The first country in the world. Officially salary in cryptocurrency!

[yazher]

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.

[dunfida]

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.

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.

[ribowo76]

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

[nightxglow]

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.

[Finestream]

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.

[kaya11]

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?

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?

[bitbunnny]

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.

[Artemis3]

Does Japan not the first? Which few years ago, japan legalized bitcoin and considered Bitcoin  as a legal money on their country.
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

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).

[acroman08]

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 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.

[nankers]

Would you like to get paid in  cryptocurrency?

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

[Ahiaba]

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.

[Ahiaba]

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.

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?

[Kasabus]

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,

[Alert31]

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?

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.

[pixie85]

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

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

[Herbet Fry]

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.

[jostorres]

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.

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.

[jakoylantern]

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?

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.

[tiedcoin]

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.

[Leonardo7]

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.