Finally got my boss to pay me in Bitcoin

[WhatDoIKnow]

...

Congratulations on successfully negotiating to receive payment in Bitcoin! Receiving payment in Bitcoin can be a convenient and secure way to receive compensation for your work, as it allows for fast and cheap transactions without the need for intermediaries.

However, it's important to keep in mind that Bitcoin and other cryptocurrencies can be highly volatile and their value can fluctuate significantly over time. This means that the value of your payment in Bitcoin may be different from the value of an equivalent amount in your local currency. It's a good idea to familiarize yourself with the risks and potential challenges of using Bitcoin as a means of payment, and to consider how you will manage those risks in order to ensure the security and stability of your financial situation.

It's also worth noting that there may be tax implications to receiving payment in Bitcoin, depending on your jurisdiction. You may want to consult with a tax professional or research the tax laws in your area to understand your obligations and ensure that you are properly reporting and paying any applicable taxes on your Bitcoin income.

[Sanitough]

Hello everyone I am very excited today as finally my boss has agreed to pay in Bitcoin. After losing at my first attempt in Cryptocurrency as I thought that wealth falls like rain here I was brought back to reality with losses I got a little job on the side although a small amount paying job I think it is okay for me and I can get back on my feet.

Ever since I started working I have always been talking to my boss and coworkers about Cryptocurrency and after persisting they started to give me listening ears, I made sure to also tell them my experience and made sure they got my picture.

Along the line my boss got very much interested in cryptocurrency especially in Bitcoin. Assisted him in creating his Bitcoin wallet and taught him all I could, it surprised me when he finally accepted to pay me in Bitcoin and has giving it as an option to other workers, it's a big joy for me and I believe they are also talking about cryptocurrency to their friends and family too, just got my first payment in Bitcoin this evening.

I’m happy for you, good job. But my worry is if you are receiving bitcoin, can you keep it for the next 3-5 years and expect a higher value? Or you’re just going to convert some of it to cater for your own expenses? But whatever your plan is, I’m glad because you have made a promotion for bitcoin adoption. I just hope that you will be more responsible in keeping your bitcoin safe and sound.

[Finestream]

I hope you also tell your Boss about the risks of Bitcoin assets that he uses to pay you and some of your fellow workers.
it might be fun to work with your boss. he has good communication with his employees. or you may be good at persuading people.
if your company is a provider of services or goods. maybe your Boss can also consider accepting payments using Bitcoin.

That should be the first thing to do, making your boss aware of bitcoin risks and volatility. But knowing his boss has agreed after a lot of attempts by OP, I guess he has already made a research about bitcoin and found out that there are more potentials to gain than it’s risks alone. And also if he is paying in bitcoin as a salary, this will also make way for bitcoin to be accepted too as a means for payment if ever.

[Russlenat]

Hello everyone I am very excited today as finally my boss has agreed to pay in Bitcoin. After losing at my first attempt in Cryptocurrency as I thought that wealth falls like rain here I was brought back to reality with losses I got a little job on the side although a small amount paying job I think it is okay for me and I can get back on my feet.

Ever since I started working I have always been talking to my boss and coworkers about Cryptocurrency and after persisting they started to give me listening ears, I made sure to also tell them my experience and made sure they got my picture.

Along the line my boss got very much interested in cryptocurrency especially in Bitcoin. Assisted him in creating his Bitcoin wallet and taught him all I could, it surprised me when he finally accepted to pay me in Bitcoin and has giving it as an option to other workers, it's a big joy for me and I believe they are also talking about cryptocurrency to their friends and family too, just got my first payment in Bitcoin this evening.

Great job. This is just another achievement for bitcoin to be considered as a means of payment rather than an investment alone. And making your boss and your co-workers aware about bitcoin is already a good contribution for bitcoin promotion. I just hope everything will not end here, as your boss will also find ways to let other business owners be aware about bitcoin as a payment system. As long as they understand the risks it brings,  then later on a lot of people will surely benefit from bitcoin.

[Ryu_Ar1]

Wait. if seeing your threads indirectly means your boss is new in bitcoin right?
Is it true that in this case it is a bit of a push because indeed you even made your boss's account yourself. then how can he decide this directly, especially since he still needs help making a wallet, not to mention how to transact (sending and receiving) and the risks when he's here.

[Sandra_hakeem]

What ever would make anyone interested in Bitcoin should be the same thing/ interest to create an essence of confidence and ardentness; if you motivate anyone or make them -- by any chance -- to realize the essence of Bitcoin, then you should do well to let 'em know the intricacies, FAQS and T/C's.
How did you go about the completion of the Trnx when you both are some inexperienced rookies, just tryna get confused by getting something undone?? Or have you had a knowledge proir the whole scenario?  .. how ever it is, just remember that HODLing BTC is a different ball game entirely.

Sandra 🧑‍🦰

[mrtrach]

Curious just how you managed to pull that off? Seems like an accounting challenge, particularly given the lack of regulatory clarity in the US.

[8rch7]

Seems lucky with your boss excited with cryptocurrency or Bitcoin and want to pay all their working trough Bitcoin as salary payment, I think you can spent half Bitcoin for long term investment beside you can use anther half your your daily needed. Not easy finding Boss want to pay us with Bitcoin, however need regulation early with your company working for accepting Bitcoin.

Your boss with get advantage when using Bitcoin as investment fund at future, actually waiting at the beginning month for paying their working salary and beside your boss tries how to be long term investor in Bitcoin.

[m2017]

This is a great story with a happy ending if you can get your boss interested and get you paid in bitcoin. You always have to try to get what you want. Let your experience inspire others to follow your example.

Congratulations on your first bitcoin salary. The more people who try to replicate your little success, the more likely to change the world with bitcoin.

[tvplus006]

In fact, I don't see any difference for myself in which way the work will be paid, if it can easily be converted into fiat without significant loss of funds for commission services. So there are no problems for those who want to spend part of their salary to buy bitcoins.

[uchegod-21]

In fact, I don't see any difference for myself in which way the work will be paid, if it can easily be converted into fiat without significant loss of funds for commission services. So there are no problems for those who want to spend part of their salary to buy bitcoins.

I don't think it is necessary or a must to be paid with bitcoin. There are so many other requests you could tender to your boss apart from saying he should pay you in bitcoin.
You said you created account for your boss, do you mean an account in exchanges? If yes you thought him the wrong way.
Tbh, I don't see a boss who values his time that will go through a rigorous process to pay you when there is an option of fiat.

[NeuroticFish]

In fact, I don't see any difference for myself in which way the work will be paid, if it can easily be converted into fiat without significant loss of funds for commission services. So there are no problems for those who want to spend part of their salary to buy bitcoins.

Well, this way there's no exchanges/3rd party to interfere the process, which is great because:
* one may simply not like (or fear of) exchanges and P2P
* less hands means more safety and less fees; if the money has came, you see it in the wallet, if it didn't, you ask the employer

While for main income I'd prefer fiat (because I don't have much other means to spend than fiat), for side jobs I prefer bitcoin since (most of) it has a good chance to remain bitcoin for long.
Even more, I can tell from own experience that if it wouldn't have been the means of earning Bitcoin, I would most probably have much smaller amount on my Ledger.
So it's a good step for OP.

[Welsh]

In fact, I don't see any difference for myself in which way the work will be paid, if it can easily be converted into fiat without significant loss of funds for commission services. So there are no problems for those who want to spend part of their salary to buy bitcoins.

Most people need to pay their bills in fiat anyhow. So, they'd need to transfer some of it back or request to only get partially paid in Bitcoin. Personally, I actually prefer to get paid in fiat, pay my bills, and then look at the possibility of investing in Bitcoin further. However, most of my Bitcoin is generated by earning it directly, outside of my main job. So, I don't really rely on it as a monthly wage.

I guess my point is; either way you'll likely be paying an exchange fee, and getting hit by transaction fees either way. Unless, you're in the extremely unlikely situation of being able to solely exist on Bitcoin, i.e pay for bills, groceries etc with Bitcoin.

[letteredhub]

I can imagine that feeling when your boss end up agreeing to your initiative, please don't fail to bring to the notice of your boss that crypto has its own ugly side too, just to balance the scale so you don't end up getting blamed for any mistakes done in the future.

[Smartvirus]

Taking all your salary in bitcoin is something but, it would be better should you not leave all of them in bitcoin. Perhaps some quick exchange of a portion of that go its fiat equivalent would mitigate for some regrets if it does come to that. The idea has always been, been invest only what you can afford to lose and clearly, your entire salary isn't that.

Assisted him in creating his account

There are no accounts in Bitcoin.

Do you really want your boss to be able to follow your money after he pays you?

A possible likely scenario for a boss that have got time or people with time to do this on a purpose I don't know why should be but won't like. Its definitely a disadvantage to cryptocurrency but not so much an advantage when the government comes looking at some fiat local bank account.

[tvplus006]

When paying for work in bitcoins, it is very important to understand whether the payment in bitcoins is fixed or whether it will be different each time depending on the exchange rate of the national currency. If it is a fixed salary, then the OP will receive a double bonus in the bull market, but at the same time his boss will have to pay more generously than others.

[Frankolala]

This is good news for you to teach and convince your boss to adopt bitcoin as a method of payment to his staffs in his company. I will suggest that you should tell him the volatile nature of bitcoin so that he don't get disappointed and feel you came to deceive him when there is a dip in price.

You should also teach your boss how he can keep his coin save by getting a hardware wallet and not to keep his investment in an exchange if not if he gets scammed he can get you arrested because you were the one that convinced him into bitcoin investment and payment method.
Nice one OP,you have done well.

[YOSHIE]

Ever since I started working I have always been talking to my boss and coworkers about Cryptocurrency and after persisting they started to give me listening ears, I made sure to also tell them my experience and made sure they got my picture.

I have a friend who works for one of the leading companies, you could say my friend's boss is also a crypto investor, he really understands how crypto works, there is an idea like you proposed, unfortunately my friend told me, the idea of ​​paying employee salaries with Bitcoins don'tagreed by friend's boss.

Reason:
• Bitcoin is suitable as a digital asset operating as investment & trade.
• Bitcoin fee for 1000 employees with different salary, bigger fee.
• Paying employee salaries with fiat does not incur additional nominal fees.

That's the basis for my friend's boss not wanting to pay employee salaries with bitcoin, but who knows in the future my friend's boss will change his mind and he can follow in your boss' footsteps.

[isaac_clarke22]

~

This kinda reminds me of the good old news where the boss of the company demanded his employee to refund or give back the salary he gave after the market went bullish. I cannot quite pinpoint what country was it and how much Bitcoin was paid to the employee though.
When it comes to those, the company should have a system to automatically determine how much Bitcoin would be given to their employee at the pay date, otherwise it might cost the company one day.
Edit:
It was this news, lol. - Boss pays employee in cryptocurrency but wants it returned after its value rose by 700%
It was not mentioned that Bitcoin was used as payment, so my apologies for that.

[Franctoshi]

This will involve a bit process for your Boss other than just receiving your salary directly in your local fiat currency. Because at some point your Boss might get discouraged and stop paying you in BTC, as regards to how much he spent on top of your salary in transaction fees or sometime sees that his Bitcoin is reducing in terms of dollar value.

 Therefore you need tell your boss things he could face while holding and paying you salary in Bitcoin.