Even though cryptocurrencies have been around for a decade now, it’s no denying that both them and their underlying technology, the blockchain, are still novelties for most people outside the cryptosphere.
There are many experts that agree that things will only get better for cryptocurrencies and the crypto market in 2019. Hence, you would not be the first person to think of some form of investment especially now since the market is bearish.
Before 2017, cryptocurrencies have been widely regarded as investment opportunities and not much else. Long story short, cryptos can bring a hefty long-term investment. Even though getting paid in cryptocurrencies might seem like something totally unrealistic or impractical, doing so during a bear market would mean you’re actually investing in cryptos for the long run.
In this article, we’re going to cover 6 reasons why it’s worthwhile to get paid in cryptocurrency, as well as provide you with some general tips on how to get started.
1. Help cryptos become more mainstream
This might not be the most important reason for wanting to get paid in cryptocurrencies, but you can be sure that this matters. Getting paid in cryptocurrencies means you’re financially independent of the government as you’re taking part in a parallel economic system outside the fiat sphere.
As more people start investing in cryptocurrencies, their mainstream adoption rates will skyrocket. By getting paid in crypto, you’re basically participating in a crypto economy.
2. Spend less on fees
Because of the unique nature of cryptocurrencies, when your employer pays you in the form of cryptocurrencies, the funds go directly into your crypto wallet without having to pay any type of fee. The same goes when it comes to sending money to a recipient from another part of the world.
Typical money transfers are usually quite expensive and may even take a couple of days in order to be processed. Usually, a cryptocurrency transaction takes place almost instantly (there are cases where this is not true). Another big advantage is the almost complete absence of fees for making payments with cryptocurrencies.
3. More freedom
One of the main advantages of cryptocurrencies is the fact that they can be transferred anywhere in the world almost instantly. To put it as simply as possible, cryptocurrencies do not recognize typical borders.
Since cryptocurrencies offer a high degree of transparency, it ensures that you cannot do anything that the other cannot see. Speaking of freedom, cryptocurrencies allow you to conduct operations at any time, be it at night, on weekends, or on holidays when banks and other financial institutions don’t work. Cryptocurrencies are decentralized, meaning that they do not depend on any controlling authority, but they are regulated by their users.
4. No inflation
We’ve already covered that cryptocurrencies are not subjected to the normal borders and restrictions their fiat counterparts need to respect. One of the main advantages of getting paid in cryptocurrencies is the fact that they are not subject to inflation. Of course, to some extent, inflation is still present in the crypto world (since it is needed for incentivizing the miners).
In the case of the typical banking systems, the inflation rates are mostly unknown, as central banks can very well print any amount of money without requiring the acceptance of the public. In the case of cryptocurrencies, the inflation rate is known.
5. High divisibility
One extra advantage of getting paid in crypto is represented by the high divisibility of the cryptocurrency. That said, cryptocurrencies provide you with the option of performing thousands of operations, regardless of their size.
6. Improved security
Because cryptocurrencies are decentralized and use modern encryption technologies, one can make a case regarding their security. In short, if a series of generic measures are taken, it’s virtually impossible for an outsider to access your wallet without knowing the complex cryptographic key.
Practical tips for getting paid in crypto
Cryptocurrencies are not what they used to be. Even though 2018 has been a rough year for cryptocurrencies, the crypto industry is more alive than ever. The blockchain sector is finally expanding, and blockchain job openings are more popular than ever.
If everything mentioned above strikes the right chord, then you will find the tips listed below to be quite useful.
One of the easiest ways to ensure constant payment in crypto is to actually work in the crypto space where most organizations pay their employees in crypto and not traditional currencies. Another option would be to ask your clients and customers to make an effort and pay you in crypto (it works especially well if you’re an independent entrepreneur or a freelancer).
Another good option is to look for a platform that incentivizes their users via tokens. Steemit is a perfect example in this case, as it’s a platform where you can write and, based on the quality of your writings, get rewarded in crypto tokens.
Asking your boss to get paid in crypto or getting a part-time job that pays in crypto are the first steps one can make towards ensuring the decentralization of the world. There’s still a long way to go until cryptocurrencies are so mainstream that they will manage to affect the macroeconomic trends of our world.
There’s a famous quote stating that “Rome wasn’t built in a day.” It’s the same here, as all these little steps will eventually add up to a massive shift in the ecosystem.