Bitcoin Forum

This is a Must sharing happiness.

Greetings all, Today seems to be the happiest day since i start to Introducing Bitcoin to friends and co-workers.
Is all started when i gain Job in my province just about 30 Minutes drive to my home, I have worked for over +2 years with the local company but we always experience delay of payment either from the cashier or from bank not able to processed our payment, we always received salary from 26th to 29 or even 30th every months maximum but after my 1 year working with the company we started experiencing delays on payment processing it went forth as a thing of thought and it kept bothering the Manager despite what was going on our CEO isn't aware of the delay. As the case may be, they called a board meeting  to know why worker always receiving their payment lately and how we could overcome the delay at a point everyone was given a chance to speak and contributes how we could overcome the delay but getting to my turn i was asked what do i have to say?

All i could say is that " Sir i think is the right time we should adopt digital currency as means of payment"
They asked how do you mean? I went forth by explaining to them; We all can receive our salaries/wages through digital currencies
such as;
1. Bitcoin
2. Ethereum
3. Usdt
4. BNB

But mostly Bitcoin would be more preferable, and the next question i was asked is that how trusted are you with
those currencies and i said %100 trusted being that you could buy and get it paid to all workers is the best and is also left
for them after receiving the equivalent to their salaries to convert immediately to our local currency to maintain
the value we being paid otherwise if there's any change in market it results to either increase or decrease in value.

Another interesting question that was asked then is that " Where and how do we get those currencies"?
I replied " we could have to buy from exchange like Binance, Huobi, Kucoin, FTX and many more" so i was very much happy going
more further to explain all in details, the CEO ask our cashier to download any of those mentioned exchange
and proceed the verifications with her detail.
Thereafter, all workers began to ask if we have done it how do we received our payment, i simply reply for a starter you can as well download any of those exchange or you could download Trust Wallet.
To cut the long story short, I introduced them to receive Bitcoin as means of payment in our work place, though pictures
would have been taken but they said for security purpose i should do away with it ( Not share any picture).

So the introduction took us about +14 good days for everyone to download Trustwallet/binance app, for those who don't
want to pass through kyc only downloaded Trustwallet and i thought them how to secure their phrase/password etc..
Well is really a good news to see i was able to spread the awareness of bitcoin at my work place.

Note: Maximum numbers of workers is 30 including 4 security personnel 34.
Thereafter, all our BITCOIN deposit address was asked and our payments were processed accordingly.
For me i was Gifted additional 25% of my salary which turns to be %125 for introducing a new way to receive salaries without
the cashier going to bank to process our payment and as well to overcome delay payment.

During our meeting i explained to them as a beginner all this including, i also open floor for them to browse more about the information given to them

1. Introduction of Digital currencies                                      Max 48 hrs
2. What is Bitcoin                                                                Max 24 hrs
3. When was Bitcoin introduced                                            Max 48 hrs
4. Why was bitcoin introduced                                              Max 24 hrs
5. Founder of Bitcoin                                                           Max 4   hr
6. Bitcoin wallets/Security                                                    Max 72 hrs
7. Exchange (Deposit/Withdrawal, Buy/sell, P2P)                   Max 96 hrs.   As workers i think that was the only thing they need to know since
                                                                                                             they are only interested in how to receive and sell off salaries.
                                                                                                             anyone who needed to know can easily do his research.

Is been 4 Months now but i refused to share here, reason because I wanted them to be safe and trusted the network they are using
after that, another board meeting was called asking if everyone gets their payment correctly without any delay and they said YES
i received my payment completely.. Though before then I thought them how to sell from binance p2p since we are still on restriction
to buy/sell directly from our local bank. please i beg you all to comprehend my write up as i m not a good writer
but try to derive my points, actually it wasn't easy with me at some stage i feel like not carry out the class with them but as a lover of
bitcoin and adopter of it i have to put my efforts to make sure i have contributed in a way a local company in my place have started using it as means of payment, btw there were options left for some staff to choose whether BITCOIN or FIAT. 80% chooses Bitcoin as salary while %20 choose our Local FIAT.

There are more to say but decided to make it simpler for me.

Thank you
That was how it goes
your contributions are welcomed and more i will keep sharing some difficulties will in our meetings.

It is a nice initiative, but adopting bitcoin or any other crypto currencies to remove delay of payment of  salary might not be achievable because payment of salary is from the mindset of the manager or the CEO. So if bitcoin is adopted and the manager or the CEO is still having the mindset to delay the payment, your initiative is just like a waste. The best approach for such issue I believe is to either charge the management or the workers in the meeting take a bold step to tell the management to stop the delay if the workers are meeting up the demand in the company. It is when the payment is very smooth and without delay in every month then you can introduce another method and currency of payment if only the management accept it. Because it not easy for a company to accept crypto currencies if the country is not accepting it. But you can only teach them. But not telling them to accept. Most of them will not even accept it if it has not legal in the country.

There has been lots of posts about how forum users introduced individuals to Bitcoin in the classroom or in a boardroom meeting. This goes to show that cryptocurrency usage is being encouraged in many real life situations rather then remaining an abstract digital tech thingy, which is used for high risk investments.

Great to see that as much as 80% of the workers opted for Bitcoin as a means of payment, would have been interesting to know how many of the workers did not immediately convert them to fiat but actually chose to hold a certain amount of their earnings in Bitcoin instead.

It is great that you work in a company where the opinions of their staffs
are taking seriously and even considered, many companies will not give you the opportunity to give solutions to their challenges.  I can also bet that your value in the company has increased even without your knowledge. For your bosses, they will give you more preference now because of your valuable and working solution that you preferred to a problem.  Nice one OP, you have distinguished yourself from every other personnel employed in that office.

Everyone needs to know about bitcoins, it is great that you are playing your part.

You have a good point, but in the case of the OP story it was made open that some of this delays are due to the cashier and bank slow processing factors and this are mostly what happens this days in terms of delay in payment of salaries and I believe crypto-currency can actually help because it’s a straight process and no intermediate entity like the bank in the case of the OP.

I really appreciate your action to introduce Bitcoin to people around. Although every investment has its own risks and you also need to be aware that if what they receive is only a sweet profit. On the other hand, the investment will experience 2 cycles of ups and downs, so I hope you will have a sense of responsibility to provide education about the anticipation. So it's not just a plus point, but there are also things where they have to be holders when a bear market approaches.

Digital currency is here to stay. At least I am sure about bitcoin. I join the other users in the comments to congratulate you. I can tell that your organization is a progressive one. One thing I'd like to suggest you do during your next meeting with your colleagues is to talk about their security and privacy with regards to bitcoin and cryptocurrency in general. It's very important.

What about taxation and its legality?
I know all countries have varying payroll taxes, but how's your company tackling the one you got?
I am guessing there's no capital gains tax on crypto? Good for you guys.

It's still not a legal tender tho, unless you live in El salvador.
I would pay my employees a part of their wage(equivalent to minimum wage) as fiat and the rest in bitcoin. To stay out of trouble  :D

You have done well, just as you only have the justification for your role played towards bitcoin adoption, i will also like to pin point some little observations, when you were talking about trust wallet, i think trust wallet isn't still good enough for newbies, at least there's mobile version of electrum wallet which could be of more advantage I can't begin to sttess the need for that.

Also talking about 14days to me this looks more of a bitcoin seminar considering the days involved and I don't really know how you were able to adjust the balance with your job demands within those days, lastly don't just say the good about bitcoin alone, ensure you let them understand the risk thereof.

That's the way to go to increase the adoption and help spread bitcoin popularity. Hearing your story, I didn't expect that your office is directly interested about it only in order to tackle for the lack of certantiy of the payroll time.

That's the concern, you didn't quite tell the finance and/or legal team's stance, I wonder how those teams deal with it within the regulation that reflects your companies in your country. Are they okay with it and already have any regulatory background for adopting cryptocurrencies?

Its really great to hear news on how Bitcoin is used in multidimensional ways. Your suggestion to use Bitcoin as a means of remuneration is innovative and I must commend you for preaching the gospel of Bitcoin. But the company must be aware of the consequences of volatility in using Bitcoin. Using Bitcoin might be counter productive when there is a drop in the price of Bitcoin especially if the company has already made projections and converted  the yearly workers salary to Bitcoin. The drop in price might cause the company to loose some of the money that was budgeted and saved for salaries. It could also turn out to be a blessing to the company if the Bitcoin market experiences a bullish trend. Just ensure the management understands the beauty and sometimes pain of using Bitcoin for transactions.       

That's great you shared about cryptocurrency with your colleague. I don't know how many are really interested, but what you've done will surely influence few people to invest into cryptocurrency. I also have the same concern, just for the delay of salary going for the cryptocurrency usage doesn't looks fair. Maybe some form of payment addition relative to service addition by the company seems to be better than initially going for salary. Because, the volatility will affect the company's financial health positive/negative. The same should not affect the company's participation in using cryptocurrencies.

I don't want to spoil your happiness, but I have a few questions:

1 - if you are receiving salary in bitcoin, how are you deducting money to pay tax?

2 - How are money being deducted to pay for life insurance and health insurance?

3 - Has the government of your country authorized this? Did you consult a lawyer to see if you would have problems?

From my post above, i made mentioned of Local company and the bitcoin payment is only limited to workers within the company. Read again i made mentioned of still restricted from Government to make direct deposit/buy from bank.


I also stated above that out of 100% of the workers about 80% which is ~27 persons accepted to receive payment through BTC while 20% which is ~7 persons waited to receive their salaries through our Local currency our 34 workers in the local company. Bitcoin is not yet Legalized in our country, most of the payment is being covered by the company.

I did something similar to our work back in the day for social media management as well. I worked with an agency basically, as a freelancer, this was like maybe early days of me getting into crypto so it must be about 7 years ago at least, probably more, so bitcoin wasn't even big.

And even in those days there were some companies related to crypto, not projects or coins, these were regular companies. And they needed social media management and I knew about crypto, so I said maybe we should approach them, accept crypto as payment and even though crypto wasn't known a lot back in the day, this was the first time I got into it big time, and the rest came itself.

Nearly every country in the world taxes crypto gains. Most places allow private enterprises to compensate via crypto as well. Legal tender status isn't the biggest hurdle as long as p2p transactions between consumer and sellers aren't tightly regulated. In the future the government could ban businesses from taking Bitcoin if they wanted (I imagine because they would fear tax evasion) which would eliminate crypto entirely within the jurisdiction, but that isn't likely.

Most governments just hope that businesses stick with fiats.

That was a great a move though if it was now it would have been more interesting than before, I can say that your knowledge as then was almost as a novice maybe if is now you would enhanced it more better than before.
All the same, let keeps the good work going putting efforts to spread the awareness and make people know that it has come to stay.

Actually it was pre long discussion about the crypto currency on salary.Because you can get additional money by just holding your salary for say it’s 20%.You are free to sell 80 percentage of salary,you had received from the company.Then hold the 20 percentage of crypto currency for the period of 6 months or 1 year.Then it’s enough to make some good profit from your holdings 20 percentage of crypto currency.With that 20 percentage,you can earn another 10 percentage of money.

Nice one OP what a great move you have made, you just introduced a company of over 20 employees to bitcoin in the most awesome way. If this goes well and I'm positive it will, you may be getting a promotion in the company or at least the upper management will notice your contribution to the company and recognize you as a valuable asset to the company. You have done your part to help with challenges the company is facing disbursing salaries, it is left for your co-workers if interested in Bitcoin to ask more questions and do their research.

Call me a party pooper but I don't think that the delay in your payment is caused by banks or because you are using fiat, I think it is more on the HR or Finance department that is messing up.  It is more on human delay than the payment system delay.

But I applaud you for introducing cryptocurrency as a payment system to your company and eventually getting it approved.  It would be great if you share with us the tx id of the payment to make your story more convincing, it is not that I am doubting your story but it would be great to see that the process is actually done.  You can blur some parts of the address and tx id for privacy.

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Calculation and deduction can be made before the Bitcoin payment is done, then they can just print out the breakdown.

Thank you ❤️.
I have been able to carry as much as possible as I can to help most workers over there though most of them I have one on one class with them getting more familiar with their p2p trading since they received salaries and asking after how to sell it on binance and it involves money they needs maximum attention via selling on p2p and I have given those interested enough orientation to be well guided and also not to release funds if alert is not seen from their mobile phone or login to bank app to see comfirm that they have seen their money before releasing asset to their buyers.

^ You are a good samaritan here but remember it involved money which is considering this as financial advice as well, once they failed to make sure they won't blame you in the end or they will discourage and hate on crypto. Trading is very risky for beginners they need first to understand the concept and its possible consequences of it. But I believe that you can do this alone, mentoring someone is not just easy, probably there will be many struggles that you may face in the future. Good luck and that is a good deeds, I salute with you.

Yes I understand although this few days market change they were very happy to see their btc has increased in dollars price and they were like "boss if I should hold more will the price keeps increasing"? And I said Yes but to be financially advised you need to take out your salary maybe if you wanna buy or wait for next payment to save but I m only guiding on how to be able to sell. So holding is at your own risk.

Possibly but very unlikely. Most managers and CEO don't wish to delay payments of staff and are often not aware of these delays until its brought to their consciousness. The few times delays might be intentional is when the workers aren't doing there job as expected resulting in targets not being met and consequently, delays in payment. Managers and CEO often endeavor to meet up payments of its staff as it is a very good encouragement to work efficiently.

Introducing bitcoin to the local company very much helps as,
> Pay days could fall on weekends when banks are very much not disposed but, there isn't any weekend in cryptocurrency.
> pay days could fall on public holidays and you very much know that the banks won't be disposed and cryptocurrency cuts between that too.

On the whole, it helps. Although, its very important that they know the pros and cons. At least the basics of it to be able to understand how to work the system.

All necessary information and guidance were taken properly tos ensure their maximum security via password, phrase and keys.
I think they enjoyed being associated with digital currency and few has been seeking to venture into other currencies if they could start their investment journey but I said of holding on to be fully understand the system just as you said before furthering ahead to expand your portfolio or investing other currencies.

Thanks for introducing bitcoin or cryptocurrency to your company, you made them aware and that is necessary to help with the adoption process. Things will be easier if we will adopt the new system, that way the company will be able to save from expenses of transporting funds, it's also safer at the same time. Not only you made them aware about this payment system, they will surely find out as well the investment potential.

This is called innovation and OP has played a big part in bringing bitcoin as a mode of payment for wages and salary in the country. Good work done by him.
There are other people around the world who would also want to receive their salaries in bitcoin but their companies will never let them do so. For them, they also have the option to convert their fiat salary into bitcoin through any P2P exchange platform.

The internet is a driving force in bringing online investment, which can boost information and investment in cryptocurrencies, crypto assets are currently very popular with almost all people and I myself am very happy to be able to enter the crypto world and be able to enter this forum and can increase my knowledge about the world of bitcoin, although the government in my country has not legalized crypto currency, and there are no companies that pay employee salaries using crypto but I am very confident with the very rapid development of bitcoin, one day companies in my country will pay employees using bitcoin and the government will also provide more space for crypto users.

Every corners of the world doesnt really accept nor recognized bitcoins existence or crypto as a whole and same goes into those individuals or business owners which even if they do reside into a place

where crypto is still in neutral phase but havent made out such decision on adding up payment integration on adding up bitcoin then its neither they dont have any idea on what it is or just simply doesnt
really like volatility.

Some do make out some move and it is really a good way on spreading out awareness specially on Bitcoins existence which is something recommendable.
Opportunity doesnt always talk about money making or profits but also into its actual utility.

Obviously bitcoin is now getting viral with individual mindset and it's becoming a norm to some people speculating the name of cryptocurrency and especially bitcoin. It's quite good to teach some people the technology of cryptocurrency and believe that creating the pathway to impact the knowledge of Bitcoin as a decentralized currency to people. You have to consider two way of educating people. The advantages and disadvantages impact of cryptocurrency.

With the company haven't test run bitcoin for over 3months as stated in OP and there have probably been no further delays in payment, it is by far a notable and we'll appreciated development. Besides, you got your 25% bonus for it and that's to say, you did some a problem by giving a solution that mattered and in turn, won over some investors by sharing what was just an option at the time.
Surely, your company and staff have got a lot to gain out of this initiative especially with the fact that, they approached the market when it's bearish although, I doubt they fully understand as they didn't feel the impact but, for the few that would practice some holding, they would be very grateful to you at OP when the bulls come around.

Well, I can still say it's a nice way to start; at least put the information out there. However, there are certain observations I've made. One is the issue of privacy. I mean, I wouldn't be cool to let every Tom Dick and Harry at my work space know I earn in Bitcoin. It can expose one to dangers of work place envy and plot to hack or harassment for one's password. Secondly, that staffers get paid with Bitcoin won't mean much if they don't get to hodl some of it. I know those workers will convert to fiat almost immediately and start spending because salary is never enough for most people in the country. I know you're a Nigerian too.

Just as i have said before @MP, they mostly converts their salaries immediately they received it only those that are closed to me that are seeking courage to hold since they always note that i m holding mine. Talking of security aspect, while creating their accounts i specifically instructed them to buy notebook and as well store it in their notepad maybe for any reason and warned them not to share their phones with colleagues in workplace or at home, they should keep their phone away from their kids and many more. i m still working on how they would be able to holding their salaries without selling after they received it.


I'm for sure.

Bitcoin is digital currency that is not centralized, from the beginning it regulates itself through the determinant of the demand and market supply because it's a decentralized currency that operate on its own without government interference.

The introduction of cryptocurrency and especially bitcoin come up to people awareness in the 2009 and when it was introduce not many countries that embrace the system of cryptocurrency transaction or as means of exchange until it became popular to many nations through internet advertisement. And also what is keeping cryptocurrency long way is still the internet advertisement and promotion.

It's unstoppable regardless of most country limiting it the mass spread of individual coupled with the internet advertisement kept it gluing and gain attention around the world. Yes we as early adopter can as well try our best via conference, meeting and television show and also hosting some talks on radio station is making more effect on bitcoin.

You can try your hand on anything you want that is not online world, but that is the best place that this gets attention. From social media to youtube to forums like this, there are a thousand places where people could talk about crypto.

And we are not like the old generation, we realized long time ago that we need to do stuff that are silly to explain long before we got into it, because we know that the real world would not allow us to live a life like our parents lived. This is why it makes sense to just invest, and do that online and let people know all around the world by showing it on your social media, like twitter or instagram so you know what you are doing.

Yeah basically we are here and we would try our best to bring to it brim by doing all social activities and meetup, conference and person classes and most especially teaching it in school would really help a lot which will help by sinking it their brains as up growing students. The only barrier here is government and I believe one day they will come to their realization and adopt it generally that will call for legalization.

Dont anticipate nor being that positive or hopeful for this thing to happen because it cant really be just possible that every corners of the world would really be having that kind of opportunity where crypto

could be easily adopted or allowed to flourished out on a certain vicinity yet we know that centralization would always be having the priority as long government exist then they cant really just let things happen.

Recognition and popularity would normally be moving on its way into the top or peak spot and if we do make out comparison into those previous years or early ones compared to the present then we had moved
up that much which is something great to look at.

I was smiling while reading your post OP. It may have been a few days after you publish it but you did a great job for standing up and suggesting about payments in bitcoin for your company. Most CEO won't agree with that as they also have to protect their employees through volatility.

But since they're not aware of it and most likely they're also selling it as soon as they've received it, it's not that much to think of. In your stand point, I like it because you already have it on hold and there's no need for you to buy it directly from exchanges.

At the same time, this adoption by company did great and look at the numbers that has the idea now of what bitcoin is.

Educating people, especially to the higher position in the company is really a big challenge and more often was just ignored. But I appreciate your courage and the way you have taught and educate them, you will possibly have their attention and be able to change. As they clearly understood how this really works and applied in real life, such as salaries, mode of payment, etc...not that hard for them to see the benefits for the company to get and less hassle on their side.

Some companies are in doubt to adopt Bitcoin because of the lack of information. They need strong and knowledgeable personalities to start and educate them.

Though what I noticed from the introduction was fear but after going deeper in explanation make them get the key knowledge then the fear was conquered. Before many people in the work place never understand how it was and they felt it was a Ponzi scheme due to past experience from fraudster trying to use the name of bitcoin to extort money from innocent citizens who doesn't know their way about bitcoin purposes.

This is absolutely great in every way. I enjoyed reading each and every word as I observed how you were able to persuade the CEO of your company to accept the use of cryptocurrencies. Every employee will be overjoyed to start getting paid on time, I know it. People need to be aware of these things for cryptocurrency to become more widely accepted. I have no doubt that your coworkers will be eager to spread the word to their colleagues who work for companies with similar payment challenges. I wish the CEO continue enjoying the service and also success in spreading the concept to similar companies. You deserve praise for simplifying things for your company.
I just hope the payment procedures is still going fine and no challenges have been encountered since then?