Bitcoin Forum

Perks are supposed to help companies improve motivation and retention, but most are $$$ or employees don't care. So on top of whatever compensation is made, why not offer a crypto cherry on top?

Through Quidli (https://quid.li), crypto can be offered as a light and flexible perk for employees who may not know much about blockchain/Web3 to get more excited about it. Our latest release (https://perks.quid.li) is a simple interface that enables you to:

• 💳 Directly buy or deposit $BTC
• 🚰 Deploy crypto as much, or as little, as you need
• 🎁 Reward your teams from a single interface
• 📈 Team members can freely manage, transfer, transact

Check out the Quidli landing page to learn more.

You can also refer to this quick explanation video (https://www.loom.com/share/5817f16e128b4082851471d04e973a9d) or User Guide (https://www.notion.so/quidli/2c8651e4526b48cba63d532eecad72bc?v=ff455e1191354747b6585815d29932e0) to get better understandings.

What do you mean by the $$$ sign in your first sentence? That said, your promise of providing some extras as incentive for anyone subscribed to your services is a good one. But are there are evidence of those who have actually benefited from this or is it just another audio benefit without reality?

Not a really bad idea.
Are there any features like recursive payments? Every month on the 15^th a certain amount is sent to the employee's wallet?
Where would I buy the BTC from? You? What commissions do you charge?
Is it a monthly subscription plan or transaction fee?
Do you send invoices for the BTC purchase?

Gl with this.

By $$$, I mean normal perks offered by companies today tend to be expensive. For example, in corporations these are often things like monthly gym passes, catered meals in-house, access to catalogs of deals, etc. that require fixed amount payments to the service providers. And for real startups, that is difficult to match when trying to attract talent. Plus, most employees stop caring about such perks after some time.

With crypto, it's a lot more flexible because you can determine how much you want to give via the fractionality of it. Sure, you can also give cash but then at that point you may as well give bonuses which are more a part of compensation. But as perks are largely symbolic, giving Bitcoin to an employee who otherwise wouldn't make the effort to acquire it is like giving them something to invest in.

In terms of evidence, it's proven that employees are attracted to companies that offer benefits and perks. But again there is little flexibility in perks today and so they end up meaning little over the long term. For us, the point is to be a gateway for people who may be interested in owning Bitcoin but not wanting to mine it, buy it or deal with any of the complications of getting it. It's another option to offer as people's tastes grow more diverse and unpredictable.

Are there any features like recursive payments? Every month on the 15^th a certain amount is sent to the employee's wallet?
Today it's manual but more programmability is on our roadmap to build. If you have any specific ideas on functions you'd like to see, for sure let us know.

Where would I buy the BTC from? You? What commissions do you charge?
Today we act as the in between for purchasing BTC. At the moment we don't charge any commission as our users are dealing in small amounts. But we'll likely add a transaction fee in the future if there's greater volumes.

Is it a monthly subscription plan or transaction fee?
As noted above, we do intend to add transaction fees down the line. There will also be a nominal monthly subscription for hosting the wallets (at the basic level, $1 a wallet/month) but at the moment we charge nothing.

Do you send invoices for the BTC purchase?
Yes, we do.

Happy to answer any other questions you may have!

From the video, you didn't show what payment processor you're using for buying BTCitcoin on your platform. Care to share?

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Is it required for team members to submit documents for KYC or that's needed from the company creator only?

From the video, you didn't show what payment processor you're using for buying BTCitcoin on your platform. Care to share?
We use PaymentCloud as a payment processor today. If you have recommendations on others, do let me know!

Is it required for team members to submit documents for KYC or that's needed from the company creator only?
At the moment, we perform KYC with the company only. Accordingly, at the moment, we're assuming companies will have an idea of who is working with them as a form of KYC. I think it's something we'll need to deal with more, but it's just not the biggest focus at the moment.

Probably more like what a Japanese company recently did, they gave out free Bitcoin to all shareholders as an account balance on a crypto exchange they owned.

But what immediately comes to my mind is Bitwage, where you can pay your employees in Bitcoin. They get to set the % of salary they would like to receive in BTC every month, all or 10%, up to them. You could offer to pay all their performances bonuses in BTC too as incentive. But in my experience, only something that doesn't cost them anything would work.

Could work, but most people don't like additional work on top of what they already do.

Agree 100% with you that "only something that doesn't cost them anything would work" in terms of increasing adoption.

We've talked to many companies, workers, founders, CEOs, etc., and while interest in crypto, owning crypto is generally high, not many people are willing to take their entire compensation for it (a la Bitwage). This is why we've built a more passive way to receive for employees - more as a perk, a reward, similar to how Lolli makes BTC a reward for shopping. And so all the companies we work with today treat BTC  as a perk alternative that an employee can choose if they prefer it over, for example, movie tickets or gift certificates.

Correct me if I am wrong. You ask the manager to trust your platform and deposit all the money allocated to the team to help him distribute it to them (Reward your teams with crypto)?
it is very dangerous, you don't even provide a multi-signature wallet as the manager can prevent you from stealing the money.

I recommend that you use https://www.bitgo.com/, and that the currencies be either for testing coins or for assistance without depositing any real coin "just an update to the database, not deposits."
You can earn money by providing paid features.

Sure, from a pure technical perspective, you're right.

But our aim is not managing large amounts of BTC for crypto savvy business owners, companies. It's to offer a simple platform and UX for people who'd otherwise have difficulty accessing Bitcoin, in a framework that provides a reason to passively receive it. The transaction sizes we see today are typically small; and we provide the option for users to immediately withdraw. And on the available app, as you noted, we "provide just an update to the database."

Certainly we can and will provide more sophisticated and multi-sig features. But again our aim at the moment is increasing accessibility and understanding. It's not to build a tank to swat at flies. I hope that makes sense.

Bitwage actually lets you take as much % as you want as Bitcoin, and I know now also there are some solutions like BitPanda (I'm not 100% sure how it works so I could be wrong) that let you also set your "savings" automatically converting either a set amount or a set percentage of your balance in fiat at a set time. Sort of like enforced savings systems that I manually do myself anyway (except the other way round, converting a forced amount of btc into fiat!).

But both still mean you actually lose money (via exchange rate and commission) which is why there's still poor uptake IMO. Good luck and let us know how it goes.

Appreciate the insight, feedback!

FYI, in our first week live, we've onboarded 4 companies and have facilitated ~$200 in Bitcoin purchases and distributions. Not lambo standards at the moment, but we hope to keep building up from this :)

If you know any projects or companies that can be interested, please do refer us!