Will crypto be the new normal for paying employees?

[Good-Person]

This is not likely to be possible because of high transaction fee that is associated with cryptocurrency except another form of cryptocurrency with Lower or no transaction fee will emerge, if this will not be then there is no possibility of using cryptocurrency for normal transaction and payment of employee

There are many coins that have a really low transaction fees. For example, Bitcoin Cash and Litecoins have a really low fees. People can use these coins to make and receive payments. There was a time when even Bitcoin had a low fees, but people may choose these coins now for payment purposes.

 

[Setho]

As it stands right now a lot of government officials in so many countries are not in support of the cryptocurrency project. This is going to make paying of employees in cryptocurrency very difficult unless it starts getting government backing.

 

[Dagm1]

For the time being, I believe that crypto will be the new standard for paying employees because it is a legitimate and more reliable way of producing more money than putting money in the bank.

 

[Godspower]

For the time being, I believe that crypto will be the new standard for paying employees because it is a legitimate and more reliable way of producing more money than putting money in the bank.

I don't think it's going to reach such a stage. This is because the value of cryptocurrencies are not always stable and it fluctuates regularly, so how would you know the right amount to pay a worker when it is due?

 

[Sotherefore]

There are many coins that have a really low transaction fees. For example, Bitcoin Cash and Litecoins have a really low fees. People can use these coins to make and receive payments. There was a time when even Bitcoin had a low fees, but people may choose these coins now for payment purposes.

For now bitcoins is able to carry out a transaction with a lower transaction fee but I don't know if people are still using bitcoins for transaction compared to other cryptocurrency like LTC, most of the time I used LTC also and I also use Usdt for most of my transaction...

 

[Swazykid4all]

I don't agree with this because crypto fluctuates regularly so I don't advise it to be the medium of payment in businesses.

 

[Good-Person]

For now bitcoins is able to carry out a transaction with a lower transaction fee but I don't know if people are still using bitcoins for transaction compared to other cryptocurrency like LTC, most of the time I used LTC also and I also use Usdt for most of my transaction...

I do not think that Bitcoin currently has a low transaction fees. According to YCharts website, the average transaction fees for Bitcoin is around $2.67 and I think this is quite high. The average transaction fees for bitcoin Cash is just $0.008!

 

[kayode10]

It would be really difficult for crypto currencies to be the new normal in paying employees, this is because not everyone is well informed about how cryptos operate.

There are some people who don't know how this works on the internet. So the idea of paying them with cryptocurrency night seems scam. People like this will never work on the idea so you need to think about it thoroughly before you introduce it in the workplace.

 

[Good-Person]

There are some people who don't know how this works on the internet. So the idea of paying them with cryptocurrency night seems scam. People like this will never work on the idea so you need to think about it thoroughly before you introduce it in the workplace.

You are right! There are many people in my country as well who do not even know how cryptocurrency wallet works. In fact, they do not even know what exactly is a cryptocurrency. This is one of the main challenges cryptocurrencies are facing. many people do not know how cryptocurrencies actually work and they need to learn it if they want to remain updated about the latest technological trends.

 

[kayode10]

You are right! There are many people in my country as well who do not even know how cryptocurrency wallet works. In fact, they do not even know what exactly is a cryptocurrency. This is one of the main challenges cryptocurrencies are facing. many people do not know how cryptocurrencies actually work and they need to learn it if they want to remain updated about the latest technological trends.

So this is the reason why it is good to always have varieties of options for payment. At my workplace there are some people who prefer direct transfer to the bank account while some other people like to receive cash at hand.

 

[Good-Person]

So this is the reason why it is good to always have varieties of options for payment. At my workplace there are some people who prefer direct transfer to the bank account while some other people like to receive cash at hand.

Direct bank transfer and wire transfer are the traditional ways to get paid. Most of the employed people either receive salaries through checks or bank transfers. however, I have come across a few companies that pay through check also. No big or small company in my country uses cryptocurrencies right now as far as I know.

 

[Omotayo]

It is kinda tricky actually. I I know some companies are paying their employees in crypto in the us and we have seen complete adoption in el Salvador. A lot of other countries wouldn't even bulge from lifting the ban on it.

 

[Abasiama40]

Yes, this can be possible but not in all cases due to unequal / imbalance in the development, usage, exposure, loyalty, timidity to change and general acceptability. It is possible because some enlightened ones (professionals) have already started transacting and making payments using bitcoin but this is not the case with several individuals in under developed countries that are probably not aware or sparingly informed. Digitalization has not been totally embraced.

 

[Sotherefore]

I do not think that Bitcoin currently has a low transaction fees. According to YCharts website, the average transaction fees for Bitcoin is around $2.67 and I think this is quite high. The average transaction fees for bitcoin Cash is just $0.008!

If bitcoins can be able to send out a transaction by charging 2.67 dollars then I believe that's a good news, there was a time I was sending out $18 worth of bitcoins from trust wallet to binance and I was charged $8 for the transaction fee. You can imagine

 

[Good-Person]

If bitcoins can be able to send out a transaction by charging 2.67 dollars then I believe that's a good news, there was a time I was sending out $18 worth of bitcoins from trust wallet to binance and I was charged $8 for the transaction fee. You can imagine

Please note that $2.67 is the average fees. If you send a huge amount of bitcoins, then you will probably be charged more for that. There was a time when the Bitcoin network was clogged and this is why their fees was so high. However, the fees never decreased.

 

[Thinker009]

For the time being, I believe that crypto will be the new standard for paying employees because it is a legitimate and more reliable way of producing more money than putting money in the bank.

It is kinda tricky actually. I I know some companies are paying their employees in crypto in the us and we have seen complete adoption in el Salvador. A lot of other countries wouldn't even bulge from lifting the ban on it.

Although many countries are begining to see the importance attached to cryptocurrency,even if other countries are still contemplating on banning ,some are adopting it more

 

[Sotherefore]

Please note that $2.67 is the average fees. If you send a huge amount of bitcoins, then you will probably be charged more for that. There was a time when the Bitcoin network was clogged and this is why their fees was so high. However, the fees never decreased.

At least that is better because then I couldn't even afford to deal with bitcoins because of the higher transaction fee, it is a wise decision that they have reconsidered reducing their transaction fee for the interest of investors.. do you really transact with bitcoins regularly ?

 

[Shigobad20201]

I don't think it's going to reach such a stage. This is because the value of cryptocurrencies are not always stable and it fluctuates regularly, so how would you know the right amount to pay a worker when it is due?

Yes you are right, crypto currency have not gotten to a stage where it will be used generally as a means of monthly payment for workers throughout the world ,though it has been used by some for payment for now but it has not been generally accepted.

 

[kayode10]

If it happens in other country, I don't think it is going to be possible in my country because cryptocurrency has been placed under ban. The presidency has launched a currency of the money we spent in the country and it received acceptance from the public.

 

[Swazykid4all]

This is fast becoming a global force to reckond with, many businesses world Wilde have decided to trade in crypto because if its high stability and patronage.