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In New Zealand, from September 1, people will be able to get paid in cryptocurrency!  :)

This permission applies only to employees, the established salary will be paid only at a fixed rate, but this does not apply to premiums and dividends. Freelancers and self-employed workers were not included in the permit.

The tax authorities of this country have set the condition that the chosen digital money will be pegged to one of the paper currencies (New Zealand dollar). So that this salary in cryptocurrency can be converted into a standard form of payment, and also vice versa, for paying taxes. Therefore, the employer needs to pay salaries to employees, only liquid cryptocurrency, tied to the rate of fiat money.

Would you like to get paid in  cryptocurrency? ;)

I've heard similar things discussed over the past couple of years, and the exact same question asked numerous times.

No, I wouldn't want to get paid in crypto.  Not unless the items in my local supermarket are priced in bitcoin; not until my landlord accepts rent in bitcoin; and not until I can pay my utilities and phone bill in bitcoin.  Certainly not unless bitcoin's volatility goes down a lot.  With the price swings I've seen since I've been following bitcoin, it would be more risk than I'd be willing to bear to get my paycheck denominated in anything crypto.  It would be so easy to lose purchasing power within hours of getting paid.

Don't know how this is going to play out in New Zealand, but best of luck to anyone who takes advantage of it.  It might be attractive to receive part of your pay in bitcoin, just as an investment akin to contributing to a retirement plan, but I'd want the majority of it to be in fiat.  I would not want to get paid and then be unable to spend my money immediately at Starbucks or whatever, which would be pretty damn hard if all I had was bitcoin.

The same thing I have seen in the last few weeks, about Scotland paying salaries in crypto.
Example:

1. https://thetokenist.io/salaries-can-now-be-paid-with-cryptocurrencies-in-new-zealand/
2. https://cryptopotato.com/new-zealand-to-legalize-and-tax-bitcoin-salary-payments-from-september/
3. https://www.google.com/amp/s/thenextweb.com/hardfork/2019/08/12/new-zealand-bitcoin-salary-regulation-bad-idea/amp/

However, this does not apply in my country, even though now 1,700 people in my country are already familiar with Bitcoin.
But from another point of view, the government does not forbid and not order, every bitcoin user.
I also hope that this can happen in my country, going forward, hopefully.

That is good news,
and I think that probably Slovenia will do the same thing in Europe soon.

They now have big shopping places where you can pay everything with crypto,
and their Eligma system.

Does Japan not the first? Which few years ago, japan legalized bitcoin and considered Bitcoin  as a legal money on their country.
https://i.imgflip.com/3812ir.jpg
Btw, it's nothing to do who's first who officialy legalized Bitcoin on every country, as long as Bitcoin continue to grow and mass adoption too. Glad to hear this positive news for Bitcoin

Bold and Innovative move by the Government of NZ. But, the real question arises How many employees will want to get paid in cryptos. Banks will still ask for Fiat and not cryptocurrency for Mortgage payments, Credit card payments, and Loan payments. I am also not sure whether local retailers are ready to accept cryptocurrency as a form of payment.

The success of this policy depends completely on the financial ecosystem. I am sure it is still based on Fiat. Until it gets updated, I do not foresee a success.

I totally agree that it will be attractive to receive only a part of your pay in bitcoin. Employees should be able to select/opt how much % of their income should be paid in btc directly.
Certainly not 100% payout in btc at this time since BTC is quite slow and this will also hurt the economy since the velocity of money will be affected due to slow tx.
But once btc is accepted and can be used instantaneously like visa and mastercard and btc is also price stable, then I'm ok with 100% btc payout.

Pretty useless. I doubt there will even be 1 in 100 people who would prefer being paid in cryptocurrencies over regular fiat payments.

Mainstream adoption for cryptocurrencies are just not there yet - barely any stores in NZ would accept cryptocurrencies as a payment option, so you'd just need to sell your coins for fiat currencies and lose out on fees and waste time.

Plus, it's only stablecoins, which is even worse. You are being paid in a coin that's the same as fiat, but doesn't' have adoption like fiat.

Just a PR move for NZ, it's nothing really substantial.

They have been doing this for the last year in my company too, but not a lot of the employees opted to accept this offer, due to the volatile nature of Bitcoin. I accepted the offer, but for only 10% to be paid in Bitcoin. <The 10% of my salary that I would have converted to Bitcoin in any way>

This helps me to eliminate any risk of losing Fiat value in the short term and also capitalizing on the fees that I do not have to pay to convert that 10% to Bitcoin myself.  ;D

It has been discussed with source news. The thread is here, https://bitcointalk.org/index.php?topic=5175021.msg52146161#msg52146161 (https://bitcointalk.org/index.php?topic=5175021.msg52146161#msg52146161)

We have seen previously there was few news about legalization of bitcoin/crypto-currency. But seems eventually New Zealand going to implement crypto-currency use officially. However, it is really good thing for crypto-currency user who live in New Zealand.

No! Check your facts before becoming excited about anything. Japan is officially the first country to offer salaries in cryptos and that happened quite a few years back. Initially we thought it will not be a very popular option for the salaried class people. But it seems like pretty successful in Japan. For reference, you can read the below news,

https://news.bitcoin.com/japan-labor-ministry-confused-as-crypto-salaries-demand-increased/


It's a very old question and asked many times in this forum. I would not personally prefer to receive my salary in crypto because of undermentioned reasons,

1. Price fluctuations - My salary takes care of my EMIs. So I definitely wouldn't want to risk the value of the salary to be volatile. Salary has to be stable in terms of purchasing power. Crypto posses a major risk in this parameter.

2. Adoption rate - Crypto adoption rate in my country is really low. It will take me ages to find a merchant who is willing to accept crypto for my daily purchases.

3. Fear of hacking - In a centralized banking environment, it is possible to reverse a transaction if anything goes wrong. But absolutely not possible in a crypto environment. Once it is gone, it's gone forever!

That is good news for me. I guess that will give fresh air for the cryptocurrency to grow more so the cryptocurrency can reach more people in the other country. But we don't know how the reaction for people who are work in the office, perhaps, some of them agrees to receive their salary in cryptocurrency and some of them do not agree. There will a discussion more about that, but I hope that the employee can choose what suit with them and the government does not force them to obey the new regulations.

As much as i love to hear this and know what it means in respect of adoption and general acceptance, for me i don't think i would want to receive my salary in cryptocurrency, okey that may sound absurd as a crypto enthusiast, but from the point of view of crypto high volatility and unstable price i wouldn't want to receive my salary this way, what happens if the price of crypto goes up or down, how will the coy balance this?

The first company that pays their employee with bitcoin is GMO, A company in Japan wants to start paying employees in Bitcoin (https://www.businessinsider.com/bitcoin-salary-japanese-company-2017-12).

So I don't understand what is the big fuss is all about. We also have to bear in mind the volatility nature of bitcoin here, so I don't know if majority of New Zealand workforce will agree to be paid in bitcoin though.

I'm so excited to hear that and if i have a chance, I'll try.
Not many people will accept crypto payment because they must convert their crypto into cash later. We need cash in every single day to pay for food and others while crypto can't.

It is good to hear that there are already certain countries that are mainstreaming bitcoin use. This is possible in Switzerland because there is support in the government, other countries will have a hard time doing it since it is a complex task that needs cooperation from different sectors. And the only way to unite and make all sectors agree is the government. In our country I prefer to receive my salary in the form of fiat currency since there are many places without internet and not all have access to computers and it equipments and facilities.

I believe it's a good news not only for New Zealand but also for everyone. It would help to give other people,a knowledge about the existence of cryptocurrency and bitcoin. It's also a good news because the government is positive towards crypto.

It would still up to the employees if they would prefer it in fiat or crypto. There would be a lot of rules, options, and limitations about that. It would be better to give more information about it.

news like this are good but not because people are going to jump in and get paid fully in bitcoin. what people miss in cases like this is that such news is putting the ground work in place so that from now on and in a couple of years a big infrastructure could be built because of this first step that was taken today.

so yeah, i am also not going to be willing to get paid in bitcoin yet since the supermarkets don't sell things for bitcoin. but with this they will soon do that too and then i can get paid in bitcoin.

This is for the record, I would like to see how things will turn out, hopefully, it will become successful in New Zealand, then other countries can make them a model if they want to implement it in their own country.

I would also like to get paid in Bitcoin but some companies will have to deal with the rules governing it because of it's volatility and complication
but there will come a time that people will prefer Cryptocurrency over fiat for their salary.

It is something earing and nice to look by, but how people appreciate crypto and accept this as a form of currency, it might not look good.
Though it is officially started, but to know if the people in this country are ready for this and also the market. If bitcoin is accepted in all establishment, then there is no problem but if not, better to stick with fiat rather than offering crypto as salary.

Let's see if this goes well on them, I'm sure other countries will follow their Ideas too. just for the sake of modernity, we need to adopt this latest technology to have an abundant life. but we need to remember we don't need to change our laws we just need to adopt this system to make our people convenience at some point.

Making cryptocurrency one of the Official salary in our country can support the life of Bitcoins and any other altcoins.

I would be on the same shoe of yours.I wont deny that accepting crypto payment with your salary but the main issue here is that on how you'd gonna spent it if there were no sufficient numbers of merchants residing on your place.So its basically useless and come to think that volatility will always be either your enemy or friend. Lucky if it rises after you recieve pay and unlucky if it goes down.If you are aware and willingly to accept it then its our choice.Lets see if how NZ handle such adoption or do make adjustments with it.

For now, I don't want my salary to be paid using bitcoin or altcoin.  Although basically I really want to, my reason is because, in my country.  Bitcoin and altcoin cannot be used as a means of payment

It's the first? I heard the same things before about paying salary with cryptocurrency but i don't remember what country. But it sounds interesting to hear cryptocurrency really used in a country to pay salary and even tax and such.
It might be nice if we like to invest in cryptocurrency, and it might be better in certain situation. Like maybe the value of cryptocurrency increases and then it means we got paid more than if we got paid using fiat. But on the other hand, if we're paid using cryptocurrency and the value drops drastically then we might be at loss then. So it's really hard to consider whether i want to be paid with cryptocurrency or not.

If a company decides to pay their employees with crypto,surely it would be at a fixed rate just like what in New Zealand did.This a an advantage for those crypto holders living in New Zealand because they can now spend their profits in crypto to buy things they desire.

No doubts, I would love to receive my salary via crypto currencies but only I do prefer bitcoin and nothing else. In this case you are referring what crypto? Maybe it is something new, a crypto that will implemented by the government of New Zealand or are they using other crypto that is already in the market?

The good news is to see that companies are getting flexible and that cryptocurrencies could be the option for salary.
Personally I wouldn't prefere that because of volatility and lack of regulation but it's good to have the choice. With time I guess more and more companies will adopt such concept but employees need to have the final decison.

Yes it was Japan that first legally allowed wages to be paid with bitcoin, from what i know it was optional and both employer and employee would have to agree on it. The New Zealand deal appears to be more compulsory for the employer if the employee requests it (more socialist).

I knew that if a company ever want to pay bitcoin as a salary it would be at a fixed price since the company wouldn't have to worry about the price fluctuations.
But if I were to be ask if I wanted to accept bitcoin as a salary? I would still say no. since bitcoin is not yet accessible and accepted by most of the stores in my country
although there companies that accepts bitcoin as a payment the process that I have to go to in order to exchange bitcoin into fiat is not worth it. at the moment the only
upside I see about getting paid in bitcoin is that the price of bitcoin might rise after getting the payment.

i dont agree if i get paid for my salary in cryptocurrency cause i think cryptocurrency have not stable value and I think this can be a problem if the salary is paid with cryptocurrency

Please can you provide a link to proof your claim above because this is the second time I have read about this same issue in New zealand but there is link to confirm whether or not all these claim that new Zealand will soon Start paying employees salary in bitcoin.

If am an employee in New Zealand I will accept payment in crypto currency.

If you will not accept bitcoin as a means of payment then why are you accepting bitcoin now in the signature campaign you are currently promoting. How are you using the bitcoin you earned via signature campaign if you can't use the money you earn in bitcoin in your local supermarket or is it that the market fluctuation is not affecting your purchasing power at the moment and if it does then why do you still accept bitcoin payment in your current campaign?

New Zealand is having the option to pay with crypto other than of fiat if they will accept it IMO. Knowing the fact that not all of them are with crypto or even totally know crypto, it is not fair for everyone. Thus, giving them an option which one will it gives a fair treatment to the people in New Zealand.

I love this change and this country is really adopting crypto as it looks helpful in the future,

Crypto currency is volatile,for me i like to get paid in crypto because there is a chance to have a higher salary if the price goes higher but if my salary is just enough for my daily needs,i think getting paid in crypto currency is not good. It depends on the situation.

So what? You can always exchange the amount that you need and pay with it but hold the rest.

I would love to get paid in bitcoin because I like to hoard it and having it would help me to spend less and save up. It's sometimes hard to make yourself dedicate some money to an investment but getting paid in an investment would fix everything ;)

It would probably be a better idea for you to take a 50/50 ration. I don't really see how this solves anything since you can just buy bitcoins within hours of getting your paycheck.
A better thing would be if a company started paying people in their own currency or the government created its own currency. Perhaps a stable coin based on the country in question local currency value and then it will simply be a digital version of it.

At least they are starting from somewhere, it may not be easy right now or have any major effect as you re right that people would still convert their cryptocurrency into fiat because of the lack of places to spend the crypto since we still have very low and few merchants accepting it, and until major merchants are accepting crypto, before they can really enjoy the benefit of it.

For now, I think they will just enjoy the benefit of their salary increasing when the price of bitcoin increases, but what I still do not understand from their clause is that of the particular chosen currency is pegged to their own personal currency and I  don’t know how possible that may be, well, let them implement it first and we will see how everything goes, maybe other countries will take turn after them also.

For me, I would like to get paid in cryptocurrency as long my country will accept if like fiat money, especially in this situation that my government legalized it. The only thing that I'm thinking is the established salary will be paid only at a fixed rate, but this does not apply to premiums and dividends. But on the other side, this cryptos will not be to volatility because it will turn like fiat money the only difference they are now is the capability that you can do on it. :)

This seems to be good news for the growth of crypto currencies on the world market. With New Zealand being becoming one of the few countries in the world to pay salaries in Crypto is a huge step towards the country’s technological future.
It is a big step and we must keep in mind that a government would not regulate and officialise crypto as a mode of payment unless it has a plan in order. It might just be a beta move on the government’s part in order to see and understand the movements this step can make.
Whatever be the case, it seems to be a good leap ahead and hopefully we could see other world governments embracing the inevitable usage of Bitcoin and other crypto currencies.

Is New Zealand about to mint their stablecoin or going to peg against XRP or the bitcoin. I would have loved it if you had included the source to this post so I read the mechanism of the operation. Good move but hope they wouldn't be making some calculative error.

The problem of this though is taking track of the Bitcoin price.

It is a good thing for them to accept cryptocurrency as a salary since the demand will again increase but they might have a hard time coping up with the price changes since we all know that it will be volatile crypto. It is good but I will be sticking with my fiat salary for now, unless the price of Bitcoin explodes and we are talking about 6-7figures.

Yes, we can buy cryptocurrencies with our salaries which is in fiat. But what matters here is the acceptance of cryptocurrencies by a government which is a good progress.

Company's own cryptocurrency?? No, We want bitcoin. Not a cryptocurrency issued by government. Bitcoin is much more healthy.

Payment of employee salaries using cryptocurrency in New Zealand is not the first time in the world but Japan first, if more countries follow salary payments with cryptocurrency, mass adoption will increase

The price fluctuations are too damn high to get paid a full salary in btc especially when the number of places where you can buy something with it isn't huge (it's constantly growing though). We need a massive amount of time to fully adapt cryptocurrencies and i personally think that such thing will never happen. Cryptocurrencies may be a revolutionary step to the future world without fiat currencies, but i think that cryptos are just a first step. New Zealand government has shown their acceptance and support to cryptoworld, but it's just another step. Anyway - good for them.

Last time i have heard about people getting paid in bitcoin was when the price of Bitcoin was starting to fall down in 2018. It was a way for the company to drop his cryptocurrencies who were falling to his employees if the company know that the coin price is going to fall down.
It is a win situation for a company, as they don't have any exchange fees and can put the price they want to the cryptos salary. They can say that the current price of bitcoin is locked at $11000 to pay their employees less money. But just a few minutes after the price can fall lower.

I really don't like being paid by Crypto.
Getting paid in US dollars is the best thing. I think not only me but also many people think so. Flat money is not much volatile so your salary is worth your job. In addition, for me the main job and participating in Bitcoin are two unrelated jobs. Therefore, my salary should be paid in US dollars to take care of my family, and my savings will invest in Bitcoin to satisfy my passion.