The number of searches for earning Bitcoin have increased over the past few years and have now reached an all-time high according to statistics from Google Trends. The trend began in September and has been continuously moving upwards for the past several months.
According to Google, the majority of the searches seem to be coming from the Philippines, India and the United States. This can be a great sign for Bitcoin adoption in all three countries, especially with India’s current banking troubles where millions cannot withdraw their money.
— Alistair Milne (@alistairmilne) December 4, 2016
US post-election woes
Even during the heated period of fall 2016, Bitcoin still had a rising amount of searches such as “Buy Bitcoin,” which was most likely due to the US elections and the candidates’ stance towards the economy.
After the results of the 2016 elections, both US stocks and Bitcoin have been rising continuously, with stock prices climbing up the most.
Expert: More people get salaries in Bitcoin
Bitcoin has gained some ground and has been trading at almost $600 in September, over $700 in November and chances of reaching $2000 in 2017, which might have raised some curiosity about the cryptocurrency and its advantages over cash.
While prices are over $700 and still rising, some employers and businesses are also starting to use Bitcoin to take advantage of smaller transaction fees and the growing demand for fast payments. Certainly, the increase in people accepting Bitcoin as a salary might be the reason as it is easier to get a Bitcoin wallet than to open a bank or PayPal account.
Cointelegraph talked to Shaun Gilchrist, founder of Bitcoin Average about this trend. He says:
“I do think that individuals accepting their salary in Bitcoin completely depends on the country they are from. In my experience, developers, for example, in less developed countries are more open to accepting payments in Bitcoin due to their banking woes, not directly related to it being a better value option than their national currency, but as a payment method.”
The biggest reason is most likely concerned with banking in the top three countries. As it is easier to send Bitcoin rather than log into your bank account and send an e-transaction, most people accept it since the Internet is so popular and allows tipping microtransactions.
“If both sides of the transaction are willing to pay and accept salaries in Bitcoin, then there will certainly be a group of people who do. If people see their friends getting paid in Bitcoin, things will spread organically,” added Gilchrist.
There are certainly different ways to earn Bitcoin and most guides recommend people try out faucets to get a hold of a little Bitcoin to play around with.
This allows faucet users to “earn Bitcoin,” however a number of freelance websites are allowing freelancers to accept Bitcoin as a form of payment.