In the last two years, many high-profile workers (including celebrities and athletes) have announced that they would like to be paid in cryptocurrencies such as Bitcoin. Boosted by Super Bowl commercials and the popularity of NFTs, some employers are likewise willing to experiment with salary payment in cryptocurrency.
“Cryptocurrency offers some interesting advantages to companies, especially those that work internationally,” says Challenger. Unlike other forms of international payroll, paying employees in Bitcoin eliminates the need for middlemen to charge management or exchange fees. It also simplifies the process for employees who travel or do business abroad. And for workers who have the opportunity to buy or sell their Bitcoin in the open market, it gives them the option to benefit from the price of currency fluctuations.
Despite their soaring prices, cryptocurrencies aren’t yet widely accepted in the global economy, though they are increasingly used for payments on Internet sites. The main hurdle is educating the public that CBDCs exist, so that they are aware of their options when making purchases or sending money overseas. Meanwhile, technical workers are developing the technology that makes cryptocurrency transactions possible. They include web developers who write, enhance and maintain the blockchain apps that record and process cryptocurrency transactions. They also need a solid understanding of cryptography and persuasive writing skills to explain the complexities to non-technical users. Depending on the position, qualifications vary but often include a bachelor’s degree in software engineering or mathematics. Digital Currency Employment