Things to consider before receiving a salary in Bitcoin
The hype behind Bitcoin refuses to settle down and the most interesting part is that apart from trading with Bitcoin, people have become more adaptable and practical towards the digital currency now.
But still, there are many questions in the mind of people like how can it be put in everyday use or can I buy a coffee with Bitcoin?
Among all these queries there is also one more question that carries a lot of weight among the working employees that whether they should take partial or their full salary in cryptocurrency?
So, as it is the most talked topic around the business market, I thought why not let it break down for you the advantages and disadvantages of receiving a salary in Bitcoin that will help you decide which way to go!
It is the best feature of Bitcoin that people swear by. If you too are looking for privacy options in your financial transaction nothing is better than Bitcoin. Bitcoin is open yet private at the same time.
Let me clear your confusion! Well Bitcoin is not anonymous nor it is untraceable but it also pays off to any person without disclosing your identity unless you follow some responsible security practices. So, it is the best option for anyone who wants to keep their financial information a secret.
It is not possible in case of traditional currency which requires third party work to manage your finances.
It is the most efficient form of currency. Say for example Bitcoin is globally accepted and accepts international payment with so much ease. It does not depend on any kind of third party or bank. The best part is no extra fees that you have to pay to the bank for their services.
- Financial Liberation
The part is the financial liberation that you get with Bitcoin. The currency comes to the private bank that you can use with your set of eyes. You can use it whenever you want to and no one is waiting to freeze your account.
Not many companies are offering crypto-currency
Fine, you must be all very glad reading on the pros of Bitcoin and may want to shift in a company that offers a salary in cryptocurrency. But, if you are thinking so get ready for a tough search my friend as a very few companies offer a salary in digital currency and it may be very difficult to find them.
In order words, it will not be wrong to say that companies are still not used to the idea of paying in crypto-currency.
Ok, this is another bad news here is that getting partially or fully paid is nothing but a great tax hassle that no one wants to get into.
You will be shocked to know that crypto taxes are a whole new level as compared to the fiat dealings. Also when it comes to the salary you want the things to be done just right, so who will want a big hassle for a portion of the salary in crypto.
Public keys are stressful
Ok, if your employer decided to pay you in crypto, it may lead to two problems! The first one being that the employer has to know your public key to send your crypto. It is most likely that you may not even want to share your key information; after all, it is such sensitive information.
The second one is that there are huge chances your company may do the blunder while sending your cryptocurrency. Even if one letter is typed wrong, your digital currency may get transferred to some other account and you may lose your money forever.
When you get salary in Bitcoin, you can invest this in the Bitcoin trading and you may earn a lot of money if you invest smartly. You can try online websites like Bitcoin Trader. The process is simple, just signup and start earning with automatic trading bots. Start today: bitcointrader login