Crypto as job salary - Yay or Nay? - page 4.

Marvelockg

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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 rather have a section of my salary automated into Bitcoin investment rather than receiving all my pay in BTC. Salary are meant to be spent during the month and you can't really deal with the fees Everytime you want to convert it to fiat considering the fact that you need to spend it in fiat form.

It's not logically right to pay salary in BTC, and any form of short term form of holding BTC wouldn't work too well and would most likely end up creating unnecessary expenses for the holder.

AnonBitCoiner

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I will prefer to take my salary in fiat because fiat does not have so much volatility like that of bitcoin and Bitcoin is also a successful asset but due to its volatile nature people will choose to take their salary in the form of fiat. With fiat you can buy Bitcoin whenever you want to buy it but for it you have to save the amount little by little.

If someone desires to take their salary in the form of Bitcoin then they will be profitable during bull season but during bear season they will be in loss and they will also be not able to save their Bitcoin because salary is for managing daily expenses so one will must sell their Bitcoin to sustain a better life no matter it's a bear or bull season so I think taking salary in fiat is a better option.

big kid

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I'm already receiving a salary in crypto. In USDT, and it works fine. I was receiving it in LTC, but I switched because of volatility.

lizarder

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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.

The choice remains on bitcoin because compared to other coins bitcoin is much more reliable. Unfortunately there are no options that we can choose because in my country we still rely on fiat for all matters and bitcoin is only allowed as an investment asset. If this option were available, then I would choose 60% paid in bitcoin and another 40% in fiat currency. Because we still need fiat for the current life journey process in buying, this percentage is enough to meet my needs.

The rest can be stored in bitcoin assets until it reaches its highest price and that's when I will try to sell it to get maximum profit. We rarely get this opportunity because companies or workplaces still use the old system to pay employee salaries so it will be difficult to realize in the near future.

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For me, a salary in Bitcoin rather than in any other coin would be preferable. But I proceed from the fact that there is a family where one person works and fully provides everything necessary for life; the second works for investments. If you do not pay attention to the market for some time while holding Bitcoin, you will subsequently make a profit, which can be used to open an additional business that generates passive income. This is how I see all the benefits of a Bitcoin salary. But if a person does not have a spouse, it will not always be convenient to fully provide his money in crypto.

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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.

If I were given such a choice, I would still choose payment in Bitcoin because from Bitcoin I can still hope to get more profits when the price of the Bitcoin I received starts to increase again in the market. Meanwhile, fiat will never increase in value and even tends to fall in conditions of inflation so it looks less worthy as an option if there are better ones like Bitcoin. Although most working people out there are still quite happy with paying salaries via fiat, they will eventually set aside a little to buy Bitcoin. So what would you choose if you had such a choice?

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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.

Are you the guy who lives paycheck to paycheck or are you a guy who has a decent salary and wants to invest some part of it for a better future? If you are the first one, then I think it's better for you to get your salary in your local currency to save on conversion fees. If you are the second person that I described, then if I were you, I would get my salary in crypto. The fact that crypto is volatile means that sometimes you'll receive a big amount of Bitcoin and sometimes you'll receive small amount of Bitcoin but in the end, price is significantly rising every time, you only have to convert what you need for your basic needs and save the rest in Bitcoin, in our wallet. After months or years, your saving will be significantly increased.
Years ago I was receiving 0.04 BTC weekly which was roughly 100$ but I saved them for a few months, didn't spend them and my weekly 100$ turned into 500$. I would choose salary in crypto every day because I'm gonna buy it anyway, so I prefer to get money in to and convert some part of it later in my local currency than to get salary in local currency and buy Bitcoin manually, myself.

Outhue

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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 short time.

I would love to accept crypto as my monthly salary, they will do me the favor of DCAing with no extra charges while trying to exchange Fiat into crypto, but it won't make a difference to many people, because they still need money to live, they have bills to pay, so most of that money will be changed back to Fiat.

As you can see, it makes no sense to get paid in crypto when you will be needing fiat to survive, unless you are the type that has more than one job that pays, so you can accept crypto payments here and Fiat as payment in another job.

If you want to accept Bitcoin as payment, then it should depend on the person paying for the transaction fee, if it is the company then it is welcoming, but if you have to pay for the transaction fee I don't think it is worth it, every coin count, and few times in a week you will see Bitcoin transaction fee going higher.

If you have other means of surviving it will be cool to get paid in BTC and hold, especially now that we are in a bull market, your whole salary can easily turn into double in a few months later or even more.

zaim7413

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As an active investor in Cryptocurrency, I would prefer to be paid in Bitcoin, as I no longer have to go through the hassle of buying Bitcoin and also save on fees. Another reason why I chose Bitcoin is because the salary is not my only source of active income, otherwise there is no need to divide the percentage in the form of Bitcoin and fiat. Having more than one source of income can make it easier for me to organize financial plans for the future, so the money that I would otherwise use to buy Bitcoin can be diverted to other needs because I will get additional Bitcoin which is much more practical when receiving a salary at work.

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Quote from: Sebas.tian on May 15, 2024, 11:17:17 PM

I think, I will prefer Bitcoin as salary because whenever the bullish season is available in the market, I will have hope that my Bitcoin is accumulating for me to achieve double income from the Bitcoin, but if you chose fiat as salary, there is no way the fiat will be increasing inside your bank account without you adding to the fiat. There are many companies in El Salvador country who are using Bitcoin as payment in their companies and their workers are very comfortable with the payment, because they will not touch the Bitcoin when there is a bearish season than to continue holding till the bullish season appear before they can release them for sale. Like those who don't have the knowledge of Bitcoin, they will prefer fiat payment they are use to in the country, because they know how to withdraw the fiat from the bank at anytime.

I would definitely prefer payment using bitcoin, because that way I can hold it for a long time until I get double the income from the price increase.
but again, because not all countries can buy things with bitcoin, we still break down the bitcoin payments into FIAT currency which is legal in a country.
with bitcoin payments, we can exchange about 30% to fiat, the rest is for long-term investment.

Sebas.tian

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I think, I will prefer Bitcoin as salary because whenever the bullish season is available in the market, I will have hope that my Bitcoin is accumulating for me to achieve double income from the Bitcoin, but if you chose fiat as salary, there is no way the fiat will be increasing inside your bank account without you adding to the fiat. There are many companies in El Salvador country who are using Bitcoin as payment in their companies and their workers are very comfortable with the payment, because they will not touch the Bitcoin when there is a bearish season than to continue holding till the bullish season appear before they can release them for sale. Like those who don't have the knowledge of Bitcoin, they will prefer fiat payment they are use to in the country, because they know how to withdraw the fiat from the bank at anytime.

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Quote from: Minor Miner on May 15, 2024, 10:46:13 PM

Currently bitcoin is just an investment asset, it is not a currency or a popular means of payment.

Maybe for you. I've been paid in crypto exclusively since 2018 and have been using it to buy things pretty regularly for years now.

The hard part is deciding whether or not you can stomach/absorb the risk of a sudden price drop if your entire net worth is crypto-related. For example, the price of Dogecoin dropped 16% in a single day last month, and I had to pay rent the next day, LOL. (All major coins were down that day). This risk is definitely lessened by converting altcoin payments to BTC, or if you prefer no risk, a stablecoin like USDT. (I mean so far Tether hasn't "collapsed" as has been predicted since 2016).

Edit: your account used to use BTC as a currency and means of payment ALL THE TIME, back when it belonged to its original owner, LOL.

bitzizzix

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No, because when I receive a salary, I have to pay taxes, pay other bills and have to buy all my needs which can only be paid for using legal means of payment, namely my country's currency.
And besides that, Bitcoin fluctuates a lot and when I receive a salary and Bitcoin decreases, my salary will also decrease following the movement of Bitcoin.
I know Bitcoin is a profitable investment, but I prefer to buy Bitcoin from part of my salary after I use my salary for taxes, other bills and also for all my needs because everything has to be paid in fiat and if I use Bitcoin I also have to bear the costs the transaction.
Except I have two salaries, and I will definitely choose one of them using Bitcoin because this will make Bitcoin continue to accumulate because I receive it with Bitcoin that I will save for the long term. Grin

Minor Miner

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Quote from: mirakal on May 15, 2024, 07:00:44 PM

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’ll chose being paid in fiat still. Bitcoin has no stable value and it’s highly prone to volatility and price crash. The reason why I don’t want to risk my hard-earned funds by receiving it through bitcoin. I’ll just stick to DCA to maximize my bitcoin portfolio without risking all of my funds, that way the risk to lose is low.

Also, bitcoin is not widely accepted as a mode of payment here in our country so it would be useless to convert all my hard-earned funds into bitcoin since I won’t be able to purchase my basic needs at the nearest store. I’ll just prefer fiat in salary and just buy bitcoin using my spare money so I won’t end up panic selling whenever my fiat money is used up.

Similar to you, I would also choose to receive my salary in fiat currency instead of bitcoin. Frankly speaking, there are too many disadvantages when we receive a salary in bitcoin for our main job. As long as fiat currency remains the main measure and means of payment in the world, receiving salary in any asset causes disadvantages in life, not just bitcoin. We need to arrange to have a proactive life, a convenient life, not because we love bitcoin and we attach it to everything in life. Currently bitcoin is just an investment asset, it is not a currency or a popular means of payment.

STINKYBEE

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Quote from: oktana on May 15, 2024, 06:50:56 PM

I would like to receive it in BTC. One of the downsides is that there are not many places you can use Bitcoin to pay for stuff so you’ll still have to convert to fiat at the end of the day. Another downside is the transaction fee. But getting paid in Bitcoin just feels right than in any other cryptocurrency (for me).

I don't understand why people always asks, "why not use of bitcoin for the payment?" It's simple, in America if you buy something with btc, it means you have to sell a bit of what you have and that's a taxable event. Why would anyone want to pay taxes just so they called buy a cup of coffee ?

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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’ll chose being paid in fiat still. Bitcoin has no stable value and it’s highly prone to volatility and price crash. The reason why I don’t want to risk my hard-earned funds by receiving it through bitcoin. I’ll just stick to DCA to maximize my bitcoin portfolio without risking all of my funds, that way the risk to lose is low.

Also, bitcoin is not widely accepted as a mode of payment here in our country so it would be useless to convert all my hard-earned funds into bitcoin since I won’t be able to purchase my basic needs at the nearest store. I’ll just prefer fiat in salary and just buy bitcoin using my spare money so I won’t end up panic selling whenever my fiat money is used up.

oktana

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I would like to receive it in BTC. One of the downsides is that there are not many places you can use Bitcoin to pay for stuff so you’ll still have to convert to fiat at the end of the day. Another downside is the transaction fee. But getting paid in Bitcoin just feels right than in any other cryptocurrency (for me).

Bananington

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

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I care more about being unemployed than how my salary would be paid.
I would not reject a job offer because my salary is offered to me in the Crypto, if that is the only option presented, then I will have to find a way to ease it up with me.
I have no objections to accepting my full salary in cryptocurrency.

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Quote from: Russlenat on May 15, 2024, 03:46:55 PM

Quote from: Jawhead999 on May 14, 2024, 08:31:01 AM

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However, the sad reality is that I don’t think bitcoin is accepted here in the city where I lived, as the government still very much focused on fiat and banks, and discouraged everyone to get involved with crypto especially bitcoin. With this, I know I have to receive my salary in fiat, and just secretly continue buying bitcoin until I earned good amount, without no intentions to spend them but will continue to grow them and triple their amount. I guess for now, I will always stick to my goal most especially that bitcoin isn’t very welcome here in my area.

This is also the case where I am, bitcoin is still not accepted as a means of paying so it is just collecting it for the long term which is what I am currently doing too, the price of bitcoin will continue to rise, this opens up opportunities for me to make big profits in the future, remember that there are only 21 million bitcoins created, while more and more people will enter bitcoin, this will make the price of bitcoin continue to strengthen and it will be impossible to return to zero.

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There are some physical jobs you do that the company pays you in BTC and I also believe that in El Salvador some workers receive their salary in BTC. And this you question is a technical question and some people would only be interested to answer it straight to BTC accepting of their salary but all depends on the salary and the income to the person. If the person has another side hustle that gives him money then he would accept bitcoin to be paid but if he doesn't have another hustling job that pays him money to pay bills and other domestic stuff the it is better for him to receive his salary in Fiat and from there he can make a plan to buy bitcoin from the salary because if you received your salary from BTC and you want to pay bills then you have to transfer bitcoin to exchange and sell it and that transaction process, you have to pay transaction fee and if the time you are doing the transaction, the fee is high then you will end up having half salary.

Therefore think well before you choose the option of bitcoin or fiat.

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