Crypto as job salary - Yay or Nay?

[Ale88]

Let's say you have a job that gives you the option to have your salary paid in BTC, ETC, or any other cryptocurrency, would you prefer that or would you rather still be paid in fiat? If you'd prefer crypto payment, which currency would you choose and why?

This would be your hard-earned money that can either grow on its own or shrink in value within a small time.

It depends on the situation: if I can split the salary, then I would probably get something like 30-35% in bitcoin and 65-70% fiat, that because to pay the day-to-day expenses fiat is easier to use. And the other part in bitcoin would be like a DCA that I can do without even thinking about, and since they would go in a BTC wallet I like the idea that I wouldn't even see that money, so no temptation to buy useless stuff just because I have some extra money.

[Mahanton]

Let's say you have a job that gives you the option to have your salary paid in BTC, ETC, or any other cryptocurrency, would you prefer that or would you rather still be paid in fiat? If you'd prefer crypto payment, which currency would you choose and why?

This would be your hard-earned money that can either grow on its own or shrink in value within a small time.

Fiat, im not saying that i dont support crypto pay but we do know that on the moment that you would recieve your salary then you might be ending up on less. Why? its volatile as we do all know
and there's no way that you could really be able to avoid such stuff + you would be minding about fees when it regards on converting it to fiat on which simply means that there are tons of deductions
and this is something that we dont really like. Right? This is why even if you do love crypto but still you would really be that highly be dependent with fiat when it comes to salary.
You could always have the choice on making up some purchase or buying up Crypto with those salary that you have been able to accept with your job. It would really just that a matter of acceptance
of someone whether they would really be that tending to accept directly with crypto or with fiat as with those common days.

[AnonBitCoiner]

I don't think it will be easy to accept in crypto, might consider Bitcoin but it should be equivalent to a specific amount. I would not want the volatile nature of the market to affect me since it is my salary that is meant to cover up my expenses. Fiat is also a good option to accept as payment but in a way it is less important, why not just continue receiving payment on the countries fiat at least it becomes less of a stress to sell and not about if the price will drop below before actually selling off.

It is not possible to accept Bitcoin as a payment of salary because no one is in desire to put their single salary into unstable worth that cannot cover their expenses. Bitcoin is acceptable by the people only for the purpose of investment but neither they want to use it for payment nor they want to take it as a salary.

Fiat is better to take as a salary because its value remains stable and we are getting the exact amount of cash in the form of fiat at the end of a month. People choose Bitcoin for the purpose of investment because of its volatile feature but due to this volatility they will never wish to get their salary in the form of Bitcoin.

[Oneandpure]

It depends on the situation: if I can split the salary, then I would probably get something like 30-35% in bitcoin and 65-70% fiat, that because to pay the day-to-day expenses fiat is easier to use. And the other part in bitcoin would be like a DCA that I can do without even thinking about, and since they would go in a BTC wallet I like the idea that I wouldn't even see that money, so no temptation to buy useless stuff just because I have some extra money.

Actually receiving in bitcoin for payment salary more interested than fiat but depend with bitcoin price, when bitcoin on higher price seems more profitable receiving with fiat because potential of bitcoin get correction after salary receiving. But get more increasing the values of salary when bitcoin get correction but I doubt any company want to change of payment salary every time.

There are two scenarios here.

Scenario 1: If BTC would be globally accepted, which means even the small stores nearby your house would start accepting BTC payments then I would opt to receive my 100% salary in BTC.

Scenario 2: If BTC is not yet globally accepted, that is the current scenario, in that case I would accept 50% of my salary in BTC and the rest 50% in fiat.

I don't think any company want to make this scenario for salary payment, its difficult to pay half in fiat and left half in bitcoin because they want to make all the same payment way for salary as fiat or receiving in bitcoin. However bitcoin still not acceptable as legal payment currently and difficult to receive salary trough bitcoin for offline working.

[Gaza13]

Since I can have my bitcoin changed to fiat when I want to pay for goods and services, I am ok with receiving bitcoin as salary, because for sure bitcoin as salary helps to stop alot of unfavourable outcomes such as over spending, because with bitcoin you have to go through a process before converting the bitcoin to fiat, so it won't be easy to just spend up it money just like that.


Unlike receiving fiat as salary, which gives your express access to the money and increase your chances of spending up all the entire money without saving any part .

It depends on whether or not the company wants to use this asset to pay all its employees, what if a fairly expensive transaction occurs when transferring bitcoin, is the company willing to bear it? There are some who agree with this regarding payments with bitcoin, but we cannot stop it for our needs. If someone overdoes shopping This depends on how someone organizes and manages their finances. Paying salaries in any way we certainly cannot avoid things that involve daily living needs.

[oktana]

I didn’t know about being taxed twice and I am forced to believe that it depends on the country. For what I know, it gets taxed once, I don’t know at what point but I know it’s supposed to be once. And for countries where it’s once, I think what I said is valid. Or not?

When you report your tax, have you ask or consult to the tax officer if some of your earnings are get paid in cryptocurrency? if you ever ask or consult with the tax officer and he said it's only get taxed once, then I'm wrong.

Like I said, it should be specific on the countries. Some countries are still trying to understand how cryptocurrency works and then approve it, and hence they’ve not gone that far to implement taxation for gains. I know a few countries do it because once read a thread but tax on gains based on my knowledge is not widely done for one to worry about it.

[God bless u]

Let's say you have a job that gives you the option to have your salary paid in BTC, ETC, or any other cryptocurrency, would you prefer that or would you rather still be paid in fiat? If you'd prefer crypto payment, which currency would you choose and why?

This would be your hard-earned money that can either grow on its own or shrink in value within a small time.

As far as the salary of the lower middle class is considered I don't think it's the right strategy to give salaries in crypto. There will be many financial and technical problems that these people will face if they are taking salaries in crypto.

First of all most of the workers spend their salary divided on the monthly basis. As we all know that crypto is a very volatile market and it can have severe effects on their salaries. I think it's better to keep them away from these stresses.

[Yamifoud]

It is still a debate whether it is a good option or not but for me, until it is not yet accepted in my local, I won't take it. I see this is also a concern by most where the legality and acceptance of Bitcoin are in question. Maybe we consider this option in the next few years but at this time, that is somewhat not the best deal to do. Unless our purpose is to just invest for the long term.

In fact, I don't hear it has been discussed by my employee and I think it was not in his mind as well considering the that adaption is not that wide enough.

[NotATether]

It is still a debate whether it is a good option or not but for me, until it is not yet accepted in my local, I won't take it. I see this is also a concern by most where the legality and acceptance of Bitcoin are in question.

What? You're on a Bitcoin forum.

Why would you care about whether some government made it legal or not?

Unless it was your government, of the country that you live in, the is saying something like that, there is nothing to be concerned about regarding accepting Bitcoin salaries.

[Iranus]

It is still a debate whether it is a good option or not but for me, until it is not yet accepted in my local, I won't take it. I see this is also a concern by most where the legality and acceptance of Bitcoin are in question. Maybe we consider this option in the next few years but at this time, that is somewhat not the best deal to do. Unless our purpose is to just invest for the long term.

In fact, I don't hear it has been discussed by my employee and I think it was not in his mind as well considering the that adaption is not that wide enough.

The argument only comes from a small number of bitcoin investors, and ordinary people never make this choice because bitcoin is clearly not yet a legal or widely used currency.

Personally, I would also choose fiat instead of bitcoin for the reasons everyone mentioned above: price fluctuations, transaction fees, not yet popular... there are too many disadvantages if we receive salary in bitcoin. It is unknown whether bitcoin will become a currency and be widely accepted in the future, but at the present time, receiving salary in bitcoin is still not a suitable option.

[Webetcoins]

Been doing this for about 4 years now, the first few years wasn't good but it is overall that. I think what we need to realize is that crypto is a currency just like any other currency, what you do with it after you get paid is all up to you. Meaning that you could end up trusting it with crypto and keep it there for a while, or you could just focus on doing something else with it and turn it into fiat right away.

Even the simplest campaign income is something you could do, it wouldn't be really all that complicated, we are talking about something that will not be all that complicated and we could do something that may not be all that difficult for people to understand. So all in all, we are talking about crypto as a good payment in the end.

[Wind_FURY]

I believe many people have missed the point on why they want to be paid Bitcoin or an altcoin/shitcoin. Although they're right to choose part of it to be in Bitcoin, or if you ask them, altcoins/shitcoins - because "store of value". But that shouldn't be the main feature to make us decide why we should get our salaries in cryptocurrencies. It should be efficiency. If your employer can't give your salary in cash, or send it straight to your bank account, that's actually when you should want to get paid in Bitcoin.

[Casdinyard]

Let's say you have a job that gives you the option to have your salary paid in BTC, ETC, or any other cryptocurrency, would you prefer that or would you rather still be paid in fiat? If you'd prefer crypto payment, which currency would you choose and why?

This would be your hard-earned money that can either grow on its own or shrink in value within a small time.

As a crypto writer and a project manager for some cryptocurrency projects both big and small, getting paid in crypto is just an after-thought to me.

I don't mind getting paid in fiat, I don't mind being paid in stablecoins, I wouldn't mind being paid in crypto since I'm used to it as well, and I know workarounds that I can do if I need cash at the moment, if that's what you're highly concerned about.

The biggest benefit that getting paid in crypto could do to you is the fact that it automatically claims your stake in terms of investment, meaning as long as you don't pull everything out of your wallet, you're set to go already and you don't need to waste money on fees anymore. Of course it doubles the process on the other side of the spectrum, which is when you need fiat money for daily expenses, but I'll take that any day than dreading to invest in crypto cause I don't have that much left on my pay.

I believe the reservations that a couple of us have over this concept lies on the fact that they haven't tried it yet, but for the most part, it's just like getting paid via venmo or better yet, through your checking account, So the process isn't really hard per se unless you're computer illiterate.

[harapan]

It is my salary and I need some of it to get by each month so I will have to take some in fiat. If I am allowed to pick a percentage, I will take 70% in fiat and 30% in Bitcoin. No other cryptocurrency will be considered.

If I have to pick one, I will take 100% in fiat then buy bitcoin with the amount I want to from each pay cheque. This will change as my financial outlook changes.

- Jay -

So long as it stills offers money values,its also another form of money,I don't have issues with that.The idea of paying wages and salary in cryptocurrency instead of the normal regular money is even better due yo tge transparent transaction records that are stored on the blockchain.
With the situation that's radically operating,bitcoin has still not been widely adopted or accepted,otherwise they're some values attached to been paid with bitcoin.Knowing,accepting and adopting bitcoin can also be an opportunity to earning smart bit coin option.

[Finestream]

Let's say you have a job that gives you the option to have your salary paid in BTC, ETC, or any other cryptocurrency, would you prefer that or would you rather still be paid in fiat? If you'd prefer crypto payment, which currency would you choose and why?

This would be your hard-earned money that can either grow on its own or shrink in value within a small time.

It depends on the situation: if I can split the salary, then I would probably get something like 30-35% in bitcoin and 65-70% fiat, that because to pay the day-to-day expenses fiat is easier to use. And the other part in bitcoin would be like a DCA that I can do without even thinking about, and since they would go in a BTC wallet I like the idea that I wouldn't even see that money, so no temptation to buy useless stuff just because I have some extra money.

I would also love this idea. Not only you will have fiat, but you will also gain sustainable amount of bitcoin in the long run. That way, no need to timing in buying whenever bitcoin price is bearish because regardless of the price, you will be paid and receive bitcoin every month. And the good thing about this is, you don’t have to reserve funds from your fiat anymore just to buy bitcoin, because you already have both, bitcoin and fiat, it’s up to you by then how you will manage bitcoin and fiat that they will surely grow in the long run.

[rodskee]

I prefer fiat because I already have my Folio filled with investments , that's why I believe better
to accept Fiat because we can decide what part to be for daily expenses and how much to be added
in my investments.

and it is also important to note that the cryptocurrency you are choosing isn't extremely volatile at the moment of your payment because in case it drops significantly in value, you will lose money which isn't what you would want.

I guess that is where it gets tricky because salaries come in regular intervals and you are not the one who decide when it will be given to you. It is all based on a contract which you cannot really change unless you ask for an advance but I don’t think you can ask that your employer hold on to your salary for awhile until the coin get in on a good position. It’s difficult almost impossible to accurately estimate or predict the price movement of a coin.

but if you will choose bitcoin and your employer can provide that for you then why not right?

Factors are:
First, we consider whether cryptocurrency is legal in our country or not.
2nd, if Bitcoin is accepted as a mode of payment in major establishments or not.
3rd, do we already have an idea about crypto?

i think the only one that needs to be answered is the second one because the other 2 are already given .

[Zanab247]

Personally, I keep these two things separate. I work to generate fiat, which I use for basic needs and savings, while on the internet, I receive cryptocurrency as income. However, if my place of work paid me in crypto and had to choose, I would choose Bitcoin, or Ethereum, or maybe Binance Coin, besides that I would also accept USDT because I feel that it is the same as fiat.

If you are receiving BTC as payment in your working place, you can convert the BTC into fiat money in the exchange market to be able to use it to buy whatever you want to buy for your family to live well, and if you have nothing to buy at the moment , When you receive the BTC as salary payment, it will increase higher above the amount you receive from the company when bull run occur which is one of the advantage that will make you to accept BTC.

BTC and ETH are good coins many companies like to use to pay their workers, and if you prefer BTC, it will make you rich when you spend a long years in that particular company because you will not like to use the BTC than to hodl them like 4 years before you can sell to take profits.

USDT is a centralized currency which some countries are use to in many companies, but it will not going to add to your profit like the way decentralized currency will add to your profits.

[peter0425]

So long as it stills offers money values,its also another form of money,I don't have issues with that.

Money is money. Bitcoin is money. Bitcoin is a currency. It has always been the purpose of bitcoin isn’t it? To be used as an actual currency and to be used for transactions without any third party breathing down your neck. What I would be concerned about though is the taxes they could charge you from receiving bitcoin as your salary and you decide to swap some of it for fiat or other currencies.

From what I know the taxes on bitcoin you’ve receives will increase if the value also increased over the course of time.

[Strongkored]

Let's say you have a job that gives you the option to have your salary paid in BTC, ETC, or any other cryptocurrency, would you prefer that or would you rather still be paid in fiat? If you'd prefer crypto payment, which currency would you choose and why?

This would be your hard-earned money that can either grow on its own or shrink in value within a small time.

Bitcoin would be my choice if I had to receive a salary with cryptocurrency, but if there was still fiat in the options then fiat would be the main choice, and I would buy BTC when receiving a salary because we can of course choose the price we want, meaning we can wait for the price to fall if we feel like it at that time the price of BTC was still too high.
The unpleasant thing about receiving a salary from crypto is that its volatility may be greatly affected so that when we exchange to fiat we receive less because after all we will make more transactions using fiat than crypto, so for now crypto is not a good choice for main salary unless accepting it as a second source of income because most people would prefer to keep it for a certain period.

[highalch]

The only problem is complete transparency on the blockchain.

I'd prefer my employer not know my bitcoin wallet, previous and future bitcoin transactions. The same way I don't show them my bank statements month to month.

And yes, I'll not be willing to use mixers just to get locked out of the tradfi world and make myself another struggle cashing out btc for fiat.