Would You Accept Salary Payment in Crypto?

5 Min Read
980 Words

Too early? If you were offered your pay in crypto how you would react. Would there be too many issues or would you be all over this.

If I were given the choice I would choose crypto despite the fact there would be a few issues to work around. I think the main reason would be to simply skip the banks. Even before crypto was popular I always though it was strange that employers give my hard earned (or not so hard earned) money directly to a bank.


Issues With Being Paid In Crypto

Why wouldn't I wanted to be paid in crypto? I realize that everyone's situation is different, and people in different countries are faced with different challenges when it comes to crypto as payments.

It's possible that I land a full time gig working for a crypto startup and I would be paid my monthly salary in crypto. I want to think this through on the fly here and get a handle on the challenges. Like I said I'm all for being compensated entirely in crypto, but there's bound to be some hangups.

Converting to fiat - Reality is I need to pay some bills in fiat, cell phone, rent, car payments, insurance, etc. none of these companies accept crypto as payments right now so I would be looking at having to convert a significant chunk of pay to fiat.

Currently I'm going through Kraken as an off ramp, and while sending crypto from exchange to exchange costs very little, the charge to withdraw in CAD is 0.25%


Processing Time - Currently listed at 2-5 days, and on average it takes me 5 business days to receive funds in my bank account, request on Monday, receive on Friday kind of situation.

This adds an additional week lead time before receiving a portion of funds that can be used to pay bills in fiat. Not ideal but it can be worked around with some planning.

Volatility - Often presented as a challenge for those thinking of accepting crypto payments as no one wants to charge $50 and have it worth $45 only hours later.

That's why the hodl gods gave us stable coins! I think stables solve this problem. Either I'm paid in a stable coin or I'm converting to a stable coin almost immediately. Given the choice I would choose to be paid in a stable coin like Tether or USDC, both would do the job just fine.

If I wasn't able to be paid in a stable and accepted a native coin or token, assuming there's liquidity, I would have the task of converting to stable every time I was paid. If this could be automated that would be preferred. Imagine I was away from a computer for a few days and was paid and unable to convert and lost 5-10% of my salary, disaster!

Perhaps in the future there will be a decentralized and automated service that could convert my coins to stables on a regular basis or in sync with receiving a paycheck.

Benefits Of Being Paid In Crypto

The ultimate on ramp? I think this is the ultimate wet dream for crypto investors, as there' no need to use an on ramp. At any point in time I can move my funds over to investments and put the money to work.

If crypto is where you prefer to invest than you're probably pumped to be paid in crypto. Yes you'll have to convert to pay some bills but the remainder of your funds could avoid being handled by centralized institutions and available for you to manage.

Decentralized Future - This may or may not be an important one for people out there but it is for me. I want to see a P2P future without centralized institutions having direct access to my funds.

Why the fuck does the bank get first dibs on my paycheck and not compensate me for this, in fact sometimes I pay them! That is so wrong and I can't wait for this to change.

Additional Thoughts

Until you can pay for most of your regular expenses with crypto's it might be too much to expect to be paid in crypto. Working for a crypto startup might be the only exception, and maybe for a while longer.

I see a future where more and more businesses and services accept crypto, possibly for the same reason I want to accept crypto as salary.

But which one will come first?

I'm thinking it will start at the small business level. Mom and pop shops, entrepreneurs, and startups will allow crypto payments until it's mainstream. I imagine large employers will mainly be slow to offer crypto salary and may even not have enough incentive to do this. I'm also completely assuming that government doesn't shut this down, as they're in bed with big banks, and you know they're going to fight this tooth and nail.

If you think the big banks that fund our politicians campaign are going to go quietly into the night, well surly you would be wrong.

Would you accept your pay in crypto?

If so is there a certain crypto you would prefer or would you go with a stable?

Ciao for now,


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