Will crypto be the new normal for paying employees?

[Niftyyem]

Yeah, no one would accept to get paid in crypto currencies when their government does not permit them to trade using crypto currencies.

Yeah! The volatility of cryptocurrencies is also a cause for concern unless the payments would rather be in stable coins such as usdt.

 

[Justin]

Like countries that have banned crypto currencies transactions, it is usually not easy for them to withdraw their earninngs after receiving them.

Even in the countries where it is accepted, and is legal, withdrawal is a great problem. A lot of banks have stopped providing support for cryptos in Europe as well

 

[Bookwormlux1]

Yeah! The volatility of cryptocurrencies is also a cause for concern unless the payments would rather be in stable coins such as usdt.

That is what I also suggested in my previous comments. Using USDT or other stable coins would help limit the risk of employees losing out in the long run.

 

[Josemendez]

I don't doubt the possibility of this happening but it has a long way to go. First the country where the company is located need to adopt it , then the company have to secure the services of a crypto firm

 

[Heatman]

Due to the volatility in crypto currency, I do not see that happening any time soon. Furthermore, the transaction cost for crypto currency is also very high compared to fiat

exactly it's the nature of cryptocurrency that is going to make it impossible for it to be used to pay people their salaries because salaries are meant to be something that is paid with a stable currency.

 

[Bookwormlux1]

I don't doubt the possibility of this happening but it has a long way to go. First the country where the company is located need to adopt it , then the company have to secure the services of a crypto firm

Sure, no firm in a country where crypto currencies are banned would want to incure the wrath of the government by paying their employees in Crypto Currencies.

 

[Justin]

I really hope that crypto currency will become a new normal for paying employees, however, I don't think this can happen any time soon because there are till a lot of hurdles.

 

[Setfragil]

Personally I think that some people wouldn't like to be paid in cryptocurrency because it's prone to increase or decrease in value within the blinking of an eye.

You re very correct, not everyone will prefer to be paid in cryptocurrency consider the volatility nature of cryptocurrency. Though cryptocurrency is taking charge of global payment platforms but will not be acceptable by everyone for the payments of their salary.

 

[Sotherefore]

I have never seen any business organisation that have started paying their employees with cryptocurrency because as it is not generally accepted as a normal mode for transaction, this might actually happen in the nearest future but not now.

 

[Razor1911]

You re very correct, not everyone will prefer to be paid in cryptocurrency consider the volatility nature of cryptocurrency. Though cryptocurrency is taking charge of global payment platforms but will not be acceptable by everyone for the payments of their salary.

It will take time for crypto market to settle down the volatility. Till then I also think that volatility is very high and should be avoided for commercial use as long as possible.

 

[Heatman]

When a lot of countries government and its agencies are actually fighting the use of cryptocurrency I'm not sure it's going to be very easy for them to adopt it as a means of paying salaries.

 

[Josemendez]

Sure, no firm in a country where crypto currencies are banned would want to incure the wrath of the government by paying their employees in Crypto Currencies.

Yeah , secondly due to the volatile nature of cryptocurrency , most of the workers may not like such idea because it can affect their money in the long run.

 

[Heatman]

Yeah , secondly due to the volatile nature of cryptocurrency , most of the workers may not like such idea because it can affect their money in the long run.

exactly you're very correct with your assessment because it is the volatile nature of cryptocurrency that makes it not to be able to be very efficient and paying salaries because when it falls when is used to pay salary, it will be useless.

 

[GIFTMICHAEL]

If all rewarding or online gigs will use crypto payment option to disburse payments to its members or users it will be a noteworthy something. That will make lots of people who fall short of paypal to engage on those tasks.

 

[Heatman]

If there's a situation where cryptocurrency prices keeps on rising along without falling then it makes it very possible for it to be accepted as a means of paying salaries.

 

[Kamon c4]

Cryptocurrency has proven to be worthy digital currency and can serve as means of transacting. However, there’re some negative circumstances revolving around the acceptance of usage of cryptocurrency as a means of transacting globally. For instance, currency influx wouldn’t be easy to monitor by the government leaving the economy at a disarray. Another important thing to consider is the possible job losses from this decision. Accepting cryptocurrency will make banks to become inferior or useless which may result to possible downsizing from most banks. There’re many other reason to against this motion.

 

[Heatman]

A lot of people actually have faith in cryptocurrency but the problem is that the government of so many countries are against the use of cryptocurrency and as a result of that it can never be accepted.

 

[GIFTMICHAEL]

That's it, many country government is just against it. Of those who are against it, will come and join those who have accepted it, it would be possible for it to be regarded as a major means of payment online and offline.

 

[Jumoke12]

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's gonna be a good thing if cryptocurrency will be accepted as a form of paying employees. in fact, the fact that Bizdustry pays in cryptocurrency already makes me to like the idea and I wish others could join in doing such as well.

 

[Setfragil]

Exactly is going to be very difficult with what the government I've been doing for the past few years to us cryptocurrency and looking at trying to use it as a means of payment is going to be almost impossible.

You are very correct. Some government are trying hard to make cryptocurrency to disappear from their economy, it will be difficult to make it the new way for the payments of salary to workers in many countries.