Cryptocurrency holders earning less than $50,000 a year are quitting their jobs in droves. The number of people leaving the work force is on the rise as more and more individuals turn to cryptocurrency investing for a living. This trend has been seen particularly among millennials who have turned from traditional industries such as banking, accounting or finance into crypto investing due to financial instability and job loss during this volatile time period.

A new study has found that holders of crypto assets are quitting their jobs in droves. The study suggests that it is time to leave a job if you don’t earn more than $50,000.

Deposit and Earn Up to $3000 Bonus

According to CivicScience’s research, low-wage employees are abandoning their occupations as a consequence of their cryptocurrency winnings.

A record number of Americans resigned their jobs in April. This pattern has persisted in the months thereafter, resulting in what the Economist refers to as “the Great Resignation.”

The epidemic has altered people’s perspectives on life and work. According to the statistics, employees are no longer ready to put up with terrible working circumstances, with the most serious issue being wages in proportion to the cost of living. To put it another way, employers do not pay a living wage.

According to CivicScience, some crypto investors who find themselves in this situation have enough employment flexibility to leave. In other words, bitcoin and the 2021 bull market are likely to hasten the Great Resignation.

Cryptocurrency is generating money and allowing people to work from home.

The crypto market value has increased by +250 percent since January 1, reaching an all-time high of $2.76 trillion mid-week. Long-term investors will earn handsomely as a result.

However, survey data from CivicScience suggests that the influence of this increased income on the larger economy, especially the employment market, is modest.

According to their research, 11% of the population has resigned their work or knows someone who has quit their job because of their cryptocurrency investment.

Percentage of people quiting jobs due to crypto is the source for this information.

However, this survey question does not take into account crypto adoption as a whole, which would exaggerate the “No, not at all” result, given the majority of those polled do not own any cryptocurrency.

According to TripleA, a commercial blockchain solutions startup, crypto ownership accounts for 3.9 percent of the worldwide population, or over 300 million individuals. This ratio is comparable to the 4% of persons who said, “Yes, I have.”

This suggests that a higher percentage of persons who owned crypto in 2021 and experienced big profits departed their employment than the study suggests.

What does this mean in terms of salary brackets?

By breaking down the aforementioned replies into income levels, it’s clear that 64 percent of those who leave their jobs owing to cryptocurrency profits make $50,000 or less.

The highest earners, who make more than $150,000 a year, make up the smallest proportion of those who resign, accounting for just 8% of the total.

Job quitters due to crypto by income is the source for this information.

This means that for the poorest, crypto investments may have provided life-changing returns. Better-off investors, on the other hand, do not see cryptocurrency as a “way out.” Instead, they regard it as an asset diversification technique that isn’t large enough to tempt them to leave their current work.

Gain a competitive advantage in the cryptoasset market.

As a premium Edge member, you’ll get additional crypto insights and context in every story.

Analyses of the whole chain

Snapshots of prices

a little more context

For just $19 a month, you can become a member right now. Examine all of the advantages.

Posted in: Technology, People

Deposit and Earn Up to $3000 Bonus

Like what you’ve seen so far? Stay up to date by subscribing.

  • how much notice to give job
  • future of cryptocurrency 2021
  • is crypto the future
You May Also Like

MATIC Price Prediction 2021-2025 | Can MATIC reach $5?

Today, MATIC (Matic Network) is trading at $0.001536 with a market cap…

Bitcoin price falls under $33K, but on-chain data hints at BTC accumulation

As the Bitcoin network continued to produce blocks in the early hours…

What are Parachains and Why are they Important for Crypto?

What is a Chain? A chain of blocks, each one connected to…

Ethereum one-upped Bitcoin to close 13 consecutive daily green candles. Here’s what it means

Since Bitcoin’s record-setting run in 2017, both it and Ethereum have fallen…