Payment or payment with digital coins is the norm in the crypto sector. However, participants in many other industries may also be tempted to leverage the benefits of decentralized currencies. In the case of bitcoin cash (BCH), it means fast, secure and cheap transactions. Some platforms facilitate encryption payments between companies and their employees, while peer-to-peer settlements are also a viable option.
Read also: BCH can be the global coin for daily expense, says Italian Crypto Executive
Crypto Payroll Services Offered
Companies that examine the possibility of introducing crypto payments for their employees and contractors may Need help from companies that specialize in this type of accounting. Bitwage is a well-established platform that delivers pay and human resources to this day and age when the use of digital currencies in payments is growing rapidly around the world.
Bitwage helps international companies pay their vendors faster and cheaper using crypto. Many of its customers are employers wishing to offer their employees and contractors benefits from digital assets. At the same time, it gives individuals who would like to be paid with coins the opportunity to receive anything or their entire salary in crypto competition.
The platform, which has offices on both sides of the Atlantic and customers from Brazil to India, works with companies that need comprehensive pay and HR services. It offers a wide range of flexible solutions and prices for both employers and employees. For payroll financing, Bitwage currently supports bitcoin core (BTC) and ethereum (ETH) as well as several fiat currencies, including US dollars, Chinese yuan, Russian rubles and euros.
When Bitwage receives the funds, workers can choose to be paid in either cryptocurrency or local fiat. In the US, it also allows companies to settle payroll taxes in crypto through a partnership with another American company, Simply Efficient HR. Since January, Bitwage clients in the United States have also been able to cover employee benefits such as Health insurance. Tax obligations related to encryption revenue vary between jurisdictions and taxpayers should check their local rules.
The creation and advancement of other platforms providing payroll services are likely to entice even more companies, especially those employing remote workers, to start paying wages in cryptography. Currently, Bitwage does not have too many competitors at the same level, but there are others with interesting suggestions. For example, an employment agency, called Laborx, has set out to cut banks and redefine wages by facilitating real-time remuneration through crypto competition.
In its vision of how the paycheck should look, the Australian startup estimates the current monthly and weekly payment schemes outdated and allows companies to pay their employees when they work. At the end or even during the working day, employees will be able to use what they have just earned. When the current payment system was announced last year, it was only the meaning of members of Laborx & # 39; s rental home ecosystem using its Labor-Hour tokens. However, decentralized cryptographic curves such as bitcoin cash can be used for the same purpose, as BCH transfers often cost less than one US cent.
Paying directly with Bitcoin
Many companies from the crypto industry often prefer to fund their entire payroll with cryptocurrency. Bitcoin Cash is the chosen currency for Bitcoin.com for its obvious benefits over other digital currencies, including fast and secure transactions treated at a negligible price.
No third party services are required to make such payments. All your employees and contractors will need a safe and easy to use crypto wallet app. Bitcoin.com Wallet is available for free on the App Store and Google Play. And for desktop applications you can try the Badger wallet.
With the wallet you can make and receive payments to and from any bitcoin cash and bitcoin core address and Badger has some useful features. One of them is the integration of an exchange service called Sideshift, which will allow you to exchange BTC and BCH at very low cost and you receive the exchanged amount directly in your wallet. You can also buy coins with a credit card and without visiting an exchange.
But even if you work with people from countries where smartphones are rarer and the internet connection is not so reliable, you can still pay them with bitcoin cash. Cointext is a platform that facilitates offline crypto transactions. The platform allows users to transfer BCH using simple text messages.
Create and send cryptographic invoices
Invoicing is an important part of the daily business relationships between companies and contractors. Multiple platforms now offer accounting and cryptographic business and professionals, including tools to help you create and send cryptocurrency invoices such as Gilded, Anypay, Blockonomics, CD Pay and Coinpayments.
At the same time, platforms such as Piixpay allow you to pay bills and invoices with digital assets, including bitcoin cash, to units that still accept only fiat money. To do so, just take a few steps before sending electronic cash, such as giving the exact amount in fiat currency, the recipient's name, and their bank account number.
The expansion of all these services has enabled many companies and not just those operating in the crypto industry to start paying salaries, bonuses and other remuneration in part or in full by means of cryptographic curves. For example, platforms such as Openbazaar, Augur, Uber and Airbnb are among Bitwage's customers.
Others have introduced schemes that allow part of the wage payments in crypto. Japanese internet giant GMO implemented such a system last year. And in May 2019, Peter Schiff's assertion that "there is no way people should work for wages paid in bitcoin" revealed Crypto Exchange Kraken that it just paid over a quarter of its employees in cryptocurrency.
Finding a Job Paid with Cryptocurrency
Technological advancements, including the proliferation of cryptographic curves, have made the world smaller, and the importance of freelancing is growing every year. A study released in 2017 predicted that freelancers will form the bulk of the US workforce within a decade. Remote control is a phenomenon that also quickly achieves traction globally.
At present, cryptocurrency is as close to a frictionless, boundless payment method as possible. It can serve the expanding freelancing room very well. A survey of freelancers' payment preferences in the United States, conducted by Humans.net in 2018, showed that almost one third of respondents would like to be paid in full or in part with crypto.
If you are a freelancer looking for employment in the crypto industry and you want to be paid with crypto competition, there are a lot of online platforms that can help You find the job you want. For example, check out websites like Crypto Jobs List, Angel List, Peopleperhour, Moneo, Hire Match, Blocklancer and Bitjob.
Workingforbitcoins is another option that allows you to connect companies that hire people to crypto. The platform supports big currencies like bitcoin cash (BCH) and will let you choose a job paid with your favorite coin. You can also find thousands of job ads that offer Crypto.jobs crypto remuneration, and a Freelance for Coins service allows users to place offers and bids on freelance services.
Is your business using cryptocurrency to fund its payroll? Are you interested in taking a job paid with cryptocurrency? Tell us in the comments below.
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