This article was originally posted on The Bitcoin News - a trusted site covering numerous topics related to Bitcoin since 2012.
has been people’s favorite soon after it’s origin in 2009. Why it should not
be? It has made the life of people so easy. People are done away with the needs
of carrying cash, debit or credit cards.
will not be wrong to say that even in the presence of fiat currency;
cryptocurrency totally owns the economy like a boss. It is soon going to be the
backbone of the entire world’s economy system.
from being used as a payment method for services and shopping, Bitcoin is now
considered as a mode of payroll for employees per month. Though not all the
companies are cool with this idea, but a very few companies are supporting
Bitcoin and embracing Bitcoin as a mode of paycheck for their employees.
What is Bitcoin?
is a decentralized cryptocurrency. A set of computers that are connected
securely works on the program of managing Bitcoin payments. Each and every
transaction of Bitcoin is recorded in the official ledger of Blockchain. All
the accounts and information regarding each and every transaction of Bitcoin is
kept in records of Blockchain.
can either purchase Bitcoin from crypto-exchange platform or even mine by
solving mathematical puzzles for which you are awarded with Bitcoins. There are
also wallets available for transaction of Bitcoin for both mobile and computer
ahead let me tell you about some of the amazing benefits of using Bitcoin as a
mode of payroll.
- Lower risk for employees
there is a good news for employees, if you are working for a firm and do not
feel like revealing your account information. In case of fiat currency payment
system, you need to tell the accountant all about your account details in order
to receive the payment; however this is not the case with Bitcoin.
understands the need of security and privacy. Every time a Bitcoin transaction
is made, it is made to an anonymous Bitcoin address and the address changes
every time the transaction is made.
- High Security
Though being a cryptocurrency, Bitcoin is much
more secure as compared to fiat currency. The cryptocurrency holders enjoy
certain level of privacy and security as compared to debit, credit card holder.
Unlike digital cash, the hackers are not able the intercept easily the account
details of cryptocurrency transaction, making it hard for them to hack any of
the crypto-trader’s account.
So, what are you waiting for? Become Bitcoin Superstar and start investing today!
- Lesser transaction fees
is one advantage for the payer. The transaction fees of Bitcoin are very less
as compared to transaction of fiat currency. The Bitcoin transaction fees are
000.1 to 000.3 percent of the entire transaction, whereas in case of fiat
currency the transaction fees are as high as 30 percent of the entire
- No looking back!
happens a lot in trade that the transactions made by debit and credit cards are
reversed and it really hurts the business. It really feels bad to see that
after the service is given and client has reserved the payment.
not anymore! With Bitcoin there is no looking back, once you have made the
- Freedom from taxes
gives you the much required freedom from the taxes. There is no third party to
track your transaction and charge you for your purchases. As the identity of
buyer remains anonymous, the buyer needs not to worry about taxes.
- Anyone can own a Bitcoin
Bitcoin can be owned by anyone. It does not require ID proof or any documents. All you need is a Bitcoin wallet that will provide you with an address and you are good to go.
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Post source: Advantages of paying employees in Bitcoin