I can see why one would consider BTC as a salary option because I get that too and it's definitely a good way to make it work. However, USDT doesn't make sense, of course we could just get paid in USDT and turn it into USD right away, there were few times when I was paid in USDT for example and all I did was just get it to my bank account and just use USD and didn't hold it as USDT for more than 5 minutes I think.
It is literally fiat currency that is created fake by some company, there is really no need to trust this, I can see why moving it from one place to another could work well for it, but holding it makes absolutely no sense to me a tall and will definitely avoid that as much as I possibly could. Not going to really trust USDT as long as I am alive for sure.
Topic: If all your wages were paid in USDT, would you accept it? (Read 540 times)
Honestly, I would accept anything that doesn't cost me a lot of fees etc.
USDT? Sure of course. Just send my salary to an exchange, immediately exchange for BTC and withdraw to my wallet.
Bitcoin first of course. I don't even care people say high fees it's nothing compared to bank/paypal.
USDT? Sure of course. Just send my salary to an exchange, immediately exchange for BTC and withdraw to my wallet.
Bitcoin first of course. I don't even care people say high fees it's nothing compared to bank/paypal.
If your salary was not US dollars, but USDT, would you dare to ask for it? Although USDT can facilitate transfers and cross-border payments, thinking about the fluctuations and risks makes me feel a little panicked! It can’t be used everywhere in daily life, What do you think? Come and chat!
It's fine for me and much better since I am more into cryptocurrency right now and I think my funds are more likely 40% fiat, and 60% cryptocurrency (Bitcoin, stablecoins, altcoins).So for me, since I am active in cryptocurrency market, it is helpful to me to have USDT because I can easily use it especially in my trading and investments.
Even though USDT is an altcoin that has a very dark past, I have seen a lot of news about USDT in the past, but still USDT is still on the cryptocurrency market so I really wouldn't mind receiving my salary in USDT, it would be very advantageous to buy more coins in times of price drops in the cryptocurrency market. Now about buying things in the real world, the usdt would probably be very limited, but there is an option to sell part of the usdt for usd and buy things in the real world with usd. In this market, things are moving towards legalization, so USDT is no longer being seen in a very bad way as in the past
This is because people know that governments are keeping an eye on this market, so the guys behind usdt would not be stupid enough to commit illegal acts in these times knowing that governments would easily catch them and imprison them with prison sentences of many years. This is why usdt is being used a lot by people on exchanges, because it has a low risk of owners disappearing from the market or carrying out the shady schemes that were accused of in the past. Today things are very different from the past when there was a lot of impunity in this cryptocurrency market. Today, a mistake on the part of the owner of a cryptocurrency company can easily result in that owner being arrested. so I don't have any problem with usdt if they paid me as salary
This is because people know that governments are keeping an eye on this market, so the guys behind usdt would not be stupid enough to commit illegal acts in these times knowing that governments would easily catch them and imprison them with prison sentences of many years. This is why usdt is being used a lot by people on exchanges, because it has a low risk of owners disappearing from the market or carrying out the shady schemes that were accused of in the past. Today things are very different from the past when there was a lot of impunity in this cryptocurrency market. Today, a mistake on the part of the owner of a cryptocurrency company can easily result in that owner being arrested. so I don't have any problem with usdt if they paid me as salary
...Personally, I would accept being paid in USDT, as I have in my past online jobs, and I had many options to trade them for Bitcoin or other coins, or to easily exchange them for fiat(our local currency). The question here concerns the method of payment, not storing all your salary or savings in USDT, which would be a bad choice due to the risks of de pegging of stable coins. But as long as you are being paid in USDT or another stablecoin, you can trade it safely with minimal risks in that period only.
I think that none of the forum participants will have any problems exchanging USDT for any other cryptocurrency or fiat currency. Therefore, our main task is to earn as much as possible, and at the same time we should not care in what currency the salary will be paid.
It seems that many responses here assume that someone paid in USDT must keep his earnings in USDT forever. However, I interpret the question as: If all your wages were paid in USDT. For me, this option is good because it allows an easy exchange of the stablecoin for other cryptocurrencies or even fiat currencies, unless there are issues or reasons that prevent using exchanges or finding a suitable one to convert stablecoins to local currency in your area.
Personally, I would accept being paid in USDT, as I have in my past online jobs, and I had many options to trade them for Bitcoin or other coins, or to easily exchange them for fiat(our local currency). The question here concerns the method of payment, not storing all your salary or savings in USDT, which would be a bad choice due to the risks of de pegging of stable coins. But as long as you are being paid in USDT or another stablecoin, you can trade it safely with minimal risks in that period only.
Personally, I would accept being paid in USDT, as I have in my past online jobs, and I had many options to trade them for Bitcoin or other coins, or to easily exchange them for fiat(our local currency). The question here concerns the method of payment, not storing all your salary or savings in USDT, which would be a bad choice due to the risks of de pegging of stable coins. But as long as you are being paid in USDT or another stablecoin, you can trade it safely with minimal risks in that period only.
If your salary was not US dollars, but USDT, would you dare to ask for it? Although USDT can facilitate transfers and cross-border payments, thinking about the fluctuations and risks makes me feel a little panicked! It can’t be used everywhere in daily life, What do you think? Come and chat!
In this I will bring one question do we believe USDT or can it be trusted? If yes then there is nothing panicking for me to accepting USDT as my salary.Because current situation of me is kinda receiving the payments of my works on cryptocurrencies and then making some investing on bitcoin and the rest of fund going to exchange for USDT and holding them in usdt. So my current scenario like cryptocurrencies>USDT>CASH(FIAT) so in my case there is nothing better option to accepting USDT. I also also say incase of US dollar as payment because of easy accessibility If I own a non-custodial wallet the I'm the owner of my own bank.
If your salary was not US dollars, but USDT, would you dare to ask for it? Although USDT can facilitate transfers and cross-border payments, thinking about the fluctuations and risks makes me feel a little panicked! It can’t be used everywhere in daily life, What do you think? Come and chat!
What do you mean by fluctuation? You mean depegging from US dollar value?
Let's do some fact check how many times USDT has depegged from US since they went life since 2014.
This is a chart of USDT since it was launched back in 2014 to now, it has depegged from USD price to $0.6 and that has something do with the authenticity of their audit regarding usd in the vault and the USDT printed, there was trust then but people has learn to trust USDT, they are the oldest and far the largest in term of market cap.
I'm not sure about other stable coin but USDT remain the best stable coin to use in crypto and yiu shouldn't have anything to fear using it, getting paid as a medium of exchange and also to hold value.
There can be some downsides to this as well as said by other members. Stablecoins can sometimes de-peg and lose value, and if something like that happens, you will lose your money in case it doesn't regain the peg again but the odds of that happening aren't very high.
Yes, there are risks, but I think they are minor. As long as USDT is a widely accepted cryptocurrency, there is no significant risk. The risk that it will de-peg and lose its value is negligible, and only exists if you decide to hold the USDT for a longer period. Personally, I would exchange it to a currency I have more confidence in as soon as I receive the payment.
If your salary was not US dollars, but USDT, would you dare to ask for it? Although USDT can facilitate transfers and cross-border payments, thinking about the fluctuations and risks makes me feel a little panicked! It can’t be used everywhere in daily life, What do you think? Come and chat!
It depends on what you do with the USDT that you receive as your wages. If you sell them for cash or use them to trade other cryptocurrencies, I don't see anything wrong with that because, at the end of the day, their price is pegged to the US dollar and they both would have the same value essentially apart from the fact that the US dollar can get affected by inflation and then lose purchasing power and USDT stays unaffected from such things.There can be some downsides to this as well as said by other members. Stablecoins can sometimes de-peg and lose value, and if something like that happens, you will lose your money in case it doesn't regain the peg again but the odds of that happening aren't very high.
We're even getting paid in Bitcoin and getting paid in USDT isn't a problem. Just don't pay in random altcoins that have no liquidity at all.
This is the reality that most of us wanted to get paid in Bitcoin, ETH or any other top altcoins so receiving USDT as a payment is totally fine and not a problem at all.
Maybe what OP meant was related to your real-world job, not your signature. where the use of USDT is still limited and not all goods and services businesses accept USDT.This is the reality that most of us wanted to get paid in Bitcoin, ETH or any other top altcoins so receiving USDT as a payment is totally fine and not a problem at all.
for those of us who use crypto every day in trading or store it in a wallet. USDT payments for our work will not be a problem. we can still send it to an exchange to convert it into fiat and then use it for our needs.
If your salary was not US dollars, but USDT, would you dare to ask for it?
I don't think there's no reason why not to accept it so, yes, I will accept it.What are the risks? Hacking? As an investor, it's your responsibility to take care of your coins and that includes the USDT that you will get. De-peg? I can't remember the last time USDT de-pegged, so the chances of it happening is kind of low, but not impossible as well.
What I would do though is to convert it immediately either into different altcoin (or Bitcoin), or into our own fiat currency. I don't think that there's any company that implemented this though. I don't think that there's a company that pays their employees through USDT and now USD or their own fiat currency.
So it would really be that depending into someones
preference since not all would really be having on the same interest when it comes to this.
That's what I mean, because everyone has their own preferences.preference since not all would really be having on the same interest when it comes to this.
Although they are also happy with crypto or as traders, sometimes they don't want the salary from their real work to go into crypto.
This is certainly optional if it is implemented, but until now I have not found a company that pays its employees with crypto, because it is quite high-risk.
Regulation is something that will really be that an issue in regarding this since not all places in the world would really be allowing that crypto integration even if this one turns out to be a stablecoin
then it wont really be that easily be having that kind of availability as a replacement or an option for worker salary pay.
I also don't expect any company to be able to pay with crypto because it is risky. then it wont really be that easily be having that kind of availability as a replacement or an option for worker salary pay.
Regulations that have been in effect really must be applied, if it is not allowed then do not do it.
I am in a country that does not allow traditional fiat money to be replaced with other currencies,
because the use of Fiat currency is the best way for everyone nowadays.
If your salary was not US dollars, but USDT, would you dare to ask for it? Although USDT can facilitate transfers and cross-border payments, thinking about the fluctuations and risks makes me feel a little panicked! It can’t be used everywhere in daily life, What do you think? Come and chat!
In fact, the fluctuations are not too high compared to other cryptocurrencies. However, for people who are used to paying using US Dollars, this might be more of a hassle for some people. Or even for those who are completely new to crypto, this will be quite difficult to understand and do. So it will actually cause a small loss when selling it. However, if you are already familiar with crypto and its use, then I think this is not a big problem. This will depend on how we manage the USDT after it is received.However, when it comes to risks, it cannot be denied that there will definitely be high risks. Because after all, crypto is risky, whatever the coin. This is related to security and other things. There will definitely be risks.
So, yes, you should consider the pluses and minuses first.
If I'm personal, it's actually not a problem. and if I'm worried about some things, then I will immediately convert to fiat. It's just that this service also requires a fee for the transfer.
It wouldn’t be something that I’d prioritise but if I was enjoying the job & paid a good salary in comparison to other fiat salaried jobs that I could get then yeah, sure, why not. As long as I could exchange the USDT for my local fiat currency & withdraw to my bank quickly after getting paid without high fees then it wouldn’t be much different to getting paid normally in fiat.
We're even getting paid in Bitcoin and getting paid in USDT isn't a problem. Just don't pay in random altcoins that have no liquidity at all.
This is the reality that most of us wanted to get paid in Bitcoin, ETH or any other top altcoins so receiving USDT as a payment is totally fine and not a problem at all.
Maybe what OP meant was related to your real-world job, not your signature. where the use of USDT is still limited and not all goods and services businesses accept USDT.This is the reality that most of us wanted to get paid in Bitcoin, ETH or any other top altcoins so receiving USDT as a payment is totally fine and not a problem at all.
for those of us who use crypto every day in trading or store it in a wallet. USDT payments for our work will not be a problem. we can still send it to an exchange to convert it into fiat and then use it for our needs.
You’re right, he is thinking of the potential de-pegging risk which is normal in stablecoins if it’s not backed properly by USD or the custodian bank for the reserves got bankrupt. This happened on USDC before but they manage to survive due to the Feds help on banks bankruptcy.
I don’t want to receive USDT as payment to my real job salary since I use it immediately for my personal expenses while having USDT will give me more hassle to convert back to fiat just to spend it physically since merchants doesn’t accept crypto until now.
If your salary was not US dollars, but USDT, would you dare to ask for it? Although USDT can facilitate transfers and cross-border payments, thinking about the fluctuations and risks makes me feel a little panicked! It can’t be used everywhere in daily life, What do you think? Come and chat!
I do not see too many reasons why I would want to do this, the only one that exist is that being paid in USDT will make my life slightly easier when buying bitcoin, however it would make the use of the rest of my money way more complex as no business I know accepts USDT.And I suppose I would not be the only one with that kind of problem, and even if it did not existed, I am sure many people on this forum will never accept to receive stable coins as their main source of income, since we know that those coins can collapse at any given time, and we have witnessed examples of this recently.
How will USDT collapse? If I remember correctly, rumors of USDT's demise were around 10 years ago but why is it still the most used stablecoin on the market? Additionally, I also believe you are also using USDT to invest in bitcoin as it is currently the most popular stablecoin on the market.
We're even getting paid in Bitcoin and getting paid in USDT isn't a problem. Just don't pay in random altcoins that have no liquidity at all.
This is the reality that most of us wanted to get paid in Bitcoin, ETH or any other top altcoins so receiving USDT as a payment is totally fine and not a problem at all.
Maybe what OP meant was related to your real-world job, not your signature. where the use of USDT is still limited and not all goods and services businesses accept USDT.This is the reality that most of us wanted to get paid in Bitcoin, ETH or any other top altcoins so receiving USDT as a payment is totally fine and not a problem at all.
for those of us who use crypto every day in trading or store it in a wallet. USDT payments for our work will not be a problem. we can still send it to an exchange to convert it into fiat and then use it for our needs.
I'll be happy to receive my salary in usdt if my country's fiat currency is devaluing due to inflation, so that it'll not affect the value of my money, so as the currency is devaluing the stablecoins will hedge it against the inflation Secondly it'll be beneficial to me because I'm into cryptocurrency, it'll make it easier to convert it into any cryptocurrency for trading and investments. But it won't be beneficial to people whose economy are stable and also to people who're not into crypto businesses, they cannot easily spend it, they'll have to pay transaction fees in order to convert it to fiat.
Why not? infact, I will run towards accepting it because I know it's value as a stable coin for that matter. So when you know the worth of something and you have the full knowledge of how it works, you are already in the right place and also on its advantages. Because you can be able to tell everyone about it's advantages and disadvantages. For that you will have nothing to be scared of. you can make it what ever you want to make it.
Usdt, been one of the stable coin, can be changed to any other coin with ease if you know the method to apply during the process. So I will even like it that way. that is, it should be used to for payment as it stands now.
We're even getting paid in Bitcoin and getting paid in USDT isn't a problem. Just don't pay in random altcoins that have no liquidity at all.
This is the reality that most of us wanted to get paid in Bitcoin, ETH or any other top altcoins so receiving USDT as a payment is totally fine and not a problem at all.
the instant someone receive their BTC if paid at current rate, they can easily convert it crypto is as liquid as ever, there's definitely no implication.This is the reality that most of us wanted to get paid in Bitcoin, ETH or any other top altcoins so receiving USDT as a payment is totally fine and not a problem at all.
its just that maybe some people that aren't really well versed with cryptocurrency investment might fear losing their money even though its gonna be fine mostly if its temporary the volatility won't affect that much in my opinion.
Even if it's not depreciating, for the fact that it value is not even up to 1/99 of usdt, who would not take it when given? I think most of the people that have the knowledge will eagerly and desperately going to accept it because of its significant value especially compare to their currency. So no problem.
...And I suppose I would not be the only one with that kind of problem, and even if it did not existed, I am sure many people on this forum will never accept to receive stable coins as their main source of income, since we know that those coins can collapse at any given time, and we have witnessed examples of this recently.
I believe that there is no difference in which coins you receive your salary, if this coin can be converted to another currency at any time. And I am sure that if the management of the company where you work really starts paying salaries in stablecoins, then you will not change your place of work, but simply exchange stablecoins for the currency of the country where you live.
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