The rise of cryptocurrencies has sparked a new trend in employee compensation. Businesses across the world are beginning to offer their workers the option to receive payment in Bitcoin, Ethereum and other digital currencies. The idea of cryptocurrency as a part of a benefits package is straightforward: in addition to fiat currency, an organization pays its employees with a cryptocurrency like Bitcoin (BTC). This can be implemented multiple ways, either as a portion of regular pay, bonuses, one-off gifts or in place of a 401k matching plan. Employees can opt-in to allocate a portion of their weekly or monthly earnings to whatever digital asset they like, and it shows up instantly in their wallets. Though the mainstream may view cryptocurrency as an investment, individuals and businesses alike continue to adopt it as an alternative form of payment, whether it’s to buy consumer goods or pay employees. Internal BitPay data shows that crypto payouts have more than tripled over the past several months. Integrating cryptocurrency into an organization’s benefits package brings a slew of benefits for organizations and employees alike. From a branding perspective, payments in crypto shows that an organization is looking towards the future and modernizing. Cryptocurrency users are often young, digitally-savvy and high-income earners. Adding new and attractive benefits like crypto payroll can help entice star-prospects in a competitive field.
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