Topic: Getting paid in Bitcoin vs getting paid in Fiat - page 3. (Read 1088 times)

The only disadvantage of the crypt in this comparison is the fact that the transaction cannot be canceled

it's true as you said, for now it's better for us to receive our salaries and be paid in fiat currency, because in our country it is still very risky to pay with bitcoin, because in our country bitcoin is still strictly prohibited by the government, so it's best we must accept payment in fiat currency..

I'm getting paid in LTC on my second job and i'm really grateful for that. I'm holding part of my salary and i'm buying BTC with it sometimes.

I wish I could be offered to have BTC payment for my office job but it was impossible this time as the use of Bitcoin is not known in our country nor it was widely accepted by the major establishments. In this case, I'd preferred to get paid in fiat, not because I have no choice but it is due to the volatility of its value. In fact, this is one reason why merchants don't have the courage to take risks from this as knowing that due to unpredictable changes in its value. 

Getting paid in bitcoin and in fiat have both its advantages and disadvantages. IMO the question of which is better between the two is a  very subjective matter. The perspective whether which of it is more beneficial lies only on the employee who choose to receive either of the two aforementioned.

If an employee will opt to receive his salary in fiat, there will be additional taxes to be deducted upon before he can receive his compensation. This is one of the disadvantages that I can see in receiving the salary in fiat. Government have to tax you as high as 20% and deduct the government benefits to your overall salary. So if your salary for a month is $3000, you can't have it clean. On the other hand, it will be better this way if you will spend your money on other needs outside cryptocurrency investment. You can use the money anytime because you have it at hand. In addition, if you opt to receive your salary in fiat, you can wait for the right time on when to buy bitcoin (dip) and you can buy more if you'll enter the low position in the market. The only cons is the transaction fee of conversion and exchange.

Meanwhile, if the employee will opt to receive bitcoin as a compensation it will be tax free. You will receive directly on your wallet bitcoin value that was bought with your supposedly salary in fiat. So if your salary in month is $3000, you will receive bitcoin worth that value on your payday. You don't have to wait and process exchanging anymore because your employer will do it for you. However, it has its cons. If the value of bitcoin during your payday is at high position, you will receive lesser amount of bitcoin compared to the time bitcoin's price is at low position. Discrepancies will happen since bitcoin is volatile. There will surely have a time when you will receive more or less.

You just have to pick what suits your personal preferences.

It is better to get paid in Bitcoin, but fiat will be a secondary option. With bitcoin, it is much more convenient, efficient and faster in terms of online transactions, payments and remittance. You have the option to save and invest it long term or you want to trade it. Fiat is still useful for those that are not that knowledgeable in cryptocurrency.

Right now most of the companies pays in fiat currency just because of in some countries bitcoin is banned but there are some small companies or you can say in freelancing they pays in bitcoin or any other cryptocurrency because they pay one time for that particular task but in job employees paid monthly wise and if we talk about taxes nowadays almost every centralized exchange asking for document verification where it is impossible to hide your identity.

This can be a good thing but it might turn out not as you think. Even now with the people that know Bitcoin, some people still will not like their salaries to be paid in Bitcoin or maybe not fully and we understand why that is, because we cannot spend it easily as we can do with fiat in mostly our daily shopping stores. SO even in the future, It is still majorly speculation that we think everything will be digital so we think that all payments will be digitally like Cryptocurrencies.   

while big companies are already supporting bitcoin now and even accepting this coins , meaning in the future there will be more and more companies will support bitcoin and if those days come , all the payments will be made thru bitcoin and fiat will be only secondary.

right elsalvador became the first country to legalize it, so this country is a parameter of its success in using bitcoin. I agree with your way of teaching him to use the process, where people are educated to have bitcoins through their salaries, until finally they can use bitcoins fully

I think it's better for them to have an option or to be paid half of each. With that, they can grow up their salary and have their own investment in cryptocurrency which they have all the right to withdraw whenever they want it. maybe if they implement such an option to their employers it will add some roles on the crypto market and will eventually be adopted if the result is successful. I think the first country that should consider this kind of norm should be El Salvador since they already announced to the world about their bitcoin-friendly country why not push it to another level.

another abiky thread 

well to be honest i accepting crypto for sallary already more than 2 year since it more like us who work on bounty hunter will do the same think

i would preferred to be payed on crypto usdt or other stable coin especially 

If the government starts adopting bitcoin. then the payment in bitcoin will then be tax deductible, just like fiat today.With bitcoin's volatility, I don't think it's a good idea.Bitcoin would be more suitable for investment than payment.Or its better to make international payments as a means of daily payment.

I would suggest the same, Don't get your money into a volatile market that you need in life to sustain your living you're not going to be living on the trading funds technically for some time and it's better to invest in trading with money you can afford to lose just like in gambling, I mean it's always better to take precaution.

Yes its convenient but not for business owners considering on the money that they do have on it which if its on Bitcoin form then it would really be volatile and since business or companies do really aim for profits then they would really be finding this thing to be not appealing plus having the expense of fees which would really be adding up on the cost which will also a big hindrance which i do fully agree on this one.
I cant really blame of those companies if they would stick out to traditional fiat which they wouldnt mind about volatility and wouldnt mind about fees or something like that
but there are companies which do matter or do see on the positive side of things on integrating bitcoin.

Actually getting paid from bitcoin as a salary is good enough when you're having a thrifty mind over your income. But not good for those who doesn't value money for future purpose, fiat income would be better for just a quicker spending like using that money for sudden things which you only need to spend for one time purpose, and not for longer terms.
If you do own bitcoin, it serves as your growing asset that will provide you rewarding gains when price reaches a promising price.

There's really advantage of using crypto in terms of payment service.
Not only dozens of transactions, but thousands if you want for reduced fees.
I hope more merchants or shops will appreciate those benefits when it comes to crypto transactions.
But in case you are an employee and you are a long time crypto user.
You will prefer to get paid in fiat, because you already know how to buy your own crypto.
In this manner, you are directly getting your bitcoin without other third party charging you some fees.

I can't say anything about such a system at the state level, but at the level of business it is very convenient to use cryptocurrency for payment. In my business there are many clients who prefer to use cryptocurrency for payment. And I can make dozens of transactions in one day - receive bitcoins from one client and transfer etherium to another. It is very convenient that I have payperless crypto wallet, because I can easily convert currencies and deposit money from my bank card. If I had all these operations in fiat, the commission would be few times bigger as well as the time it takes to do it.

If only i am living in El Salvador, then i would love to accept bitcoin rather than fiat. Bitcoin there has become a legal tender so there's no problem with that. But considering my country which only few merchants are into bitcoin, then i don't think getting paid in bitcoin is a good idea.

However, if the government will start to adopt bitcoin as another option for fiat, then having bitcoin will be a great advantage. It will not only serve as an investment tool but definitely a good currency in the making. So let's look forward for it in the near future.

companies that pay with fiat are likely to continue to dominate imo...

maybe the percentage is 70:30. many companies are still dependent on banks and also do not fully know what Bitcoin is. If I had a company it would be very complicated to give my employees a salary with Bitcoin because surely they don't understand that and are afraid of the price volatility, I will definitely give an option whether to pay with fiat or btc