Bitcoin is Now Helping Indians Receive Bigger Paychecks from Abroad
The Bitcoin Blockchain has enabled millions of workers in India to receive bigger paychecks in Indian Rupees through a new partnership between Bitwage and Unocoin. Less Waiting, Bigger Paychecks for Indians. Indian Bitcoin exchange Unocoin has partnered with Bitwage in an effort to improve wages for international workers. Leveraging bitcoin transactions, Bitwage is able to skip currency exchange and international transaction fees. It transfers wages directly to workers in India, who now have the option of being paid in Indian Rupees. This means that Indians can receive a bigger paycheck....
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Payments processor Strike has announced the launch of a new feature that will allow users to convert their paychecks to bitcoin. This feature brings workers one step closer to collecting their paychecks in bitcoin. Instead of the employer paying out wages and salaries in BTC, employees can take the paychecks they receive and convert them to cryptocurrency in one easy step. Receiving Paychecks In Bitcoin Strike is enabling users to convert all or some of their paychecks into BTC. Instead of cashing into fiat and then having to change back to BTC, users can directly convert to BTC using the....
India is the largest remittance market in the world and in fact, the country depends on a great degree on inward remittances, more so since the global economic crisis of 2008 than ever before. This should not come as a surprise as Indians form the world’s largest diaspora, according to figures released by the United Nations. In the past five years, more than two mln have migrated abroad. In total about 15.6 mln people born in India now live abroad. According to the Wall Street Journal, Indians working abroad sent a record $72 bln in remittances to India. In the last decade, remittances....
New York Mayor-Elect Eric Adams recently won the mayoral race for the city. On November 3rd, Adams became the second black man to be elected as mayor in the city of New York. The win was momentous in itself but Adams’s comments and stance on cryptocurrencies, bitcoin, in particular, have been what has pushed him into the limelight in recent days. The mayor-elect had made the news days after his election when he said that he planned to receive his first three paychecks in bitcoin. This was in response to Miami’s Mayor Francis Suarez’s comment that he was going to receive a paycheck in....
Crypto investments in India have been gaining significant traction over the past year, blockchain data indicates. Despite the ambiguous regulatory situation in the country, more than 15 million Indians have bought or sold digital currencies. Indian Crypto Investments Increase Amid Regulatory Uncertainty A growing number of Indians have put money into cryptocurrencies in the past year, which saw major coins hitting all-time market highs. Investments in crypto assets have increased from around $200 million to almost $40 billion, Bloomberg reported, quoting blockchain forensics firm....
Many Indians have signed a petition for the government to introduce reasonable crypto tax policies. This week, India’s finance minister, Nirmala Sitharaman, proposed taxing crypto income at 30%. Indians Sign Petition Urging Government to Rethink Crypto Tax Proposal A petition has been initiated on Change.org for the government of India to “introduce reasonable crypto tax policies.” Finance Minister Nirmala Sitharaman said during her Budget 2022-23 speech earlier this week that crypto income shall be taxed at 30% and no deduction, except the cost of acquisition, will be....