Americans are Quitting Jobs for Crypto Gains

One thing that attracts many people into the crypto space is the lure of the high level of gains that can be drawn from the industry, a recent survey conducted in the United States has revealed that some workers are beginning to leave their jobs because of these gains.

According to a Civic Science research that surveyed 6,741 respondents on whether they had quit their jobs or knew someone that had quit his job because of crypto investment gains, about 4 percent of the respondents revealed they had quit their jobs due to crypto gains, while another 7 percent said that they knew someone that had left their jobs due to gains made from crypto trading.

Billionaire investor and Dallas Mavericks owner Mark Cuban in his reaction to the survey noted that majority of those who left their jobs made less than $50k and now stated that he “know why so many people quit low paying jobs” before adding that “this was BEFORE the current runup.”

Per the report, 27 percent of those whose salary range falls below $25,000 per year and 37 percent of those whose salary was lesser than $50,000 had quit their jobs for crypto gains. This indicates that the crypto space offers a sustainable means of income for some people, while the rich uses the space to diversify their source of income.

There is also a clear indication that those engaged in stocks may end up investing in crypto as 38 percent of the 2,943 respondents surveyed who were stock traders also had crypto investments.

Out of the 17,699 respondents questioned on their rationale behind crypto investments, 28 percent indicated it was seen as a long-term growth investment, while 23 percent said it was for short-term. However, 11 percent of the respondents saw the space as a hedge against inflation, while another 12 percent mentioned the independence trading crypto affords them.

The Civic survey report ended with the claim that crypto may see more adoption as soon as there are friendly regulations.

Views and opinions expressed are solely those of the author and not of The DeChained or any affiliated party. Views or opinions expressed in this article (or any article on the website) are not financial advice. Articles are for informational purposes only. The author and The DeChained may hold positions in assets discussed in this or other articles.
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