Giving Bitcoin to Employees

[retreat]

are there any major companies in the real world that have tried paying employee salaries with Bitcoin? if there is then that company's employees are very lucky. maybe in el salvador there are already many companies that adopt bitcoin as a salary payment but almost never get exposure to the media.

bitcoin is truly a magical real thing, someone is free to use the bitcoins he/she owns (whether to make it a currency or an investment asset) bitcoin is a solution for employees to live comfortably in retirement in the future.

[JooBra]

Bitcoin is becoming more and more popular, but that doesn't mean everyone is savvy enough to use bitcoin, sometimes they are not ready to accept something new like your boss, not to mention where you are working and living bitcoin is legal or not?. The value of bitcoin does not always grow, in the short and medium term bitcoin price is still falling. This has many people concerned about how the price of bitcoin will affect their daily lives and businesses.

If we talk about legality of Bitcoin then there are not many countries where Bitcoin is legalized. Apart from crypto community not many are crazy for Bitcoin specially receiving there pay cheques in the form of bitcoin. Since we need fiat for daily living and nobody wanna salary that is 5000$ in the morning and 4600$ in the evening (though it can go up also).
I invest in bitcoin but only my savings, all my daily matters are done with fiat as all rest do.

Yeah I agree with you. Working for a month and then getting payed and seeing losing money in couple of hours is bad. I think people should invest alone if they want and how much they want.

[LUCKMCFLY]

This is something that brings a lot of progress, honestly it is not only a way to encourage everyone to learn about BTC but it makes employees open their minds to a new economic technology, it is also necessary that when they accept the salary in BTC that it is very volatile, that from one moment to another its value can go down, as well as go up and generate much more profitability, that it depends on each one of them if they want to have it in Hodl mode or not.

[Quidat]

This is something that brings a lot of progress, honestly it is not only a way to encourage everyone to learn about BTC but it makes employees open their minds to a new economic technology, it is also necessary that when they accept the salary in BTC that it is very volatile, that from one moment to another its value can go down, as well as go up and generate much more profitability, that it depends on each one of them if they want to have it in Hodl mode or not.

Whenever you've decided for your workers to receive btc payment then as an owner then you should need to explain just the basics would be enough because
we know that bitcoin isnt already known for everybody on which lots still have no idea on what it is and if you do directly integrate it out then they would surely
be avoiding and dealing with it because they dont really love the volatility that do involves on which it isnt really that a surprising thing kind of reaction.

[LastKiss]

This is something that brings a lot of progress, honestly it is not only a way to encourage everyone to learn about BTC but it makes employees open their minds to a new economic technology, it is also necessary that when they accept the salary in BTC that it is very volatile, that from one moment to another its value can go down, as well as go up and generate much more profitability, that it depends on each one of them if they want to have it in Hodl mode or not.

Whenever you've decided for your workers to receive btc payment then as an owner then you should need to explain just the basics would be enough because
we know that bitcoin isnt already known for everybody on which lots still have no idea on what it is and if you do directly integrate it out then they would surely
be avoiding and dealing with it because they dont really love the volatility that do involves on which it isnt really that a surprising thing kind of reaction.

Well rather than make Bitcoin as worker payment we can make Bitcoin as a gift from the performance that they give to the company, I'm pretty sure there are many people who will refuse Bitcoin as their payment because of many reasons such as its volatility. But when it comes to a gift/reward a big chance they will accept it because right now Bitcoin is like digital gold.

[lienfaye]

This is something that brings a lot of progress, honestly it is not only a way to encourage everyone to learn about BTC but it makes employees open their minds to a new economic technology, it is also necessary that when they accept the salary in BTC that it is very volatile, that from one moment to another its value can go down, as well as go up and generate much more profitability, that it depends on each one of them if they want to have it in Hodl mode or not.

Indeed. Its an opportunity to grow your money by investing in Bitcoin. We know employees are not getting much and usually has a fixed salary. By engaging to Bitcoin, they have something to count on in the future specially Bitcoin is best to hold for long term. Though there's no assurance that you will be a gainer, but atleast there's a chance. Its a good thing that op will retain the fiat paychecks, this way employees can decide for themselves on what they prefer and if they are really determine to hold Bitcoin.

[redsun114]

Sorry, the update you made on your post – were you trying to say that BTC is illegal or legal?
Anyways, I don’t think there is any much difficulties in paying your employees with Bitcoin, all you’re going to need is to introduce them to whatever cryptocurrency wallet you fit best, example: Trust Wallet.

After they might have set up their wallet, they will have to give you their wallet addresses  and you can use a spreadsheet to keep record of their addresses and at the end of the month you can send BTC to them using the addresses that they have provided. I have worked with a company that paid its employees with BTC and that was how they did it; the asked for workers Bitcoin addresses, and at the end of the month we would all have the BTC sent to our wallets.

[JunkieMiner]

May be in a sense, it is possible but I think it will also depend upon your each employ if they wanted to do it as their own choice or they wanted to prefer another way as someone may be not linking bitcoin in a way you are discussing here and many more like that, so it is everyone's own choice that what he wants and at which amount he is happy enough. It will be good to invest in such a way that they bounce back their money and get more.

[jaberwock]

This is something that brings a lot of progress, honestly it is not only a way to encourage everyone to learn about BTC but it makes employees open their minds to a new economic technology, it is also necessary that when they accept the salary in BTC that it is very volatile, that from one moment to another its value can go down, as well as go up and generate much more profitability, that it depends on each one of them if they want to have it in Hodl mode or not.

That’s right, and it’s also going to benefit the workers on a long term. If the workers should decide to be storing the Bitcoins that are being sent to them for future purpose, such as a pension, then it’s really going to help them a lot, because in the next five to ten years, the Bitcoins would be worth a lot more than what it is worth today, and then can decide to use for whatever they want. If it happens that they have retired by then, they can use the money to start up whatever it is that they would like to start in the future, it’s really going to help them.

[Mahanton]

This is something that brings a lot of progress, honestly it is not only a way to encourage everyone to learn about BTC but it makes employees open their minds to a new economic technology, it is also necessary that when they accept the salary in BTC that it is very volatile, that from one moment to another its value can go down, as well as go up and generate much more profitability, that it depends on each one of them if they want to have it in Hodl mode or not.

That’s right, and it’s also going to benefit the workers on a long term. If the workers should decide to be storing the Bitcoins that are being sent to them for future purpose, such as a pension, then it’s really going to help them a lot, because in the next five to ten years, the Bitcoins would be worth a lot more than what it is worth today, and then can decide to use for whatever they want. If it happens that they have retired by then, they can use the money to start up whatever it is that they would like to start in the future, it’s really going to help them.

Depends on how they've been educated about bitcoin or their awareness of it because they wont be tending on accepting as bitcoin as their salary if they arent aware on what it is.
So as an owner of the company then he should really at least give out some basic information on whats bitcoin and make it as an option for their salary.
If they do then they do really have that kind of opportunity on earning more in the future when the value would risen up.

[Hypnosis00]

This is something that brings a lot of progress, honestly it is not only a way to encourage everyone to learn about BTC but it makes employees open their minds to a new economic technology, it is also necessary that when they accept the salary in BTC that it is very volatile, that from one moment to another its value can go down, as well as go up and generate much more profitability, that it depends on each one of them if they want to have it in Hodl mode or not.

That’s right, and it’s also going to benefit the workers on a long term. If the workers should decide to be storing the Bitcoins that are being sent to them for future purpose, such as a pension, then it’s really going to help them a lot, because in the next five to ten years, the Bitcoins would be worth a lot more than what it is worth today, and then can decide to use for whatever they want. If it happens that they have retired by then, they can use the money to start up whatever it is that they would like to start in the future, it’s really going to help them.

Depends on how they've been educated about bitcoin or their awareness of it because they wont be tending on accepting as bitcoin as their salary if they arent aware on what it is.
So as an owner of the company then he should really at least give out some basic information on whats bitcoin and make it as an option for their salary.
If they do then they do really have that kind of opportunity on earning more in the future when the value would risen up.

I think it was optional either they wanted to get paid with Bitcoin (those who are aware of it) or fiat for those who are not. But this seems not in a comfortable way knowing the value of Bitcoin will sometimes drop making them lose a few bucks. We can understand that situation as we are in this crypto world for many years but for those who are new, that gonna be in question and probably they will choose fiat over Bitcoin.

[awik p]

Before you decide to pay your employees in bitcoin, you should know if bitcoin is legal or illegal in your country. If it is legal, you should ask your employees whether they want to accept their payment in bitcoin or still in fiat or you can divide their payment into two forms, in bitcoin and fiat. If they don't want to accept their payment in bitcoin instead in fiat, you can't force them and still give them payment in fiat. It will depend on how your employees know about bitcoin, but perhaps, most of them still don't know about bitcoin.

for a country that has not ratified bitcoin like mine, I think it has a big risk if we want to pay employees using bitcoin, of course this will deal with the law and actually hinder the development of our company. therefore it is fitting for us to live in a country and obey the regulations in that country, including the use of bitcoin, which is practically a money-making tool for now

[shawon01]

What I like here is that giving Bitcoin to employees is great, just so it requires education and if the company's goal is to provide them with long term savings then I think it would be better for the company to use hardware and open the workers' ordinance in the stingy world.  They don't give up when they read Bitcoin and there are many more coins they can get acquainted with. It's okay if I'm not married and it's owned by a company

[Luqman]

Anyone doing this now?

No for me if this is in the real life. Because I am aware enough that crypto is not legal for payment in my country I cannot use it. Expect that we are going to hide the transaction and we agree with one another, maybe we can do it.
But exactly, this may be risky enough.
On the other hand, I actually always appreciate what people are doing by utilizing BItcoin so far. So, it can add more status and value to Bitcoin itself. This is one of them that you can consider about using Bitcoin for certain utility, including paying salary for the employee.
Have you realized that your employees also understand about the BTC?

[beerlover]

I basically did this at one point. We were creating a project, and we needed people for a few things, since we were a small project and paid very little, it was just some college kids that we needed to work with for small stuff. Like telegram community management, all they had to do was be online when we were asleep and delete all the spam, that's it, they didn't even need to respond with anything specific, just say that we would be online later on and that would be fine.

Secondly twitter check, like see what people wrote as response while we were asleep, and respond accordingly, like "contact us at @here for further support" type of stuff. Basically just be online when we are offline, that's it. We paid crypto for it as well, and it worked out fine.

[LUCKMCFLY]

I basically did this at one point. We were creating a project, and we needed people for a few things, since we were a small project and paid very little, it was just some college kids that we needed to work with for small stuff. Like telegram community management, all they had to do was be online when we were asleep and delete all the spam, that's it, they didn't even need to respond with anything specific, just say that we would be online later on and that would be fine.

Secondly twitter check, like see what people wrote as response while we were asleep, and respond accordingly, like "contact us at @here for further support" type of stuff. Basically just be online when we are offline, that's it. We paid crypto for it as well, and it worked out fine.

That is a great strategy, because many people can always be online and more because of the working conditions that are actually very simple, I have been in other projects where I have had to be the admin of a telegram channel, but I have had to I studied the whitepaper well to answer all the questions and even so there were questions that I didn't even know reading the whitepaper, there I had to look for help, and they didn't even pay in BTC, so if all jobs paid in BTC it would be something different, because there would be more motivation, more knowing that the btc can take a bullish turn at any moment and that the money increases, when talking about payments in BTC in a job it attracts much more attention, that is, it makes it more attractive.

[wozzek23]

I believe that what you wanted to say was that cryptocurrency is illegal in your country.
In case cryptocurrencies are illegal in your country you can still continue to make use of it and even be sending it to your employees.

Although you would have to be very careful and make sure it wouldn’t be an information that would leak out there or get to the authority because that will then result to a problem for you and your company.

Or maybe it is best that you just stay out of making such a decision and just continue to pay your employees with Fiat. The decision that you made is a good one but if making such a decision would be to the detriment of your biz, then it is best that you just forget about it.