That is a great decision to give your employees a salary in BTC. If he/she will be smart he/she must hold it for the future. We all know that the future is BTC. Now the world is becoming digital day by day, we also must develop ourselves.
I hope your employees will use it in the right way.
Topic: Giving Bitcoin to Employees - page 5. (Read 770 times)
Considering getting each employee a wallet and sending them bitcoin per month. Or I can give them fiat per month to their wallet and they buy bitcoin...
Cant really do it through IRA or RRSP unless it goes through something similar to iShare EFT. But I'd prefer them to have the pure asset over the long haul.
Can you give extra details if what was the nature of your company? What age group of the people working in your company and how much people working on your company. For us to know why they reject your offer? And can you clear what you mean by give? Because to me give means different from the salary that you pay. If you give them free coins why will they ignore it?Cant really do it through IRA or RRSP unless it goes through something similar to iShare EFT. But I'd prefer them to have the pure asset over the long haul.
But, you should consider this so that they can practice using btc and if they will like it they are the one's that will demand to you that they want their salary in the form of btc. Do not under estimate the pension and other incentives that you provide because they are usable in the future. No risks involved with them compared with btc.
Sorry --- the employees will retain their fiat pay checks.
The intent is to give them BTC for future savings and growth. Since there likely isn't much of a return for employees in the future with traditional pensions, perhaps they will have better luck with the growth of BTC they personally hold for the long term.
So that the reason on why you do concluded out on this kind of decision? Have you consider out on asking them if they would really be prepared on accepting something like that?The intent is to give them BTC for future savings and growth. Since there likely isn't much of a return for employees in the future with traditional pensions, perhaps they will have better luck with the growth of BTC they personally hold for the long term.
You wouldnt know unless you do try and speaking about future savings and growth then we do know the potential neither those employee of yours whether they do really accept
the risk or not.
Neither they could have it on their personal wallets or something that you do recommend on.
You are simply giving something extra and that is fine if you ask me. If my boss told me "everything will stay the same, I will just add bitcoin pension on top of it all" then I would accept it without a heartbeat, not like there is anything to accept since it is all free. So, the method is the important one, not giving choice part.
Truth is, no matter how noble your intention is, you must first discuss that means of payment to the employees. Otherwise, they're likely going to kick against it and see it as dictatorial on your part. And they will be absolutely right to have that conception of you in that regard if it happens so. By letting them know ahead, you would've sounded the caveat to them on the downside of Bitcoin too. So they know whatever comes out of it in dip immediately payment is made won't be your fault.
I think that giving bitcoin to your employees as a bonus or incentive is much better idea, like what @GreatArkansas have mentioned above. It would be more effective as well in accordance to your intention of helping them save for the future. Moreover, this could encourage them to seek on how does it work in order to reap the benefits of what you have given them.
That's right, of course there is nothing wrong with giving Bitcoin to employees and this is something new for sure,with the value of Bitcoin continuing to rise I think employees will also welcome the decision,
Of course, everyone has their own opinion about giving Bitcoins to employees and that's okay
Sorry --- the employees will retain their fiat pay checks.
The intent is to give them BTC for future savings and growth. Since there likely isn't much of a return for employees in the future with traditional pensions, perhaps they will have better luck with the growth of BTC they personally hold for the long term.
You really care for them. Honestly, I think this is already out of company's concern but you're making a difference and really giving them some idea on what they should wisely with their money. You can start by making a survey first and how much percentage of your employees are interested in bitcoin and willing to accept btc through their salary like 50% fiat / 50% in bitcoin. That's going to give you an idea on how many of them are willing to do that. The intent is to give them BTC for future savings and growth. Since there likely isn't much of a return for employees in the future with traditional pensions, perhaps they will have better luck with the growth of BTC they personally hold for the long term.
Sorry --- the employees will retain their fiat pay checks.
The intent is to give them BTC for future savings and growth. Since there likely isn't much of a return for employees in the future with traditional pensions, perhaps they will have better luck with the growth of BTC they personally hold for the long term.
Even if you think like that, if someone doesn't know much about bitcoin, they will still refuse it. It's like you introduce someone to something new, but he doesn't care about that. Bitcoin cannot be forced on any people because only people who are aware of a new thing and believe in something can become bigger in the future that will use bitcoin. The intent is to give them BTC for future savings and growth. Since there likely isn't much of a return for employees in the future with traditional pensions, perhaps they will have better luck with the growth of BTC they personally hold for the long term.
Perhaps, you can take another approach to introduce bitcoin and open their eyes that bitcoin can be their future savings. If you can use that, I think they slowly open their minds. Bitcoin can give something worth it to them.
The intent is to give them BTC for future savings and growth. Since there likely isn't much of a return for employees in the future with traditional pensions, perhaps they will have better luck with the growth of BTC they personally hold for the long term.
As much as I like Bitcoin, I wouldn't put all my eggs in this one basket when it comes to pensions. I do agree Bitcoin has a much higher upward potential than traditional stocks, but it's also more volatile and much more uncertain.However, even if it's just 10% of the pension, it's very well possible this 10% is worth more than the other 90% by the time you retire. But it's not certain.
you will need to carry out informational work to explain to employees what BTC is and about its prospects in the future.
Don't underestimate this! "Being your own bank" in a secure way for several decades is not that easy.Also keep in mind the cost of collecting small Bitcoin inputs later on: if you retire and have hundreds of inputs each worth 0.0005BTC, it could be very expensive (in terms of transaction fees) to spend. If you're considering paying small amounts per month, it's better to make it annual larger amounts.
I think that giving bitcoin to your employees as a bonus or incentive is much better idea, like what @GreatArkansas have mentioned above. It would be more effective as well in accordance to your intention of helping them save for the future. Moreover, this could encourage them to seek on how does it work in order to reap the benefits of what you have given them.
It depends on what kind of employee you have. If you own a SME business with a minimal profit, Most of the employee on this kind of workplace is heavily in need of money so the tendency for them to immediately convert Bitcoin into fiat is very and also they might give them some inconvenience in case they start from the scratch in crypto. It's important to ask for there consent first on doing this kind of method and always give them a choice. In case they suffer loss in crypto because of there lack of knowledge, He/she might spread negativity about Bitcoin to his/her colleagues due to his bad experience.
I think that giving bitcoin to your employees as a bonus or incentive is much better idea, like what @GreatArkansas have mentioned above. It would be more effective as well in accordance to your intention of helping them save for the future. Moreover, this could encourage them to seek on how does it work in order to reap the benefits of what you have given them.
(....)
The best I can think of is making it a bonus: you can for instance hand them a loaded paper wallet with company logo, but it's kinda important they understand what they're holding before they start messing with it. And it's important you know what you're doing too, so you don't just print this with the company's network printer.
(....)
Exactly! This is also what I am thinking, instead of paychecks, since some of the employees could have no idea at all what is Bitcoin or how it works or how to use it, they could disagree with it, or it can work also be optional too.The best I can think of is making it a bonus: you can for instance hand them a loaded paper wallet with company logo, but it's kinda important they understand what they're holding before they start messing with it. And it's important you know what you're doing too, so you don't just print this with the company's network printer.
(....)
Another thing is making it a bonus or incentive or company gift or benefits, it could help them to start to explore Bitcoin and it will become a huge help for the Bitcoin community as it will spread to other people.
Sorry --- the employees will retain their fiat pay checks. BTC is legal in my country.
But, to make sure, you need to tell and explain to them about Bitcoin and also the cryptocurrency world, letting them learn by themselves so that they will exactly understand the crypto world, not only based on your suggestion only.
Crypto is a risky world although it is also an interesting world and promising for many people. But once more, it needs deep learning about Bitcoin and other cryptos.
That is why preparing them to exactly know that their decision to follow you is good for themselves or not, they are exactly ready or not.
Sorry --- the employees will retain their fiat pay checks.
...
...
If you additionally, as an incentive, send bitcoins to the wallets of your employees, then none of the employees will object to such undertakings. But in any case, you will need to carry out informational work to explain to employees what BTC is and about its prospects in the future.
Sorry --- the employees will retain their fiat pay checks.
The intent is to give them BTC for future savings and growth. Since there likely isn't much of a return for employees in the future with traditional pensions, perhaps they will have better luck with the growth of BTC they personally hold for the long term.
Its their choice then so be it but if you really concern about their future and you’re the employer you can still have the option to give them BITCOIN, you can actually give Christmas Bonus or other incentives thru Bitcoin because that is company discretion and they can’t do anything about it, let them decide either to sell it or to hold it. People are still hesitant to accept Bitcoin because of its risk, I understand your employees.The intent is to give them BTC for future savings and growth. Since there likely isn't much of a return for employees in the future with traditional pensions, perhaps they will have better luck with the growth of BTC they personally hold for the long term.
Sorry --- the employees will retain their fiat pay checks.
The intent is to give them BTC for future savings and growth. Since there likely isn't much of a return for employees in the future with traditional pensions, perhaps they will have better luck with the growth of BTC they personally hold for the long term.
Its their choice then so be it but if you really concern about their future and you’re the employer you can still have the option to give them BITCOIN, you can actually give Christmas Bonus or other incentives thru Bitcoin because that is company discretion and they can’t do anything about it, let them decide either to sell it or to hold it. People are still hesitant to accept Bitcoin because of its risk, I understand your employees. The intent is to give them BTC for future savings and growth. Since there likely isn't much of a return for employees in the future with traditional pensions, perhaps they will have better luck with the growth of BTC they personally hold for the long term.
Sorry --- the employees will retain their fiat pay checks.
The intent is to give them BTC for future savings and growth. Since there likely isn't much of a return for employees in the future with traditional pensions, perhaps they will have better luck with the growth of BTC they personally hold for the long term.
So that the reason on why you do concluded out on this kind of decision? Have you consider out on asking them if they would really be prepared on accepting something like that?The intent is to give them BTC for future savings and growth. Since there likely isn't much of a return for employees in the future with traditional pensions, perhaps they will have better luck with the growth of BTC they personally hold for the long term.
You wouldnt know unless you do try and speaking about future savings and growth then we do know the potential neither those employee of yours whether they do really accept
the risk or not.
Neither they could have it on their personal wallets or something that you do recommend on.
Sorry --- the employees will retain their fiat pay checks.
The intent is to give them BTC for future savings and growth. Since there likely isn't much of a return for employees in the future with traditional pensions, perhaps they will have better luck with the growth of BTC they personally hold for the long term.
The intent is to give them BTC for future savings and growth. Since there likely isn't much of a return for employees in the future with traditional pensions, perhaps they will have better luck with the growth of BTC they personally hold for the long term.
Before you decide to pay your employees in bitcoin, you should know if bitcoin is legal or illegal in your country. If it is legal, you should ask your employees whether they want to accept their payment in bitcoin or still in fiat or you can divide their payment into two forms, in bitcoin and fiat. If they don't want to accept their payment in bitcoin instead in fiat, you can't force them and still give them payment in fiat. It will depend on how your employees know about bitcoin, but perhaps, most of them still don't know about bitcoin.
Anyone doing this now?
Considering getting each employee a wallet and sending them bitcoin per month. Or I can give them fiat per month to their wallet and they buy bitcoin...
Cant really do it through IRA or RRSP unless it goes through something similar to iShare EFT. But I'd prefer them to have the pure asset over the long haul.
Any thoughts, ideas, what apps to use, wallets etc...
This definitely isn't going to happen in my country, my country has already kept a 30% tax on cryptos which means anyone who sells his cryptocurrency will have to pay a tax of 30% on sale proceeds subtracted by the cost of acquisition, in case employee would give him cryptos then you will have to pay tax of 30% on the whole amount which obviously will become a huge unnecessary burden on the employee. Moreover talking about it from the point of view of companies too, they will only be ablt ot do this thing if they are earning in cryptos themselves because only then you would have that much crypto readily available with you to pay off employees otherwise you will either end up gaining or losing in dollar terms if you have contracts of payments in dollars only. Considering getting each employee a wallet and sending them bitcoin per month. Or I can give them fiat per month to their wallet and they buy bitcoin...
Cant really do it through IRA or RRSP unless it goes through something similar to iShare EFT. But I'd prefer them to have the pure asset over the long haul.
Any thoughts, ideas, what apps to use, wallets etc...
Anyone doing this now?
Considering getting each employee a wallet and sending them bitcoin per month. Or I can give them fiat per month to their wallet and they buy bitcoin...
Cant really do it through IRA or RRSP unless it goes through something similar to iShare EFT. But I'd prefer them to have the pure asset over the long haul.
Any thoughts, ideas, what apps to use, wallets etc...
They can have any wallet they want but if you are going to send multiple outputs in a single transaction then you need a wallet which supports it, no worries Electrum will do the job which supports all types of address and you have the private keys to control your address. But you can't say that employee have to buy Bitcoin with the Fiat they receive because they need to spend it for their survival and only remaining should goes to investment. Considering getting each employee a wallet and sending them bitcoin per month. Or I can give them fiat per month to their wallet and they buy bitcoin...
Cant really do it through IRA or RRSP unless it goes through something similar to iShare EFT. But I'd prefer them to have the pure asset over the long haul.
Any thoughts, ideas, what apps to use, wallets etc...
Jump to: