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Cryptocurrency Profits: Employees to Quit Low-Pay Job

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As per a new poll, cryptocurrency investors who have drawn the correct cards at the right moment are having more benefits. Reports suggest many people in the United States are working in low-paying occupations. Some of them quit after making large profits from cryptocurrency investments. Nearly two-thirds of those who quit their jobs are getting a total salary of less than $50,000 (approximately Rs. 37.2 lakh). Apart from this, “financial freedom” given by their crypto-assets also built the courage to go to invest more in cryptocurrencies instead of doing the regular job.

Previously, US-based analytics organization- Civic Science conducted a poll between October 20 and October 27, and received feedback. They collect responses from 6,741 participants. Around 4% of respondents quit their employment because they knew they had a financial buffer because of their cryptocurrency profits.

The company hold the comparison with the four percent figure to data from a separate survey of 1,201 people. These are those who quit their employment after receiving bitcoin benefits, based mostly on their annual salary. It revealed that two-thirds of people who had lost their jobs due to ‘mad gainz’ earned less than $50,000 per year (approximately Rs. 37.2 lakh).

Mark Cuban, a pro-crypto entrepreneur, and investor put a tweet to the report. It will encourage more discussion on a phenomenon economists refer to as “the great resignation.” The term is used to describe an ongoing situation in the United States in which many salaried workers withdraw their jobs. This is due to a reaction to terrible working conditions, the pandemic, and low wages, resulting in a significant labor shortage.

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Statistics

Almost 27 percent of the 1,201 respondents have an annual income of less than $25,000 (approximately Rs. 18.6 lakh). Around 37 percent had an annual income of between $25,000 (about Rs.18.6 lakh) and $50,000. (roughly Rs. 37.2 lakh).

The value of SQUID tokens has increased by 600%. The data passes through different times and a diverse group of respondents by the analytics business. It is also unclear what “monetary independence” means in this situation, as Civic Science has not yet been given a frame of reference to determine what kind of crypto-currency profits respondents received.

 

 

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