According to a recent report, freelancing in Argentina has been on the rise. The report also mentions how Argentinians make up half of those who use cryptocurrencies for part of their income. Further, the report states that crypto-accepting workers prefer to receive their paychecks in cryptocurrency. This is almost 90% more than traditional crypto currencies such as bitcoin or ether.
Argentines are increasingly interested in crypto and freelancing
The boom of freelancing in Argentina seems to have been accompanied by crypto as a means of collecting payment outside the traditional financial system. A report titled “State of Global Hiring 2021,” made by Deel, a global hiring firm, has discovered that Argentinians, and Latam in general, are increasingly focusing on international companies and jobs. This is most likely due to the loss of jobs and the collapse of local economies following the Covid-19 pandemic.
However, more companies are employing Argentinians now than ever. In the past six months there has been an increase in wages for Argentinians. They are now earning 21% less working in marketing and products.
These salaries are also being withdrawn in cryptocurrency. Deel CEO Dan Westgarth said that this is a trend.
In countries such as Argentina, we are witnessing an increase in cryptocurrency withdrawals. We are currently offering withdrawals in BTC – the most widely used in Latin America —, ETH (USDC) and SOL via Coinbase.
Deel reports that bitcoin is 63% the most commonly used cryptocurrency to withdraw money globally. The second most used cryptocurrency for global withdrawals is Ethereum, which was present in only 23% of all transactions. Marginally, USDC, Solana and Dash can also be used.
A Crypto Alternative
Although there are legal differences between countries, many freelancers in Argentina have found that receiving cryptocurrency has been a way to save money and increase their buying power. With crypto and these freelancing platforms, workers can also be hired worldwide through a simpler payment process.
Argentina currently seeks to regulate digital wallets and its central bank has proposed to make it stronger.
Let us know your thoughts about Argentinian freelancers and cryptocurrency. Comment below.
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