In the face of increasing inflation, the decrease in the purchasing power of workers and employee salaries made people look for various things. Many employees, who consider investing in cryptocurrencies as a source of income, have turned to this field.
Striking results came out of the survey conducted by Civic Science, a US survey firm.
Survey data revealed that low-paid people in the US quit their jobs after making life-changing gains from their cryptocurrency investments. 6741 people over the age of 18 participated in the survey conducted by the company between April and November.
While 4% of the participants stated that they gained their financial freedom thanks to their crypto money investments and then quit their job, 7% said that a friend who invested in crypto money quit his job.
Looking at the income level of those who quit their jobs, it was revealed that 27% of them quit their jobs with a salary of less than $25,000 a year, and 37% left their job with a salary of $50,000.
The data also shows that 15 percent of research participants quit after earning in the $50-$75K range from their crypto investments, 13 percent quit after earning in the $75-$150K range, and 8 percent more than $150K. revealed.
Because Civic Science spanned this survey over a long period of time, it was not disclosed what respondents considered “financial freedom.”
“These data reveal that crypto investments provide life-changing income for some, while more wealthy crypto holders use the asset class as a diversification tool rather than a source of income,” the survey firm said. said.
Billionaire investor and owner of the Dallas Mavericks, Mark Cuban, also said the following about the survey, which revealed striking results:
“Wow, 4% of people in the US quit their jobs because of cryptocurrency earnings. Now we know why so many people are leaving low-paying jobs.”
When respondents were asked about their reasons for investing in crypto, 28% of respondents said it was a long-term growth investment. 11% said investing in crypto is a measure against inflation, while 23% said they invest for short-term gains.