Latest in Bitcoin

Image credit:

Some companies are already paying employees in Bitcoin, but it's complicated

Share
Tweet
Share

Sponsored Links

Direct deposit, stock options and the traditional paycheck are all outmoded: the future of employee wages, apparently, is Bitcoin. At least that's how Bitwage, a virtual currency payroll firm, feels about it. Bitwage reached out to 150 Bitcoin-friendly companies to see how they felt about implementing a Bitcoin-based payroll; of the 38 that responded, nearly half have considered it and about ten percent (read: four companies, after the math) have already done it. It's a novel idea, but the payroll company's own survey highlights some of the problems: the virtual currency isn't recognized as legal tender in most countries, which makes it incompatible with several European wage regulations. Companies would have to deal with the cryptocoin's curious tax status, too -- though Bitwage helpfully points out that there are firms (wink wink, nudge nudge) that can help with that sort of thing.

All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.
Comment
Comments
Share
Tweet
Share

Popular on Engadget

Engadget's 2020 Back-to-School Guide

Engadget's 2020 Back-to-School Guide

View
'Avatar: The Last Airbender' creators leave Netflix's live-action series

'Avatar: The Last Airbender' creators leave Netflix's live-action series

View
A 'GoldenEye 007' fan remake is dead after a cease and desist demand

A 'GoldenEye 007' fan remake is dead after a cease and desist demand

View
Puerto Rico’s Arecibo radio telescope suffers serious damage

Puerto Rico’s Arecibo radio telescope suffers serious damage

View
You can pre-order Microsoft's Surface Duo foldable phone today

You can pre-order Microsoft's Surface Duo foldable phone today

View

From around the web

Page 1Page 1ear iconeye iconFill 23text filevr