Can we adopt altcoin to pay wages?

[Lieldoryn]

Wages are subject to the laws of the state. The employer has to pay social package and you have to pay income tax. How do you imagine doing this with altcoins? How will the courts consider disputes on violation of labor legislation? It's not real. I don't even consider the volatility of cryptocurrencies.

[MiChaeng]

Can we pay salaries and wages in shape of altcoins?
What problems can be occurred to adopt it? 

in my opinion it could be. even I've read the news that there are companies that pay employees with BTC in one country, but I forget exactly where. which certainly the country has legalized bitcoin.
if for a problem that will arise may be in my opinion, income will be accepted. because the price of fluctuating bitcoin will make the income so uncertain.

[Early_Waffle]

You can only if the market is stable. But this is practically impossible, given the small market capitalization of large markets affecting the cost of bitcoin.

[AK47-]

Why not?

If your employees are ready to accept payment in cryptocurrencies, then there is no harm in adopting an altcoin for paying the wages. But since, cryptocurrencies are highly volatile, it is highly unlikely that anyone would be willing to take payment in predefined amount of altcoin. But you can set a dollar value and you can pay in altcoin equivalent to that dollar value. Else I don't see people will be willing to take a payment in something that could go 50% down or up the next day.

[Pikachu12]

very difficult. Because altcoin and all pennies in crypto are unstable every day. It can be down to less than 10% per day. So if the price goes up then the payee will get more profit. And if prices go down they will lose money. So it is very difficult for them to pay wages with altcoin

[Early_Waffle]

An excellent option for promoting altcoyin and crypto. The only drawback is price volatility, but this is a normal situation.

[entr]

I do not think any benefit from paying with altcoins. Usage ares are limited sooner or later you have to exchange it for fiat money. Also, it can be painful with the tax related issues.

[Bitcoinjheta]

Possible it can be made through pay wages the only problem of altcoin are the unstable value of coins in digital market. In this situation few people will definitely not interested in this kind of strategy.

[Coffee135]

I do not think any benefit from paying with altcoins. Usage ares are limited sooner or later you have to exchange it for fiat money. Also, it can be painful with the tax related issues.

Do you think that getting a salary in Fiat is not related to taxation? Lol. The portion of taxes pays for you the employer and the part you pay personally. A lot of people don't even think about it. They do not worry about the money that the employer pays. But that's your money, too. And they are paid from your income, but you do not see it.

[erickkyut]

Using cryptocurrencies as wages have risks. We all know that the market is very volatile. Every minute, the market price changes. I doubt that it is a good idea for now to use cryptocurrencies as wages. Maybe it is possible if the amount of coins that will be given as wages is equivalent on the current market price during the payday.

[damberg]

Can we pay salaries and wages in shape of altcoins?
What problems can be occurred to adopt it? 

There is one biggest obstacles - taxes. You have to get paid in currency in which you can also pay taxes (primarily income taxes). It is a core principle of all economies in the world. Therefore the first step is for states to accept cryptocurrencies as means of taxes. And of course volatility is also my concern.

[Clay99]

Yep depends on the country you live in - Taxes etc and how the country handles Crypto? Is it currency, and asset, token, security?

[acell101]

Can we pay salaries and wages in shape of altcoins?
What problems can be occurred to adopt it? 

No.because wages are in fix amount..altcoin is volatile..this can only be adapted on crypto company but in others it would be impossible,,also others dont have an access to internet while others are uneducated,,so it will be hard for them..

[BioBuff]

In addition to the issues mentioned; employee acceptance, value fluctuation, etc... I think the biggest challenge would be meeting the legal requirements of many countries such as minimum wage, deductions for retirement and healthcare, and taxation.

A combination of wages/salary in fiat and bonuses in crypto may be the best option for business wanting to go that direction. That would taxation models etc. based on the allocation of stock options and other benefits.

[Ostonian]

This is inexpedient, since the price of altcoins constantly jumps and it is not stable. I think people will not be happy if each month they receive a different number of coins.

[Proc.dev]

Can we pay salaries and wages in shape of altcoins?
What problems can be occurred to adopt it? 

Interesting proposition.
However to do this alcoins must be legalized by any number of governments.
Also altcoin for this issue should has stable market and should be converted in cash at any time.

[Sam$oN]

I think the course is slightly to stabilize before starting such innovations. And then just hang accounting making adjustments.

[chrisfatos]

It would be very tricky and perhaps somewhat unfair to people who do not want to join the crypto world.

[guschinaa]

Can we pay salaries and wages in shape of altcoins?
What problems can be occurred to adopt it? 

Following problems can occur:

1) All people would not accept getting paid in crypto because of price fluctuation.

2) There can be legal issues also as all countries do not allow this as per wage laws.

[mostcrack]

So it is not appropriate if altcoin is made at nominal wages, money must be clean in that amount, usually coins can be called for investment so it is more suitable to invest when done as wage payments that are likely to fall or rise after received by the person no matter if the price rises if the price goes down it will be your inconvenience as CEO there will be complaints everyone, for me it is not right because the wage payment is very risky to go down and may be confused plus cutting each transfer, and will cost a lot.