Introduction:
In this blog post, we will explore the options available for non-tech savvy employees who wish to receive their salary in Bitcoin. While the process may vary depending on the country you reside in, there are several services and exchanges that can facilitate this conversion. Please note that this information is for educational purposes only and should not be considered financial advice.
Option 1: Bitwage (U.S.-based service):
One option for employees in the United States is Bitwage. This service allows you to set up an account and provide your employer with a payroll deduction instruction. Similar to a split paycheck, a percentage or fixed amount is deducted from your paycheck and sent to a specific bank account using a specific ACH transaction. Bitwage then converts this amount into Bitcoin and deposits it into your Bitcoin address. Your employer is unaware that the payment is being converted to Bitcoin, as they simply include an extra ACH credit in your paycheck.
It is important to note that using Bitwage involves a custodial element, as fiat currency is involved. This means that at some point, someone else has control over your money. However, this service has been used by many individuals in the past and has proven to be reliable.
Option 2: Local exchanges and services:
For individuals residing outside the United States, similar services may be available through local exchanges or platforms. One such example is FINT, which may offer a comparable service in your country. These services allow your employer to convert fiat currency into Bitcoin on your behalf, providing a seamless way to receive your salary in cryptocurrency.
Option 3: Automatic buy on a local exchange:
If the above options are not available in your country, you can still receive your salary in Bitcoin by setting up an automatic buy on a local exchange. This involves timing the purchase for the day your paycheck arrives or the day after. By doing so, a portion of your paycheck will be automatically debited from your account, converted into Bitcoin, and made available for withdrawal from the exchange.
Conclusion:
While the ability to receive your salary in Bitcoin may vary depending on your country of residence, there are several options available for non-tech savvy employees. Services like Bitwage in the United States and similar platforms in other countries allow for seamless conversion of fiat currency into Bitcoin. Additionally, setting up an automatic buy on a local exchange can provide an alternative solution. It is important to research and choose a reputable service or exchange that aligns with your needs and preferences.
