Topic: Bitcoin as primary currency - page 3. (Read 735 times)
I don't advise you to do anything about it because there is no meaning in keeping 80% of your salary in Bitcoin. You cannot buy or pay everything with Bitcoin now. For example, you will have to convert some of your coins to fiat money to be able to pay your bills. And when it comes to buying the needs for your home, you will need fiat money nearly everywhere. Bitcoin payment method is still not so common. So, I would advise you to make an investment into Bitcoin of course but not to keep most of your salary in it.
If there isn't any sort of bitcoin service that you can use in your country for paying bills, then you're out of luck. You can simply do what most bitcoin-only people do though; sell a bit of bitcoin each month solely for your bills.
Please, what do you advise I do in other to hold at least 80% of my salary in bitcoin?
Use your salary to buy bitcoin after every paycheck, and leave some fiat for your bills. It's that simple.True, you must think of the bills if you do have. Always reserve for fiat in case of emergency and use your salary for buying not directly in bitcoin. By that you can maximize whether you want to use it for now or save it for later.
Firstly, you cannot use Bitcoin as your primary or sole currency, it would make it impossible for you to buy most of your daily needs, or you'd have to go through the stress of converting to fiat back and forth. Having said that, receiving your salary in Bitcoin is not really advisable, its a good currency/investment, but it's as well very volatile, and is yet to attain mainstream adoption, thus it's much better you receive your salary in your fiat currency, and then use the percentage you want to buy Bitcoin for investment purpose.
Please, what do you advise I do in other to hold at least 80% of my salary in bitcoin?
Isn't holding 80% of your salary in Bitcoin investing far more than you can afford to lose? Mind you that your investment should be something you can afford to lose.Very valid points made here. Never invest money that you can’t afford to lose, is the first and most crucial rule. And unless you live in El Salvador, bitcoin can’t be used as your primary currency.
Hello bitcoiniars I am working in a private liability company and I want to receive my salary in Bitcoin which is around $1500 monthly
you already receive wages on fiat and you earn well, i imagine that every month your wages enter your bank account and are deducted for life and health insurance. and you can easily pay your expenses and then take the remaining money and buy bitcoin, so why do you want to receive your salary in bitcoin? does not make sense
what do you advise I do in other to hold at least 80% of my salary in bitcoin?
pay your bills with fiat and then take what's left and buy bitcoin, it's simple
If the company has this option, talk to them and grab the opportunity of getting paid in bitcoin with your salary.
But if there's none, you have to do it alone and convert each payment you make. You look for the exchange in your country that you can freely convert it immediately as you will.
But if there's none, you have to do it alone and convert each payment you make. You look for the exchange in your country that you can freely convert it immediately as you will.
Hello bitcoiniars I am working in a private liability company and I want to receive my salary in Bitcoin which is around $1500 monthly my main aim is to use it as an investment now my confusion is how do I service with paying off bills I have a few hours a day to myself which I can use for another side hustles. Please, what do you advise I do in other to hold at least 80% of my salary in bitcoin?
$1500 is a good amount for per month. You can discuss with your payer that you want to take your salary by Bitcoin. If they reject it, you can convert your fiat crypto currency to Bitcoin and then you'll be able to save your desire amount of Bitcoin. Bitcoin is leading the market and you have taken it a great decision about buying Bitcoin. 
I think you can accept 80% of your salary in Bitcoin and the remaining 20% in your local currency but before accepting this value you should calculate your needs and then can decide, you can also receive 100% in Bitcoin and can exchange any time through P2P2 in exchanges and can get your required amount in your bank account for your expense.
Hello bitcoiniars I am working in a private liability company and I want to receive my salary in Bitcoin which is around $1500 monthly my main aim is to use it as an investment now my confusion is how do I service with paying off bills I have a few hours a day to myself which I can use for another side hustles. Please, what do you advise I do in other to hold at least 80% of my salary in bitcoin?
The question is whether all companies pay employee salaries with bitcoin, is bitcoin in your country legal and can be used as legal tender?and if all of that is true why are you confused, you can use bitcoin as a means of payment to meet your needs and bills, and the rest for you to invest, and you should not limit your investment and do it after meeting all your needs.
and if you receive your salary in bitcoin and can't for any transactions, it's better to receive your salary in fiat, and you can divide it without confusion.
I personally prefer bitcoin as my future asset as well as my reserve fund and will not use it for any transactions, unless I really need it and only sell it as needed.
Don't prioritize bitcoin over your daily needs. Just set aside at least 30-40%(maximum) of your salary depends on your needs. One step at a time, no need to hurry things up. And also timing, buy low and sell high. If you want to be a trader and investor, no need to hurry things up. Well good luck.
~
no need more time for it mate but at least you have digital wallet in your phone, for me in my opinion trust wallet is the best option mate to hold bitcoin wherein only finger print you can access your wallet immediately if you want to check, and however there's a qr code as well so that you can transfer your salary without hassle.
He is not even asking about ways to store his coins, instead he is asking whether it is a wise idea to receive his salary in BTCitcoin and confused on how to go about things on a daily basis no need more time for it mate but at least you have digital wallet in your phone, for me in my opinion trust wallet is the best option mate to hold bitcoin wherein only finger print you can access your wallet immediately if you want to check, and however there's a qr code as well so that you can transfer your salary without hassle.
.Many have tried to base their living and daily expenses only on Bitcoin but on long term that is extremely hard. Depending only on Bitcoin gives you uncertainty and if you have a family it's not very wise not to have some other income in fiat currency. Bitcoin is excellent to be combined as an additional income source and additional savings but personally I'm not brave enough to rely only on Bitcoin.
If someone tried to base their life on a highly volatile asset, what can we call them 
. There were many who sold their belongings and entered the BTCitcoin market and many reaped their profit taking that risk. No one in the right sense will invest in a highly volatile market and expect that to be a savings fund. Consider this as an asset class which has its risk and like any other investment the entry is important and having the patience is vital in becoming successful in the market. 
If you have a day job and you want to vet the salary in bitcoin then you can contact the finance department and request them to send your salary in bitcoin.
Most probably they will deny because most companies do not have such policies to give out salaries in bitcoin.
In this case the only option you have left is to buy bitcoins on your salary day and hold them in a non custodial wallet.
If you have time to do some side hustle then there are many platforms on the internet where you can do online work and get paid in bitcoin.
You can explore the services board and find things on the marketplace board if you think you can trade them and make profits.
There are websites like fiverr and upwork where you can do online jobs and ask the clients to pay in bitcoin.
Many people do such jobs as a side hustle.
Most probably they will deny because most companies do not have such policies to give out salaries in bitcoin.
In this case the only option you have left is to buy bitcoins on your salary day and hold them in a non custodial wallet.
If you have time to do some side hustle then there are many platforms on the internet where you can do online work and get paid in bitcoin.
You can explore the services board and find things on the marketplace board if you think you can trade them and make profits.
There are websites like fiverr and upwork where you can do online jobs and ask the clients to pay in bitcoin.
Many people do such jobs as a side hustle.
Hello bitcoiniars I am working in a private liability company and I want to receive my salary in Bitcoin which is around $1500 monthly my main aim is to use it as an investment now my confusion is how do I service with paying off bills I have a few hours a day to myself which I can use for another side hustles. Please, what do you advise I do in other to hold at least 80% of my salary in bitcoin?
If you leave alone and all you have to fund monthly is yourself, i think it's okay to do it or you can buy some more altcoins to spread your investment because that's what usually cryptocurrency investors do.
Yeah many people advicing not to do it because 80% is too much, but for me , if we're already able to live our life normally with that 20%. It's okay to take the risk as we live only once in this world
Hello bitcoiniars I am working in a private liability company and I want to receive my salary in Bitcoin which is around $1500 monthly my main aim is to use it as an investment now my confusion is how do I service with paying off bills I have a few hours a day to myself which I can use for another side hustles. Please, what do you advise I do in other to hold at least 80% of my salary in bitcoin?
My suggestion is to receive your salary in fiat money and then you can deposit 80% of your salary to the exchange so you can directly buy bitcoin and send it into other wallets. That is the only way for you to hold the bitcoin you buy at the exchanges unless your company agrees to pay you in bitcoin so you do not have to be involved with the exchanges. Maybe you can discuss with your supervisor or your boss and tell them what you want and hopefully, they can understand and accept your request.
To make bitcoin a primary currency there will be big hurdles. The first thing is government should regulate the crypto market (The bad thing about this is crypto should be decentralized and it shouldn't regulate by the centralized party). The second thing is even bitcoin gets legal in a country there will be very little chance people will use bitcoin as a mode of traction because of its facultative price.https://kryptoseeker.com/
Many have tried to base their living and daily expenses only on Bitcoin but on long term that is extremely hard. Depending only on Bitcoin gives you uncertainty and if you have a family it's not very wise not to have some other income in fiat currency. Bitcoin is excellent to be combined as an additional income source and additional savings but personally I'm not brave enough to rely only on Bitcoin.
You can’t depend on bitcoin 100% as you still need to exchange into other currency at some point, bitcoin as a primary currency may not be possible but as a secondary currency and as an alternative to your fiat currency. You will run into trouble if you choose bitcoin as your primary currency. This is because Bitcoin is not an acceptable currency to the public.
If the country has bitcoin as a legal tender like El Salvador then probably I can say that you're wrong but given that it's not the likely case then probably you're right but bitcoin has been used like a currency already.
You can’t depend on bitcoin 100% as you still need to exchange into other currency at some point, bitcoin as a primary currency may not be possible but as a secondary currency and as an alternative to your fiat currency. You will run into trouble if you choose bitcoin as your primary currency. This is because Bitcoin is not an acceptable currency to the public.
Hello bitcoiniars I am working in a private liability company and I want to receive my salary in Bitcoin which is around $1500 monthly my main aim is to use it as an investment now my confusion is how do I service with paying off bills I have a few hours a day to myself which I can use for another side hustles. Please, what do you advise I do in other to hold at least 80% of my salary in bitcoin?
If that 's what you expect . Maybe you should look for alternative money by working side jobs to cover your billing needs . So you can still invest the results of your main work into bitcoin..But this is not easy, it takes extra hard work and takes your rest time. What you worry about is that you will be depressed because of your own ambition. It may be better if you invest within your means after you fulfill your obligation to pay bills. It is better.
Firstly is a good thing to know that you work in a country and company which pays the staffs in bitcoin as this is less stress for you, but I want to ask you what is your main purpose of collecting the money in bitcoin because you getting your money in bitcoin and still taking about getting your needs with this same coin.
There is no meaning in keeping 80% of your salary in Bitcoin to be honest. You are not going to be able to pay your bills and you won't be able to buy many things you buy with fiat normally. Bitcoin is not in that stage yet. It is not preferred as a payment method in nearly all places. And it would be a very risky move also. Because if Bitcoin price decreases sharply, your investment will be worth much less than before. Do you believe that you can make up for it in some way?
Jump to: