Topic: Are any of you paid your salary in crypto? What's it like? (Read 736 times)
I have some friends who are being paid in cryptos or bitcoin and for them it feels really good as they can stack bitcoin and the currency where are they working on but lets talk about the risk of getting your salary in bitcoin. What if you need money in one night but you cannot insta convert them in fiat ? or lets say you need to go to a hospital in the middle of the night but they doesn't accept bitcoin and many other examples. For now bitcoin as a salary currency is too risky but also the rewards in time can compensate your efforts.
my salary is not paid in crypto but in fiat but i wouldnt mind receiving my salary in crypto. I am sure with time salaries will be received in crypto and i strongly look forward to it happening
Crypto is very volatile to be used to pay for salary of employee, and I do not experience that because fiat is mainly usable for that aspect. But I also enjoy receiving crypto by doing jobs along internet for the services offered, and used it for other investment. regarding to this but 'm looking forward to see things that happen as more adoptions may end things to right place, if more people will start using
it as a daily part of their business transactions, then it will happen.
How do your employers buy it?
Have there been scenarios where after they purchased the agreed amount the value increased/decreased substantially before you were paid? If so, how did they react to this?
Today there are services with the help of which you can receive a salary in a crypto currency.Have there been scenarios where after they purchased the agreed amount the value increased/decreased substantially before you were paid? If so, how did they react to this?
It works quite simply. The Service you choose creates an account number for you (this is a regular bank account). You give this account number to your employer, and he transfers your salary to that account. The Service converts the fiat received into your account into the crypto currency of your choice (at rate of the Exchanger with which the Service has a contract) and transfers this currency to the wallet address you specified. All taxes are already taken into account when exchanging, so you don't need to think about this issue.
As you can see from this, the employer absolutely doesn't care what the rate of Bitcoin, he just pays yours salary in fiat.
I am Freelancer, and I get a lot of money through Cryptocurrency. You can get any job on the freelance website, and you can get paid by Altcoin (this is an out-of-stream deal based on the agreement between users).
I have some friends working as community moderators on social media for a notable blockchain project and they get paid in crypto ; eth, Bitcoin or project tokens. No matter market volatility, they get paid for the equivalent of their agreed salary. When eth fell below $100 I remember them becoming very cheerful because they will get more ETH
I never paid anyone in Bitcoins. But I have received the salary for my freelancing work in BTC.
freeelancing is wastly different from getting salary from your offcial employer
as a freelancer I'm getting paid in crypto every other day (well not every other day, but twice a week at the very least)
you do not have to pay taxes this way, you do not have to declare your income
but if you are getting paid by a company, they have to deal with the paperwork and I wonder if there is a living soul on this forum who can prove
he is getting paid by a company and show how are they doing it in the legal aspect
I never paid anyone in Bitcoins. But I have received the salary for my freelancing work in BTC.
By the way; I have a very sweet experience on receiving the service charge on crypto (BTC actually). In the 2nd month of 2017 I receive a payment unconsciously (basically then I wasn’t much aware of crypto & its progress). Even, I took that payment consciously when BTC price went above 8000$.
Till now I’m holding that payment & that’s the reason now I’m a crypto learner! So see, there have so many advantages of crypto-based salary system;
Whatever; in near future, everything will be crypto-based I mean payment system, salary or any financial deal for sure. But, it’s not an instant process, need more times actually to adjust.
Till now I’m holding that payment & that’s the reason now I’m a crypto learner! So see, there have so many advantages of crypto-based salary system;
Whatever; in near future, everything will be crypto-based I mean payment system, salary or any financial deal for sure. But, it’s not an instant process, need more times actually to adjust.
yes i have heared and i got payment by altcoin.but its really difficult for some person to use crypto if they have no knowledge about it.many people dont understant about bitcoin too.but ofcourse they knows about bitcoin.
Until now I have never heard of people working and paying using Bitcoin, because in my opinion many people don't understand what Bitcoin is, yes even though I'm sure they've heard and seen advertisements on social media about Bitcoin. There may be, but only people who really understand how to work in Bitcoin.
I have not received my salary in Bitcoin so far, because it will not help me much, because in my country, Bitcoin is not a means of payment adopted in most areas. It would be interesting, but I do not think this payment method will be adopted too soon in my country. For this to happen, at least in developed countries, Bitcoin fluctuation should not be so great, because the risk is high, especially as it is about wages.
my salary is not paid in crypto but in fiat but i wouldnt mind receiving my salary in crypto. I am sure with time salaries will be received in crypto and i strongly look forward to it happening
How do your employers buy it?
Any employer who wish to pay in crypto, will either have a lot of BTC/alts already saved with them they agree to pay in, or they may choose to buy them immediately in a good quantity or the exact amount during the time they need to pay (may be through exchanges or direct deals in which they can buy for some less %).
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Have there been scenarios where after they purchased the agreed amount the value increased/decreased substantially before you were paid? If so, how did they react to this?
I've had a work that was USD-pegged once I agreed to do it based on fiat-pegged pay, I completed the job and handed it over to them. It's not how you think, if the value would have increased when they've had bought, they'd only send me the amount that matches my pay (in terms of USD), same applies if the value decreased. The only thing that differs is, advantage; and it totally depends on this increase/decrease and who gains afterwards. They don't go bizarre even after any change in price as we're all aware of the volatility in markets.
How do your employers buy it?
Have there been scenarios where after they purchased the agreed amount the value increased/decreased substantially before you were paid? If so, how did they react to this?
Nah. it is a different story when you integrate crypto in salary. The laborers are not longing because fiat money is what all they wanted. So why bother use crypto for salary? Why not give fiat money directly. anyway it could.be possible though since some are working in cryptocurrency so there could be a possibility that some are receiving salary from crypto. Have there been scenarios where after they purchased the agreed amount the value increased/decreased substantially before you were paid? If so, how did they react to this?
I do not understand you.
Why get paid in BTC is bad?
Is BTC volatile? Yes it is. But it is not so volatile that you could not transfer it to USD for several hours with heavy losses.
I think this is nonsense. If we have agreed on this amount in USD (or any other stable currency) - this is a very easy way to transfer money.
The OP was asking if anyone ever paid their employee in crypto currencies. He wasn't asking if you are paid in crypto currencies. Anyways, I have something to say regarding your opinion. Yeah, bitcoin is volatile but the price don't jump up and down within few minutes, but why on earth would you want to have your salary in bitcoin if you will convert it to fiat currency? You would like to go through those extra hassle? Why get paid in BTC is bad?
Is BTC volatile? Yes it is. But it is not so volatile that you could not transfer it to USD for several hours with heavy losses.
I think this is nonsense. If we have agreed on this amount in USD (or any other stable currency) - this is a very easy way to transfer money.
I have never got a payment in crypto in the real working environment Most ICO campaign managers and other related employees get paid in crypto or with bitcoin but I haven't heard any company out of the crypto world who pay there employees using bitcoin or crypto but if some starts that in the future I think there can be advantages and disadvantages both for employees depending on price fluctuations because most of the time crypto and bitcoin are highly volatile so it can be highly profitable and also non profitable
We've practiced this, but everything remained at the old rate. I believe it largely depends on the attitude of the employer to the employees 
How do your employers buy it?
Have there been scenarios where after they purchased the agreed amount the value increased/decreased substantially before you were paid? If so, how did they react to this?
I try to understand your question, maybe what you mean is that someone who has a job in the real world then his salary is bought into Bitcoin? Previously in 2017 I worked and every salary I got 50% of my salary was used to bought bitcoin and it was not fruitless cause I got a big profit because I had sold it at ATH. But now I don't work anymore and only rely on income from trading so I can't buy bitcoin yet. Have there been scenarios where after they purchased the agreed amount the value increased/decreased substantially before you were paid? If so, how did they react to this?
How do your employers buy it?
Have there been scenarios where after they purchased the agreed amount the value increased/decreased substantially before you were paid? If so, how did they react to this?
Have there been scenarios where after they purchased the agreed amount the value increased/decreased substantially before you were paid? If so, how did they react to this?
This is very rare, although I have not heard of someone paying a salary with Crypto payments, of course the employer will suffer a lot of losses when the price of bitcoin decreases, of course it will pay according to the initial agreement.
If the problem from which the employer gets Bitcoin, it could be that he is a big trader or investor who has enough experience in the Cryptocurrency world.
Our company does this. Most of my co workers exchange theirs immediately while some who has more budget hodl them
may I ask what country do you live in?
there are too many legal questions about recieving wages i ncryptocurrency
I wonder how do you pay taxes?
if you even do at all, besides, you got to convert it to cash at least from time to time
so the banks might be curious about the source of the money as well
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