More and more companies are offering their employees to be paid in cryptocurrencies. This is a relatively new trend that has developed in recent years. But what has triggered this change? And why do people prefer this as a salary rather than their country’s real currency?
Which people prefer a paycheck in cryptocurrencies? Do they also like legal online casino?
Bitcoin payments are instantaneous. So, you are not dependent on a bank or a middleman. This is the reason why the cryptocurrency system is very decentralized. Since there is no middleman, possible transfer fees are also lowered.
However, the value of this currency changes faster and also more dramatically. The ups and downs of the rates are not tied to anything. So it is difficult to predict.
Another disadvantage is the lack of insurance when transferring cryptocurrencies. There is no way to cancel a transaction or call someone. You are on your own. If something goes wrong, you are left without crypto. A minus point of this decentralized system.
So there are both pros and cons. Nevertheless, according to some surveys, on average 36% of employees would like to receive their salary in crypto or in NFT.
WHO WANTS TO RECEIVE BITCOIN INSTEAD OF REAL CURRENCY AS SALARY?
This change was greatly helped by the invention of the internet and smartphones. Now it is easier to keep track of stock markets and capital inflows.
Compared to their parents’ and grandparents’ generation, they have more knowledge about investments at the same age. Millennials and Generation Z show that they have diversified portfolios at a young age.
Although stocks and EFTs still play a role in diversifying a portfolio, it is cryptocurrency that has become more attractive to younger generations.
Investing has really moved online. Cryptocurrencies or other things can be bought and sold within seconds. This has become possible thanks to various applications on the Play Store. No matter what you want to invest in, you can quickly find the right thing for you. Be it ETF, stocks, or crypto.
As more and more younger people own a smartphone, this has led to more and more investors buying their cryptocurrencies via apps. Among the favorites are Binance or Trade Republic.
They have a wide user base around the world and are considered reliable. These consumer-friendly systems simplify the buying process and keep track of your funds.
The majority seems to agree on which currency to invest in.
In addition to Bitcoin, Ethereum, BNB, and Litecoin were also chosen.
Getting your salary in crypto or investing in it. It is always associated with risks. In our decade, there is nothing stable anymore. High inflation and extreme price fluctuations are the order of the day.
Newcomers to the financial world make the mistake of having high hopes. They see successful people on social media and think this is possible for me too. Which, of course, is undeniable. But it is rare. Especially with cryptocurrencies. So it is better to know your risks and also your opportunities.
But this topic is still considered very confusing and risky among younger people. Knowledge is the key here. It is important that you educate yourself on this topic. Also, remember that it is time consuming to track the performance of stocks. So when to sell and when to buy. You can ask your parents or just google to find a million pages of advice. To have a good overview of how much you can invest, it is important to make a financial plan. Never invest more than you can afford.