An Outlook On Whether Or Not Workers Should Accept Their Wages In Bitcoin

Uncertainty continues to surround the decision of many on whether or not to accept their wages in bitcoin. This is nothing unexpected, but it becomes more of a shocker at the point when the diehard bitcoin evangelists are seen struggling when it comes to making the decision to be paid in the digital currency. That is not to say that there aren’t any believers in moving down that road. They are there and in large numbers.

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Associated Challenges

It is rather complex calculating bitcoin taxes and on the same note it is worth noting that it is already banned in a number of places. The other thing is that it is not universally accepted and it is such factors that end up generating pessimism showcased by many globally.

Alex Buelau, CoinSchedule Co-founder and CEO, in a recent interview talked much about the volatility of bitcoin. He also spoke about the fact that it wasn’t accepted everywhere, this being a factor in people being reluctant to accept their salaries in bitcoin even if they are fans of cryptocurrencies generally.

Another official in CoinSchedule has moved ahead to reveal much regarding bitcoin and the payment of wages using it. According to this official, the payment of bitcoin salaries took into account the digital currency’s value at any agreed time and date as well.

A number of market analysts have time and again launched arguments asserting that the move to pay wages in Bitcoin in a significant way encouraged a lot of people to gamble. The professor of finance at INSEAD, Massimo Massa, in his statement outlined the point that it was possible for employees to receive salaries in bitcoin in the same way that they could also receive lottery tickets.

According to another official, it was important to create awareness amongst the staff. They needed to comprehend that there was no associated intrinsic value or any form of guarantee.

There is a major push at the moment for various merchants to start accepting bitcoin payments around the globe. Consumers need to be verified with an instant, secure exchange method that they can use at any point in time.

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