Boss, please pay me in Bitcoin!

Author: sanna

Paying employees in the form of cryptocurrency offers many opportunities, from exciting bonuses to long-term investments and more. However, before considering it as a form of payment, you may also want to seek some advice. For example, do you know how to convert cryptocurrency into legal tender? What are the pros, cons and pitfalls of paying in cryptocurrency? Finally, what kind of jobs would pay in this way?

Niel De La Rouviere is one of the first people to receive his salary in Bitcoin. He said, "I discovered Bitcoin in early 2011. At first I thought it was like a game currency, almost unreal. Although I didn't understand all the details, a decentralized, P2P digital currency was too crazy for me, so I became interested in it."

What are the benefits of paying with Bitcoin?

High salary, great rewards and paperless

First, you can benefit from the exchange rate: if you do not convert your Bitcoins into fiat currency immediately, but wait for a more favorable exchange rate, you can get a significant bonus (in fiat currency) from your salary, but this depends on your trading skills and patience.

Second, you don’t need to do any paperwork—especially important for freelancers, part-timers, and those who hate red tape. No one will ask you where the extra $10,000 in your Bitcoin wallet came from; your Bitcoin wallet will not notify you that you need to take a stack of notarized documents to the bank to verify that you have exceeded your limit. However, if you exchange these Bitcoins for cash, then the above situations will become a reality.

Third, wages paid in Bitcoin are higher than the average wage in the industry. If your boss can only pay you in this special form, you should boldly ask for a raise, after all, this method is not very convenient. In addition, jobs that generally pay in Bitcoin require knowledge of cryptocurrency, such as Bitcoin startups, exchanges, etc. If you have such knowledge, you will be paid higher than the average wage in the industry because of this expertise.

In addition, if you receive Bitcoin, you can use it as a long-term investment. Some experts predict that the exchange rate of Bitcoin can reach as high as $10,000. Therefore, if you save a part of the Bitcoin you earn, your assets will increase significantly.

In the end, it’s all very exciting and fun. If you work at a cryptocurrency company, you’ll learn a lot of things in a completely new field that you’ve never experienced before.

“When people start experiencing payments the same way they do email and text messages, consumers will start complaining about why they’re not getting paid that way,” said Jeremy Allaire, CEO of bitcoin bank Circle. “It’s going to become a consumer-led phenomenon.”

Besides this, cryptocurrency-related jobs are usually related to IT projects, which rarely require experts from other fields.

So if you are a programmer, designer, marketer, arbitrator, tester, engineer, journalist, content manager or financial analyst, then you have a good chance of breaking into this industry and getting paid in cryptocurrency.