Latin America is witnessing a significant boom in its freelance market. This is likely due to the disruption of the local economies and the decline in jobs caused by the after-effects of the pandemic.
According to Deel, a global hiring firm released a report called “State Of Global Hiring 2021” which indicated that the freelancing market in Argentina and other parts of Latin America has skyrocketed. The report also tells that freelancers are taking a portion of their payments in cryptocurrencies.
Argentinians are the most active users of cryptocurrencies. According to Statista, a leading statistics company on the internet has recently conducted research. The research states that 21% of users of cryptocurrencies are in Argentina followed by Chile and Peru. In fact, in countries like Argentina, the payments received are in either Bitcoin (BTC) or Ethereum (ETH). Both of these account for 90% of the crypto payments in the region.
The report also shows that when it comes to global withdrawals, the most used cryptocurrency for these withdrawals is Bitcoin (BTC). It is said that 63% of transactions are done through bitcoins. Next comes, Ethereum (ETH) and then cryptocurrencies like USDC, Solana, and Dash.
Crypto As An Option
Different countries have different legislation when it comes to cryptocurrencies but for the freelancers of Argentina, cryptos are playing a critical role in their lives. Through cryptocurrencies, they are receiving payments for the work they have done. In fact, freelancing platforms in combination with cryptocurrencies are planning to open new markets for such freelancers. Such a move can help freelancers get hired globally with a simplified payment process.