Almost Half of Bitcoin-Friendly Companies Ready to Pay Their Employees in Virtual Currency

A newly released survey from Bitwage has revealed that 47% of bitcoin companies are open to paying their employees in the virtual currency.

Bitwage is a payroll services company which make it easy for payroll administrators to pay their employees in bitcoin. Photo: Siarhei Karotki/Coinspeaker

Bitwage is a payroll services company which make it easy for payroll administrators to pay their employees in bitcoin. Photo: Siarhei Karotki/Coinspeaker

Bitwage, a bitcoin-focused payroll service company, has revealed in the recently conducted survey that 47% of bitcoin companies are ready to paying their employees in the digital currency, e.g bitcoins.

The survey was conducted in order to evaluate the attitude toward available bitcoin payroll options in 150 companies, most of which were the US based.

Out of 150 firms, 38 companies replied, with 18 companies stating that they would be open to pay their stuff member in virtual currency.

The survey showed that 10.5% of the companies who responded are currently paying employees in bitcoin, not all the amount but some part of it.

Such famous bitcoin organizations as Coinbase, Blockchain and Alix Resources pay bitcoin wages to the employees.

Moreover, Bitwage mentioned that according to the results of the survey it is obvious that bitcoin payroll solutions are attracting professionals with talent and knowledge: “The bitcoin wage is opening companies up to entirely new talent acquisition markets that they would have previously been unable to reach, while also facilitating low cost international payroll payments.”

The survey follows the one that was conducted in January by Tech in Motion. The company assessed the sentiment of bitcoin payroll solutions in the broader tech industry. That report results stated that 51.12% of 847 respondents would agree to work for the digital currency.

Employee Incentivization

Furthermore, in addition to new gathered data about bitcoin companies and their point of view regarding digital currency payments, BitWage also collected more general data on virtual currency. The company made it possible for the respondents to comment on questions.

For example, it pointed out two companies, AcademyX and IVPN, that are motivating employees with bitcoin payments.

Bitwage said AcademyX is currently introducing contests with BTC prizes. Such things encourage employees to increase their level of IT skills. Additionally,  IVPN has offered to give bitcoin to those customers that are willing to help with product testing.

Bitcoin Payroll Roadblocks

Even though the change is getting accepted in some countries there are still still some countries that are blocking the innovation. According to the report the reasons are problematic regulatory regimes set by governments in such countries like Belgium, Canada, Holland and Italy.

Moreover, those who do accept bitcoin must have additional tax on capital gains earnings, while also monitoring the emerging bitcoin economy when making the purchases.

Share this article

We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language, all capital letters or appear to be spam, and we review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Coinspeaker Ltd.