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Report: Freelance Workers in Argentina Are Among the Most Active in LATAM Receiving a Part of Paycheck in Crypto

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A recent report states that freelancing in Argentina is on the rise and comments on how Argentinians use cryptocurrencies to get a portion of their paychecks. The report further states that workers accepting their paychecks in crypto favor traditional cryptocurrencies such as ether and bitcoin, which together amount to almost 90% of the payments made in crypto.

Freelancing and Crypto Becoming More Popular in Argentina

Freelancing appears to be on the rise in Argentina. With it, crypto as a means of collecting payments that are not covered by 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. The report explains this is likely a result of the decline of local economies and jobs due to the after-effects of the Covid-19 pandemic.

However, more companies are now hiring Argentinians than ever. This has created an increase in the wages of Argentinians in the last six months, who are earning 21% more working in the marketing, products, and sales sector.

These salaries are also being withdrawn

Cryptocurrency. Regarding this trend, Deel COO Dan Westgarth stated:

We are seeing an increase of cryptocurrency withdrawals in countries such as Argentina. We currently offer withdrawals in BTC -the most popular in Latin America-, ETH, USDC and SOL through Coinbase.

The most used cryptocurrency for global withdrawals is bitcoin, with 63% of transactions using it, according to the Deel report. Ethereum comes in a distant second place, being present in 23% of the withdrawals made. Also, USDC, Solana and Dash can be used marginally.

Crypto as an Alternative

While other countries may have different legal systems, many freelancers in Argentina find receiving cryptocurrency a lifeline, helping to preserve their purchasing power. These platforms allow workers to be freelancing and can also offer simplified payment processes.

Argentina is currently seeking to regulate and control digital wallets, as its central bank is proposing to strengthen the measures providers like Mercado Pago and Uala will have to take regarding KYC-AML.

What do you think about Argentinian freelancers and their use of cryptocurrency? Please leave your comments below.

sergio@bitcoin.com'

Sergio Goschenko

Sergio is a Venezuelan cryptocurrency journalist. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. He is a computer engineer by trade, but he lives in Venezuela and has been impacted by the cryptocurrency boom on a social level. This gives him a unique perspective about crypto success and how it benefits the underbanked.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. This article is not intended to be a solicitation or offer to buy or sell any products or services. Bitcoin.com does not provide investment, tax, legal, or accounting advice. The author and the company are not responsible for any loss or damage resulting from or in connection to the content, goods, or services discussed in this article.

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