Bitcoin Forum

You can:
https://www.bitwage.co

I have been an advocate of a Bitcoin Credit Union because I thought that this was the only way to get paid in Bitcoin by giving your company a direct deposit number. But it looks like this company has figured out how to do it by going through payroll services (I think).

I signed up but don't have my phone for authentication but I will definitely try it out and let you know how it goes. I would love to get paid in Bitcoin. With a Xapo card and localbitcoins for cash I can drop my banks very soon.

Update:
I was able to get my account set up and log in (I had some complications because I live in Germany working for a US company). Their customer service is great, my problem was sorted out quickly and easily, if you have problems click the little chat window on the bottom right of the screen.

Once I got my profile set up it asks for my company name, company website, my company's payroll company and the payroll company's website. Most of us do not know these things offhand and will need to work with your HR. I will be working on this to see how easy it is from there and let you know how it goes.

Update 2:
I e-mailed my HR and asked what payroll service they use because I needed it for bitwage.co so I can get paid in bitcoins. They responded after what appeared to be a long e-mail chain bouncing around all over the payroll department asking if anyone can help out, finally responding that I need to speak with my specific HR representative. Fortunately, in their lengthy e-mail chain they are talking about the Payroll company they use. So I submitted that to bitwage.co and I am currently in the verification process.

A bit of advice when asking your HR department about your payroll company: don't tell them it's for bitcoin or bitwage. Just ask for the name of the payroll company. You can use google to find the website from the name. You can tell them why after they give you the name but mentioning bitcoin is like going to the train station and saying you're going on vacation to Hawaii and what is the best route to get there.

Update 3:
My Verification level 1 was completed. I was able to do my Verification level 2 by submitting a photo of my ID and proof of address. Once that was verified I was able to get to the part where I enter my Bitcoin Address. With my Bitcoin address entered they provide me with a bank account and routing number to give to my payroll for direct deposit. My direct deposit website at my company allows me to create a fixed dollar amount account and a net account for anything over that amount. I stuck a test amount of $500 in my fixed dollar amount to go to the Bitcoin direct deposit. Now I will wait to see if it goes through.

Update 4:
Just got an e-mail saying my payment went through, $500 at $317/BTC -> 1.56992012 sent to my Bitcoin address.
Next, I will convert all of my paycheck to bitcoins. I can covert BTC->USD as needed.

Getting paid in bitcoin is a huge step in making the economy grow, quite possibly the biggest single thing. 

So apparently 250,000 people have/use bitcoin (not sure if that is accurate) imagine just 10k of these getting full wages in BTC.

10k people getting paid on average $2k every 2 weeks would bring $20 million into the Bitcoin economy every 2 weeks.

Wow this would be good if one of these could open in every single country at the moment it's limited to 50 states of america.

Interview with Jonathan Chester the Co-founder, Chief Strategic Officer and Compliance Officer with BitWage.
https://soundcloud.com/reverendjohnny/get-paid-in-bitcoin-with-bitwageco-the-future-of-payroll

Once this starts rolling, it is going to put forth positive growth towards the BTC economy.

It is a risky business, putting your wages into bitcoins. If I could pay my electric and water bills with bitcoins without any trouble, I might consider, but the bitcoin is too unstable to rely my daily income on, I am at the moment a slave of my mortgage and other bills I need to pay, if it does not add up at the end of the month because btc plumeted I have a problem.

Given the fact most bills need to be paid just right after my salary comes in, it would probably work out without too much los and maybe some profit, but it would not be a bitcoin economy, but a conversion from bitcoin to the current currencies to pay the bills and a correction on my salary each month, if the btc to $ rises, the amount of btc of income would be lower, if it falls, it would be high.

That is why it is not for everyone.
It is on a pick and choose basis.

Individuals in your predicament who are broke should not opt-out of fiat just yet.
Mind you I said broke, not poor.

Sit tight...

I would like to recieve in Bitcoin which is automaticly hedged. Would be nice to be possible

all businesses and jobs took risks. and it is reasonable, depending on how we think to reduce that risk. and with the same bitcoin, bitcoin risk must exist when the price goes down, but when the price goes up you are not enjoying it too , :D

I'd like to be paid 20% of my wages in bitcoin. I can use 80% of fiat wages to pay only accepted fiat bills and spend the bitcoin at the bitcoin friendly stores. So I don't need to  bother to convert them to each other when necessary.

That is a good idea. I would like to treat BTC as saving/hedge against inflation and use it when necessary.

Excellent idea. But the thing is,bitcoin will always be in the rope and accepting that as a payment would be a brave mood.

Well i am in the middle off getting a web page made up for my work, And i will be offering part payment in bitcoin for work carried out.
Got to give it a try :)   nothing to lose.

Agreed. I've been saying this for a while, especially over the past 6 months as people have been trumpeting the various merchant-acceptance announcements. That's obviously a great thing long-run too, but the situation has gotten too lopsided, and we need more bitcoin wages.

Love seeing the Bitwage launch. Hopefully this and BitPay's Payroll API (https://bitpay.com/bitcoin-payroll-api) will start to close the loop...

Yeas, I would like to get paid in bitcoin, maybe this could be a good way to increase the bitcoin popularity !

No way!  I mean sure it'd be an interesting venture but doubt I could handle it, but I'd probably not say this is bitcoin shot up in price afterwards lol.  I just don't think the stability is there yet, not to mention how it's still manipulated.

Of course. But i prefer a way that allow me to held my bitcoin and not convert instantly with Bitpay. So, I appreciate this type of system and not Bitpay which decrease the bitcoin value  >:(

I'd prefer gold. That working without Internet and probably not fluctuate 50% within a few minutes :). Maybe later.

IMO both are very necessary for Bitcoin to gain usage. Without any retailers willing to accept Bitcoin (or at least major retailers) there won't be that many people using it as a currency and more as a store of value. On the other hand you need people to have a means of easily getting Bitcoin (exchanges while not difficult to use may to some extent intimidate an average user & it feels as if you're already trading 'money' to BTC rather than to another currency) and this provides another point of access for those people.

i don't think i would want all my pay in bitcoin just yet, the market can be very volatile. BTC could easily lose 10-20% overnight and a $1000 weekly pay check might be $100-200 lighter. Would make it hard to budget.

yeah, i would like.
but u know if everyone can get paid in Bitcoin, then who else would stay in bank or company?

I would say that we need to see more merchants accept bitcoin that also offer some kind of discount/incentive for paying in bitcoin. If people are paid in bitcoin, but have no incentive to actually spend their bitcoin in the bitcoin economy then they will simply sell their newly acquired bitcoin on exchanges

It's much easier to exchange fiat for bitcoins myself and I wouldn't want a bankaccount at some new unproven-to-be-safe bank.
This looks as an effort to centralize things and should not be trusted blindly.

Agree with this.
Right now, I'm paid in bitcoin through my bitcoin signature campaign, but still I don't see many good shops or merchants, where I can spend this earned bitcoin.
So, mostly, I still have just 2 choices, to keep this bitcoin or withdraw.

More and more people are taking this option.

Updated the OP. Will post more until I am finally being paid 100% in Bitcoin.

Updated OP again.

I set up a test case so that $500 of my paycheck gets paid in Bitcoin.

someday people might not have a choice.  they will just get paid in Bitcoin by default.

Over 7 millions people life in this planet, not everyone can get paid in btc ::) especially bangladesh ::)

I wouldn't mind having a certain percentage of my monthly salary converted to bitcoin. I think there is a way to do this with coinbase?

You can do that with bitwage.co, check the OP.

Does your direct deposit allow you to put a percentage into multiple bank accounts?

Updated OP again.

I was able to get $500 of my paycheck converted to bitcoins. Went through to my Bitcoin address. Next step, full bitcoin paycheck.

At the moment, I'm paid for my signature campaign.
It will be great one time in the future, to be paid in BTC for my regular job, to receive my monthly salary in BTC :)
Of course, main condition for this will be to be able to spend this bitcoin everywhere, like dollar or Euro today.

$500 is a great outcome for starters. congrats.
I will wait until there are more spending options in my geography, then follow your example

It is also risky to get your pay check in fiat. Ask anyone in Russia...

I find it a little bit to risky at this moment. I prefer dollars or euros and spend the part i want to in bitcoins.

I don't want to get paid with something that's already going out of fashion  :)

OK.
That's it.
The gloves are off Young Mike.

I hope you are not too young because i am going to kick your arse.

Shut up newbie-boy  :) I'm the man. I made profits a year ago and now I'm the winner and those who came too late in the game and are still on the boat are Bob's food  :)

That is pretty awesome!

I would love to see scam mails show up from Nigerian princes that say there is 20,000,000$ in bitcoin free to take, only use this client to claim your bitcoin heritage...

Who wouldn't ;D That's just another huge step to the Bitcoin economy , BTC to da moon  ::)

Corporate payments in BTC will be the future.

Congrats Elwar, i might think about doing this now.
We already have https://www.livingroomofsatoshi.com/ here so my bills are covered with BTC.
Food, well member glennmatthew has that covered here for me https://bitcointalk.org/index.php?topic=797982
I dont really need fiat anymore.

I already do get paid in bitcoins :-)

Not really. I do somework online for which I get paid in bitcoin. For my fulltime job, I would like to stick with FIAT as that can be used everywhere and bitcoin is still in the adoption phase.

No, swings are too big.

you shut up

a man eh.

nah smug boy more like.

So you got out last year. OK well done.
Now you come on here trolling how low it is going to go.

You know when else the swings were too big? When the price was jumping from $8 to $4 and back within days. Now people wish they bought bitcoins back then but people had the exact same reasons for not getting into Bitcoin then.

YES! :)

600 to 300 is a pretty big swing imo :)
Even the one from 0.03$ to 1300$ was :)

Probably yes, why not  ;D Bitcoin can be payment without any problem  ;D

The risk is in the price. If you are paid 100K per year and price halves, then you could potentially lose 50K.
THats the risk you should be willing to take.

You sure?

People will convert their coins into fiat in order to pay bills.

And if a company accepts bills to be paid in Bitcoin, then they just get fiat from the payment provider.

Either way, the Bitcoins will get sold.

But that will be balanced with the bitcoins being bought by the company in first place.

Could be, but this won't cause the price to go "to the moon" as some one mentioned.

It is all about liquidity.

If there are 1 million bitcoins available for trade and 100,000 people get paid 10 bitcoins per month there is a length of time between when those people obtain the bitcoins and they sell them.

If per month people keep their bitcoins for 2 weeks (get paid every other week, it takes a week before they cash them out) then the bitcoins available throughout the month is cut in half. This changes it from 1 million bitcoins available for trade to 500,000.

Every instance where bitcoins are taken off of the market contributes to a higher price.

I understand that, but that's if a lot people agree to get paid in Bitcoin. In current situation it won't do anything.

At this point it's pure gambling with your income if you decide to get paid in Bitcoin as you might end up with a huge loss or gain.

Makes it not very appealing to get paid in Bitcoin, with bills to be paid such as mortgage, insurance, car, electric, gas, etc

getting wage in coins wouldnt be cool cuz there are not enaugh places that accept coins

There's really no risk right? If you don't believe in BTCs, then covert them to fiat. Otherwise hold them in BTCs and hope for long term growth and to spend. Or a mix of the two. What's the harm?

I start my new job at a very large petrochemical company next month. Hopefully their payroll processor is able to do this for me. With the amount I'll be getting paid I am hoping to put 40% into coins automatically this way, and continue living like I this amount was taxed from my wages, to encourage me to hodl.

From the looks of it, if you can do direct deposit, you can use bitwage.co.

interesting, will look into this

No I wouldnt like to get paid in bitcoin, at least not currently. The price is too volatile at the moment and actually tends to drop more often than not, so I like getting fiat and buying what I can afford each month.

Totally agree. Currently bitcoin is not strong enough to get paid in it.

Well..

If your payroll is @ $500..

BTC is @ 325.00

When you get that $ from BTC.. & let's just say tomorrow BTC rises to 334.00

How happy would you be?

FIAT doesn't increase in value. BTC does :)