If you can get paid through cryptocurrency, do you still choose fiat currency? - page 6.

KaliLinux

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Quote from: Tahsin Kabir Kollol on August 09, 2021, 02:14:57 AM

As a trader, I still choose fiat currency If you can get paid through cryptocurrency. Because of the acceptance through traditional money I will be able to purchase cryptocurrency from the convenient stage through my saved money market analysis. In my opinion, this will make it possible to make more profit and increase the number of total assets. Due to the volatility of cryptocurrency prices, it seems more reasonable to accept traditional money if you have the skills and experience to invest it at the right time.

I hear you and people will always say this about crypto trading and of cause if you do know how to trade and can get in and out at the right time. I do also like what @nicecrypto is highlighted here

Quote from: nicecrypto on August 09, 2021, 02:05:59 AM

Quote from: EvieLannister on July 27, 2021, 12:00:19 AM

Quote

Bitwage is a platform that converts wages into cryptocurrency. Bitwage founder Jonathan Chester said: “A lot of people now want to earn part or all of their wages through Bitcoin.” The company has made contributions in the United States, Europe, Latin America and Asia this year. 20,000 employees. Some users processed $30 million in salaries, including employees from Google, Facebook, General Electric, Philips, the United Nations, and the U.S. Navy. Many of these employees have signed up for this service themselves.

Chester stated that he converts 15% of his monthly salary into virtual currency, which is "a way to not worry about whether to buy or accumulate bitcoin or cryptocurrency at the right time."

Many companies are also considering allowing their employees to choose to receive partial or full compensation in the form of cryptocurrency. If you can get paid through cryptocurrency, which one would you choose? If the boss pays in Bitcoin, would you want it? Or you continue to prefer to pay in fiat currency to facilitate the purchase of tokens you like.
Do you think cryptocurrency payment will be a new trend in the future?

I would definitely like to be paid in part with crypto because that would be easier than collecting my salary in fiat and then try to buy some crypto from it again which will attract some fees from my investments also Grin

People can just use that form of crypto investment as a means of monthly cryptocurrency accumulation which I think is a good way to monthly DCA or whichever pattern your salary comes in.

DCA is one of the best crypto investment methods that has been talked of by most crypto enthusiasts and if this is what it seems like to me by taking part payments with crypto as a salary.

bryant.coleman

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In my country, it is possible to pay utility bills and do shopping in supermarkets using cryptocurrency (although not directly, first you need to convert your BTC to gift cards). But even here, some of the payments are not possible in cryptocurrency, such as rent and housemaid salary. For these we need fiat cash. In case I receive 100% of my salary in Bitcoin, then I need to convert at least some of it to fiat in order to pay these bills. And in my case, a large part of my portfolio is in BTC and therefore I will not prefer to receive anymore amount in cryptocurrency.

Tahsin Kabir Kollol

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As a trader, I still choose fiat currency If you can get paid through cryptocurrency. Because of the acceptance through traditional money I will be able to purchase cryptocurrency from the convenient stage through my saved money market analysis. In my opinion, this will make it possible to make more profit and increase the number of total assets. Due to the volatility of cryptocurrency prices, it seems more reasonable to accept traditional money if you have the skills and experience to invest it at the right time.

nicecrypto

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Quote from: EvieLannister on July 27, 2021, 12:00:19 AM

Quote

Bitwage is a platform that converts wages into cryptocurrency. Bitwage founder Jonathan Chester said: “A lot of people now want to earn part or all of their wages through Bitcoin.” The company has made contributions in the United States, Europe, Latin America and Asia this year. 20,000 employees. Some users processed $30 million in salaries, including employees from Google, Facebook, General Electric, Philips, the United Nations, and the U.S. Navy. Many of these employees have signed up for this service themselves.

Chester stated that he converts 15% of his monthly salary into virtual currency, which is "a way to not worry about whether to buy or accumulate bitcoin or cryptocurrency at the right time."

Many companies are also considering allowing their employees to choose to receive partial or full compensation in the form of cryptocurrency. If you can get paid through cryptocurrency, which one would you choose? If the boss pays in Bitcoin, would you want it? Or you continue to prefer to pay in fiat currency to facilitate the purchase of tokens you like.
Do you think cryptocurrency payment will be a new trend in the future?

I would definitely like to be paid in part with crypto because that would be easier than collecting my salary in fiat and then try to buy some crypto from it again which will attract some fees from my investments also Grin

People can just use that form of crypto investment as a means of monthly cryptocurrency accumulation which I think is a good way to monthly DCA or whichever pattern your salary comes in.

Rasa nanas

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I will choose 50% fiat money and 50% in bitcoin. I will use fiat money to buy daily necessities and I will use bitcoin as future savings. but even if it does happen I'm sure most employees will choose to be paid with fiat money because currently very few people know bitcoin. besides that at this time there are still few places that accept bitcoin as a means of payment, and of course this makes many people not want to be paid with bitcoin.

Sithara007

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Quote from: fulcare on August 08, 2021, 02:32:28 PM

That is one important aspect and the other one is that even stable coins aren't a solution to that problem because the hassle is too big as hardly any business accepts Tether. Also, why use Tether if you can just use the USD in your bank account. Less explanations to financial authorities, overall less trouble. We are not quite there that more and more people get paid in crypto because it is more practical to them. Some do receive or take crypto as payment because they want to drive adoption, which is a good and important endeavor.

There is no point in using Tether (or any other stablecoin), when their acceptability is far lower than fiat currency. As of now, none of the cryptocurrencies have an acceptability rate which can be compared with that of fiat currency. On top of that, the usage of these stablecoins may create issues for you, when you file your tax returns. And finally, I would not consider Tether (USDT) as a safe asset. From whatever data they have published so far, it is clear that only a minority of the reserves are being held in cash. That will be an issue in case of a mass liquidation event.

fulcare

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Quote from: awik p on August 06, 2021, 11:09:34 PM

Quote from: fulcare on August 06, 2021, 02:41:53 PM

Quote from: oHnK on August 03, 2021, 11:58:10 AM

Quote from: adzino on August 03, 2021, 07:34:12 AM

Quote from: EvieLannister on July 27, 2021, 12:00:19 AM

Many companies are also considering allowing their employees to choose to receive partial or full compensation in the form of cryptocurrency. If you can get paid through cryptocurrency, which one would you choose? If the boss pays in Bitcoin, would you want it? Or you continue to prefer to pay in fiat currency to facilitate the purchase of tokens you like.
Do you think cryptocurrency payment will be a new trend in the future?

I would still prefer fiat currency. You know you can't pay your bills using crypto currencies. And what if you get paid in a non stable coin and the next day the market crashes really bad? We have seen the price of crypto currencies go down more than 20% in just few days. You will be in trouble then. Then there is those transaction fees which sometimes end up being very absurd. Get paid in fiat, buy crypto with fiat Wink

.

I see that your chosen indicator can only be used as a trading tool, isn't it very simple? BTC is like gold, gold can't buy a good must be exchanged first to fiat then do you still prefer fiat to gold? If given the opportunity to choose then BTC is the best choice. Although it cannot be used as a direct transaction tool, BTC can be the best store of value than if you store it in fiat. What you get by filling an account with fiat for 10 years when compared to BTC is a very clear growth chart.

Given the current fees and Bitcoin's volatility, I doubt it is the best choice to get paid in bitcoin in every single situation. If you earn pretty much exactly the amount of money you need per month to pay your bills, I would probably prefer fiat over bitcoin honestly. What are you going to do if it does crash during those days or the week you are getting paid usually?

indeed for now the use of bitcoin is less relevant for all levels of transactions. because of the high volatility and the price of an item is fixed in fiat units, then we will find it difficult for small entrepreneurs, because not all of them understand crypto. it's different if crypto is accepted in all countries and the unit of goods uses bitcoin for the price, of course at that time we can spend it calmly

That is one important aspect and the other one is that even stable coins aren't a solution to that problem because the hassle is too big as hardly any business accepts Tether. Also, why use Tether if you can just use the USD in your bank account. Less explanations to financial authorities, overall less trouble. We are not quite there that more and more people get paid in crypto because it is more practical to them. Some do receive or take crypto as payment because they want to drive adoption, which is a good and important endeavor.

bitcub

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I have multiple jobs, some of them are paying me via cryptocurrency. And you know this is a wonderful opportunity specially if the price is bullish. You keep your salary rising and only withdraw them if the price reached ATH.. Or you can convert them to stable coin like USDT or DAI and wait for another price move up to get profit.

Kusman

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No, I wouldn't prefer to get paid through cryptocurrency. Because I don't think that it is necessary and good at the same time. Because we can buy cryptocurrencies already while we are getting paid through fiat. We can invest whatever amount we would like into them.

bitsnack

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Quote from: EvieLannister on July 27, 2021, 12:00:19 AM

Do you think cryptocurrency payment will be a new trend in the future?

I think that payment for employees in the form of cryptocurrency would only happen in the future if there was massive widespread adoption. One reason I think this is because at the moment in most places cryptocurrency is not fully adopted into everyday life. Many major retailers do not accept cryptocurrency, and in most places you cannot pay for rent or other things like that with cryptocurrency.
So once you think about this, it wouldn't make too much sense to receive your entire paycheck in a cryptocurrency if you would have to swap some or most of it over into fiat to survive.

Obito

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I would accept but the condition for me to accept is that there's a lot of business establishments that offers good and services that accepts crypto as a payment because it's going to be a hassle if I am going to exchange it for fiat and it defeats the purpose of having a salary in cryptocurrency because you can't exactly use it as it is.

awik p

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Quote from: fulcare on August 06, 2021, 02:41:53 PM

Quote from: oHnK on August 03, 2021, 11:58:10 AM

Quote from: adzino on August 03, 2021, 07:34:12 AM

Quote from: EvieLannister on July 27, 2021, 12:00:19 AM

Many companies are also considering allowing their employees to choose to receive partial or full compensation in the form of cryptocurrency. If you can get paid through cryptocurrency, which one would you choose? If the boss pays in Bitcoin, would you want it? Or you continue to prefer to pay in fiat currency to facilitate the purchase of tokens you like.
Do you think cryptocurrency payment will be a new trend in the future?

I would still prefer fiat currency. You know you can't pay your bills using crypto currencies. And what if you get paid in a non stable coin and the next day the market crashes really bad? We have seen the price of crypto currencies go down more than 20% in just few days. You will be in trouble then. Then there is those transaction fees which sometimes end up being very absurd. Get paid in fiat, buy crypto with fiat Wink

.

I see that your chosen indicator can only be used as a trading tool, isn't it very simple? BTC is like gold, gold can't buy a good must be exchanged first to fiat then do you still prefer fiat to gold? If given the opportunity to choose then BTC is the best choice. Although it cannot be used as a direct transaction tool, BTC can be the best store of value than if you store it in fiat. What you get by filling an account with fiat for 10 years when compared to BTC is a very clear growth chart.

Given the current fees and Bitcoin's volatility, I doubt it is the best choice to get paid in bitcoin in every single situation. If you earn pretty much exactly the amount of money you need per month to pay your bills, I would probably prefer fiat over bitcoin honestly. What are you going to do if it does crash during those days or the week you are getting paid usually?

indeed for now the use of bitcoin is less relevant for all levels of transactions. because of the high volatility and the price of an item is fixed in fiat units, then we will find it difficult for small entrepreneurs, because not all of them understand crypto. it's different if crypto is accepted in all countries and the unit of goods uses bitcoin for the price, of course at that time we can spend it calmly

roosbit

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Random coins :)

If I was given this option am going to go for bitcoin. The opportunity cost that bitcoin has is quite high and if I was being paid 0.05 btc and upon receiving my payment price goes up that's bonus pay without working for it but this is not one sided which is the only disadvantage, price could go down which means that weekly or monthly pay am suppose to have got will be lesser than usual.

bitcoinst

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No. I will always choose cryptocurrency only if the altcoin is not a dollar.
The dollar is the only currency in which I am ready to accept payments of funds, otherwise I will be happy to receive a salary in cryptocurrency.
However, under the current realities, cryptocurrency will always be converted to fiat money before being paid out.

milewilda

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Quote from: EvieLannister on July 27, 2021, 12:00:19 AM

Many companies are also considering allowing their employees to choose to receive partial or full compensation in the form of cryptocurrency. If you can get paid through cryptocurrency, which one would you choose? If the boss pays in Bitcoin, would you want it? Or you continue to prefer to pay in fiat currency to facilitate the purchase of tokens you like.
Do you think cryptocurrency payment will be a new trend in the future?

Honestly i would still like to receive fiat because you wouldnt really worry about getting less or getting more as price volatility is always on the play on the time you would accept it and since you would really be converting it back to fiat specially if you do need to pay up the bills and expenses which means conversion would still involved some transaction fee which means it would be a deduction unlike when you are just receiving fiat then there would be no strings attached and would able to pay up on fix manner. The good thing on receiving fiat is that you do have always the option to partition your money neither it would be saved up for emergency funds and
you would able to allocate some funds or budget when you do intend to invest in bitcoin or simply generally in crypto.

fulcare

sr. member

Activity: 588

Merit: 254

The Standard Protocol - Solving Inflation

Quote from: oHnK on August 03, 2021, 11:58:10 AM

Quote from: adzino on August 03, 2021, 07:34:12 AM

Quote from: EvieLannister on July 27, 2021, 12:00:19 AM

Many companies are also considering allowing their employees to choose to receive partial or full compensation in the form of cryptocurrency. If you can get paid through cryptocurrency, which one would you choose? If the boss pays in Bitcoin, would you want it? Or you continue to prefer to pay in fiat currency to facilitate the purchase of tokens you like.
Do you think cryptocurrency payment will be a new trend in the future?

I would still prefer fiat currency. You know you can't pay your bills using crypto currencies. And what if you get paid in a non stable coin and the next day the market crashes really bad? We have seen the price of crypto currencies go down more than 20% in just few days. You will be in trouble then. Then there is those transaction fees which sometimes end up being very absurd. Get paid in fiat, buy crypto with fiat Wink

.

I see that your chosen indicator can only be used as a trading tool, isn't it very simple? BTC is like gold, gold can't buy a good must be exchanged first to fiat then do you still prefer fiat to gold? If given the opportunity to choose then BTC is the best choice. Although it cannot be used as a direct transaction tool, BTC can be the best store of value than if you store it in fiat. What you get by filling an account with fiat for 10 years when compared to BTC is a very clear growth chart.

Given the current fees and Bitcoin's volatility, I doubt it is the best choice to get paid in bitcoin in every single situation. If you earn pretty much exactly the amount of money you need per month to pay your bills, I would probably prefer fiat over bitcoin honestly. What are you going to do if it does crash during those days or the week you are getting paid usually?

romero121

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My choice of salary is always bitcoin. Once I used to hold every payment of mine and due to some sort of emergency sold my holdings. Earlier used to convert my earnings into cryptocurrency and used to convert only on need. Once again I'm feeling to do such a kind of cryptocurrency holding so to make my life better than now.

Luke Briggs

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I will still choose fiat currency, although I am very happy to see that cryptocurrency can be used as a salary,
I want to use fiat currency to buy the cryptocurrency I want to buy, and now I still use more fiat currency every day. If I send a single cryptocurrency, I will have to exchange it again, which is a bit troublesome. Grin

wahyu wida

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Quote from: suryana on August 03, 2021, 12:54:31 PM

Quote from: EvieLannister on July 27, 2021, 12:00:19 AM

Quote

Bitwage is a platform that converts wages into cryptocurrency. Bitwage founder Jonathan Chester said: “A lot of people now want to earn part or all of their wages through Bitcoin.” The company has made contributions in the United States, Europe, Latin America and Asia this year. 20,000 employees. Some users processed $30 million in salaries, including employees from Google, Facebook, General Electric, Philips, the United Nations, and the U.S. Navy. Many of these employees have signed up for this service themselves.

Chester stated that he converts 15% of his monthly salary into virtual currency, which is "a way to not worry about whether to buy or accumulate bitcoin or cryptocurrency at the right time."

Many companies are also considering allowing their employees to choose to receive partial or full compensation in the form of cryptocurrency. If you can get paid through cryptocurrency, which one would you choose? If the boss pays in Bitcoin, would you want it? Or you continue to prefer to pay in fiat currency to facilitate the purchase of tokens you like.
Do you think cryptocurrency payment will be a new trend in the future?

Maybe I will still choose fiat money first to be transferred to my personal account. So that I am free to convert my currency to a coin of my choice. So that I know when I'm ready to buy. If at that time in the form of a coin, I think it is less effective.

I guess it depends which one is more effective and efficient for me. if we buy cigarettes on the side of the road or small stalls, I don't think it is suitable to pay with bitcoin, because we will bear a large fee. another case if we buy a car in a showroom, of course it will be easier to transact using bitcoin. but we also don't know the future developments, and what kind of policies the government will implement, so it's better to wait

suryana

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Trphy.io

Quote from: EvieLannister on July 27, 2021, 12:00:19 AM

Quote

Bitwage is a platform that converts wages into cryptocurrency. Bitwage founder Jonathan Chester said: “A lot of people now want to earn part or all of their wages through Bitcoin.” The company has made contributions in the United States, Europe, Latin America and Asia this year. 20,000 employees. Some users processed $30 million in salaries, including employees from Google, Facebook, General Electric, Philips, the United Nations, and the U.S. Navy. Many of these employees have signed up for this service themselves.

Chester stated that he converts 15% of his monthly salary into virtual currency, which is "a way to not worry about whether to buy or accumulate bitcoin or cryptocurrency at the right time."

Many companies are also considering allowing their employees to choose to receive partial or full compensation in the form of cryptocurrency. If you can get paid through cryptocurrency, which one would you choose? If the boss pays in Bitcoin, would you want it? Or you continue to prefer to pay in fiat currency to facilitate the purchase of tokens you like.
Do you think cryptocurrency payment will be a new trend in the future?

Maybe I will still choose fiat money first to be transferred to my personal account. So that I am free to convert my currency to a coin of my choice. So that I know when I'm ready to buy. If at that time in the form of a coin, I think it is less effective.

Topic: If you can get paid through cryptocurrency, do you still choose fiat currency? - page 6. (Read 1478 times)