The Latin American Freelancing Market Is Expanding, With More People Accepting Cryptocurrency.

Deel, a global recruiting business, published its “State of Global Hiring 2021” study, which indicated that Latin American freelancers are skyrocketing, with more workers opting to accept a portion of their salary in cryptocurrencies.

According to the report, Argentinians and Latin Americans are concentrating their hiring efforts on overseas firms and employment. The severe changes in the working industry are most likely due to the collapse of local economies and jobs caused by the COVID-19 pandemic’s aftereffects.

According to the report, Argentina stands out in the area due to a considerable growth in worker pay – with 21% more people working in the marketing, goods, and sales sector in the previous six months.

With the growing volume of freelance activity, the survey found a similar tendency in the number of workers who chose to receive a portion of their wages in cryptocurrencies. 

Workers, in particular, prefer to be paid in Bitcoin (BTC) or Ethereum (ETH), with the two accounting for 90% of crypto payments to the region.

Latin America has risen as one of the most rapidly adopting regions for Bitcoin and other digital assets, owing to a growing desire to boost financial inclusion rates among its inhabitants and support financial stability.

It’s no surprise that the study mentions the rising volume of cryptocurrency withdrawals, underscoring Bitcoin’s popularity in the region.

 Deel COO Dan Westgarth said:

“We are seeing an increase in cryptocurrency withdrawals, in countries like Argentina,” said Deel COO Dan Westgarth. “We currently offer withdrawals in BTC -the most popular in Latin America-ETH, USDC, and SOL through Coinbase.”

With Bitcoin and other digital currencies providing a relatively reasonable solution to their fluctuating fiat currency, as well as bridging the gap for Latin American individuals to have access to financial services, Argentina’s freelancing market is undoubtedly on the increase.

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Patrick

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