Apr 11, 2022 - Economy

Growing number of workers taking part of their paycheck in crypto

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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