Pages:
Author

Topic: Crypto as job salary - Yay or Nay? - page 2. (Read 797 times)

sr. member
Activity: 1680
Merit: 288
Eloncoin.org - Mars, here we come!
May 18, 2024, 06:45:22 PM
I didn’t know about being taxed twice and I am forced to believe that it depends on the country. For what I know, it gets taxed once, I don’t know at what point but I know it’s supposed to be once. And for countries where it’s once, I think what I said is valid. Or not?
When you report your tax, have you ask or consult to the tax officer if some of your earnings are get paid in cryptocurrency? if you ever ask or consult with the tax officer and he said it's only get taxed once, then I'm wrong.

Like I said, it should be specific on the countries. Some countries are still trying to understand how cryptocurrency works and then approve it, and hence they’ve not gone that far to implement taxation for gains. I know a few countries do it because once read a thread but tax on gains based on my knowledge is not widely done for one to worry about it.
sr. member
Activity: 616
Merit: 274
May 18, 2024, 01:30:03 PM
Since I can have my bitcoin changed to fiat when I want to pay for goods and services, I am ok with receiving bitcoin as salary, because for sure bitcoin as salary helps to stop alot of unfavourable outcomes such as over spending, because with bitcoin you have to go through a process before converting the bitcoin to fiat, so it won't be easy to just spend up it money just like that.


Unlike receiving fiat as salary, which gives your express access to the money and increase your chances of spending up all the entire money without saving any part .
It depends on whether or not the company wants to use this asset to pay all its employees, what if a fairly expensive transaction occurs when transferring bitcoin, is the company willing to bear it? There are some who agree with this regarding payments with bitcoin, but we cannot stop it for our needs. If someone overdoes shopping This depends on how someone organizes and manages their finances. Paying salaries in any way we certainly cannot avoid things that involve daily living needs.
sr. member
Activity: 2100
Merit: 309
May 18, 2024, 01:16:53 PM
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.
Actually receiving in bitcoin for payment salary more interested than fiat but depend with bitcoin price, when bitcoin on higher price seems more profitable receiving with fiat because potential of bitcoin get correction after salary receiving. But get more increasing the values of salary when bitcoin get correction but I doubt any company want to change of payment salary every time.

There are two scenarios here.

Scenario 1: If BTC would be globally accepted, which means even the small stores nearby your house would start accepting BTC payments then I would opt to receive my 100% salary in BTC.

Scenario 2: If BTC is not yet globally accepted, that is the current scenario, in that case I would accept 50% of my salary in BTC and the rest 50% in fiat.
I don't think any company want to make this scenario for salary payment, its difficult to pay half in fiat and left half in bitcoin because they want to make all the same payment way for salary as fiat or receiving in bitcoin. However bitcoin still not acceptable as legal payment currently and difficult to receive salary trough bitcoin for offline working.
sr. member
Activity: 1456
Merit: 326
Eloncoin.org - Mars, here we come!
May 18, 2024, 12:51:03 PM
I don't think it will be easy to accept in crypto, might consider Bitcoin but it should be equivalent to a specific amount. I would not want the volatile nature of the market to affect me since it is my salary that is meant to cover up my expenses. Fiat is also a good option to accept as payment but in a way it is less important, why not just continue receiving payment on the countries fiat at least it becomes less of a stress to sell and not about if the price will drop below before actually selling off.

It is not possible to accept Bitcoin as a payment of salary because no one is in desire to put their single salary into unstable worth that cannot cover their expenses. Bitcoin is acceptable by the people only for the purpose of investment but neither they want to use it for payment nor they want to take it as a salary.

Fiat is better to take as a salary because its value remains stable and we are getting the exact amount of cash in the form of fiat at the end of a month. People choose Bitcoin for the purpose of investment because of its volatile feature but due to this volatility they will never wish to get their salary in the form of Bitcoin.
hero member
Activity: 2730
Merit: 632
May 18, 2024, 11:59:20 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.
Fiat, im not saying that i dont support crypto pay but we do know that on the moment that you would recieve your salary then you might be ending up on less. Why? its volatile as we do all know
and there's no way that you could really be able to avoid such stuff + you would be minding about fees when it regards on converting it to fiat on which simply means that there are tons of deductions
and this is something that we dont really like. Right? This is why even if you do love crypto but still you would really be that highly be dependent with fiat when it comes to salary.
You could always have the choice on making up some purchase or buying up Crypto with those salary that you have been able to accept with your job. It would really just that a matter of acceptance
of someone whether they would really be that tending to accept directly with crypto or with fiat as with those common days.
legendary
Activity: 2380
Merit: 2369
Catalog Websites
May 18, 2024, 11:54:35 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.
jr. member
Activity: 145
Merit: 1
May 18, 2024, 11:44:25 AM
It still easier to buy crypto with your fiat salary than getting it directly in crypto

True, but it depends on what crypto you receiving your salary in. Stablecoins for salary actually a good option, especially if you work for a company from another country.
jr. member
Activity: 140
Merit: 2
May 18, 2024, 10:48:12 AM
It still easier to buy crypto with your fiat salary than getting it directly in crypto
hero member
Activity: 2702
Merit: 716
Nothing lasts forever
May 18, 2024, 10:22:29 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.

There are two scenarios here.

Scenario 1: If BTC would be globally accepted, which means even the small stores nearby your house would start accepting BTC payments then I would opt to receive my 100% salary in BTC.

Scenario 2: If BTC is not yet globally accepted, that is the current scenario, in that case I would accept 50% of my salary in BTC and the rest 50% in fiat.
hero member
Activity: 2268
Merit: 789
May 18, 2024, 08:51:09 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 think I would exercise the option of having 50% of my salary as crypto and the other 50% as fiat.

The good thing on having part of your salary as BTC/crypto is that it gives you the convenience of already having it as a part of your salary. Not to mention, if you are a person who is investment-oriented to the point that you want to maximize your investment portfolio, having this kind of salary set-up may be beneficial to you.

I would not exercise the option of having it 100% fully as cryptocurrency since there are still obligations that must be paid daily/monthly. Having to convert it to fiat may be inconvenient especially that fiat is still the main currency being used around the world.

In which ever asset that my salary is paid, I will accept so far as I can do with the money what ever I please. If am paid in fiat and I wish to invest in Bitcoin I will buy any percentage I please using my salary that was paid in fiat. If am paid in Bitcoin I can do with it what ever I please.

At the end of the day, it really depends on the purpose.

Though that may be the case, I personally see it as an inconvenience if you receive your salary 100% as cryptocurrencies given that majority of the transactions that are being used are still made in fiat.
hero member
Activity: 3178
Merit: 661
Live with peace and enjoy life!
May 18, 2024, 08:11:50 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.
Well, it’s a case to case basis. If it pertains to my main job, I would always chose fiat to be my form of salary and just buy bitcoin whenever I have spare money ready to invest. However, if it pertains to one of my side jobs, I think receiving bitcoin as a salary would be a great opportunity for me to store maximum amount of bitcoin and hold them for indefinite years, regardless of how volatile its value is.
sr. member
Activity: 1316
Merit: 422
May 18, 2024, 07:46:28 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.
Of course I would be very happy to receive a salary in crypto, I would choose to be paid in Bitcoin if the company I work for gives me the option. I literally need it to meet all my daily needs, but when I choose to get paid using Bitcoin, of course I have another source of income to spend. There are many advantages if this option is actually implemented in the company where I work, I no longer need to buy Bitcoin to invest because the company has converted the fiat that I should receive every month into Bitcoin.
legendary
Activity: 2478
Merit: 1360
Don't let others control your BTC -> self custody
May 18, 2024, 07:23:11 AM
^
Great answer. You actually were in a situation where government decisions and monetary policies made your life harder, but bitcoin came to the rescue. There's millions of people like you all around the world, but not all of them know about bitcoin and are not afraid to use it.
In my case it would also be a yay. I had some difficult times in my life where I barely earned money and again owning bitcoin that grew in value helped me and gave me that small financial boost that kept me going. I was lucky to convert some of my fiat into bitcoin in 2014 and when it got tough for me in 2016 and 17 I used bitcoin and that shaped me into the hodler that I am now. We could say that over the years bitcoin has earned my trust.
hero member
Activity: 770
Merit: 828
Leading Crypto Sports Betting & Casino Platform
May 18, 2024, 06:57:45 AM

Well I have been through that for roughly 3 years while I was stuck in Taiwan and couldn't reenter Japan because they logged out foreigners for quite a while.
Long story short, my card also ended so it was hard for me to receive any funds. For this reason I got paid in btc and had to convert it into cash locally. Lucky for me I occasionally found some people to trade with.
In the beginning I was able to use a very expensive ATM which then shut down. Could also use a Mastercard which I was able to charge via crypto and then withdraw at atm.

Anyway, for that reason it's a big Yay for me. It basically saved my ass to be honest to be able to get paid in btc.
hero member
Activity: 3080
Merit: 603
May 18, 2024, 06:39:14 AM
In which ever asset that my salary is paid, I will accept so far as I can do with the money what ever I please. If am paid in fiat and I wish to invest in Bitcoin I will buy any percentage I please using my salary that was paid in fiat. If am paid in Bitcoin I can do with it what ever I please.
So whatever it is, it's always that we're able to use any of it. Getting paid in fiat, we will still invest in Bitcoin and if we get paid in Bitcoin, we're going to sell it for fiat. So, whichever you agree with, there's always the use that we're going to do with it. In short, we are can do whatever we please to use it. Either for investing or buying our goods, so it simply means that we get paid for our hard work.

Unless crypto can be use directly pay bills.
I think this is possible with some features from exchanges, I can't remember which one has it or some local exchanges does.
member
Activity: 378
Merit: 66
Axioma Holding - Axioma Pay Crypto Card
May 18, 2024, 06:09:57 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.

In which ever asset that my salary is paid, I will accept so far as I can do with the money what ever I please. If am paid in fiat and I wish to invest in Bitcoin I will buy any percentage I please using my salary that was paid in fiat. If am paid in Bitcoin I can do with it what ever I please.
hero member
Activity: 1288
Merit: 564
Bitcoin makes the world go 🔃
May 18, 2024, 04:41:01 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 preferred fiat since I have expenses that needs to be paid via fiat such as monthly electricity, water and insurance bills. Choosing crypto as salary will be too hassle since I need to convert it back to fiat and pay for fees just to withdraw it.

At least on fiat salary, I have the freedom on when can I purchase my crypto holdings without the need to pay for fees on conversion since monthly bills is necessities not an option payment.

Unless crypto can be use directly pay bills.
hero member
Activity: 952
Merit: 662
May 18, 2024, 04:35:32 AM
I didn’t know about being taxed twice and I am forced to believe that it depends on the country. For what I know, it gets taxed once, I don’t know at what point but I know it’s supposed to be once. And for countries where it’s once, I think what I said is valid. Or not?
When you report your tax, have you ask or consult to the tax officer if some of your earnings are get paid in cryptocurrency? if you ever ask or consult with the tax officer and he said it's only get taxed once, then I'm wrong.

it's not worth risking your payday just because it looks cool, just imagine when you've accepted this offer, your $1000 salary could just become a $800 overnight and you can't do anything about it besides hodling and who knows how long that might take you because sometimes the pump in the prices isn't as fast as the price dumps.
It's why in money management we need to have "emergency funds" instead of going all in to investment or any other volatile assets. If you have emergency funds, you won't need to worry to sell your assets in loss.
sr. member
Activity: 1484
Merit: 323
May 18, 2024, 12:04:33 AM
My stable job serves as my hedge against the bills and necessities that I need to survive, we also need to understand that there's also a life outside of bitcoin and that life outside is going to help you survive, it's counterproductive to have bitcoin or any crypto as your salary because of how volatile the market is, we need to remember that the volatility of cryptocurrency will never go away no matter what happens, maybe if everyone's already using it, we might see a price stability but right now, it's not worth risking your payday just because it looks cool, just imagine when you've accepted this offer, your $1000 salary could just become a $800 overnight and you can't do anything about it besides hodling and who knows how long that might take you because sometimes the pump in the prices isn't as fast as the price dumps.
full member
Activity: 2170
Merit: 182
“FRX: Ferocious Alpha”
May 17, 2024, 11:42:42 PM
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?
i believe this kind of thread have been here for long , because this has been asked couple of times if Im not mistaken , and the answer comes the same about choosing Bitcoin as payment .

Quote
This would be your hard-earned money that can either grow on its own or shrink in value within a small time.
that is why i choose bitcoin as payment because that is what I believe to bring me better result in the future.
Pages:
Jump to: