Have you ever imagine how it would be if companies starts using crypto to pay the salaries of their workers. Crypto users/fans will clamor and say YES it would be nice. But most companies won’t share similar idea. Well how about we educate the public on some reasons why companies should consider paying salaries with crypto.
SOME REASONS WHY COMPANIES SHOULD CONSIDER PAYING WORKERS WITH CRYPTO
1. Cost Efficient: Yes this is one major reason why companies should consider using crypto to pay salaries. The main goal of every company is to achieve desired outcome at the least expenses. Using crypto to make payment can just do this for the company. Imagine how much is charged on transfers made by banks to lets say 200 workers of a company. And imagine using Ethereum to pay these same workers almost free. With Ethereum for example, companies will have to pay little or no transfer fee for sending salaries to workers. Imagine how much time and money will be saved by the company.
2. Time Factor: Unlike bank transfer that usually takes 5 working days to arrive, crypto credit are almost near instant. Bank have too many processes to be followed before money is/are credited to individual. But with crypto all you need is a wallet address and everyone will be smiling. With crypto all payments can be made within the hour and everyone working with the company will be paid even before they know it.
3. Avoidance Of Complications: Sometimes money get stuck and some transfers don’t usually go through. Most times, it can be an error in a middle name of the recipient or something very little. With crypto payment, these complications can be easily and totally avoided. With just your wallet address, it doesn’t how your middle name is spelt or how many middle name you got, your payment will arrive without needing any form of legal documents or oath swearing.
4. Profit To Workers: Imagine been paid 1 Ethereum as a salary when an Ethereum is worth $300. You waking up the next day only to find out that the market has gone up and 1 Ethereum is currently worth $500. How about getting an extra $200 for free?. So in a sense, paying workers with crypto will likely yield more passive profits for them(Although reverse can also be the case).
To avoid complications, fasten the process of payment, make possible passive profit for workers and reduce cost of making payments, crypto is surely a great option for payment of salaries. Well this is just an opinion and you can tell us what you think via your comment below.
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