Topic: Wages being paid in crypto - page 3. (Read 1091 times)
What if what you got paid was insured for a certain period (~2 weeks-a month) against loss from bitcoin going down in price. You would not only get paid in bitcoin, you might actually benefit from it due to it going up in price. Personally, I feel that this is a great idea, but that it might need more work.
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 see that someone above has mentioned Bitwage. Does anyone have direct experience of using their services?
I am already paid in bitcoin for my job.
I dont hold on to it though I convert it to USD as soon as I get it via the Bitpay Visa
I dont hold on to it though I convert it to USD as soon as I get it via the Bitpay Visa
Even if governments agree, I don't think it's possible yet. In order to pay in crypto we should first have a stable cryptocurrency.. there is no currency in the world changing in price as much as any crypto now.
Crypto hasn't matured enough to be used as fiat money but hopefully it will someday.
Crypto hasn't matured enough to be used as fiat money but hopefully it will someday.
This is less likely to happen today. Not all of us know the bitcoin in addition, there is no tax on bitcoin. Bitcoin is not yet acceptable worldwide. Only a few countries know it. Nor is it applicable to all, if the basis for wages is bitcoin how are those small companies, especially when you lose internet unlike cash at any time you can withdraw
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.
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?
Unless your boss wants to pay you with bitcoin and you accept the chances of that happening are very low, I know that we are all excited about bitcoin but I think it is better to keep both aspects of your life apart that way if for some reason one of them fails you are not affected as badly. Is there a foolproof way to be paid in crypto?
It's not possible because cryptos are not considered legal currencies by the governments yet
It would be like paying you with grapes or apples. It's not legal
It would be like paying you with grapes or apples. It's not legal
I think now is not possible because taxation system for for crypto don't exist,second the companies cannot to show wages in bitcoin in their financial reports, in any cases this idea is not possible yet.
You can envy yourself if your company, in which you work, will issue you a payroll in bitcoin. This means that it is not just cutting-edge, but also cares about its employees. 
I think that in 10-15 years such practice will be everywhere. As soon as there are places where your salary can be safely spent.
I think that in 10-15 years such practice will be everywhere. As soon as there are places where your salary can be safely spent.
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.
That's a bold idea. This will promote the use of crypto more and acompany by that the fee you will pay for the transaction will also be large. And will the government allow companies to do so? will they let the state banks be disabled? I do not think so. But if only part of the salary was transferred to the crypto and you kept it as an investment, that would be a good idea. 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.
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?
Yeah , getting paid in bitcoins is amazing. But its not possible at the moment . Because its not legalized in many countries except a few. And other thing is its not that popular also. That too only educated people who is in IT sector and younger generation know about it . In many places like middle eastern countries it doesn't have exchanges also to convert it into fiat.In my opinion this can happen may be after 8 to 10 years, but not now.
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?
Not yet there isnt and this is because the market is young and by nature it will have lots of volatile swings in it. That being said though I dont think it is too far off from us potentially being paid in cryptos but I would not
want this unless I was well off and saw it as an investment.
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.
and also remember cryptocurrency price is not stable. maybe today you gain profit from it but you hold it, the next day when you want to buy something using that crypo the price is down and you lost your moneyfor 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.
The idea may seem nice on paper, but in practice it would be a bit confusing and many people, if they're for some reason not aware of this, would have to pay more to pay with bitcoin. Don't misunderstand me, I would like to see this put in action to see if it was even managable, maybe someday when bitcoin will become more internationalized, as in more known around the world, then we can talk about something like this.
I would gladly receive the salary of bitcoin and work in such an enterprise, where it happens. But it is too early to talk about this, because in my country there are no shops and cafes where I could pay bitcoin, and translating it into dollars will not be very profitable. But I'm waiting for this.
It will be very healthy in a few years, when the bijectin gets more spread and there will be enough places to spend bitcoin. And it will be very logical to receive wages in Bitcoin.
not everyone would agree that technically be able to at least use the purses and know where to click 
There's a startup, Bitwage, offering that service. Website is: https://www.bitwage.com/
It has been online for a while, if you do a search on google you'll find a lot of articles about them.
Their service makes sense, possibly there are more companies offering similar services. Maybe somebody here knows and can advice...
It has been online for a while, if you do a search on google you'll find a lot of articles about them.
Their service makes sense, possibly there are more companies offering similar services. Maybe somebody here knows and can advice...
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