Civic Science published a survey on November 1 that revealed that many Americans are leaving their jobs to invest in crypto assets.

An anonymous group of 6,741 participants was asked to answer questions about quitting their jobs due to the crypto gains that occurred in October 2021. 4 percent of respondents said they have quit their job in the last year because of financial freedom that comes with investing in cryptocurrency. 7 percent said that they know someone who has.

Mark Cuban (billionaire investor, owner of the Dallas Mavericks), who is known for investing in NFT platforms and has been a top NBA player, contributed to the discussion.

Amazingly, 4% of Americans have left their jobs due to Crypto Gains. The vast majority of these people made less than 50k. This is why many have quit low-paid jobs. It was even before the current economic crisis.

According to income data, 27% of participants quit jobs at lower wages than $25,000, while 37% went on to jobs earning around $50,000. Civic Science explained:

These data suggest that crypto investments could have brought life-changing income to some. However, the wealthy owners of crypto see it as an asset diversification tool rather than a source of income.

Further, the survey found that active traders in stock trading were more inclined to invest in crypto assets. 38% of 2,943 respondents had previously invested in digital assets.

If asked to explain why they invested in crypto, 28% said that investing was better as long-term growth investments. 22 percent were looking for quick-term growth, while 11% said it would protect them from inflation. 12 percent wanted to be free from the government.

“Over half of the population (51%) views crypto to act, more or less, as a traditional stock,” according to Civic Science.

Additionally, younger investors were more inclined to keep crypto long-term investments. 60% of respondents were split evenly between having more wealth than the year before or being at the same level.

Investors who have more money are likely to do better than those who have less.

In conclusion, Civic Science opined that regulations may change the perceptions and usage of cryptocurrencies in the future “but as of now, the blockchain technology seems to have shedded off its anti-establishment roots, to be embraced by a diverse set of active stock traders and individuals with various levels of income.”

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