Will crypto be the new normal for paying employees?

[Good-Person]

The volatility of Crypto currencies may not be down with many workers though if that is the only option they may convert immediately to stable coins upon receiving it.

I do not think that volatility factor should hinder people from making cryptocurrencies as a payment method. In order to avoid price fluctuations, Employees can instantly withdraw or convert cryptocurrencies to cash. I do it always to avoid price fluctuations.

 

[tyrim88]

This is not likely to be possible and the reason I am saying that is because of the transaction fee that comes with cryptocurrency,for this to effectively take place then the transaction fee in
cryptocurrency that will be used for the payment of members should not be available.

I think even if the transaction fee is actually eliminated,it will not be very much ok for some persons to be comfortable with a payment face value that does not have a stable value.This will not really be accepted by most persons,because it is what they have actually worked for and their expectation would be high to receiving their pay in the value they have worked for.

 

[ahmedo24]

Payment of salaries to employees in cryptocurrencies will have to be with your own acceptance or willingness because not very many people can we stand the volatile nature of cryptocurrencies.

 

[Sotherefore]

I think even if the transaction fee is actually eliminated,it will not be very much ok for some persons to be comfortable with a payment face value that does not have a stable value.This will not really be accepted by most persons,because it is what they have actually worked for and their expectation would be high to receiving their pay in the value they have worked for.

If the transaction fee is completely eliminated then a lot of people will be using the Usdt which is also known as the stablecoin for any of their transaction, ripple also is a nice coin people can use for their transaction.

 

[Skysaint]

Honestly, cryptocurrency can actually serve that purpose and I wouldn't be surprised if it's already in play in most of these developed countries that actually do see the importance of cryptocurrency

 

[eLdavis]

Payment of salaries to employees in cryptocurrencies will have to be with your own acceptance or willingness because not very many people can we stand the volatile nature of cryptocurrencies.

What if they decide to make use of a stable coin like USDT or any other stable coin, won't that be alot better than having to face the volatile nature of crypto currencies.

 

[tyrim88]

If the transaction fee is completely eliminated then a lot of people will be using the Usdt which is also known as the stablecoin for any of their transaction, ripple also is a nice coin people can use for their transaction.

Then that would be very much ok for a lot of persons,because it will actually eliminate a lot of delay associated with the issue of payment,it will also aid them in the use of that medium in their personal e-transaction.

 

[ahmedo24]

What if they decide to make use of a stable coin like USDT or any other stable coin, won't that be alot better than having to face the volatile nature of crypto currencies.

personally using a stable coin is more like the normal traditional currency except for few countries where the u.s. dollars is Ali have higher impact on their local currency.

 

[Sotherefore]

Then that would be very much ok for a lot of persons,because it will actually eliminate a lot of delay associated with the issue of payment,it will also aid them in the use of that medium in their personal e-transaction.

Even if cryptocurrency is accepted as a general mode of payment only people that have interest in digital system will be able to use it effectively, most people who do not really know of cryptocurrency or people who believes that internet is a scam won't even care to try.

 

[tyrim88]

Even if cryptocurrency is accepted as a general mode of payment only people that have interest in digital system will be able to use it effectively, most people who do not really know of cryptocurrency or people who believes that internet is a scam won't even care to try.

I think the awareness of the use of the cryptocurency as a means of doing transactions and confirming payment has not really gone that far,so that could be a huddle to cross,i had the same experience years back.

 

[Good-Person]

The volatility of Crypto currencies may not be down with many workers though if that is the only option they may convert immediately to stable coins upon receiving it.

Yes, this is what I have also said. Volitily should not be a major problem if the employees convert immediately. However, we may also use stable coins to pay people. Litecoin remains my favorite coin when it comes to sending and receiving payments.

 

[ahmedo24]

Yes, this is what I have also said. Volitily should not be a major problem if the employees convert immediately. However, we may also use stable coins to pay people. Litecoin remains my favorite coin when it comes to sending and receiving payments.

Absolutely even here on bizdustry, the army pay everyone here who is a worker in a way and litecoin and immediately people receive it those who are not comfortable with leaving it we convert it to a stable coin.

 

[Kvngsammy]

I think other forms of digital payments such as cash payments to employees digital wallets like PayPal, payoneer and the rest.
This would be more feasible first than paying via cryptocurrency especially as majority of these currencies aren't stable and might just dip in value.

 

[Sotherefore]

I think the awareness of the use of the cryptocurency as a means of doing transactions and confirming payment has not really gone that far,so that could be a huddle to cross,i had the same experience years back.

Most educated people will easily be able to do it but some people who do not have understanding of school and those who cannot read and write may find it very difficult and some may not even accept it because they will not understand.

 

[tyrim88]

Most educated people will easily be able to do it but some people who do not have understanding of school and those who cannot read and write may find it very difficult and some may not even accept it because they will not understand.

That would actually be one of the issue we might have with the acceptance general and usage of cryptocurency,the literacy level is an issue,and even among the educated ones,its procedure is usually a huddle.

 

[ahmedo24]

That would actually be one of the issue we might have with the acceptance general and usage of cryptocurency,the literacy level is an issue,and even among the educated ones,its procedure is usually a huddle.

Continuous awareness will make people become fully informed about cryptocurrencies and there are people who will definitely be doing that job and also offer services to people that are illiterate.

 

[Sotherefore]

That would actually be one of the issue we might have with the acceptance general and usage of cryptocurency,the literacy level is an issue,and even among the educated ones,its procedure is usually a huddle.

That is not even my problem and if the government are really interested to make cryptocurrency as a legal mode of payment I believe they do not have any other option than to learn how to use it, because it is not my fault that they are are illiterate.

 

[kayode10]

Companies can adopt the uses of cryptocurrency to pay salary incentive and bonuses for the workers provided that the government do not place a ban on cryptocurrency. Such a thing cannot happen in my country because the government do not allow transaction of cryptocurrency.

 

[tyrim88]

Continuous awareness will make people become fully informed about cryptocurrencies and there are people who will definitely be doing that job and also offer services to people that are illiterate.

I think that wlll do the trick,because by contineous usage the procudure will become a routine and mastery will follow.I remember the usage of the ATM machine,that even the ones that are not literate enough have started using it.

 

[Thinker009]

Yeah I think cryptocurrency I actually the new method , because in recent news I am seeing various organizations actually making use of cryptocurrency to pay employee salaries ,it's a good development to me