Cryptocurrency Wages Are Becoming a Trend. The Interest Is Growing
The fact that cryptocurrencies have become an integral part of our everyday life cannot be denied anymore. We see digital assets practically everywhere – in newspapers, television, social networks, and even central banks and various government organisations are interested in them.
Although many were initially hesitant to enter the world of digital currencies, the huge technological and investment potential convinced them to give cryptocurrencies a try. Especially in the last two years, many institutions have started adding Bitcoin to their balance sheets, and business entities focused on selling goods and services have started implementing technologies to be able to get paid for their services with cryptocurrencies.
In recent years, some companies have brought their employees a unique benefit allowing them to collect part of their wages directly in cryptocurrencies. This allows employees to save regularly without any unnecessary complications and effort.
No wonder. According to a March 2022 survey by SoFi, up to 36% of respondents would like to collect part of their wages directly in cryptocurrencies. Cryptocurrencies are still attractive and trendy, and there is no indication that it will be any different in the future. Sacrificing a few tens or hundreds of euros per month from your salary can bring you something you never even dreamed of in the future. That is why the possibility of receiving part of the salary in cryptocurrencies is attracting more and more attention from employees in companies all over the world.
For this reason, Fumbi has also prepared a brief overview for you, in which you will learn which companies or celebrities think outside the box and receive part of their salaries in crypto.
GMO Internet Group is a company with over 4,000 employees focusing on developing Internet infrastructure, online advertising, media, Internet finance and cryptocurrencies. In the past, the Japanese firm has taken a step that allows its employees to collect part of their wages directly in cryptocurrencies.
Employees in this company can decide for themselves what part of their salary they want to collect in crypto. The only limitation, in this case, is the minimum and maximum cap, which declares that each employee can receive a minimum of 10,000 yen ($67) and a maximum of 100,000 yen (about $670) from their salary in cryptocurrency, with the rest of their salary being paid to them in standard currency.
Furthermore, the company offers a 10 percent bonus for employees who receive wages in cryptocurrency to compensate for market volatility. GMO’s decision to start paying wages in digital currencies shows that the company is confident in the long-term positive prospects for the cryptocurrency sector.
SC5 is a Finnish Internet technology company that creates applications and software. It is one of the first companies in the world that already in 2013 allowed its employees to collect wages in Bitcoin.
Imagine that already in 2013 you would collect a part of your salary in Bitcoin. At the time, Bitcoin was trading for around $100, while its current price is up to 190 times higher. Although the employees may not have realised it at the time, the possibility of receiving part of their salary in Bitcoin back then was a benefit for them comparable to winning the lottery. Most people can only dream of capitalising on investment by 19,000% in 9 years at the current price of Bitcoin.
However, cryptocurrencies are still in development, and no one can predict the price of Bitcoin in another 10 years. Due to the huge technological potential, however, it is possible to assume that at the current price, Bitcoin may appreciate by several hundred, maybe even thousands of percent in the next few years.
“Being paid your salary in cryptocurrency could become normal for all Aussies in the next two years.” That’s the bold prediction of Fred Schebesta, CEO of comparison website Finder, one of the first Australian companies to offer its employees the option to receive part of their wages in crypto.
In an interview with news.com.au, Schebesta said that his employees were the main initiators of why the company decided to pay wages also in digital assets. Most wanted to receive part of their salaries in crypto, both for the possibility of saving and income diversification. A total of 350 employees can thus receive up to 25 percent of their salary directly in Bitcoin.
Schebesta further stated that his company already collects payments from customers through cryptocurrencies, so the option to pay employees in crypto was a natural occurrence for them.
The Trend Is Clear
The above-mentioned companies are just some of many that allow their employees to diversify their income. Investing directly from your wages during market downturns is a unique opportunity to start saving today and regularly expand your investment portfolio.
However, not only companies are slowly but surely moving to the Bitcoin standard. Especially during the last two years, many well-known personalities, celebrities, athletes or politicians have announced that they will receive their salaries in Bitcoin or other cryptocurrencies. Here is a selection of the most famous of them:
- Eric Adams – the mayor of New York, announced in the past that his first payments would be immediately transferred to Bitcoin.
- Lionel Messi – The football legend Lionel Messi received cryptocurrencies as part of his contract with the French club Paris Saint-Germain. Messi received cryptocurrencies as part of his welcome package at the club totalling 30 million.
- 50 Cent – Rap star 50 Cent has been paid for his past concerts with Bitcoin and announced that his next album would be purchasable with cryptocurrencies.
- Russell Okung – Russell Okung – Carolina Panthers NFL player, receives half of his salary in Bitcoin.
- Vivek Ranadive – the Sacramento Kings basketball club owner, has announced that anyone in the organisation (coaches, players, etc.) can request to receive part of their salary in cryptocurrencies.
Unique in Slovakia – bring your employees a unique benefit
It’s never too late to innovate. This is why Fumbi decided to expand the adoption of cryptocurrencies to Slovak entrepreneurs and their employees. Your company has the opportunity to be one of the first companies in Slovakia to offer its employees an innovative and unique company benefit.
Our experts have created a product in which employers can give their employees a unique opportunity – to automatically pay part of their salary in the form of cryptocurrencies to their own secure Fumbi account.
Fumbi offers the opportunity to employees of companies who join this program to directly choose which part of the salary they will receive in the form of cryptocurrencies to their Fumbi account.
Employees will use our most popular product, with which they invest in the entire portfolio of top-proven cryptocurrencies. The finances in this product are managed by the sophisticated Fumbi Algorithm, which tracks the value of the entire market and does not rely on individual cryptoassets. The investment will thus be rebalanced on a daily basis for the purpose of optimal diversification with regard to current market conditions.
Setting up the Fumbi Employee Program is free and easy to use, so it won’t burden your HR department. Furthermore, you can always consult the local support team to help you with everything. Thanks to this, you can quickly become an attractive employer and improve your company’s position compared to the competition.