Insider: Tech workers paid in bitcoin are buying the dip and doubling downarchive.ph/VTCkd
186 sats \ 7 comments \ @earnbitcoin 27 Jul 2022 bitcoin
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120 sats \ 2 replies \ @sb 27 Jul 2022
It's interesting that Latin America has such high volumes in terms of payroll payments. Those who need Bitcoin the most will use it.
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25 sats \ 0 replies \ @blocktock 27 Jul 2022
Precisely. They understand the use-case having been burnt multiple times over by local currency. Especially in Argentina
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0 sats \ 0 replies \ @earnbitcoin OP 28 Jul 2022
I was surprised to see that "2/3rds are in Latin America" metric from Deel as well. Being a privately owned company they don't share their numbers to know how many workers this might reflect but their fundraising shows they must have a pretty large client base to justify a multi-billion dollar valuation.
Funny that both Deel and BitWage were Y Combinator startups.
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0 sats \ 0 replies \ @earnbitcoin OP 27 Jul 2022
The link for this post is using an archive for the article on Insider's website. An archive has no paywall, no subscription requirement, and can be easier to read. The original article, on Insider's website is:
Tech workers who chose to get paid in crypto are buying the dip and doubling down, even as crypto markets teeter. Here's why. https://www.businessinsider.com/tech-workers-get-paid-in-crypto-bitcoin-amid-market-crash-2022-7
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0 sats \ 2 replies \ @earnbitcoin OP 27 Jul 2022
In recent years, droves of tech workers have chosen to receive a portion of their salaries in bitcoin or another popular cryptocurrency. The increasing demand has given rise to a cottage industry of companies developing payroll software with crypto in mind.
Bitwage, which offers bitcoin payroll services, saw its highest transaction volumes in May and June — "despite everything that's happening," Bitwage CEO Jonathan Chester told Insider. The record sums of money flowing through its system to pay employees in cryptocurrencies signals that demand remains strong.
"The price of bitcoin drops, sometimes people ask for more payroll to be paid in bitcoin," said Merrick Theobald, vice president of marketing at BitPay, where Wright works.
Workers might prefer bitcoin to dollars for reasons other than trying to strike it rich. They may be worried about inflation or other instability in their local currency markets, Theobald said.
Deel said that workers in Latin America accounted for roughly two-thirds of crypto payments issued through its payroll service in the first six months of this year.
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25 sats \ 0 replies \ @blocktock 27 Jul 2022
Nice to see a decent article, stating the facts of people on the ground. Without fear-mongering, simply outlining outright adoption. Vamos!
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0 sats \ 0 replies \ @earnbitcoin OP 29 Jul 2022
Here's another, related, article:
Workers in volatile economies most likely to take pay in crypto: Report #51069 https://cointelegraph.com/news/workers-in-volatile-economies-most-likely-to-take-pay-in-crypto-report
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