Popularity of Cryptocurrency Is Growing – Why then You Cannot Receive Salary in Cryptocoins?

Cryptocurrency is becoming more and more popular. Bitcoin has generated some millionaires already, who have earned their money just based on the bitcoin price growth. Moreover, there are options that cryptocoins will generate more income for more people. Cryptocurrencies are becoming legalized in more and more countries.

Why you cannot get your salary in bitcoin?

Though, when it comes to salaries, not a single employer will agree to pay it in cryptocurrency. Why so? Yes, cryptocoins are highly volatile. Yes, they are unstable. But that can be applied to almost any currency in the world.

Law may not allow it

Legislation in many countries specifies that salaries can be paid only in national currency or a cheque. Cryptocurrency is rather international than national, even though it can be legalized in your country.

Cryptocurrency is about securities

That is why many employers don’t want to deal with them. They may deal with additional legal requirements about securities.

Taxes can vary in different countries

Cryptocurrency price depends on the situation in the market in principle, while taxation is different in different countries. For big companies, that would be too complicated when we speak about the basic accounting.

Some companies offer payments in bitcoin

A Japanese company GMO Internet offers to pay its employers a part of their salary in bitcoins. The company management believes that it is a new step in labor relationship development.

Future is promising

Payments in cryptocurrency are not so fantastic. It looks like in future this will be an adequate option to pay salaries in big international companies that have employees all around the word. That could definitely eliminate inequality depending on the geographical location of the employee. Even though cryptocurrencies are very volatile, even though still not all people know about cryptocurrencies, it can be that cryptocurrency is the future of the financial world.

Add a Comment

Your email address will not be published. Required fields are marked *