Top Reasons to Choose Bitwage for Cryptocurrency Payroll.

Businesses are adapting and trying to stay ahead of the curve regarding the latest trends. It is time to learn about this new trend called "crypto payroll" and how Bitwage offers a solution for those looking to get paid in crypto, or for employers thinking about adding crypto to their payroll.

Why Companies Should Consider Crypto Payroll.

Remote work, inflation, the growing adoption of stablecoins, and many other factors make crypto payroll the best option for businesses looking for an edge on the competition. Companies wondering how to pay international workers, especially those in countries with inflation, should adopt crypto payroll for salary payments.

Here are a few things to consider if you are wondering what is crypto payroll and how it can benefit your business:

1. Hedge Against Inflation: Inflation is a real thing. This point is rather underrated when considering cryptocurrencies for payroll. Cryptocurrencies like Bitcoin or Stablecoins can serve as a hedge against local currency devaluation. Hiring overseas employees or contractors and using cryptocurrency or stablecoins for salary payments can protect your employees' purchasing power, especially in third-world countries or countries with hyperinflation (Like Argentina for example).
2. Simplify Cross-Border Payments: Crypto payroll makes cross-border payments a breeze. Unlike traditional banks which include fees, waiting times, account freezing, and so on, by using cryptocurrency and its decentralized nature, you can assure your employees that they will receive their salary without having a third party step in, making it much easier to pay remote employees or contractors in the currency of their choice.
3. Stay Ahead of the Curve: Adopting crypto payroll shows just how committed your company is to embracing emerging tech. This is extremely important for some tech-first individuals who look for companies that are not afraid to get down and dirty with new tech.
4. Cost-effective: Crypto-based payroll is by far cheaper than traditional payroll. With traditional payroll you are at the mercy of international bank transfers and wires, which can lead to accounts being frozen, salary payments taking longer than expected, and extreme fees just to get your employee their salary.
5. Faster Payment Processing: Workers receive their pay faster with cryptocurrency. Most crypto transactions take minutes compared to traditional banks which can take hours to days to process a transfer.
6. Preferred by Workers: Workers prefer crypto payroll over traditional systems. Employees can choose to get paid in Bitcoin, stablecoins, or a mix of currencies. This option helps answer questions like "Can salary be paid in crypto?" and "Can a business pay in crypto?"

Why Bitwage is the Superior Solution

Bitwage stands out as the premier choice for crypto payroll services, and here is why:

1. Expertise and Experience: Since 2014, Bitwage has a track record of over 10 years in the Bitcoin payroll space. We have helped businesses and individuals harness the true power of cryptocurrencies while providing superior support, security, and flexibility than its competitors.
2. Global Reach: Bitwage is available worldwide. If you are looking to hire abroad consider Bitwage as your payroll solution.
3. Security and Compliance: We prioritize security and adhere to strict regulatory compliance standards, giving you peace of mind when using our services. We are also non-custodial, which means that we do not hold user funds, so you can be 100% sure your payments will reach the destination without middlemen holding your funds like what we have recently seen with Synapse for example.
4. Flexibility: We offer flexible salary distribution, which allows companies to pay employees in a mix of Bitcoin, Stablecoins, and Fiat currencies based on the worker's individual preferences. Without any extra hassle to you. You simply send a wire or ACH transfer as you would normally, we handle the rest.
5. Bank-Free Payroll: With Bitwage, companies can do payroll without all the traditional hassles of banking systems. Reduce reliance on banking systems and streamline your payroll by leveraging Bitwage and cryptocurrencies.

Embracing Bitcoin and Future Technologies

Whether you are a crypto evangelist or have no idea what cryptocurrencies are, its no doubt that Bitcoin and other cryptocurrencies are reshaping finance. They offer a unique approach to finance, by offering a decentralized, secure, and efficient alternative to traditional banking and fiat currencies. Embrace the future of finance, integrate Bitwage's crypto payroll services into your business, and position your company as one of the leaders in this era of new technological innovation.

If the question is "Can I pay contractors with crypto" do note that employers CAN pay their workers with cryptocurrencies or stablecoins. There are some things to consider, like worker classification, or what country the employee resides in and how flexible they are with cryptocurrency. Nonetheless, Bitwage provides the necessary needs for companies paying employees in cryptocurrency or looking into getting on the crypto payroll train.

How to get started with Bitwage

Ready for what Bitwage has to offer? Follow these steps and get started with Bitwage!

1. Sign Up and Set Up: Simply sign up for a Bitwage Business account on our website, and our user-friendly platform will guide you through the setup process.
2. Add Employees and Contractors: Easily add your employees to the platform. Once they join, they can choose how to structure their salary distribution.
3. Fund Your Payroll: Fund your payroll using your preferred cryptocurrency, or with fiat currency(USD, EUR, GBP, etc). Bitwage also supports other means of funding and a wide range of cryptocurrencies as well. You can also fund your entire payroll with one transaction, removing HR pains while making it easier and more efficient to pay your employees.
4. Sit Back and Relax: Once your payroll is funded, Bitwage handles the rest. We will process the payments, handle currency conversions, and ensure your employees/freelancers/contractors receive their wages on time and in the currency or mix of currencies of their choice.

Conclusion

Bitwage's crypto payroll services offer a modern, innovative, and secure way to manage your company's payroll in this new technological era. By embracing the future of finance and attracting top-quality talent, your business will stand out as a leader in the competitive global market.

FAQ

• Can I pay contractors with Crypto?
  You absolutely can! Using Bitwage, you can set up payroll for your contractors and have them invoice their payment amount while not having to do much changes to your current payroll. It is important to correctly classify your contractors. Learn more about worker classification.
• Why do people get paid in crypto?
  While there are a number of reasons, some highlighted in this post, one of the main reasons is currency appreciation. Most individuals who choose to get paid in cryptocurrency believe in the future of that currency and the potential for its growth in monetary value. While this is speculative, workers also use cryptocurrencies (stablecoins mainly) as a hedge against inflation in their country. This mainly occurs in places where salaries are constantly being beaten by inflation, like Argentina.
• Do you pay taxes on crypto salary?
  Absolutely. Workers and contractors are required to pay taxes on crypto salaries. Each country has its way of doing it, please do consult with a tax specialist if you are looking to start receiving your salary in cryptocurrency or stablecoins.
• What is crypto payroll?
  Crypto payroll is the act of paying your employee salaries in either cryptocurrencies like Bitcoin or Ethereum, or in stablecoins such as USDC or USDT. It is basically the same as normal payroll except that payments are faster, more secure, cost-effective, and border agnostic, allowing you to pay anyone in the world without the hassle of traditional banking systems.