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Dear Bitwage customers,
Our mission at Bitwage is to give workers the freedom to be paid how they want, making payroll simple and compliant for their employers. As the leading provider of Bitcoin, cryptocurrency & stablecoin payroll and invoicing, we are excited to announce a major step forward in cryptocurrency payroll.
For the first time ever, employers can easily connect their payroll provider to Bitwage, thereby creating a simple and compliant solution for workers to receive any percentage of their paycheck in Bitcoin, cryptocurrencies, stablecoins or USD.
Almost any employer in the United States can offer this solution, because the integrations include, among others:
- Bamboo HR
- Quickbooks Payroll
- Sage Payroll
- Square Payroll
This new solution is notable as it eliminates additional overhead for HR while fully complying with FLSA guidelines.
Additionally, Bitwage offers a non-custodial experience, meaning employees get paid into any wallet they want, which maximizes security and diminishes risk for all users.
How does it work?
First, a company signs up to the Bitwage platform.
Next, the company searches for its payroll provider on Bitwage and logs in through the Bitwage Automated Connection.
At this point, Bitwage creates a custom, post-tax benefit on the payroll provider’s portal that employees can opt-in to. Think along the same lines of a post-tax roth 401k deduction already built into every payroll software today. Once invited and set-up on our platform, employees can then set an amount they would like deducted from their paycheck and distributed through Bitwage.
Every paycheck, Bitwage automatically creates a payroll for every employee’s crypto preferences by pulling the data directly from the existing payroll system. Employees will get paid directly to the Bitcoin, crypto, or stablecoin wallet of their choice, or even as their local currency, directly into their bank accounts. Every user sets their own distribution and percentage.
With this new feature, Bitwage offers the easiest way in the industry to provide fully compliant crypto benefits without the need to migrate from traditional HRIS systems.
Our mission is to enable workforces the way they want to be paid, whether it be in Bitcoin, crypto, stablecoins or local currencies.
We recognize that crypto can be scary for employers, so to enable this mission, we are building out fully compliant solutions and removing the complexities and custodial risk of crypto from the equation.
- Bitwage CEO, Jonathan Chester
This process, which is new to both the crypto and payroll spaces, comes from a long line of innovations that the company has unveiled in 2022: crypto 401(k), preferred wallet features, and lightning payroll.
It's important to note that our service is available to individuals globally, irrespective of their employment status, making it accessible to anyone, regardless of their employer's participation or the company they work for.
Are you a company owner looking to offer crypto payroll benefits to your team?
With Bitwage, you can provide seamless and compliant crypto payroll solutions without any additional overhead.
Our non-custodial platform allows your team members to choose their own distribution among Bitcoin, cryptocurrencies, and bank deposits.
Get started today by contacting us for personalized assistance!
FAQ page: https://support.bitwage.com/bitwage-automated-connection-faq
Contact us right now so we help you get started!