Getting paid in Bitcoin vs getting paid in Fiat

[rina aulia]

I think for now fiat currency is still very dominant in any field, whatever we want to buy, it is definitely fiat currency which is always the main choice, because there are still many countries that do not want to accept purchases in bitcoin, and are not ready to be paid with bitcoins,

Maybe if living in El Salvador we will get salary in bitcoin because bitcoin adoption is legal there, my country has not legalized bitcoin so I have to convert some of my salary in bitcoin for long term investment.

[Iranus]

I think for now fiat currency is still very dominant in any field, whatever we want to buy, it is definitely fiat currency which is always the main choice, because there are still many countries that do not want to accept purchases in bitcoin, and are not ready to be paid with bitcoins,

Maybe if living in El Salvador we will get salary in bitcoin because bitcoin adoption is legal there, my country has not legalized bitcoin so I have to convert some of my salary in bitcoin for long term investment.

There is no chance to make a profit by getting paid fiat. But you can make a huge amount of profit by Getting paid in Bitcoin if you have characteristics for holding payment long term. Think about my salary, I've gotten 8 payments during the last 2 months, and each payment was received at a below $32k price range of BTC. Till now I'm holding the full amount (nearly 0.0064BTC~200USD @31K price) and decided to sell when the price will go $50K again. So, it is clear if I will sell it @50K price range then I will be able to make 60% extra profit by holding it for 2 months.

[bitzizzix]

If I had to choose, I would like my salary to be paid in bitcoins and if paid in fiat I would also definitely buy some bitcoins from my salary so the two complement each other.
the advantage is that i don't need to buy bitcoin if i get paid with bitcoin and only convert a small part of btcoin into fiat to meet my needs for one month and the rest i keep in my wallet and i will do it every month and my bitcoins will keep growing every month which will provide doubled profits when the price of bitcoin rises.
actually both are the same, in salary with bitcoin we will still convert some into fiat to meet the needs that do have to use fiat, and if paid with fiat we will also convert some into bitcoin for investment.

[Dread Pirate Roberts]

Which type of currency is better for paying employees? Is it Bitcoin or Fiat? Do you think we'll be able to see more jobs paying Bitcoin in the future? Or will Fiat still dominate the jobs industry? Is working for Bitcoin just like working "under the table"? Your input will be greatly appreciated. Thanks.

I just support that concept but imagine yourself being someone who never knew or interested in crypto. maybe the people who work also have no thoughts of investing or saving. or for daily needs they are still thinking about it. so it seems this question is an personal opinion because there is no which is better or not. for me flat and crypto is the same in context both are had value.

[AakZaki]

if we receive our salary from the company, if I will definitely receive a salary in fiat currency, because if with fiat money our money remains on the market our salary, no more and no less, but if we accept it with bitcoin, of course we must be ready with a risk, if the price goes up we will get more profit, but if the price is down, of course we will lose some of the salary we receive, it all depends on each choice..

what you explain agrees with me. If the salary we receive is in the form of Bitcoin digital currency, the risk of price fluctuations or the rise and fall of the Bitcoin value is higher and risky. better to use Fiat for the salary received. Investing in Bitcoin is a choice and not a compulsion for everyone. Salary with Fiat will be safer and the value will not change.
However, for people who work in the cryptocurrency environment, payments using bitcoin or other coins have become commonplace. there is no other choice, it all depends on the developer who holds the project.

[tanjiran]

Which type of currency is better for paying employees? Is it Bitcoin or Fiat? Do you think we'll be able to see more jobs paying Bitcoin in the future? Or will Fiat still dominate the jobs industry? Is working for Bitcoin just like working "under the table"? Your input will be greatly appreciated. Thanks.

I just support that concept but imagine yourself being someone who never knew or interested in crypto. maybe the people who work also have no thoughts of investing or saving. or for daily needs they are still thinking about it. so it seems this question is an personal opinion because there is no which is better or not. for me flat and crypto is the same in context both are had value.

most people might think that if employees are paid with bitcoin then it can be an investment at the same time. indeed there is a big profit opportunity if the price rises or tends to stabilize, but it becomes painful when the price drops and the owner sells it too late, it could be that the salary he gets is not what it should be. That's why if you want to take advantage of advances in crypto technology in paying salaries, it's better to use stable coins. but it will only be effective if most of the employees have understood the functions and uses of crypto.
it is better to ask for the approval of each employee because they are the ones who know the priority of what their salary will be used for.

[haidil]

Yep. Even people who know Bitcoin probably don't want to be paid in Bitcoin as they know it is very volatile. If it is their primary job, I am sure they prefer to be paid in fiats. It will be easier to use fiats to buy all stuff (goods) and the value of fiats isn't volatile as Bitcoin. All the employees should think about this, and they are likely to choose fiats because of that consideration. We cannot force them to be paid in Bitcoin, especially in a country that Bitcoin cannot be used as a legal payment tool.

True,  employees will definitely prefer to be paid fiat rather than Bitcoin, with the reason maybe even though they know what Bitcoin is and the things of its advantages, a daily freelance employee needs to be paid to meet their needs without the hassle of transactions to and fro. And not necessarily they know how to exchange Bitcoin for fiat money. They will find it difficult especially as a beginner in holding Bitcoin whose value is not fully understood.

Alternatively or preferably such payment can be made via a stable coin such as USDT whose value is more stable which I believe is better than Fiat because of involvement of the bank and tax deductions, unfortunately majority of the employees who are cryptos oriented prefers Bitcoin payment whose value is very volatile and unstable, personally I will prefer a USDT or BUSD as salary payment a drop in the price of Bitcoin immediately after payment of salary is a drawback likewise an increase in price is an advantage thus a win-win situation but it still very risky especially in a bearish season where price dumped rapidly or massively with a short period of time.

You are right, maybe for the US and surrounding areas, but for other countries they still need cash in the form of their respective country banknotes, it is still an option.

[gundala]

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actually both are the same, in salary with bitcoin we will still convert some into fiat to meet the needs that do have to use fiat, and if paid with fiat we will also convert some into bitcoin for investment.

the problem is in high volatility, let alone a day, prices can change quickly even in a matter of hours, so if we are late in converting then our salary may be lower than it should be. while the main salary is needed to meet daily needs.
so I prefer to be paid with fiat only, then allocate part of it for investment in crypto, it's more effective and safe I think. but this goes back to each individual's decision, your decision is also good, the important thing is to anticipate sudden price changes.

[Abiky]

You can't say Bitcoin is better than Fiat, with its volatility, it's either you'll win or lose with your day-to-day payments, one thing I also want to clear out is that you can never say that you'll be able to avoid taxes with BTC as payments, there is no middleman but it is possible for your salary to still get cuts depending on the price.

And, in my own opinion, I honestly think that Fiat is more practical, especially if you have a job that pays you a huge amount, fixed price, the tax maybe a downside but you are sure with the amount you'll get, meanwhile, with Bitcoin, the enemy is the volatility, it could be a friend or an enemy, you can get an advantage once the price is going up, but with the price going up, it also must go down, therefore, the amount of Bitcoin you'll get heavily depends on its price, this is the downside with Bitcoin, but a risk I think a lot of people are willing to take.

Both types of currencies have their own advantages/disadvantages. Employers will pay their workers in the type of currency that's more convenient to them. Fiat is and will always be the leading currency because it's stable and backed by the government. This gives it a greater level of legitimacy than Bitcoin itself. Besides, dealing with Bitcoin's volatility is not an easy task. Workers want something they can use anytime without worrying about losing their purchasing power in an instant. They must pay their bills and buy essential life stuff with a currency whose value is stable at all times.

While Bitcoin is great as a store of value, it's terrible as a currency for day-to-day payments. As long as Bitcoin is volatile, Fiat will continue to dominate the jobs market for years to come. Just my opinion

[oktana]

You can get paid in Bitcoin. It's cool. However, due to the volatility nature of Bitcoin, I will discourage you from receiving huge payments in Bitcoin. It'll be better if the payment we're smaller amount(So you're safer when the dark side of volatility hits). Yet, that is a bit of challenge since small transactions on the Bitcoin blockchain are kind of unnecessary(Paying much transaction fees while transfering small value). A bit of an irony to me.

[ene1980]

Maybe if living in El Salvador we will get salary in bitcoin because bitcoin adoption is legal there, my country has not legalized bitcoin so I have to convert some of my salary in bitcoin for long term investment.

Converting your salary to Bitcoin is one thing and getting your salary in Bitcoin is a bit risky aspect simply because of the high volatility of the market, last few days the price of Bitcoin was around $30k and i would have initiated a payment in Bitcoin because i knew we had a good support at that price range but now the price has hit the resistance of $40k i will not want my salary in Bitcoin at this price, i would rather invest according to my choice and that is the best thing you can do.

[mrongoz_imut]

You can get paid in Bitcoin. It's cool. However, due to the volatility nature of Bitcoin, I will discourage you from receiving huge payments in Bitcoin. It'll be better if the payment we're smaller amount(So you're safer when the dark side of volatility hits). Yet, that is a bit of challenge since small transactions on the Bitcoin blockchain are kind of unnecessary(Paying much transaction fees while transfering small value). A bit of an irony to me.

I totally agree with your opinion, friend, maybe if we receive our salary with bitcoin it can be said to be good, but the risk we receive may be large, but it would be nice for now it is better to accept payments in fiat currency, if we live in countries that have legalized bitcoin we can accept payments in bitcoin, but at this time I still live in a country that hates bitcoin, so I am forced to accept my salary in fiat currency...

[isaac_clarke22]

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Actually that would be fine. If I was working in a payroll system, I would actually just base the salary of each in ratio with the current BTC price in our local currency.
Working with API or the third party ones isn't that difficult of work actually. In that way, when BTC price changes, their weekly/monthly BTC salary would vary always but still equivalent to how much they should be paid. You never want to work where you earn below minimum wage for sure.

[Tumanggor]

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Which type of currency is better for paying employees? Is it Bitcoin or Fiat? Do you think we'll be able to see more jobs paying Bitcoin in the future? Or will Fiat still dominate the jobs industry? Is working for Bitcoin just like working "under the table"? Your input will be greatly appreciated. Thanks.

Payments with fiat will definitely dominate
but I as an employee prefer to be paid in Bitcoin, the volatile price makes me have the opportunity to make multiple profits

by the way, I don't know if there is a company nowadays that pays its employees with Bitcoin, if there is then the company is very visionary

[bryant.coleman]

I read the previous replies. Everyone want to concentrate on just one topic - volatility. You guys are ignoring the most important aspect, that is tax implication. Getting paid in Bitcoin is beneficial in countries where Bitcoin is treated as a currency (Germany, El Salvador.etc). On the other hand, in jurisdictions such as the United States, where it is treated as an investment asset, you will find a lot of issues when you file the tax return. So I would advice to accept Bitcoin as salary only in those countries where BTC is classified as a currency.  

[slaman29]

Look here guys we all need to have food to eat and pay our rent. So for me I would rather get paid in fiat first for all my needs and Bitcoin later for all my savings. Or almost all at least. But not everyone has an employer who has that choice to make.

I'm lucky I have a job and a small campaign on forum for a bit of BTC. Lucky because I actually have to sell that BTC every month a portion so I can be comfortable. It works out and I don't want it to change:)

Depends on the context though, what if stores and establishments that provide product and services are accepting bitcoin then probably you can choose the salary paid in bitcoin but if we are looking at it in a realistic perspective, I think that it's a no brainer to choose fiat as a salary rather than the alternative.

The context is that the majority of salary paying people don't pay in Bitcoin and the majority of the world's shops and sellers don't accept Bitcoin.

So I'd still rather get paid in fiat for those needs, but of course, great if you could make a choice to get part of salary in BTC but as I said, that's also not possible. That's not just the context, that's the reality:)

[BOAEDAN]

For now, I would still prefer to receive my salary mostly in fiat. But I would not mind some part in bitcoin.

it's true as you said comrade, for now it might be better for us to receive our salary in fiat currency, because if it is paid with fiat money, of course we can immediately spend the salary, to buy our needs, but if it is paid with bitcoin , of course we will experience risks that sometimes go up and down, and also problems in my country which does not accept bitcoin in any purchases,, if the price of bitcoin is high, we can exchange it with fiat,

[Marvell1]

For me paying with fiat is better than bitcoin.Currently,there are not many convenience stores, restaurants, hotels ... accept bitcoin or crypto.If I get paid in bitcoin , to use for daily living expenses it will bother me.Instead of fiat I can use whenever I want, bitcoin I have to find and choose places that only accept bitcoin payments.Not to mention, bitcoin volatility could cause my salary to drop if bitcoin price drops.Not to mention, the volatility of bitcoin could cost my salary in half in a day.

[Renampun]

Many people are getting paid in Bitcoin these days, as the cryptocurrency grows in popularity worldwide. A salary in Bitcoin is quite a lot different than Fiat. There's no middleman to go through, so the coins are deposited directly to your account without any ID verification whatsoever. Transactions take from minutes to hours in a completely anonymous manner (sort of). One might say it's easy to avoid taxes when getting paid in Bitcoin than getting paid in Fiat. After all, no one will know you own the coins unless you disclose it (or the government is able to link transactions to your identity). Yet, Bitcoin's highly unstable price makes it a terrible currency for day-to-day payments.

Which type of currency is better for paying employees? Is it Bitcoin or Fiat? Do you think we'll be able to see more jobs paying Bitcoin in the future? Or will Fiat still dominate the jobs industry? Is working for Bitcoin just like working "under the table"? Your input will be greatly appreciated. Thanks.

companies that pay with fiat are likely to continue to dominate imo...

maybe the percentage is 70:30. many companies are still dependent on banks and also do not fully know what Bitcoin is. If I had a company it would be very complicated to give my employees a salary with Bitcoin because surely they don't understand that and are afraid of the price volatility, I will definitely give an option whether to pay with fiat or btc

[Distinctin]

For me paying with fiat is better than bitcoin.Currently,there are not many convenience stores, restaurants, hotels ... accept bitcoin or crypto.If I get paid in bitcoin , to use for daily living expenses it will bother me.Instead of fiat I can use whenever I want, bitcoin I have to find and choose places that only accept bitcoin payments.Not to mention, bitcoin volatility could cause my salary to drop if bitcoin price drops.Not to mention, the volatility of bitcoin could cost my salary in half in a day.

If only i am living in El Salvador, then i would love to accept bitcoin rather than fiat. Bitcoin there has become a legal tender so there's no problem with that. But considering my country which only few merchants are into bitcoin, then i don't think getting paid in bitcoin is a good idea.

However, if the government will start to adopt bitcoin as another option for fiat, then having bitcoin will be a great advantage. It will not only serve as an investment tool but definitely a good currency in the making. So let's look forward for it in the near future.