2 San Diego Companies Paying Employees in Bitcoin
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....
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A newly released survey from Bitwage, a bitcoin-focused payroll solution provider, has revealed that 47% of bitcoin companies are open to paying their employees in the digital currency. The survey sought to assess the sentiment toward bitcoin payroll options held at more than 150 bitcoin-friendly companies, most of which were based in the US. In total, 38 companies responded, with 18 reporting they would be open to paying bitcoin wages. Of the companies surveyed, 10.5% of the employers who responded are currently paying employees, at least in part, in bitcoin. Notable bitcoin companies....
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....
GSM Solutions' Managing Director Alan Donohoe has responded to our email, explaining that the employees who are receiving part of their pay in bitcoin work in the head office: "We believed it best to start with our head office where we have five employees who work with bitcoin on a daily basis, so they understood the importance of this step in the evolution of bitcoin in Ireland." He adds that: "Paying our staff in bitcoin is another step in the direction of helping to extend the bitcoin ecosystem into our economy." An Irish company has begun paying its employees' salaries in bitcoin.....
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....
Companies in the United States can now automatically pay their employees in bitcoin. Wagepoint, the Canadian payroll service that works with companies to facilitate paying employee paychecks in bitcoin, announced Monday that they have expanded their bitcoin payroll services to the United States and can accommodate small and medium-sized businesses in all 50 states. The magic is done through the Wagepoint online app, which can "handle direct deposits, government remittances / reporting and all year-end reporting for both salaried and hourly employees. Shrad Rao, CEO of Wagepoint, told CCN....