Crypto as job salary - Yay or Nay? | Bitcointalksearch.org

Ludmilla_rose1995

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Quote from: Muchiratsky on May 14, 2024, 08:07:33 AM

Let's say you have a job that gives you the option to have your salary paid in BTC, ETC, or any other cryptocurrency, would you prefer that or would you rather still be paid in fiat? If you'd prefer crypto payment, which currency would you choose and why?

This would be your hard-earned money that can either grow on its own or shrink in value within a small time.

I would be very grateful to the business owner if he gave me a salary via bitcoin because I already know that the benefits of receiving a salary with bitcoin are much greater than receiving a salary via fiat, the fluctuating price of bitcoin means that I have the opportunity to make a profit when the salary comes in and usually the salary provider will using the dollar rate to pay employees via bitcoin

am I imagining it or not but in the future there will definitely be many companies that pay their employees via bitcoin

teamsherry

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That would definitely be a good improvement if the government were to approve crypto currency as payment for workers pr at least give them that option, but the question I'll ask is which crypto if its some meme coin hell no ill rathe take my chances with fait than having some wanna be volatile junk shit as payment for my work, but if its bitcoin although also volatile at least can last at a price till I trade what I want and keep the rest.

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Quote from: Muchiratsky on May 14, 2024, 08:07:33 AM

Let's say you have a job that gives you the option to have your salary paid in BTC, ETC, or any other cryptocurrency, would you prefer that or would you rather still be paid in fiat? If you'd prefer crypto payment, which currency would you choose and why?
This would be your hard-earned money that can either grow on its own or shrink in value within a small time.

I usually use my salary for daily needs. I buy basic necessities, pay monthly bills, or as an emergency fund. So I personally prefer FIAT money because currently FIAT currency is the one that can be used most by everyone. If I try to choose BTC or ETH as my salary then there is a possibility that I will still have to make withdrawals for my daily needs. This is difficult for me because I believe Bitcoin and altcoins will provide a massive revolution and now is the right time to HOLD as much bitcoin as you can.

But if the salary offered is a big salary then of course I will choose BTC payment because I like Bitcoin and it is the safest digital asset I know. - CMIIW

GxSTxV

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I make a living online and get paid in cryptocurrency which is something that works well for me. I had the chance to use fiat currencies only when I was younger. Since the early start of Bitcoin, I have been learning and earning as a freelancer. I can see the differences between fiat and cryptocurrency, and I am happy being paid in Bitcoin and sometimes stablecoins like USDT, which I easily exchange for Bitcoin.

The advantage for me is that I don’t have to pay taxes on my earnings. Regarding market volatility, Im always optimistic. For example, I use 70% of my salary and hold onto 30% of it. Therefore the fluctuations in Bitcoin prices doesnt bother me.

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Quote from: highalch on May 25, 2024, 02:22:23 AM

The only problem is complete transparency on the blockchain.

I'd prefer my employer not know my bitcoin wallet, previous and future bitcoin transactions. The same way I don't show them my bank statements month to month.

And yes, I'll not be willing to use mixers just to get locked out of the tradfi world and make myself another struggle cashing out btc for fiat.

Why is that such a big issue? I mean, they might know your receiving address, but not keyes, no way they'd be able to get access to your wallet. And they wouldn't know where exactly would you send it.

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Quote from: peter0425 on May 24, 2024, 09:22:22 PM

Quote from: harapan on May 20, 2024, 04:11:53 PM

So long as it stills offers money values,its also another form of money,I don't have issues with that.

Money is money. Bitcoin is money. Bitcoin is a currency. It has always been the purpose of bitcoin isn’t it? To be used as an actual currency and to be used for transactions without any third party breathing down your neck. What I would be concerned about though is the taxes they could charge you from receiving bitcoin as your salary and you decide to swap some of it for fiat or other currencies.

From what I know the taxes on bitcoin you’ve receives will increase if the value also increased over the course of time.

Yes that it is if the question will only flow for us yes for sure that we would provably like to receive bitcoin as our salary. But if we think about other people who's not familiar with this then maybe there would be a problem arise with that. Also for sure lots of people will struggle especially if they don't know how to use their bitcoin also if they got crazy of its volatility since it will take some of there hard earned money if bitcoin price fall down.

That's why for now its no for me since bitcoin need to introduce properly and there's no need to rush all of things regarding on its adoption since maybe we can see this a failure especially if there are law makers will be concern regarding on the unstable feature of it also how they could able get some tax from people accepts it.

highalch

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The only problem is complete transparency on the blockchain.

I'd prefer my employer not know my bitcoin wallet, previous and future bitcoin transactions. The same way I don't show them my bank statements month to month.

And yes, I'll not be willing to use mixers just to get locked out of the tradfi world and make myself another struggle cashing out btc for fiat.

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Quote from: Muchiratsky on May 14, 2024, 08:07:33 AM

Let's say you have a job that gives you the option to have your salary paid in BTC, ETC, or any other cryptocurrency, would you prefer that or would you rather still be paid in fiat? If you'd prefer crypto payment, which currency would you choose and why?

This would be your hard-earned money that can either grow on its own or shrink in value within a small time.

Bitcoin would be my choice if I had to receive a salary with cryptocurrency, but if there was still fiat in the options then fiat would be the main choice, and I would buy BTC when receiving a salary because we can of course choose the price we want, meaning we can wait for the price to fall if we feel like it at that time the price of BTC was still too high.
The unpleasant thing about receiving a salary from crypto is that its volatility may be greatly affected so that when we exchange to fiat we receive less because after all we will make more transactions using fiat than crypto, so for now crypto is not a good choice for main salary unless accepting it as a second source of income because most people would prefer to keep it for a certain period.

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Quote from: harapan on May 20, 2024, 04:11:53 PM

So long as it stills offers money values,its also another form of money,I don't have issues with that.

Money is money. Bitcoin is money. Bitcoin is a currency. It has always been the purpose of bitcoin isn’t it? To be used as an actual currency and to be used for transactions without any third party breathing down your neck. What I would be concerned about though is the taxes they could charge you from receiving bitcoin as your salary and you decide to swap some of it for fiat or other currencies.

From what I know the taxes on bitcoin you’ve receives will increase if the value also increased over the course of time.

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Quote from: OrangeII

Personally, I keep these two things separate. I work to generate fiat, which I use for basic needs and savings, while on the internet, I receive cryptocurrency as income. However, if my place of work paid me in crypto and had to choose, I would choose Bitcoin, or Ethereum, or maybe Binance Coin, besides that I would also accept USDT because I feel that it is the same as fiat.

If you are receiving BTC as payment in your working place, you can convert the BTC into fiat money in the exchange market to be able to use it to buy whatever you want to buy for your family to live well, and if you have nothing to buy at the moment , When you receive the BTC as salary payment, it will increase higher above the amount you receive from the company when bull run occur which is one of the advantage that will make you to accept BTC.

BTC and ETH are good coins many companies like to use to pay their workers, and if you prefer BTC, it will make you rich when you spend a long years in that particular company because you will not like to use the BTC than to hodl them like 4 years before you can sell to take profits.

USDT is a centralized currency which some countries are use to in many companies, but it will not going to add to your profit like the way decentralized currency will add to your profits.

rodskee

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I prefer fiat because I already have my Folio filled with investments , that's why I believe better
to accept Fiat because we can decide what part to be for daily expenses and how much to be added
in my investments.

Quote from: kotajikikox on May 17, 2024, 09:59:53 AM

Quote from: GbitG on May 16, 2024, 11:37:00 AM

and it is also important to note that the cryptocurrency you are choosing isn't extremely volatile at the moment of your payment because in case it drops significantly in value, you will lose money which isn't what you would want.

I guess that is where it gets tricky because salaries come in regular intervals and you are not the one who decide when it will be given to you. It is all based on a contract which you cannot really change unless you ask for an advance but I don’t think you can ask that your employer hold on to your salary for awhile until the coin get in on a good position. It’s difficult almost impossible to accurately estimate or predict the price movement of a coin.

but if you will choose bitcoin and your employer can provide that for you then why not right?

Quote from: Kelvinid on May 16, 2024, 07:50:36 AM

Factors are:
First, we consider whether cryptocurrency is legal in our country or not.
2nd, if Bitcoin is accepted as a mode of payment in major establishments or not.
3rd, do we already have an idea about crypto?

i think the only one that needs to be answered is the second one because the other 2 are already given .

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Quote from: Ale88 on May 18, 2024, 11:54:35 AM

Quote from: Muchiratsky on May 14, 2024, 08:07:33 AM

Let's say you have a job that gives you the option to have your salary paid in BTC, ETC, or any other cryptocurrency, would you prefer that or would you rather still be paid in fiat? If you'd prefer crypto payment, which currency would you choose and why?

This would be your hard-earned money that can either grow on its own or shrink in value within a small time.

It depends on the situation: if I can split the salary, then I would probably get something like 30-35% in bitcoin and 65-70% fiat, that because to pay the day-to-day expenses fiat is easier to use. And the other part in bitcoin would be like a DCA that I can do without even thinking about, and since they would go in a BTC wallet I like the idea that I wouldn't even see that money, so no temptation to buy useless stuff just because I have some extra money.

I would also love this idea. Not only you will have fiat, but you will also gain sustainable amount of bitcoin in the long run. That way, no need to timing in buying whenever bitcoin price is bearish because regardless of the price, you will be paid and receive bitcoin every month. And the good thing about this is, you don’t have to reserve funds from your fiat anymore just to buy bitcoin, because you already have both, bitcoin and fiat, it’s up to you by then how you will manage bitcoin and fiat that they will surely grow in the long run.

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Quote from: un_rank on May 14, 2024, 08:13:10 AM

It is my salary and I need some of it to get by each month so I will have to take some in fiat. If I am allowed to pick a percentage, I will take 70% in fiat and 30% in Bitcoin. No other cryptocurrency will be considered.

If I have to pick one, I will take 100% in fiat then buy bitcoin with the amount I want to from each pay cheque. This will change as my financial outlook changes.

- Jay -

So long as it stills offers money values,its also another form of money,I don't have issues with that.The idea of paying wages and salary in cryptocurrency instead of the normal regular money is even better due yo tge transparent transaction records that are stored on the blockchain.
With the situation that's radically operating,bitcoin has still not been widely adopted or accepted,otherwise they're some values attached to been paid with bitcoin.Knowing,accepting and adopting bitcoin can also be an opportunity to earning smart bit coin option.

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Quote from: Muchiratsky on May 14, 2024, 08:07:33 AM

Let's say you have a job that gives you the option to have your salary paid in BTC, ETC, or any other cryptocurrency, would you prefer that or would you rather still be paid in fiat? If you'd prefer crypto payment, which currency would you choose and why?

This would be your hard-earned money that can either grow on its own or shrink in value within a small time.

As a crypto writer and a project manager for some cryptocurrency projects both big and small, getting paid in crypto is just an after-thought to me.

I don't mind getting paid in fiat, I don't mind being paid in stablecoins, I wouldn't mind being paid in crypto since I'm used to it as well, and I know workarounds that I can do if I need cash at the moment, if that's what you're highly concerned about.

The biggest benefit that getting paid in crypto could do to you is the fact that it automatically claims your stake in terms of investment, meaning as long as you don't pull everything out of your wallet, you're set to go already and you don't need to waste money on fees anymore. Of course it doubles the process on the other side of the spectrum, which is when you need fiat money for daily expenses, but I'll take that any day than dreading to invest in crypto cause I don't have that much left on my pay.

I believe the reservations that a couple of us have over this concept lies on the fact that they haven't tried it yet, but for the most part, it's just like getting paid via venmo or better yet, through your checking account, So the process isn't really hard per se unless you're computer illiterate.

Wind_FURY

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I believe many people have missed the point on why they want to be paid Bitcoin or an altcoin/shitcoin. Although they're right to choose part of it to be in Bitcoin, or if you ask them, altcoins/shitcoins - because "store of value". But that shouldn't be the main feature to make us decide why we should get our salaries in cryptocurrencies. It should be efficiency. If your employer can't give your salary in cash, or send it straight to your bank account, that's actually when you should want to get paid in Bitcoin.

Webetcoins

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Been doing this for about 4 years now, the first few years wasn't good but it is overall that. I think what we need to realize is that crypto is a currency just like any other currency, what you do with it after you get paid is all up to you. Meaning that you could end up trusting it with crypto and keep it there for a while, or you could just focus on doing something else with it and turn it into fiat right away.

Even the simplest campaign income is something you could do, it wouldn't be really all that complicated, we are talking about something that will not be all that complicated and we could do something that may not be all that difficult for people to understand. So all in all, we are talking about crypto as a good payment in the end.

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Quote from: Yamifoud on May 19, 2024, 02:24:08 AM

It is still a debate whether it is a good option or not but for me, until it is not yet accepted in my local, I won't take it. I see this is also a concern by most where the legality and acceptance of Bitcoin are in question. Maybe we consider this option in the next few years but at this time, that is somewhat not the best deal to do. Unless our purpose is to just invest for the long term.

In fact, I don't hear it has been discussed by my employee and I think it was not in his mind as well considering the that adaption is not that wide enough.

The argument only comes from a small number of bitcoin investors, and ordinary people never make this choice because bitcoin is clearly not yet a legal or widely used currency.

Personally, I would also choose fiat instead of bitcoin for the reasons everyone mentioned above: price fluctuations, transaction fees, not yet popular... there are too many disadvantages if we receive salary in bitcoin. It is unknown whether bitcoin will become a currency and be widely accepted in the future, but at the present time, receiving salary in bitcoin is still not a suitable option.

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Quote from: Yamifoud on May 19, 2024, 02:24:08 AM

It is still a debate whether it is a good option or not but for me, until it is not yet accepted in my local, I won't take it. I see this is also a concern by most where the legality and acceptance of Bitcoin are in question.

What? You're on a Bitcoin forum.

Why would you care about whether some government made it legal or not?

Unless it was your government, of the country that you live in, the is saying something like that, there is nothing to be concerned about regarding accepting Bitcoin salaries.

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It is still a debate whether it is a good option or not but for me, until it is not yet accepted in my local, I won't take it. I see this is also a concern by most where the legality and acceptance of Bitcoin are in question. Maybe we consider this option in the next few years but at this time, that is somewhat not the best deal to do. Unless our purpose is to just invest for the long term.

In fact, I don't hear it has been discussed by my employee and I think it was not in his mind as well considering the that adaption is not that wide enough.

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Quote from: Muchiratsky on May 14, 2024, 08:07:33 AM

Let's say you have a job that gives you the option to have your salary paid in BTC, ETC, or any other cryptocurrency, would you prefer that or would you rather still be paid in fiat? If you'd prefer crypto payment, which currency would you choose and why?

This would be your hard-earned money that can either grow on its own or shrink in value within a small time.

As far as the salary of the lower middle class is considered I don't think it's the right strategy to give salaries in crypto. There will be many financial and technical problems that these people will face if they are taking salaries in crypto.

First of all most of the workers spend their salary divided on the monthly basis. As we all know that crypto is a very volatile market and it can have severe effects on their salaries. I think it's better to keep them away from these stresses.

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