I recently convinced my employer to start paying me in BTC, it has been great

[flyingcarpet]

I live in an underdeveloped country, but I work remotely for a fairly good web development agency. We don't have a lot of financial services/wallets here, so we had to go circumvent a lot of obstacles for me the money to get to my local bank account. This whole process took a hefty fee, and time. And the worst part is the currency is absolutely shit and deteriorating (even compared to other fiat currencies),

Recently, I convinced them to start paying me in BTC. I save what I have to save, and convert the rest to fiat via P2P trading. Its so quicker and I get great deals, no more bullshit. I think this has been a great benefit of crypto for underdeveloped nations.

I have been accumulating bitcoin from a long time from my freelance work, but getting paid in it by my regular work feels awesome!

Here is an example of using the advantages of Bitcoin. You don't have to deal with unnecessary things and you can receive your earnings via Bitcoin. You can also convert your Bitcoins into fiat money whenever you need. You and your employer made a great deal.

This is how Bitcoin can benefit people in many parts of the world. All we need is the internet. It must be a good feeling to earn and save the income you earn from your regular job in Bitcoin. Good luck.

[GxSTxV]

Well I thought that P2P feature is used to convert from Bitcoin or cryptocurrencies to your local bank for a reason, the countries where bitcoin or crypto currencies are prohibited and can’t be used in stores or elsewhere. What you did is turning around in one point you know. I don’t say it’s a bad idea but if you want to save some bitcoin you could just get paid to your local bank, and do a P2P transaction to buy the amount you want to save instead of asking your employer to pay you in bitcoin than exchanging it once again to local currency.
Anyways, I recommend that you save your bitcoin in a private wallet, hardware or safe open source wallet that preferably isolated from internet and a device that you only use for the wallet. You can’t know how easily your funds can get stolen especially if it’s a big amount. Don’t depend on exchanger for saving your coins.

[sokani]

I live in an underdeveloped country, but I work remotely for a fairly good web development agency. We don't have a lot of financial services/wallets here, so we had to go circumvent a lot of obstacles for me the money to get to my local bank account. This whole process took a hefty fee, and time. And the worst part is the currency is absolutely shit and deteriorating (even compared to other fiat currencies),

Recently, I convinced them to start paying me in BTC. I save what I have to save, and convert the rest to fiat via P2P trading. Its so quicker and I get great deals, no more bullshit. I think this has been a great benefit of crypto for underdeveloped nations.

I have been accumulating bitcoin from a long time from my freelance work, but getting paid in it by my regular work feels awesome!

I like seeing testimonies such as this and I would like to congratulate on receiving your first payment in bitcoin. Imagine the rigorous procedures you had to go through each time you want to receive payment from your client. You can see for yourself how ineffective fiat and such payment gateway is. It takes time for recipients to receive their money and it also attracts outrageous transaction charges such as deposit fee, processing fee and withdrawal fee. On the other hand, Bitcoin offers a way out, it eliminates the need for a third party, it makes transaction faster and better.

[2Pizza410000BTC]

I live in an underdeveloped country, but I work remotely for a fairly good web development agency. We don't have a lot of financial services/wallets here, so we had to go circumvent a lot of obstacles for me the money to get to my local bank account. This whole process took a hefty fee, and time. And the worst part is the currency is absolutely shit and deteriorating (even compared to other fiat currencies),

Recently, I convinced them to start paying me in BTC. I save what I have to save, and convert the rest to fiat via P2P trading. Its so quicker and I get great deals, no more bullshit. I think this has been a great benefit of crypto for underdeveloped nations.

I have been accumulating bitcoin from a long time from my freelance work, but getting paid in it by my regular work feels awesome!

OP you made a great decision. This is because it will be much more convenient for you to pay in Bitcoin than to pay in your local currency. Because if you have Bitcoin in your wallet you can keep it as an investment but you can spend your money at any time whenever you receive your payment in local currency in your bank account. And if you keep all your money in bitcoins, you must be careful about selling bitcoins and spending them unaccounted for. Apart from that you can easily convert from bitcoin to local currency anytime via p2p so your decision is very good. Best wishes to you as you move forward.

[Josefjix]

OP you made a great decision. This is because it will be much more convenient for you to pay in Bitcoin than to pay in your local currency. Because if you have Bitcoin in your wallet you can keep it as an investment but you can spend your money at any time whenever you receive your payment in local currency in your bank account. And if you keep all your money in bitcoins, you must be careful about selling bitcoins and spending them unaccounted for. Apart from that you can easily convert from bitcoin to local currency anytime via p2p so your decision is very good. Best wishes to you as you move forward.

Everyone thinks of what's good and bad, we tend to make the best decisions for ourselves concerning crypto space. I'm ot taking part in this because bitcoin can turned around and dissapoint us by having a heavy dump in the bearish season, absolutely no room to call for alarm, other than applying pressure and been on the safer side. Receiving payment in bitcoin is cool and good. Simply a bold step taken but the problem is volatility of the project. It also have disadvantages prior to advantages, we know how volatile bitcoin can moved in this bear season, though it's quite understandable to some individuals not all.

[Asuspawer09]

I live in an underdeveloped country, but I work remotely for a fairly good web development agency. We don't have a lot of financial services/wallets here, so we had to go circumvent a lot of obstacles for me the money to get to my local bank account. This whole process took a hefty fee, and time. And the worst part is the currency is absolutely shit and deteriorating (even compared to other fiat currencies),

Recently, I convinced them to start paying me in BTC. I save what I have to save, and convert the rest to fiat via P2P trading. Its so quicker and I get great deals, no more bullshit. I think this has been a great benefit of crypto for underdeveloped nations.

I have been accumulating bitcoin from a long time from my freelance work, but getting paid in it by my regular work feels awesome!

If your employer was good with it then I think it's a good thing but isn't you paying fees on your Bitcoin transactions? I mean bitcoin transactions were kinda cheap at the moment to the honest it's like cents or something so I guess it's a great and convenient thing anyway but there are times when the mempool gets congested making the fees skyrocket For sure that could be a problem in the case with your employer since he's the one paying you Bitcoin, but I guess as long as your employer was good with it it's a good thing in my opinion. I mean it still wasn't perfect since you still gonna need to use your local bank because you need to convert that Bitcoin to fiat money unless you know someone that is willing to buy your Bitcoin personally.

Just avoid using centralized platforms or probably avoid storing large amounts of your cryptocurrency there if you really planning to invest especially for long-term investment just send it to a noncustodial wallet like Electrum. If it really works they might just use it for all of there employees so I think that's a great adaptation that could easily promote Bitcoin as well.

[icalical]

Bitcoin is always my first choice to receive payment from my freelancing work, while most of the person or agencies what I work with could pay in few of them aren't and they use paypal. Compared to PayPal, the time from which they pay up to I received it in my local currency, Bitcoin is a lot faster since the transfer doesn't wait for working hours, it's 24/7, and the fee is much cheaper. More of that compared to a couple years ago, more people and agencies can pay in Bitcoin now.

[uneng]

I live in an underdeveloped country, but I work remotely for a fairly good web development agency. We don't have a lot of financial services/wallets here, so we had to go circumvent a lot of obstacles for me the money to get to my local bank account. This whole process took a hefty fee, and time. And the worst part is the currency is absolutely shit and deteriorating (even compared to other fiat currencies),

Recently, I convinced them to start paying me in BTC. I save what I have to save, and convert the rest to fiat via P2P trading. Its so quicker and I get great deals, no more bullshit. I think this has been a great benefit of crypto for underdeveloped nations.

I have been accumulating bitcoin from a long time from my freelance work, but getting paid in it by my regular work feels awesome!

If your employer was good with it then I think it's a good thing but isn't you paying fees on your Bitcoin transactions? I mean bitcoin transactions were kinda cheap at the moment to the honest it's like cents or something so I guess it's a great and convenient thing anyway but there are times when the mempool gets congested making the fees skyrocket For sure that could be a problem in the case with your employer since he's the one paying you Bitcoin, but I guess as long as your employer was good with it it's a good thing in my opinion. I mean it still wasn't perfect since you still gonna need to use your local bank because you need to convert that Bitcoin to fiat money unless you know someone that is willing to buy your Bitcoin personally.

Just avoid using centralized platforms or probably avoid storing large amounts of your cryptocurrency there if you really planning to invest especially for long-term investment just send it to a noncustodial wallet like Electrum. If it really works they might just use it for all of there employees so I think that's a great adaptation that could easily promote Bitcoin as well.

Well, there are always extra fees involved when exchanging BTC into fiat and transferring it to a bank account. However, depending the country, BTC fees can be cheaper than an international fiat transaction between bank accounts. That was one of the reasons why Bitcoin was adopted as legal tender by El Salvador.

Anyway, transactions fees aren't the biggest issue. The main problem is to find another person to sell BTC directly for the current market price. Most commonly we still have to sell our coins to platforms which buy only below price market, devaluing our money.

If BTC is quotated in R$131,000 (local currency), the platform is going to pay R$127,000-R$128,000 for that only.

[SmartGold01]

I know the joy in you that you have gotten paid with btc and if I am not mistakenly I have came across some topic that says similar things, that means before creating a topic or thread you should always look out for a possible thread to know whether such or similar has been raised before to avoid repetition of topics. Accumulation always comes with reserved funds or something like spare cash may be cushion that could served you till your next pay day/week or month per say to be able to achieved your accumulation process or getting to your desired period of accumulation targets. There are many people who engaged themselves into this but due to lack of steady inflows of cash or since its a single stream of income it then endangered the only source stirring up stress whereby if the only sources seized or stopped you could be tempted to start dipping your hands into the previously saved funds which you have already destroyed all your efforts to hold btc for either short or long period of time.

[The Sceptical Chymist]

I've got mixed feelings on this one, OP.  On the one hand I'm happy you're happy and that bitcoin is being used as a substitute for fiat, which I love to see.  On the other hand, getting paid in any type of crypto aside from a stablecoin exposes you to enormous volatility risk, and you seem more than smart enough to know exactly what I'm talking about.  Are you getting paid a certain amount of BTC per week/job or is your pay tied to your local fiat or some other fiat's value?

I had this thread open and then fell asleep, and I just skimmed through it to see if you'd addressed that but couldn't find anything.  There have been threads dealing with the question of accepting wages in bitcoin, but you might be the first person I've seen who's actually done it.

You have good reason for not saying where you live, and that's a good call on your part--but damn, I really want to know because I'm curious based on the description of the situation your homeland is in.  All my best, man!

[panganib999]

As long as it's also not going to be a pain in the ass for your company to do so, which I don't think it is considering that they obliged to your request I'm pretty sure it's all good to go. Also a great start at saving bitcoin for the coming bull run since now you don't need to go through all that mumbo jumbo of processing and transferring/converting into different cryptos and fiats until you get bitcoins. It's all in one go and you literally save time and money in the process so it's all beneficial with little to no drawbacks. Keep it up and I hope your whole company actively offers that to your current employees as well, pretty sure that a lot of these colleagues of yours got bitcoin investments as well that they're trying to grow but they don't know they could actually ask to be paid in bitcoin so they didn't bother.

[Blitzboy]

First, good job on being proactive about payment. Getting BTC pay? This is novel, especially for individuals in locations where traditional banking is difficult.

After being in Bitcoin for a long, I love hearing stories like yours, however theres a small issue. Bitcoin volatility - ever considered it? You see, its amazing now, but BTC might plummet. Its your call, and you may know better than most of us.

Remember: While getting paid in Bitcoin and eliminating banking costs is great, always watch the market. Stay smart, informed, and fantastic with your web dev gig.

[wd1]

I've got mixed feelings on this one, OP.  On the one hand I'm happy you're happy and that bitcoin is being used as a substitute for fiat, which I love to see.  On the other hand, getting paid in any type of crypto aside from a stablecoin exposes you to enormous volatility risk, and you seem more than smart enough to know exactly what I'm talking about.  Are you getting paid a certain amount of BTC per week/job or is your pay tied to your local fiat or some other fiat's value?

I had this thread open and then fell asleep, and I just skimmed through it to see if you'd addressed that but couldn't find anything.  There have been threads dealing with the question of accepting wages in bitcoin, but you might be the first person I've seen who's actually done it.

You have good reason for not saying where you live, and that's a good call on your part--but damn, I really want to know because I'm curious based on the description of the situation your homeland is in.  All my best, man!

My Salary is in GBP, so they convert it into BTC every time, buy that amount and send it to me. Does that address your concerns?

Thanks for the good wishes.

[SquirrelJulietGarden]

My Salary is in GBP, so they convert it into BTC every time, buy that amount and send it to me. Does that address your concerns?

I don't know what you shared is true or untrue.

My thinking is your company must have part of their financial treasury in Bitcoin. They have to buy Bitcoin and store it in their treasury or they accept Bitcoin as part of their business and use payments they received in Bitcoin then assign it as their budget for salary distribution to staffs including you.

Because if they have to buy Bitcoin at time of monthly salary distribution, it looks odds with me.

[bakasabo]

I've got mixed feelings on this one, OP.  On the one hand I'm happy you're happy and that bitcoin is being used as a substitute for fiat, which I love to see.  On the other hand, getting paid in any type of crypto aside from a stablecoin exposes you to enormous volatility risk, and you seem more than smart enough to know exactly what I'm talking about.  Are you getting paid a certain amount of BTC per week/job or is your pay tied to your local fiat or some other fiat's value?

I had this thread open and then fell asleep, and I just skimmed through it to see if you'd addressed that but couldn't find anything.  There have been threads dealing with the question of accepting wages in bitcoin, but you might be the first person I've seen who's actually done it.

You have good reason for not saying where you live, and that's a good call on your part--but damn, I really want to know because I'm curious based on the description of the situation your homeland is in.  All my best, man!

My Salary is in GBP, so they convert it into BTC every time, buy that amount and send it to me. Does that address your concerns?

Thanks for the good wishes.

But that does not solve volatility problem. I suppose right now you have saved some money previously and due that you dont feel exchange rate change when you pay. Just curious what you gonna do it tomorrow Bitcoin price drops to $20k and you will lose roughly 1/3 of your balance. I am always curious how people protect themselves from such scenarios. Because people are not crypto, we can not "hold" till better times or price and dont eat or drink.

[posi]

My Salary is in GBP, so they convert it into BTC every time, buy that amount and send it to me. Does that address your concerns?

I don't know what you shared is true or untrue.

My thinking is your company must have part of their financial treasury in Bitcoin. They have to buy Bitcoin and store it in their treasury or they accept Bitcoin as part of their business and use payments they received in Bitcoin then assign it as their budget for salary distribution to staffs including you.

Because if they have to buy Bitcoin at time of monthly salary distribution, it looks odds with me.

I think buying bitcoin at the time of monthly salary distribution is more suitable because no company wants to lose money if it buys bitcoin at a higher price than before to pay its employees. Bitcoin is very volatile and many companies that accept bitcoin payments mostly do not hold bitcoin, they will convert immediately after receiving payment, with the exception of companies involved in the cryptocurrency sector. But my question, OP said he convinced the company to pay him in bitcoin, which means they have never done this before, why did they accept so easily?

[xen1oph]

Working remotely with crypto payments has been a real game-changer for me when it comes to breaking down financial barriers. XGo to be my go-to platform for this, and their XGoID feature, It's like multitool of crypto management. Seriously, it simplifies transactions and keeps my crypto assets neatly organized. If you're into crypto, you should definitely give it a shot.

[justdimin]

I live in an underdeveloped country, but I work remotely for a fairly good web development agency. We don't have a lot of financial services/wallets here, so we had to go circumvent a lot of obstacles for me the money to get to my local bank account.

Does he pay you with black money? I find it hard to believe that a bank would have problems with you receiving income from a job, as long as it is legal and declared.

On the other hand, if at the end of the day you have to convert part of the P2P bitcoin to be able to pay in fiat, I don't see much difference to cashing in fiat, spending what you have to spend and buying P2P bitcoin with the rest, apart from the problem with your bank.

Yeah, there must always be a legal bank in each country no matter how strict they are with other foreign payment methods and banks now has an online version which allows people to receive their money anywhere in the world. This should work and is enough. No need to use a black money as it sounds illegal. Cashin in fiat is much easier than converting BTC to fiat. But, he should do what you are talkin about there if he started receiving BTC as a payment for his work. Each of us has our own preferences.

It may look complicated to us but maybe not totally for him and BTC still have some advantages than other payment methods out there. This should be the reason why he liked it better.

[Wind_FURY]

Bitcoin is always my first choice to receive payment from my freelancing work, while most of the person or agencies what I work with could pay in few of them aren't and they use paypal. Compared to PayPal, the time from which they pay up to I received it in my local currency, Bitcoin is a lot faster since the transfer doesn't wait for working hours, it's 24/7, and the fee is much cheaper. More of that compared to a couple years ago, more people and agencies can pay in Bitcoin now.

I'm nitpicking, but Bitcoin can't be compared to a consumer app like PayPal, because if PayPal or a simple fund transfer is available and easy to convert to OP's local currency then that would be more efficient. BUT if there's no other way to send OP's salary, and because there was a gap left in the market, then Bitcoin is the only network that could fill the gap. It's just like the Dark Markets buyers and sellers, no bank or payment processor will service it, therefore there's Bitcoin. Or the ransomware market - banks, credit cards and centralized payment processors will never provide service, therefore ransomware hackers use Bitcoin.

[davis196]

I live in an underdeveloped country, but I work remotely for a fairly good web development agency. We don't have a lot of financial services/wallets here, so we had to go circumvent a lot of obstacles for me the money to get to my local bank account. This whole process took a hefty fee, and time. And the worst part is the currency is absolutely shit and deteriorating (even compared to other fiat currencies),

Recently, I convinced them to start paying me in BTC. I save what I have to save, and convert the rest to fiat via P2P trading. Its so quicker and I get great deals, no more bullshit. I think this has been a great benefit of crypto for underdeveloped nations.

I have been accumulating bitcoin from a long time from my freelance work, but getting paid in it by my regular work feels awesome!

OP, your post seems vague and you have to answer some questions.
Where do you live? Turkey, Argentina, Venezuela, or some African or Asian country?
Where do you convert BTC to fiat via P2P trading? Bisq, Hodlhodl, Localmonero, Agoradesk, Bestchange or somewhere else?
What kind of obstacles are you facing for getting your money to your local bank account?
It seems that your employer has to convert fiat to BTC in order to pay you your salary, and then, you convert a part of your BTC salary back to fiat. This doesn't seem effective to me. Can't your employer just pay you in USD instead of BTC? Will your local bank accept USD transactions? There's no proof that you are getting a BTC salary. What if you are simply lying in order to get some merit for this post?