Post
Topic
Board Bitcoin Discussion
Re: The first country in the world. Officially salary in cryptocurrency!
by
avikz
on 15/08/2019, 07:36:57 UTC
Re:  The first country in the world. Officially salary in cryptocurrency!

No! Check your facts before becoming excited about anything. Japan is officially the first country to offer salaries in cryptos and that happened quite a few years back. Initially we thought it will not be a very popular option for the salaried class people. But it seems like pretty successful in Japan. For reference, you can read the below news,

https://news.bitcoin.com/japan-labor-ministry-confused-as-crypto-salaries-demand-increased/

Quote
Would you like to get paid in  cryptocurrency? Wink

It's a very old question and asked many times in this forum. I would not personally prefer to receive my salary in crypto because of undermentioned reasons,

1. Price fluctuations - My salary takes care of my EMIs. So I definitely wouldn't want to risk the value of the salary to be volatile. Salary has to be stable in terms of purchasing power. Crypto posses a major risk in this parameter.

2. Adoption rate - Crypto adoption rate in my country is really low. It will take me ages to find a merchant who is willing to accept crypto for my daily purchases.

3. Fear of hacking - In a centralized banking environment, it is possible to reverse a transaction if anything goes wrong. But absolutely not possible in a crypto environment. Once it is gone, it's gone forever!