Employees of KnC Miner Company receive their salary in BTC on Xapo Debit Cards
Couple days ago, famous miner company KnC Miner located in Sweden started offering their employees to join and order debit cards from Xapo Company, in order KnC can transfer part of the salary to debit cards. So far, not every employee joined this idea, but around 30% did.
KnC Miner employees are directly related to bitcoin world, because they are among those, who are involved in manufacturing equipment for mining bitcoins, so it is hardly a surprise that they all know where and how store and use their mined bitcoins. However, in spite of few debit cards options on the market, KnC Miner decided to go with Xapo cards that can be used in any spot, where Visa is accepted, for extra convenience.
KnC Miner states that their employees are big fans and followers of bitcoin and crypto movement in general. It would be strange if it was different. Many employees invest in Bitcoins and use them as a financial tool, various equity instruments like Bitcoin Tracker One, which is traded on the NASDAQ / OMX in Stockholm and is a subsidiary of KnC Miner.
Why Xapo, when there are other options?
First mentioning and hype around bitcoin debit cards was since the beginning of 2014, mostly in USA and Australia. Among newest and strongest players on the market are Bit-X and NanoCard, that allow to spend bitcoin to fiat instantly in any corner of the world. However, KnC Miner chose Xapo from the list of debit cards. Why? Xapo is their number one choice, because of its easy to use application, high secure storage vault and couple other useful minutiae. It was declared that basically now, making an option to get a salary on bitcoin debit card, is an experiment and mostly for collecting information for research purposes. To add, they already succeeded in gathering useful experimental information from their employees for such a short period of time. As was claimed in many interviews and articles from different crypto related companies, they all have one thing in common, their vision of bitcoin debit cards as a bridge between nowadays established financial structures and future.
Some Details
Those employees who agreed to receive salary in bitcoins will receive it on their debit cards, but only certain part of it, because of certain law regulations established in Sweden, where bottom line is that only part of the salary can be in crypto currency. But employees are free to decide and establish the amount of salary they want to receive in digital currency. Why? It can be considered as part of an experiment, if you will, to understand the opportunities and convenience of debit cards in various regular established fields like salaries, but in the world of crypto.
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