How to receive your salary in Bitcoin? - page 2.

The Sceptical Chymist

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Quote from: Master Miller on May 03, 2019, 06:40:47 PM

Because I want my income to stay as much away from banks as possible. My goal is to avoid taxation, which in my country is absurdly abusive.

I feel your pain, but yikes! Be careful with what you're doing, because government tax agencies are not stupid and they have ways of sniffing out tax evaders.

I have a question: do you make a lot of money just from Youtube videos? I'm not asking for a specific figure, but is it enough to live on? The idea of earning a living from making videos has long fascinated me, though I have no video-making talent and wouldn't have much to talk about which would draw a lot of views anyway.

And though I don't have any suggestions for you about getting paid in bitcoin, I would be careful about the volatility risk. That's the reason why I'd never want to get my paycheck in bitcoin unless I could instantly convert it to fiat--and if I could do that, there would be no point in a bitcoin paycheck anyway. On the other hand, it might not be that big a problem for you if you factor in the tax "savings". So good luck in your quest, and screw the tax man.

n0ne

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I don't find this to be the best way to get paid in bitcoin. You're trusting a third party to receive your salary is not fair, and for the same you could receive the salary and further change it to bitcoin. We've got number of legit exchange services with very minimal charge, even when you rely on the third party service render to receive salary from your employer and return you in bitcoin he'll collect a service charge.

QueenW

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On the one hand, getting a salary in Bitcoins is good, since you don’t have to pay taxes to the state, but on the other hand, how to deal with volatility?

Mpamaegbu

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Quote from: Master Miller on May 03, 2019, 06:40:47 PM

Why don't I simply receive my income in fiat currency and then buy Bitcoin with it? Because I want my income to stay as much away from banks as possible. My goal is to avoid taxation, which in my country is absurdly abusive.

I am wondering why don't the employees get paid directly in Bitcoin because that's the fastest way to get paid. Enrouting the salary through Fiat and then getting it into Bitcoin definitely will reduce the worker's earning power and get some unnecessary middlemen paid through commissions. It should be the way it's done here with signature campaigns and participants get the payment straight up with Bitcoin.

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This is not in our hands we need to be get the income only so the industries which will be developing in this situation where thinking about the improvement of their projects with the help of Bitcoin only help to make the payments and then come to be paid in in Bitcoin and cryptocurrency

Master Miller

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Thank you everybody for your inputs. The reason I didn't disclose where I'm from is that, since I'm a public person, I don't wish to have any details about my identity to slip off.

Even though I appreciate all replies, I believe most people replying didn't get the purpose of what I'm doing, which is to have my income to not touch my bank account, so it stays invisible to the government. Buying from exchanges requires that it goes through my bank account. Buying P2P requires that also.

As suggested previously, I'm checking Bitwage. They've been doing this since 2014 and seem to be quite trustworthy and organized. I will post it here once I have a solid update about my experience with their service, so whoever is interested can have more info.

jakelyson

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I rather pay taxes than have others have control over my money. Since I am also paying fees for their service, I rather use that fees to pay my taxes. I will not fear cases of tax evasion if the government finds out what I am doing.

The other thing is, I will have control over the value of bitcoin when I convert from fiat to bitcoin. I can wait until the price is lower before I convert my fiat to bitcoin.

qwertyup23

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Quote from: Master Miller on May 03, 2019, 06:40:47 PM

I am not quite sure if YouTube supports cryptocurrency (bitcoin to be specific) as they do not offer any payments related to bitcoin. For best results, you may ask them through an e-mail if it is possible to convert your hard-earned income to bitcoin for your convenience. If not, you can participate in this forum and provide services to receive bitcoin as a compensation pay.

Quote from: rijaljun on May 04, 2019, 07:34:42 AM

I always want people to pay my salary in Bitcoin and I think this is good to invest for a long -term while earning money for daily needs. Just make sure not to only hold Bitcoin or cash because you might lose your chance to get some profit from Bitcoin invesment.

Having your income fully converted to bitcoin may be relatively risky since the value is highly volatile- which can either make or break your monthly pay. If you want to focus on long-term investments, better diversify your portfolio or ask your employer to at least change 50% of your income to bitcoin. But again, everything is dependent on your employer if he accepts such.

rodel caling

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Firstly make wallet local or exchnage that allowed to convert bitcoin into fiat money and get the deposit wallet address to get recieve your salary. No need to explain a lot more or you can visit at google for more information all about how to recieve bitcoin via online wallet.
Most important is makes sure the company are know want you to recieve salary and you are youtuber it easy to understand how to follow all needed using google for you learning.

Ucy

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Avoiding your local bank for tax reasons and choosing to move to crypto is not a wise decision in my opinion. ... If price of cryptocurrency drops sharply you'd discover that your fund has been eaten up by something worse than the tax.
Id rather suggest that you split your salaries into two, have one part(70% up) in stablecoin and the other part (30% & below) in Bitcoin.
Stablecoin as the name suggests, is a stable currency for hedging against volatility in crypto market

Oceat

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Quote from: rijaljun on May 04, 2019, 07:34:42 AM

I always want people to pay my salary in Bitcoin and I think this is good to invest for a long -term while earning money for daily needs. Just make sure not to only hold Bitcoin or cash because you might lose your chance to get some profit from Bitcoin invesment.

If those companies would accept it why not but the main reason is that they don't because there is no available way and it is a hassle to them since they don't understand it first. OP might like to make his salary just like to the signature campaigns where all of our salaries were given through the address that we provided. And for the taxation, i don't think companies would want to exempt OP from paying taxation since that is how the companies explain it to the government on how they give their money to their employees.

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Quote from: goaldigger on May 04, 2019, 11:34:40 AM

Quote from: Master Miller on May 03, 2019, 06:40:47 PM

Hi all. Bitcoin newbie here posting for the first time.

I am a Youtuber earning a living from the money I make with my videos. That money is paid to me by Google through international bank transfers. There's no other payment method.

I'm looking for some way to receive that money in Bitcoin. Some kind of service that receives your salary for you from your employer, converts it to Bitcoin and pays it to you. That would be really useful to people who work for companies that refuse to pay in crypto.

Recently I found an Australian company called Get Paid In Bitcoin (https://getpaidinbitcoin.com.au/) that does just that. You give your employer their bank details, they receive your payment, convert it to Bitcoin and transfer it to your wallet, after a fee. However, unfortunately, they only work in Australia. Which doesn't make sense to me, since Bitcoin doesn't differ national to international transfers. Maybe someone knows of a similar service that works internationally?

Why don't I simply receive my income in fiat currency and then buy Bitcoin with it? Because I want my income to stay as much away from banks as possible. My goal is to avoid taxation, which in my country is absurdly abusive.

Any input would be greatly appreciated. Thanks.

Company doesnt give bitcoin salary to employees because its not yet available. Why do they hire a third party company just for making a bitcoin salary. Its so hassle and time consuming if they do that and that's not economical. If someday, bitcoin will be worldwide free, then im sure that we will be paying bitcoin too.

OP has got what he was looking for and that's it but i think that i must try to give an opinion about your post because I do not agree with it. The company can do that easily if they want but they are avoiding the volatility of crypto and remember crypto is not yet legalized in so many countries and that brings a lot of doubt to the company to choose bitcoin as their payment system.
Basically it so easy to create a multi-transaction input in bitcoin.

goaldigger

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Quote from: Master Miller on May 03, 2019, 06:40:47 PM

Hi all. Bitcoin newbie here posting for the first time.

I am a Youtuber earning a living from the money I make with my videos. That money is paid to me by Google through international bank transfers. There's no other payment method.

I'm looking for some way to receive that money in Bitcoin. Some kind of service that receives your salary for you from your employer, converts it to Bitcoin and pays it to you. That would be really useful to people who work for companies that refuse to pay in crypto.

Recently I found an Australian company called Get Paid In Bitcoin (https://getpaidinbitcoin.com.au/) that does just that. You give your employer their bank details, they receive your payment, convert it to Bitcoin and transfer it to your wallet, after a fee. However, unfortunately, they only work in Australia. Which doesn't make sense to me, since Bitcoin doesn't differ national to international transfers. Maybe someone knows of a similar service that works internationally?

Why don't I simply receive my income in fiat currency and then buy Bitcoin with it? Because I want my income to stay as much away from banks as possible. My goal is to avoid taxation, which in my country is absurdly abusive.

Any input would be greatly appreciated. Thanks.

Company doesnt give bitcoin salary to employees because its not yet available. Why do they hire a third party company just for making a bitcoin salary. Its so hassle and time consuming if they do that and thats not economical. If someday, bitcoin will be worldwide free, then im sure that we will be paying bitcoin too.

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Quote from: Ailmand on May 04, 2019, 06:54:10 AM

Why would you risk your salary to be processed or converted by a third party? I would rather pay taxes than risk my salary on this. I do understand that you want your salary to be in bitcoin to avoid excessive tax as you have mentioned, but this will put you in a riskier situation. You should've mentioned what country were you from for other's to have reference and idea to give you better alternatives.

but actually, there is some company in Japan i think that already implement this and here the articles i found about it
https://www.theguardian.com/technology/2017/dec/15/japanese-company-paying-employees-bitcoin
https://www.engadget.com/2017/12/15/japanese-company-gmo-internet-paying-salaries-bitcoin/

by doing this the taxation still there and it will be counted by the company not the employee, just like the calculation of taxes paid with money but the difference is that the company only pays it via bitcoin

rijaljun

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I always want people to pay my salary in Bitcoin and I think this is good to invest for a long -term while earning money for daily needs. Just make sure not to only hold Bitcoin or cash because you might lose your chance to get some profit from Bitcoin invesment.

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Actually, Bitcoin is a cryptocurrency, http://injuryattorneyca.com/ a form of electronic cash. It is a decentralized digital currency without a central bank or single administrator that can be sent from user to user on the peer-to-peer Bitcoin network without the need for intermediaries. I have no idea on How to receive your salary in Bitcoin?

Ailmand

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Why would you risk your salary to be processed or converted by a third party? I would rather pay taxes than risk my salary on this. I do understand that you want your salary to be in bitcoin to avoid excessive tax as you have mentioned, but this will put you in a riskier situation. You should've mentioned what country were you from for other's to have reference and idea to give you better alternatives.

el kaka22

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Quote from: Master Miller on May 03, 2019, 06:40:47 PM

My goal is to avoid taxation, which in my country is absurdly abusive.

I doubt it will not be possible unless otherwise you are getting paid in bitcoins from your employer directly. I checked twice that you have not mentioned that which country you are from. Because, people here may get you better solution only from their own experience and for that they might need to know where you are from exactly.

With respect to my country, I believe I cannot hide my bank transactions hence anything hit my bank account must be subject to taxation. But, I am able to convert my bank balances into bitcoins easily (in P2P way).

One simple solution might be (if your country's taxation rules are similar to my country), you may buy bitcoins using bank transfers with multiple sellers and you can claim those transactions as business expenses so that you may not need to pay taxes for some big portion of your fiat salary.

hugeblack

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Quote from: gentlemand on May 03, 2019, 07:06:18 PM

Have you checked whether Google will send to third party accounts? They may have a rule against that.

I'm not sure about this information but I watch a lot of YouTube accounts refuse to disclose their profits on videos because that this is against the YouTube rules so I think there is no service provides such exchange.

to @OP: Even if you have to pay taxes, buy BTC (using local way) may be profitable because of the possibility of the rising at any time.

BlackPanda

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Quote from: Xenrise on May 04, 2019, 12:25:31 AM

Quote from: Master Miller on May 03, 2019, 06:40:47 PM

Recently I found an Australian company called Get Paid In Bitcoin (https://getpaidinbitcoin.com.au/) that does just that.

If you think that this third party has a good reputation or a trusted site then you could try that but try that at your own risk. Another option would be, buy bitcoins on exchange. I haven't tried transferring money from bank to bittrex but withdrawing from bittrex to bank is possible. Bittrex.com.

In a system that is easy, we accept Bitcoin payments through the wallet or Exchange services and then we can exchange them for FIAT if needed. For me it is a simple method and what we need is an agreement that has been agreed upon. When a company and its employees have made a budget, it can happen. Provided that no one party is harmed, it is worth doing. Payment with Bitcoin is something that must be done immediately because we will face an era of increasingly sophisticated technology in the future.

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