Will crypto be the new normal for paying employees?

[Alexandoy]

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.

I can agree that crypto coin is getting popular worldwide. However, with the topic that crypto coin will be used to pay the salaries of employees, that is far fetched because it is not practical. Can you imagine the salary that you receive today is worth $100 and tomorrow you will be surprised that its worth is only $99.50 due to the change in the market price? That is insane.

 

[Sotherefore]

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.

Don't expect this from any countries because this is not likely to happen, it won't really make sense for countries to accept high volatile coin as their mode of payment in which the value cannot be based on anything but the law of demand and supply , this is not likely to happen.

 

[Good-Person]

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.

The fact remains that cryptocurrencies are not accepted by all online money making methods and it is yet to be accepted by all online merchants and this means that it needs more time to become adoptable. I believe that a time will certainly come when cryptocurrencies will be accepted more.

 

[Godspower]

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.

I don't think it will reach that stage soon. Infact, a lot of countries around the world are banning the use of cryptocurrencies as official means of exchange during business transactions.

 

[Shigobad20201]

We are still on the same point, many countries have been putting a ban on the use of crypto currency, so it getting hard for crypto currency in getting generally accepted as a means of payment to employee.

I don't think it will reach that stage soon. Infact, a lot of countries around the world are banning the use of cryptocurrencies as official means of exchange during business transactions.

 

[Godspower]

We are still on the same point, many countries have been putting a ban on the use of crypto currency, so it getting hard for crypto currency in getting generally accepted as a means of payment to employee.

Do you think cryptocurrencies might go into extinction with the way it is being banned by several countries at the moment? I know it won't get to that stage but it is a distinct possibility.

 

[Shigobad20201]

Do you think cryptocurrencies might go into extinction with the way it is being banned by several countries at the moment? I know it won't get to that stage but it is a distinct possibility.

No, crypto currency is here to stay and its not going into extiction, but since some government and countries are putting ban on the use of crypto currency, it will be very hard to use it as a form of salary payment for workers.

 

[mayumi97]

This isn't likely to happen anytime soon in my country and it's not even because of ignorance. It would be impractical to use crypto as salary payment for employees because no shop accepts cryptos. There are laws that ensure salary payment in acceptable currencies and forms that are convenient for employees. Now, if you need to use a digital wallet to convert cryptos to the local currency, that's inconvenient. Shops would not accept cryptos because with what standard would they value them?

 

[Shigobad20201]

With the happening around the world where some governments are putting ban on then use of crypto currency has make it difficult for crypto currency to be accepted generally .

 

[Grandeur]

There's endless limit to what cryptocurrency can offer. The technology has provided a way one can make money and transact which is why I wouldn't be surprised if employers started paying employees with crypto.

 

[Shigobad20201]

There's endless limit to what cryptocurrency can offer. The technology has provided a way one can make money and transact which is why I wouldn't be surprised if employers started paying employees with crypto.

Anything is possible with this our technology era, but crypto has to be first accepted worldwide before they can start using it as a source of salary payment for employee.

 

[Grandeur]

Anything is possible with this our technology era, but crypto has to be first accepted worldwide before they can start using it as a source of salary payment for employee.

I beg to differ, crypto doesn't have to be accepted worldwide before it becomes a means of paying salaries, I believe we're being paid wages here on bizdustry for work done and it's through crypto even though it's not yet generally accepted.

 

[Heatman]

Do you think that Crypto will be the new normal for paying employees? Rather than have the money go into your bank account once a month, would it not be good to give the team member the option of being paid digitally?

For the fact that cryptocurrency will always be volatile it is definitely going to be impossible for it to replace the financial standard of the world because people cannot just wake up to lose all of their money without having a say in it.

 

[jay]

Do you think that Crypto will be the new normal for paying employees? Rather than have the money go into your bank account once a month, would it not be good to give the team member the option of being paid digitally?

It will be very difficult for cryptocurrency to be the means of paying workers their salaries because the volatile nature of the coins cannot guarantee that their salary is fixed.

 

[tyrim88]

I think the issue of making payment through cryptocurency to employees would not really go down well with most persons,considering the fact that the cryptocurency coin value is not stable,and can fluctuate at any given point in time.

 

[Lucy ID]

Crypto currency as a means or mode of paying staffs is not visible at all, I don't think that it's going to work at all. Many persons don't even still know much about crypto currency they either know little or nothing about it so using it as a mode paying is not visible for me at all

 

[Shigobad20201]

For now , crypto currency can never be the new form of payment because it has never been accepted worldwide first , though it might be used in some areas but not generally.

 

[Sotherefore]

Personally , I won't like to be paid in cryptocurrency because cryptocurrency is too volatile to my liking , you can't even trust cryptocurrency with your assets for a week without depreciation. Except I am being paid in stable coin.

 

[Setho]

This is going to be a very good innovation but then they are some countries that are still far away from legalizing bitcoin as a means of payment which is going to be a very big stumbling block.

 

[Chibson]

I don't think so because cryptocurrency is very volatile and these will make a lot of people to not even venture into it at all because they can lose part of their salaries if they are paid in cryptocurrency. I think it will be by choice because some stablecoins can actually keep your money intact for some period of time.