Topic: I recently convinced my employer to start paying me in BTC, it has been great - page 5. (Read 692 times)

Even if I buy it myself, it would have a came at a hefty cost and time. But getting them to send it to me directly fixes that and I get a lot more buying power.

Do you mean convinced?? But yeah, I think a lot of bosses will still not agree But I am pretty lucky.

Yeah, I think is an accurate and nuanced description of how things fly here.

It’s good that the company where you are working agreed to pay you. As many companies follows a strict code of conduct, hence they pay in their desired payment method. So yes kudos to your company/agency’s management team who kept your request. At this point of time accumulating the Bitcoins can surely give you lots of profits in later period of time. So yes when you get your salary, just cash out that amount, that you need for daily basics. Wishing you best of luck and hope you make more profits in the near future mate.

A country being underdeveloped doesn't mean that BTC must be illegal there. Take note that a country may not have clear regulations about BTC and they may be hostile to BTC businesses, but until the country bans BTC or declares it as an illegal asset, you can surely send, receive and spend BTC in such a country. By the way, it is important that op understands his country's regulation on BTC, or just mention the country, let us search about it for them.

It's not a bad plan, I was like how will your employers going to buy Bitcoin only because of you when you are not the only worker under them? But if they can use their Fiat to purchase Bitcoin and send to your wallet then they have my salute, because it's rare to see such people who listen to people working under them like that, that's a big rarity, most people will tell you to get whatever you want after they pay your salary in Fiat, they won't care at all.

I will also like to say that it doesn't matter, if it's a no from them, why not just collect your money and exchange to Bitcoin yourself? It's even safer because now your employer now you are into Bitcoin, most times this is not safe practice.

The way you confused this employer of yours is still surprising to me, like I've said, it's going to look more tasking for them because not all the workers or others are going to accept Bitcoin payment, so it's just you, many bosses will say a big NO generally.

This is incredible and wonderful news. The only question is how your employer makes payments to you in bitcoins. Because if there are any disputes between you and the employer, it will be difficult to prove the amounts that he paid you in your currency. Because the price of bitcoin is constantly changing, and it seems to me that with every salary that an employer pays, it is necessary to mark how much it is in your currency or the bitcoin exchange rate at that moment. But in any case, this is a great step towards making bitcoin ubiquitous.

Thanks a lot, I will look into it. If I am getting good deals, then is definitely what I would prefer to use for P2P.

Bisq is so far the most Decentralized EXchange with no KYC that I know of and every trade is peer to peer with the company providing the servers to connect peers and the option to use escrow.

This is a little difficult because many countries have not legalized Bitcoin so there is a fear among people to pay wages using Bitcoin. It is true that there are many positive things that can be obtained from this transaction, for example, small transaction fees or recipients can use Bitcoin with the intention and own goals (if indeed he is a Bitcoin user) but again we cannot equate everyone because Bitcoin has not been legalized and not many people agree with this.
However, in countries that accept many purchases using Bitcoin, this might make it easier.

Compared to traditional forms such as bank transfers, using Bitcoin can minimize transaction costs, especially when transferring money between different countries. The message here is that smallscale individual cases see limited financial problems and have solutions through the use of bitcoin. Not only OP, but I think we would all be very happy if our work was paid in BTC, as BTC becomes more and more popular, people see many benefits through using it. We still have to look backwards because this is a personal issue, so we need more time for people to become familiar with the technology and use BTC.

Pretty cool, so these have no actual KYC process in any capacity, even for P2P trading? Or is it just a veneer?

Binance is a centralized exchange, even what they refer to as "DEX" is not exactly a P2P trade or decentralized. CEXes have their merits too, as long as people are aware of the risks and disadvantages involved in using them.

As for alternative for a true decentralized P2P trading platform, check out Bisq.
https://bisq.network/
https://github.com/bisq-network/bisq

Yeah so when I sell any amount of btc, I usually get 1-2% more than the value of that btc in that fiat currency. This is a massive improvement over actually losing hefty money. Do you have any tips where I should look at for P2P? Currently I use Binance, I know we are not fans of centralized exchanges here and justifiably so. But I have been using it specifically for P2P and to be fair it hasn't been bad. Decent search process, escrow and chat are available.

I appreciate your concern, but I really believe I am absolutely safe. Just to add some context, I have been getting BTC ever since I started freelancing, its recently that I convinced my employer for my main job to do so too.


Not disclosing my country was intentional, I wanted to keep that private. And yes its true that they had some prior knowledge about that, I am in the web dev business, so they were proficient and computers and had knowledge about crypto. Otherwise trying to tout them about it would indeed have been an arduous process.

In the case of next time, try to include where you from, makes the discussion more direct and reduces the stress of us wondering where you are from.

You were successful because your employers know about bitcoins, If they have had no idea, trying to convince them to use a new payment method for just you that they do not know would have been more cumbersome.

If you are indeed getting "great deals" then this whole thing makes sense but usually in all cases of P2P trading specially when people trade bitcoin to their local fiat currency, they get terrible deals with a huge spread. Meaning the price they sell their bitcoins is far lower than the current price on CEX and a lot lower from what they have to buy bitcoin at in P2P orders.

You shouldn't make assumptions about these things specially if you are getting serious about receiving bitcoin as your official salary. I don't know which country we are discussing here but there may actually be some regulations in place, considering how almost all countries have some regulations regarding bitcoin already. So try to consult a legal expert in this matter to avoid future problems.

This is pretty smart. You can save some of the BTC that you don't need to spend and convert the rest to fiat as of course, you need it for your daily expenses like food and essentials. I'm glad that there are companies that are taking the initiative to be different and consider what is best for their employees. Also, kudos to you for finding a way around the system so things will at least get easier.

Yeah, I don't think its legal. But I am not worried about it at all, people use it all the time, there are ads and as far as I know nobody has ever gotten in trouble for just transacting it in BTC here, exchanges and crypto sites operate here without any hassle.

I think there is some nuance and complexity in what these terms mean all over the world, and it has some implications. But I don't think it affects people like me in any way or creates any apprehensions for me to get in legal trouble.

You claim that your country is an underdeveloped country so we can assume that bitcoin is not legal in your country, if bitcoin is not legal then it will be safe for you to pay salary through bitcoin. Just saying from my opinion about bitcoin legality because as you mentioned your country is underdeveloped and as far as I know underdeveloped countries never accept bitcoin. It is a very good decision if you proceed with caution. Accepting payments through Bitcoin instead of accepting payments in local currency is another level of thinking. If you accept payment through bitcoin, you can hold that bitcoin for a long time if you want, and if you want, you can sell your btc through P2P.  Undoubtedly, you have taken a commendable initiative.

Well, maybe its because you have no knowledge about how things work here. First getting a bank account that accepts international payments is very hard here, there are a lot of fees, it takes a lot of time for funds to arrive, banks ask you stupid questions etc. These are just a few major examples. And no its not black money, its completely legal money from an established and registered business. I guess it would even be harder for someone who wants to receive black money This has been my experience, experience of my friends and countless people who do business internationally. Just do some research on some freelance boards on how much of a pain it is to get money in underdeveloped nations and you would find this more sound. It isn't hard to look for.

Now onto your second point, did you read what I posted before imprudently writing your message here? Yes, I am converting to fiat because I have to spend some money of course for living, but the good part is all the bullshit and problems go away. Its so much quicker and cheaper. And I can save the rest in the BTC.

This is pretty informative stuff, thanks! I will look into it more.


Yup this is absolutely true, the online payment system and banking is so limited here. I think people living in underdeveloped nations like me can start using BTC with palpable use cases already. I am certainly doing it.

This is what Bitcoin better than any asset, you don't have to worry because converting Bitcoin to fiat is fast and easy. So whenever you want to buy something, just convert it and at the same time you're still hold the rest of your coins.

But there's no way to know that.

Yep, sending foreign currency using local banks is possible as long as the banks accept it, the matter is only higher fee. Even it's not possible, I think Paypal is more popular in freelancing, but definitely it's better to use Bitcoin when it comes to cross border transaction.