customers in more than 150 countries, is seeing more employees on its platform doing just that for one cryptocurrency or another.

  • About 2% of 100,000 hires over the past six months have opted to take at least part of their salaries in crypto (bitcoin being the most common), according to Deel.
  • A person could buy multiple cryptocurrencies in each paycheck, and that would be counted as multiple "withdrawals" in the chart above.
  • Employees on Deel who buy crypto with their paychecks don't pay fees to make the purchase.

What they're saying: “The growing interest in crypto withdrawals mirrors the broader shift toward increased flexibility for employees," Deel COO Dan Westgarth tells Axios, via a spokesperson.

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