Is Getting Paid Salary in Crypto a Good Idea?

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Is Getting Paid Salary in Crypto a Good Idea?

  • Crypto is still not widely accepted to use for bills and expenses
  • The value of crypto varies significantly
  • Income from crypto may be taxed twice

  • The option to be paid in crypto for your work is spreading. You can find a few companies offering the ability to take some, or even all, of your salary in cryptocurrency. But it's the freelance market that really seems to be driving the trend, particularly when it comes to international payments. On the one hand, it makes some sense. Crypto payments are relatively easy and low cost, especially compared to dealing with foreign banks and international transactions. Plus, there's a level of security and, arguably, anonymity, with crypto that isn't possible with more traditional payments. But despite its growing prevalence and popularity, crypto is not the same as cash.

For the vast majority of workers, their salary is used to, well, live. You need to pay your rent or mortgage, buy food, and manage your utilities. With a traditional cash salary, this is easy. Everybody takes regular currency. But that's not the case with crypto. Chances are pretty good your landlord isn't going to take Bitcoin, nor will your utility company. And while some retailers are starting to open up to the idea of crypto as a payment method, getting groceries with your Crypto will likely require jumping through some hoops. All in all, to actually buy the things you need for your everyday life will require cashing out for your local currency. Depending on the crypto exchange you use, this can add various fees, wait times, and general inconvenience you wouldn't have with a traditional paycheck.

My remotely job paying me in crypto and I’m managing to get daily necessities but still looking forward for more crypto adoption merchants

The only worry is if it goes bearish, but in case of bullish I’ll be making profit on top of my salary Suggestions please

submitted by /u/Wide_big_tall
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