Topic: Wages being paid in crypto - page 2. (Read 1091 times)
If we didn't have regulations about jobs on our countries it would be already possible as it would depend only employeer and employee wishes. But as it works now the government wouldn't allow it even if both parts agree. And people still asks for more and more regulations even if it's useless for the individuals inside a society.
This is possible in the future if time comes that bitcoin is legally accepted and adopted by some companies for sure many employee can make their lives easier and more comfortable they can provide enough for their family needs because bitcoin will help then to become financially stable many will also learn how to invest and save. It would be very nice seeing people receiving a compensation they will really be satisfied.
Personally, I would love this. It would be amazing if an employer gave the option to pay wages in crypto currencies, of the employee's choice. Tax could be deducted before the payment, and it would almost eradicate the need for banks. However, there is that possible risk of the crypto crashing.
Is there a foolproof way to be paid in crypto?
It actually depends if your employer would decide to adopt bitcoin or crypto which would be used on paying up salaries on bitcoin and to think that it would really be complicated since not all people are already aware on what it bitcoin or cryptocurrencies which means an another hassle thing for educating those employees.I dont think that this thing will be easily be accepted or to be considered by those employers. Is there a foolproof way to be paid in crypto?
I do not think that's a good idea. Imagine your salary is $ 2,000 a month, they pay you 0.33BTC (6000$ / 1BTC) when you to sell to pay the family bill, price only 4000$ / 1BTC
That would be really great idea. It should be optional though with strong warning about volatility attached. I however doubt that governments would give this their support. The tax should be an incentive though.
The Crypto World should probably find ways to get to the +7billion people on the planet with or without government support.
The Crypto World should probably find ways to get to the +7billion people on the planet with or without government support.
Personally, I would love this. It would be amazing if an employer gave the option to pay wages in crypto currencies, of the employee's choice. Tax could be deducted before the payment, and it would almost eradicate the need for banks. However, there is that possible risk of the crypto crashing.
Is there a foolproof way to be paid in crypto?
Is there a foolproof way to be paid in crypto?
Well if you take part in signature campaign on this forum, you will be paid in crypto. When it comes to regular employers, i guess it depends on the each employer. I have at least one friend who was offered to get paid in btc.
Personally, I would love this. It would be amazing if an employer gave the option to pay wages in crypto currencies, of the employee's choice. Tax could be deducted before the payment, and it would almost eradicate the need for banks. However, there is that possible risk of the crypto crashing.
Is there a foolproof way to be paid in crypto?
Is there a foolproof way to be paid in crypto?
The bigger concern than crashing market is the liquidity of cryptocurrency. As for now, very less percentage of businesses accept Bitcoin or other crypto. In such scenario if employer adds option of crypto in wage payment, the ultimate option left to workers is to sell crypto for fiat and withdraw money to Banks. Hence, banks will be the major authority in the end. So primitive necessity is to build ready-to buy or sell Crypto market before tokenizing the remuneration.
Paying farm employees in Bitcoin? That's a good use: might otherwise have thought it would be tech industry leading the way on this one.
Even though it's not that popular to provide the regular wages in the form of bitcoin, some firms have been paying with bitcoin upon the employees request. But I'm sure how about this has taken effect with big companies. I came to know about this incident with an Indonesian employer who pay his farm employees in terms of bitcoin.
As I heard Mywish team wrote a letter to Russian government to legalize wages paid in crypto. So, it sounds real, at least in Russia 
Since the technology is in the early phase, I don't think that it is a wise idea to pay in Bitcoin as a salary before building the awareness about the same. There are the people who can't even handle their net banking account so there is a doubt in my mind about the user-friendliness of the whole process. It would be a very bold step if any organisation starts paying Bitcoin as a salary. Personally, I would love it but since not everyone is aware of how it works and how to use it, I would feel pity for them especially for the people in non-developed countries.
It has also both positive and negative side. Firstly paying through crypto more fast and there is no need for bank. Secondly crypto currency is not acceptable by everywhere and you need to exchange it on your fiat currency.
I think that this system will not last long. It may be of course, of course, but soon it will have its effects especially if the crypto currencies have fallen. How do they buy what they want me to have their money down. How do people who are just paying their wages to pay for them are crypto currencies that have fallen in price. So it is not clear and there are many who do not agree with it.
If I get paid for my hard work then I'll choose bitcoin for my services no other alt coins.
Not everyone will agree to this idea, do you think employers have time for this? Crypto's value is not stable and it's impossible that the government will agree to the idea of minimizing the use of banks. Besides, not all the stores are accepting cryptos as payment, people need to change it to their countries currency before it can be used.
it is not yet possible and if you get paid in bitcoin you will have to spend more money for using it. because there are not enough places that accept bitcoin so you will have to keep converting back to fiat and that will always cost you (different fiat related fees and exchange fees).
for example if you want to pay your rent or buy groceries or pay for taxi you still need fiat, you can't pay them with bitcoin! not yet anyways.
for example if you want to pay your rent or buy groceries or pay for taxi you still need fiat, you can't pay them with bitcoin! not yet anyways.
I agree that it's not yet possible for most people. but I think that some could pull it off with trading.
With cryptos not being exchanged for products or services yet; and the risk of the market, the only way this would happen is if there was a special agreement conducted with the employer...
However I do believe that in the future, once cryptos have swarmed into society, currency will shift towards decentralization and all coins..
Maybe as a perk, kind of like a stock option. The transaction wouldn't be above board since bitcoin is still not regulated in my country the Philippines. I even doubt if employers would agree to this at this time.
Personally, I would love this. It would be amazing if an employer gave the option to pay wages in crypto currencies, of the employee's choice. Tax could be deducted before the payment, and it would almost eradicate the need for banks. However, there is that possible risk of the crypto crashing.
Is there a foolproof way to be paid in crypto?
Is there a foolproof way to be paid in crypto?
If I am going to get paid for my job with crypto, I will have to make sure that it is going to be Bitcoin. If it is some other cryptos, it would either be Waves or Ethereum. This is actually a good way to get paid except that with a fluctuating market, there is a risk that what the workers receive might sometimes not in accordance to his efforts. Or else, the company will always change the amount of salary according to the present value.
I think it is possible for wages to be paid in crypto because a friend of mine actually was given an option to have her wage be paid either through US Dollars or through Bitcoin and she chose Bitcoin as her wage for a couple of months.
Personally, I would love this. It would be amazing if an employer gave the option to pay wages in crypto currencies, of the employee's choice. Tax could be deducted before the payment, and it would almost eradicate the need for banks. However, there is that possible risk of the crypto crashing.
Is there a foolproof way to be paid in crypto?
Is there a foolproof way to be paid in crypto?
I personally think that getting paid for real life work in crypto would be horrendous as of now. Sure, there are benefits, however, there aren't as many places that accept bitcoin itself as a currency. Furthermore, the volatility is something that could get in the way of your actual earnings. People like to put a percentage of what they earn into their investments rather than their entire portfolio. Think of if someone gets paid in bitcoin when it's at 7,800 as it was 2 days ago. Now, for every 1 bitcoin, they would have lost a little over a 1000 per coin. It's too volatile to work.
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