How Should Blockchain Developers Get Paid—Crypto or Fiat?

[Vadym IP]

Hello, guys! I'm Vadym from Info-Polus. You can read about us here: https://www.info-polus.com/

Info-Polus is a leading consulting and development company specializing in Web3 technologies and blockchain solutions. We deliver innovative and tailored services to provide our clients with a competitive edge and long-term success in the rapidly evolving decentralized technology landscape.

I asked you about hiring blockchain developers in one of my latest posts here: https://bitcointalk.org/index.php?topic=5520744.msg64792194#msg64792194

Still, I have a new question: How do you think blockchain developers should be compensated?

I'd love to hear your thoughts and personal experiences. How have you approached this, and what would you recommend? Thanks.

[Upgrade00]

It depends on which payment method you and your employees prefer. You will be hiring people from around the world who are all into blockchain and that technology has already created a way to send and receive money seamlessly across borders, it's expected that top of the list will be crypto payments as it's cheaper and faster.

Personal preference comes in where there is an impediment to crypto payments like regulations. In this case you'll need to reach an agreement on the next best option.

[shield132]

Hello, guys! I'm Vadym from Info-Polus. You can read about us here: https://www.info-polus.com/

Info-Polus is a leading consulting and development company specializing in Web3 technologies and blockchain solutions. We deliver innovative and tailored services to provide our clients with a competitive edge and long-term success in the rapidly evolving decentralized technology landscape.

I asked you about hiring blockchain developers in one of my latest posts here: https://bitcointalk.org/index.php?topic=5520744.msg64792194#msg64792194

Still, I have a new question: How do you think blockchain developers should be compensated?

I'd love to hear your thoughts and personal experiences. How have you approached this, and what would you recommend? Thanks.

Blockchain development is no different from other IT jobs. In my country, Blockchain developers get paid in local currency or sometimes in USD, they also pay taxes like other people. If it's possible for your job to pay salaries in crypto and your employee wants to get paid in crypto and it won't cause problems with the local government, then crypto payments will be good.
If I were a blockchain developer, I would prefer to get paid in Bitcoin because blockchain developers are paid well and I invest most of my savings in crypto, so by getting paid in crypto, I'd be able to save on conversation fees, I would only convert what I need to last from month to month.

[robelneo]

Still, I have a new question: How do you think blockchain developers should be compensated?

I'd love to hear your thoughts and personal experiences. How have you approached this, and what would you recommend? Thanks.

If you are looking to hire, then its your choice; if you approach a blockchain developer through his ads or offer, then its his choice.
Blockchain developers are flexible; many of them are working on freelance platforms like Fiverr, where they accept fiat through Paypal, and they also worked on crypto-dedicated platforms like Banigig, so its easy to deal with them when it comes to payment; they just need a client to showcase their skill.

[Z-tight]

Still, I have a new question: How do you think blockchain developers should be compensated?

It depends on what is comfortable for both parties, i mean the person who is hiring and the blockchain developer. BTC is great for cross-border payment, so it is a good option for compensating developers, if i was one i will receive payments in BTC. Some would also prefer to get paid in stable coins, so they receive a coin that is not volatile and they can convert it to their local currency when they want to.

[dkbit98]

Still, I have a new question: How do you think blockchain developers should be compensated?

In hindsight it is obviously better to get pay in bitcoin, but that only applies if developer is willing to hold and wait for price to increase in fiat value.
But everyone is a general after the battle, and developers still need to pay the bills and use money in everyday life.
I would always give a choice and make it optional for developers to select how they want to be paid.

[PX-Z]

Still, I have a new question: How do you think blockchain developers should be compensated?

It all depends on the company of course, if they have policy where employees can choose what payment method they can accept for compensation or not at all. Most of the time its cash and in payroll cards, now if blockchain devs are able to choose their pay methods, probably there are some few who will choose to accept in bitcoin or in other stablecoins.

[Darker45]

I'm not a blockchain developer so I don't have personal experiences, but is there really a "should" as to their form of compensation? I guess it's open to negotiations, right? But I'm sure there isn't a uniform form of payment for all blockchain developers all over the world.

Or if you're fixed about it or if you're paying in USD or BTC and it's non-negotiable, then it's up to the developer to agree with such term or not and decide whether or not to accept the job or apply for it.

[tabas]

In the end, it's still you that shall choose what kind of payment form you're going to give to your newly hired developer. If you want to pay them in crypto and the employee agrees and happily signs the contract, then that's it. But if they counter offer and asks for fiat payment but you're advocating the usage and acceptance of crypto in reliance of the job order, you can also suggest to pay 50/50 of crypto and fiat. Depending really on how both of you negotiate but again, it's still you as the employer that has the final say.

[Alone055]

Giving the employee the option to choose either fiat or crypto would probably be the most feasible way to move forward in this matter as long as both options are possible and available.

The employee will choose based on their preferences and what suits them better. Generally, people who might prefer crypto payments are the ones who basically invest a portion of what they earn in crypto all the time, and this saves them the hassle of doing that all over again. But it's basically the same thing because if you are getting paid in fiat, you convert fiat to crypto if you are investing, and if you get paid in crypto, you will need to convert a portion of it for personal expenses.

Regardless, if the company can do both, it is better to make it optional for employees to choose either fiat or crypto.

[Synchronice]

Hello, guys! I'm Vadym from Info-Polus. You can read about us here: https://www.info-polus.com/

Info-Polus is a leading consulting and development company specializing in Web3 technologies and blockchain solutions. We deliver innovative and tailored services to provide our clients with a competitive edge and long-term success in the rapidly evolving decentralized technology landscape.

I asked you about hiring blockchain developers in one of my latest posts here: https://bitcointalk.org/index.php?topic=5520744.msg64792194#msg64792194

Still, I have a new question: How do you think blockchain developers should be compensated?

I'd love to hear your thoughts and personal experiences. How have you approached this, and what would you recommend? Thanks.

I'm not familiar with Blockchain Development but I'm learning web development and I understand basic concepts. Just like web developers, blockchain developers also use programming languages like C++, Java, JavaScript, Python and so on. Since Blockchain Development is a profession of programmers, I believe that it's not necessary to pay them in cryptos. Blockchain is a very wide niche, you can implement blockchain in cryptos and you can also implement in real world to solve many real life problems, like supply chains and others. So, I believe that fiat should be the regular payment for Blockchain Developers, you know, everyone has a family and they have to convert significant portion of their salary in fiat if you pay them in cryptos but if you have the possibility to offer your employs two options, that's great, I'd vouch for that.

[coin-investor]

?[/b]

I'd love to hear your thoughts and personal experiences. How have you approached this, and what would you recommend? Thanks.

Everything depends on your negotiation; if you're hiring, you can put this in the form that the blockchain developer can fill up.
If you are picking a developer on the freelance market or you are the one approaching, then you can see that on the worker's resume. If you want to pay a developer a fiat and you can't see that on his resume, then offering him to pay in fiat is recommended. Many developers can accept fiat and crypto, as long as you agree on the price and the work to be done.

[Pmalek]

This is something that each developer should decide for themselves, obviously discussing it with their clients. What better way to show your faith and support in Bitcoin or a different coin than to get paid in it? Personally, I would find it unusual if a developer avoided Bitcoin and would only opt-in for fiat at all times. But you also have to be realistic. Fiat is easier to spend, and you can pay your taxes and everyday expenses easier. 

[Text]

If the project is built around blockchain or decentralized finance, paying in crypto makes sense since it aligns with the technology’s ethos. It gives developers an active stake in the project’s growth creating an extra layer of incentive for innovation. If the project requires a more stable financial environment or if the developers are less familiar with crypto markets, fiat payments could be more attractive. Some companies also offer hybrid models with a mix of crypto for future value potential and fiat for stability.

[Z-tight]

If the project is built around blockchain or decentralized finance, paying in crypto makes sense since it aligns with the technology’s ethos.

Of course that is certain isn't it, the blockchain technology is key for the blockchain developer, whatever they develop or maintain is based on the blockchain technology.

It gives developers an active stake in the project’s growth creating an extra layer of incentive for innovation.

The best a blockchain developer will do is accept payment in BTC, usdt or a few valuable alts, they are not going to accept payment in the token of an 'unknown' project.

[Pmalek]

The best a blockchain developer will do is accept payment in BTC, usdt or a few valuable alts, they are not going to accept payment in the token of an 'unknown' project.

That tells you everything you need to know about that project then. If you have a development team working on something like Fartcoin, they should be willing to accept fartcoins for payment. At least, sometimes. If not, they have zero or not enough faith in the success of the software they are building. The same is true for those who created the project. If they don't want fartcoins, no serious crypto holder should mess with them either.

[aioc]

The best a blockchain developer will do is accept payment in BTC, usdt or a few valuable alts, they are not going to accept payment in the token of an 'unknown' project.

I have not been a part of any project, but if a developer is part of the project with a token, he will accept a token and part of the sales of the token, whether its fiat or another spendable token, and a blockchain developer is one of the heart of a project, so they should be compensated with fiat or crypto; it doesn't matter as long as its spendable.

[LTU_btc]

I think that best thing would be giving option in what currency he want to get paid. Working in cryptocurrency company doesn't neccessarily means that person want to get paid in crypto. Many prefer to get fiat without having any extra hassle. It may be also reason because of local regulations. Others may prefer to get paid in crypto, so, IMO, giving option to choose would be best thing.

[yahoo62278]

I'm sure that whenever you reach out to potential clients or they reach out to you there is a negotiation phase or a list of expectations regarding pay. You either tell them what you expect or they tell you their offer and you guys negotiate from there. If you are unable to reach an agreement, then just pass on the job. Why does it have to be more complicated then that? Difference of opinion and thanks for the offer.

You are doing the work, you are free to only accept payment you deem proper. Whatever that may be, you decide to take the job and accept the agreed upon currency.

[joniboini]

Looking at OP's website, they have an hourly rate in fiat. If OP's team is as experienced as he says I'd assume they've got deals before. Wouldn't the process for blockchain development be the same OP? Or are you suggesting your new blockchain development team will be treated differently because they work in crypto? Honestly I think you should ask them first before getting an opinion from us.