ALPHARETTA, Ga.–(BUSINESS WIRE)–Aug 5, 2022–
Bakkt Holdings, Inc. (NYSE: BKKT) a digital asset platform that unlocks crypto and drives loyalty to create pleasant, related experiences for a broad vary of shoppers, immediately launched findings from its “Gig Workers & Crypto Study” inspecting numerous segments of gig staff and their openness to and understanding of cryptocurrency. While the research was fielded throughout peak crypto volatility between mid-June and early July, 38% stated they have been open to getting paid in crypto and openness rose to practically 50% when requested in the event that they have been open to getting paid a portion in crypto.
“The increasing appeal and the existing usage of cryptocurrency among gig workers came through clearly in our study,” stated Nicolas Cabrera, Chief Product Officer Payments at Bakkt. “While this group could benefit from increased understanding of how crypto can be used, rideshare drivers, food delivery drivers and other gig workers cite crypto as the next generation of currency and are drawn to the potential increase in the value of their pay.”
Crypto adoption is already properly underway with this demographic of staff, and so they seem to be crypto savvy, with 20% claiming they’ve already been paid in crypto. Within that group, freelance writers/designers/builders, grocery customers, social influencers and those that lease properties have been probably to say they’ve been beforehand paid in crypto. And when requested what share they might have an interest in taking in crypto, gig staff chosen 20-40% of revenue in crypto as essentially the most outstanding vary (34% total), together with rideshare drivers (42%), handymen (40%), and market sellers (40%).
Key National Findings
Crypto Payout
- Within the gig financial system workforce, there are variations among the many kind of employee who’s open to getting paid a portion of revenue in crypto, with freelance writers/designers/builders and property renters with the very best openness charge (62%), adopted by rideshare drivers (56%), and grocery customers (55%).
- 34% of staff would decide to obtain 20-40% of their revenue in crypto, 31% of staff would go for 20% or much less of their revenue and one other 21% would decide to obtain 40-60% of their revenue in crypto.
Crypto-Appeal:
- Potential for enhance in worth of pay rated as essentially the most compelling purpose for getting paid in crypto (49%), adopted by getting paid instantly as an alternative of a ready interval (26%), it’s non-tangible foreign money that may substitute money (13%), and its potential as a long-term funding plan for retirement (11%).
- A most differential statistical methodology was used to decide desired options in signing up for crypto funds and located the highest drivers of signup to be: skill to money out at any time, platform safety, instantaneous supply of crypto, and being skill to maintain crypto so long as desired to construct worth.
- 33% charge their crypto data as “above average” or “very high” in contrast to solely 26% who have been equally aware of extra conventional funding autos similar to exchange-traded funds (ETFs).
Crypto Barriers
- Education stays a precedence as 48% of gig staff nonetheless say they don’t know a lot about crypto. Other considerations embrace the necessity to give you the chance to pay payments in USD (34%), it’s too dangerous/risky (33%), and staff don’t need to danger their paycheck lowering in worth (33%).
Gig Worker Perceptions
- More than half of gig staff take into account their revenue as crucial for fulfilling fundamental residing wants for themselves and their households, as opposed to “nice to have” revenue. 70% of gig staff are working 2 or extra gig jobs, and over 30% are working 3 or extra.
- Almost 40% of gig staff say they see themselves persevering with in the gig financial system for the subsequent 3 or extra years.
- Gig employee satisfaction is excessive total, however gig staff who personal crypto are extra happy with their major gig job than gig staff who don’t personal crypto (78% vs. 68%).
- 66% of gig staff use their very own cash to fund prices related to their gig job
About the Study
Commissioned by Bakkt® and carried out through the insights automation platform quantilope, the research surveyed 1,018 gig staff throughout the U.S. and was fielded in June and July 2022, offering perception into how gig staff take into consideration the long run of crypto funds, in addition to inspecting how crypto adoption and sentiments range throughout gig work segments.
To study extra about this analysis, please click on right here.
To obtain the Bakkt App, go to the App Store® and Google Play Store™.
About Bakkt:
Bakkt is a digital asset platform that unlocks crypto and drives loyalty to create pleasant, related experiences for a broad vary of shoppers. Bakkt’s platform, obtainable by the Bakkt App and to companions, amplifies shopper spending and bolsters loyalty packages, including worth for all key stakeholders inside the Bakkt funds and digital belongings ecosystem. Launched in 2018, Bakkt is headquartered in Alpharetta, GA. For extra info, go to: https://www.bakkt.com/ | Twitter @Bakkt | LinkedIn https://www.linkedin.com/company/bakkt/
This doesn’t represent, and shouldn’t be construed as, funding recommendation or a suggestion to purchase, promote, or in any other case transact in any funding, together with any of the product(s) talked about herein, or an invite, provide or solicitation to interact in any funding exercise. This info is offered solely on the idea that you’ll make your personal funding selections, and Bakkt doesn’t take account of any investor’s funding aims, specific wants, or monetary state of affairs. It is strongly advisable that you simply search skilled funding recommendation earlier than making any funding choice.
Source: Bakkt Holdings, Inc.
Bakkt-C
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CONTACT: Lauren Post, VP – Communications
Lauren.Post@bakkt.com
KEYWORD: UNITED STATES NORTH AMERICA GEORGIA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES DATA MANAGEMENT TECHNOLOGY CRYPTOCURRENCY SOFTWARE FINANCE INTERNET
SOURCE: Bakkt Holdings, Inc.
Copyright Business Wire 2022.
PUB: 08/05/2022 09:29 AM/DISC: 08/05/2022 09:29 AM
http://www.businesswire.com/news/home/20220727005502/en
Copyright Business Wire 2022.