Sunday, December 5

Americans are leaving jobs due to cryptocurrency profits

A survey conducted by Civic Science revealed that 4% of Americans left their jobs after earning money investing in cryptocurrencies. Most of them involve small amounts, less than $50,000, and are related to low-income jobs.

Despite being a good amount for those who live in Brazil, it is important to note that living costs in the US are more expensive. In other words, don’t think that they are retiring with this amount.

Among other statistics is the number of people who bet on currencies such as Bitcoin and Ethereum at different times. Most of them are focused on the long term, however they are closely followed by short term investments.

Would you quit your job?

Of the 6,741 responses to Civic Science, 4% of respondents said they quit their jobs because of the financial freedom gained by investing in cryptocurrencies. Another 7% responded that they know someone who has taken this path.

Percentage of people who left their jobs due to investments in cryptocurrencies. Source: Civic Science

However, among those who left their jobs, most of them went with a small amount, up to $50,000. About 27% of people did this with earnings less than 25 thousand, another 37% between 25 and 50 thousand dollars, totaling 64%.

Amount that made people quit their jobs. Source: Civic Science

Although this amount of 50 thousand dollars (R$ 276 thousand) is a good value for us Brazilians, and can serve as capital to start an enterprise, it is worth remembering that the cost of living in the US is higher than in Brazil.

That said, these people may be leaving low-paying jobs, helping them prepare to pursue better opportunities in the job market.

Long-term investors dominate

Another statistic pointed out by the survey are the motivations for investments in cryptocurrencies, such as Bitcoin and Ethereum. Most people treat this investment as being long term, as well as a significant part use these currencies as a hedge against economic conditions such as inflation.

Motivations for investments in cryptocurrencies. Source: Civic Science

Bitcoin has now become an easily accessible asset that can serve as a protection against periods of high inflation. In addition, it has a very important function, educating people about economics, as many still think that currencies like the real and dollar have some backing.

With this, Bitcoin is taking an increasingly important role in society, now people can have, in their wallet, a controlled printing currency. Giving them more and more economic freedom.