San Diego Employees Paid In Bitcoin ‘Never See a Paycheck’
San Diego based cryptocurrency wallet provider AirBitz was featured on ABC’s 10 News as the local news network reported on companies in the city accepting and paying workers with bitcoin and how the workers “never see a paycheck.” AirBitz launched in 2014 with founder Paul Puey creating a secure and simple wallet service with an added business directory. Airbitz had started its directory with 3,200 listings and Puey’s team believes the currency is the future. All ten Airbitz employees are paid in bitcoin, and Puey says “no one receives a paycheck.” Puey tells the news team how the digital....
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Imagine reporting to work and not receiving an actual physical paycheck. This situation isn't too weird for employees in a San Diego company that pays its workers in bitcoin. 3D printing company SD3D Printing in Miramar accepts bitcoin payments from its customers and uses the cryptocurrency to give salaries as well. These are stored in an online vault or bitcoin wallet, with transactions validated by a network of computers solving complex algorithms in a process known as bitcoin mining. Spending and Earning in Bitcoin. Another startup based in San Diego, Airbitz, also pays its staff in....
"We’ve done a lot of the upfront thinking to consider how we might pay employees should they ask to be paid in Bitcoin," said Ned Segal. Twitter may be the next major company to purchase Bitcoin, according to the tech firm's chief financial officer.In an interview on CNBC’s Squawk Box today, Ned Segal, who has served as the CFO of Twitter since 2017, responded to questions about how Twitter would react to Tesla’s recent $1.5 billion Bitcoin (BTC) investment this week. Segal said the tech firm was watching other companies closely, and discussed potentially adding the crypto asset to its own....
There is a growing number of requests for Canadian employees to have their salaries paid in Bitcoin. CBC News reports that Canada employees are increasing the requests to be paid in bitcoin. Some companies have already proposed this option to their workers. According to Canadian tax laws, salaries received in Bitcoin are viewed as barter income and taxed based on the equivalent in Canadian dollars. A small but growing and surprising number of workers are rejecting Canadian dollar salaries for bitcoin, according to a Waterloo, Ont., payroll firm. Noel Carisse, a Canada Revenue Agency....
The California-based business said the move aims to provide an alternative savings vehicle for its employees.
What's the easiest way to get bitcoins into your wallet? Answer: Get paid in bitcoin. BitPay, the world's largest digital currency payment processor, now lets employees do that with the beta release of its Bitcoin Payroll API for employers. "For the longest time the hard question was 'How do I buy bitcoin?'" said Tony Gallippi, co-founder and CEO of BitPay. "Now the answer is easy: 'Ask your employer.'". American W-2 employees (see below) can elect to have all, or part, of their salary paid in bitcoin for every pay period. It works as a 'net payroll deduction', meaning taxes and garnishes....