If all your wages were paid in USDT, would you accept it?

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Quote from: MRY on May 24, 2024, 06:56:33 PM

That's right, we can use USDT on the TRC20 network to take advantage of low transaction costs and of course the price will still remain stable and will not pose a very high risk if we want to exchange it to FIAT money. If there are companies like that then they have made good use of digital currency and made it easier to distribute payroll at lower costs than usual.

Nope, USDT on TRC-20 never gives the advantage of low transaction cost. But If you talk about the Matic network or BSC network then I will say it can work. And if they don't have a problem with non-stable coins like Litecoin it will be also cheaper for a company to distribute salaries with their employs and Oboiusly who don't have much panicking on the volatility.
But who afraid of the volatility their best option is to get paid on USDT But it depends on the companies and their policies what they are way they will take for paying.

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Quote from: MRY on May 24, 2024, 06:56:33 PM

That's right, we can use USDT on the TRC20 network to take advantage of low transaction costs and of course the price will still remain stable and will not pose a very high risk if we want to exchange it to FIAT money. If there are companies like that then they have made good use of digital currency and made it easier to distribute payroll at lower costs than usual.

Wait, Still TRC-20 transactions cost more when a company is going to pay their employees via USDT TRC-20. Don't you know how the companies pay vio banks? They just sent a paper to the bank with their staff name and account and the amount of their salary with a signed check, the bank transfers all the money to those accounts and they do not charge anything extra apart from the monthly bank charge. So, what are you talking about that they can do it at lower costs?

At the same time, if a company want to pay 100 employees and there are 100 different wallet addresses, they must spend 100 USDT as transaction fees. I don't know if they can do it in batches and save the fees. But, it's not cheaper than bank.

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Quote from: bitterguy28 on May 23, 2024, 03:52:54 AM

Not sure if I can handle accepting all my wages in bitcoin because I need funds for our daily expenses that I only take from my dayjob(my investments are all in crypto and not to be spent for some time)

Maybe I need to have settlement at least half of my wage is for USDT and half is for Fiat because that USDT will be ready for my investment each time.

usually USDT is just few steps away from fiat anyway you use binance already you can easily convert it to fiat also you don't really get inflicted by the volatility that may affects the value of the money you receive.
so its basically the same but probably for some people that just don't care about investing in crypto they prefer to skip such steps and get fiat directly instead.

Quote from: Learn Bitcoin on May 24, 2024, 07:29:28 AM

Quote from: coolcoinz on May 23, 2024, 02:11:53 PM

I was talking from the point of view of someone who earns in EURO and would either get fiat money or USDt. In such case I'd rather take EUR since I have plenty of BTC and would rather hold that and spend my fiat. Spending EUR here is much easier and cheaper than converting USDt through an exchange since I'd have to pay additional fee on that.

This is probably because Western countries are becoming more cashless every day. I guess more than 85% of people do not carry cash anymore and use cards everywhere. But in my country, more than 85% of people carry cash, and not all the shops accept card payments. So, even if I get it in fiat, I still have to visit an ATM and withdraw my funds to spend it.

Sometimes, we get a better exchange rate from those exchanges, and most of the time, banks pay the worst rate when we exchange money from USD to our local currency. This should explain why our locals prefer USDT over USD.

yeah the pain point is in the conversion rate and fees if our local currency is different than the currency used to issue stablecoin we might better off having the fiat directly to our bank account.
but eventually I think most of currency in this world gonna have their stablecoin version in the future probably thats gonna be the case knowing the market cap of USD stablecoin is so massive.

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Quote from: coolcoinz on May 23, 2024, 02:11:53 PM

Quote from: Learn Bitcoin on May 23, 2024, 01:09:52 AM

Why not? I do not spend in USD in the store either. Here, it's kind of different. If you are working in the IT sector or a company that is related to crypto currency, you should not have a problem accepting a salary in USDT. It's not rocket science to sell USDT for your preferred currency. I am still getting my salary in USDT and constantly sell them for my local currency, and my local currency arrives within a couple of minutes.

I am not going to hold USDT. I convert them to my local currency right after I receive them. But sometimes I hold USDT if I plan to invest in cryptocurrency. Actually, it varies from place to place and person to person.

I get it, if you're in a country where you don't use USD and an employee would give you a choice to either get paid in dollar that you have to convert, or USDt that you also have to convert, USDt will produce lower fees and probably be faster to exhange online. Also, in such situation USDt would give you an option to convert it into bitcoin fast and cheap.

I was talking from the point of view of someone who earns in EURO and would either get fiat money or USDt. In such case I'd rather take EUR since I have plenty of BTC and would rather hold that and spend my fiat. Spending EUR here is much easier and cheaper than converting USDt through an exchange since I'd have to pay additional fee on that.

That's right, we can use USDT on the TRC20 network to take advantage of low transaction costs and of course the price will still remain stable and will not pose a very high risk if we want to exchange it to FIAT money. If there are companies like that then they have made good use of digital currency and made it easier to distribute payroll at lower costs than usual.

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Quote from: Fullcoinese on May 24, 2024, 07:49:33 AM

Quote from: bitterguy28 on May 23, 2024, 03:52:54 AM

Not sure if I can handle accepting all my wages in bitcoin because I need funds for our daily expenses that I only take from my dayjob(my investments are all in crypto and not to be spent for some time)

Maybe I need to have settlement at least half of my wage is for USDT and half is for Fiat because that USDT will be ready for my investment each time.

So what's really difficult about getting USDT or Bitcoin to pay for all your work? If you want to convert directly to fiat, I don't think it's difficult to do at the moment. except transaction fees which sometimes increase.
If you need it for daily needs, everything can be done with your cellphone. and it's all pretty easy nowadays.
I am waiting for all companies to pay their employees with Bitcoin or other crypto assets.

In some jurisdictions every exchange, even between cryptos, is considered a taxable event and must be calculated and pay for the generated "profit" (which is imaginary most of the times, but not for the tax agencies of these countries). One could avoid that paying with USDT, but not with Bitcoin. I don't know where you live, but that's the reason why I would prefer not to be paid in non stable cryptos. Maybe, if laws evolved...

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Quote from: bitterguy28 on May 23, 2024, 03:52:54 AM

Not sure if I can handle accepting all my wages in bitcoin because I need funds for our daily expenses that I only take from my dayjob(my investments are all in crypto and not to be spent for some time)

Maybe I need to have settlement at least half of my wage is for USDT and half is for Fiat because that USDT will be ready for my investment each time.

So what's really difficult about getting USDT or Bitcoin to pay for all your work? If you want to convert directly to fiat, I don't think it's difficult to do at the moment. except transaction fees which sometimes increase.
If you need it for daily needs, everything can be done with your cellphone. and it's all pretty easy nowadays.
I am waiting for all companies to pay their employees with Bitcoin or other crypto assets.

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Quote from: coolcoinz on May 23, 2024, 02:11:53 PM

I was talking from the point of view of someone who earns in EURO and would either get fiat money or USDt. In such case I'd rather take EUR since I have plenty of BTC and would rather hold that and spend my fiat. Spending EUR here is much easier and cheaper than converting USDt through an exchange since I'd have to pay additional fee on that.

This is probably because Western countries are becoming more cashless every day. I guess more than 85% of people do not carry cash anymore and use cards everywhere. But in my country, more than 85% of people carry cash, and not all the shops accept card payments. So, even if I get it in fiat, I still have to visit an ATM and withdraw my funds to spend it.

Sometimes, we get a better exchange rate from those exchanges, and most of the time, banks pay the worst rate when we exchange money from USD to our local currency. This should explain why our locals prefer USDT over USD.

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Quote from: Learn Bitcoin on May 23, 2024, 01:09:52 AM

Why not? I do not spend in USD in the store either. Here, it's kind of different. If you are working in the IT sector or a company that is related to crypto currency, you should not have a problem accepting a salary in USDT. It's not rocket science to sell USDT for your preferred currency. I am still getting my salary in USDT and constantly sell them for my local currency, and my local currency arrives within a couple of minutes.

I am not going to hold USDT. I convert them to my local currency right after I receive them. But sometimes I hold USDT if I plan to invest in cryptocurrency. Actually, it varies from place to place and person to person.

I get it, if you're in a country where you don't use USD and an employee would give you a choice to either get paid in dollar that you have to convert, or USDt that you also have to convert, USDt will produce lower fees and probably be faster to exhange online. Also, in such situation USDt would give you an option to convert it into bitcoin fast and cheap.

I was talking from the point of view of someone who earns in EURO and would either get fiat money or USDt. In such case I'd rather take EUR since I have plenty of BTC and would rather hold that and spend my fiat. Spending EUR here is much easier and cheaper than converting USDt through an exchange since I'd have to pay additional fee on that.

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Quote from: shanhaigamefi on April 24, 2024, 04:34:25 AM

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!

Accepting USDT for payment depend on how yiu intend to use the money. Your half most people's salary are going to offset bills right, so there is no need to panic or fear of the fluctuations since USD isn't the same as USDT, I will accept it if I'm to used it for immediately and since my country stand on crypto as a method of payment doesn't have any litigation on tax, I will happily accept because who want to pay tax though if not that it's compulsory.

I would have preferred usdc actually because it's more an angel stablecoin than USDT, I have friends that are are into freelance job and they accept usdc for payments and immediately they convert everything into fiat since they always use fiat and when they don't, they convert it to Bitcoin and withdraw money to external wallet to he dominance and custody of their money.

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Quote from: bitterguy28 on May 23, 2024, 03:52:54 AM

Not sure if I can handle accepting all my wages in bitcoin because I need funds for our daily expenses that I only take from my dayjob(my investments are all in crypto and not to be spent for some time)

Maybe I need to have settlement at least half of my wage is for USDT and half is for Fiat because that USDT will be ready for my investment each time.

When you need money and want to get more money through Cryptocurrency then we can try to do something else. Never depend on just one project. We can take advantage of other Bounty Campaigns and take advantage of Airdrops which can give us additional money.

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Quote from: fauzan Ichsan on May 23, 2024, 02:49:20 AM

Quote from: OrangeII on May 23, 2024, 01:21:54 AM

Quote from: Learn Bitcoin on May 22, 2024, 01:23:53 AM

I would prefer to get it in USD. But if a company offers me to get it in USDT, why not? Both have the same value after all. The difference is not much. Maybe only a penny? But I am okay with that. Regarding USDT getting a de-peg, I will have to chat with that if USDT gets a de-peg within three days of getting the salary, they will have to pay me again and I am okay with that.

Getting a salary in USDT or any other stable crypto is not bad. I can still exchange them to my local currency within a couple of minutes. So, I won't bother too much about asking for USD instead of USDT.

Well, both are the same. In fact, when I am offered to be paid using popular coins such as bitcoin, ethereum, or other popular coins, I will accept it if the amount is the same when my salary is paid. I'm pretty sure that all crypto users will accept this. In fact, when he doesn't want to hold USDT, he can immediately withdraw it using a local exchange to the account number he has. well, it's the same as being paid fiat.

USDT is a stable coin, so I feel there is no problem if we receive a salary in USDT, especially for those of us who are already in the crypto world, so this actually benefits us, because we don't need to convert it to the crypto world. However, if it is in the form of bitcoin, it might be familiar because it fluctuates, unlike during the bearish season, then I will be happy to accept it.

There would be no problem honestly if you are really just that still that getting USDT or stable coin because it would really be still that the same since its stable. lol.
One thing that you would really be worrying is on the time that you would really be accepting Bitcoin or some coins which has been offered. So as much as possible if there would really be that an option whether you would really be that accepting still on fiat or with USDT, not unless if they would really be that mandatorily be changing up those pays then there's nothing you can do but just as said that there would be not much of a problem considering that it is really that stable and not really that volatility then you would really be that still recieving as good as fiat. It would really be just that an option whether you would be buying up some coins which are directly in pair with USDT on which its something that will really be that convenient.

Just like the rest been saying that if your boss or owner would be telling about those changes then as a worker then there's nothing you can do but to accept with those changes because if you dont
then you do know on what comes next. So if you do still need your job then you dont have the rights on making up some complaints. Grin

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Not sure if I can handle accepting all my wages in bitcoin because I need funds for our daily expenses that I only take from my dayjob(my investments are all in crypto and not to be spent for some time)

Maybe I need to have settlement at least half of my wage is for USDT and half is for Fiat because that USDT will be ready for my investment each time.

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Quote from: OrangeII on May 23, 2024, 01:21:54 AM

Quote from: Learn Bitcoin on May 22, 2024, 01:23:53 AM

I would prefer to get it in USD. But if a company offers me to get it in USDT, why not? Both have the same value after all. The difference is not much. Maybe only a penny? But I am okay with that. Regarding USDT getting a de-peg, I will have to chat with that if USDT gets a de-peg within three days of getting the salary, they will have to pay me again and I am okay with that.

Getting a salary in USDT or any other stable crypto is not bad. I can still exchange them to my local currency within a couple of minutes. So, I won't bother too much about asking for USD instead of USDT.

Well, both are the same. In fact, when I am offered to be paid using popular coins such as bitcoin, ethereum, or other popular coins, I will accept it if the amount is the same when my salary is paid. I'm pretty sure that all crypto users will accept this. In fact, when he doesn't want to hold USDT, he can immediately withdraw it using a local exchange to the account number he has. well, it's the same as being paid fiat.

USDT is a stable coin, so I feel there is no problem if we receive a salary in USDT, especially for those of us who are already in the crypto world, so this actually benefits us, because we don't need to convert it to the crypto world. However, if it is in the form of bitcoin, it might be familiar because it fluctuates, unlike during the bearish season, then I will be happy to accept it.

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Quote from: Learn Bitcoin on May 22, 2024, 01:23:53 AM

I would prefer to get it in USD. But if a company offers me to get it in USDT, why not? Both have the same value after all. The difference is not much. Maybe only a penny? But I am okay with that. Regarding USDT getting a de-peg, I will have to chat with that if USDT gets a de-peg within three days of getting the salary, they will have to pay me again and I am okay with that.

Getting a salary in USDT or any other stable crypto is not bad. I can still exchange them to my local currency within a couple of minutes. So, I won't bother too much about asking for USD instead of USDT.

Well, both are the same. In fact, when I am offered to be paid using popular coins such as bitcoin, ethereum, or other popular coins, I will accept it if the amount is the same when my salary is paid. I'm pretty sure that all crypto users will accept this. In fact, when he doesn't want to hold USDT, he can immediately withdraw it using a local exchange to the account number he has. well, it's the same as being paid fiat.

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Quote from: coolcoinz on May 22, 2024, 03:12:21 PM

The way I see it, the difference is huge, a bit like between real cheese and cheese-like product.

USDT has the value of USD, but it's not USD. It's a coin issued by a private company that follows the price of USD, like a price tracking ETF. When you hold USDT you don't hold USD. You hold an IOU from ifinex - a Hong Kong company. Do you trust that company with your money? Do you really want an IOU from them every month instead of USD? You're not going to be able to spend your USDT in any store.

Why not? I do not spend in USD in the store either. Here, it's kind of different. If you are working in the IT sector or a company that is related to crypto currency, you should not have a problem accepting a salary in USDT. It's not rocket science to sell USDT for your preferred currency. I am still getting my salary in USDT and constantly sell them for my local currency, and my local currency arrives within a couple of minutes.

I am not going to hold USDT. I convert them to my local currency right after I receive them. But sometimes I hold USDT if I plan to invest in cryptocurrency. Actually, it varies from place to place and person to person.

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Quote from: Learn Bitcoin on May 22, 2024, 01:23:53 AM

I would prefer to get it in USD. But if a company offers me to get it in USDT, why not? Both have the same value after all. The difference is not much. Maybe only a penny? But I am okay with that. Regarding USDT getting a de-peg, I will have to chat with that if USDT gets a de-peg within three days of getting the salary, they will have to pay me again and I am okay with that.

Getting a salary in USDT or any other stable crypto is not bad. I can still exchange them to my local currency within a couple of minutes. So, I won't bother too much about asking for USD instead of USDT.

The way I see it, the difference is huge, a bit like between real cheese and cheese-like product.

USDT has the value of USD, but it's not USD. It's a coin issued by a private company that follows the price of USD, like a price tracking ETF. When you hold USDT you don't hold USD. You hold an IOU from ifinex - a Hong Kong company. Do you trust that company with your money? Do you really want an IOU from them every month instead of USD? You're not going to be able to spend your USDT in any store.

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Quote from: shanhaigamefi on April 24, 2024, 04:34:25 AM

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!

Just as the first user below you already stated that, aside from the risk of a de peg, I totally agree with him that tether is one of the best stable coins one can ever think of currently now and just as the op also stated that, it also facilitates transfers and cross border transactions and that’s another reason to love tether.
And I actually don’t see any reason to turn down my payments in tether especially if that’s the only option offered by my employer.

Quote from: Learn Bitcoin on May 22, 2024, 01:23:53 AM

Quote from: shanhaigamefi on April 24, 2024, 04:34:25 AM

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 would prefer to get it in USD. But if a company offers me to get it in USDT, why not? Both have the same value after all. The difference is not much. Maybe only a penny? But I am okay with that. Regarding USDT getting a de-peg, I will have to chat with that if USDT gets a de-peg within three days of getting the salary, they will have to pay me again and I am okay with that.

Getting a salary in USDT or any other stable crypto is not bad. I can still exchange them to my local currency within a couple of minutes. So, I won't bother too much about asking for USD instead of USDT.

I also agree with you brother and I still believe that payment in usdt is always good for countries with very poor currencies and that will enable them do fewer works for more money because if the rate of fx.
And I will also accept stable coin but if asked I will have prefer payments in BTC value.

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Quote from: senyorito123 on May 15, 2024, 05:50:45 PM

Quote from: shanhaigamefi on April 24, 2024, 04:34:25 AM

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!

That's not a problem for me if some sort of online job paid me usdt, I saw this coin as stable and with minimal fluctuations only unlike crypto which suddenly decline it's price with huge percentage. Stablecoins like this has come the era of being widely adopted by many, particular with exchanges and their mode of buying an asset is through usdt. Without this coin, I don't think so it would be easy to handle fees for every trader, overall thanks to this coin most people benefited from this regardless of what network.

Me too; if that stablecoin is USDT, there will be no problem for me either, because I can directly buy crypto at will if DCA does it. But for people who have a different mindset and are not crypto fanatics, of course they will not agree because they will still prefer fiat, and they will not see the opportunity of USDT when it is the salary that will be paid to them.

But in the reality of this era, are there any companies that pay USDT wages to their employees? I don't think I've seen or heard of anything like this, right?

I do not think that there are many, it is just in the crypto world and it rarely happens, I think that is not really as common as people think it is.

I think it is quite understandable that people may consider that to be the future, not saying that it will be more than fiat, but it would be more than what it is today, there will be more people paid in USDT in the future (or whatever stablecoin is famous at that point) than people getting paid today, doesn't mean it would be like half of the world, it could be less than 1% and still be more than today. So that is why people are questioning if that is a good thing, like that is the trajectory we are on, but are we happy about it or not? Most people answered yes, so it doesn't seem like an issue.

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Quote from: shanhaigamefi on April 24, 2024, 04:34:25 AM

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 would prefer to get it in USD. But if a company offers me to get it in USDT, why not? Both have the same value after all. The difference is not much. Maybe only a penny? But I am okay with that. Regarding USDT getting a de-peg, I will have to chat with that if USDT gets a de-peg within three days of getting the salary, they will have to pay me again and I am okay with that.

Getting a salary in USDT or any other stable crypto is not bad. I can still exchange them to my local currency within a couple of minutes. So, I won't bother too much about asking for USD instead of USDT.

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Quote from: OrangeII on May 13, 2024, 09:54:47 PM

if USDT is still a stable coin, then I accept it. When you are afraid of the fluctuations that occur, you only need to sell them when you have received your salary. However, I think receiving a salary in USDT is not bad. This can be a quick way to invest in other coins without needing to make another deposit. Apart from that, I also feel that receiving a salary with USDT is probably almost the same as receiving a salary by transferring via ATM.

yeah its basically the same thing, just if someone want their money in their bank it might requires additional effort but overall we are already avoiding the fluctuation that most of people afraid of so its gonna be fine.
furthermore the fact that there are exchanges out there also providing debit card that automatically charges crypto when used is gonna be a lot of convenient just like how banks work with their debit card.
but i don't know how useful they are since I never tried their services but if it can be integrated with stablecoin then basically you're all set.
the thing though most people still have a lot prejudice with the fluctuation even when they are offered stablecoin as their salary they are still somewhat afraid of fluctuation.
even though when we are talking about fluctuation with stablecoin usually its very minimal that not even worth mentioning unless it lost its peg of course.

Topic: If all your wages were paid in USDT, would you accept it? (Read 1044 times)