Post
Topic
Board Beginners & Help
Re: Bitcoin as Salary
by
NeuroticFish
on 06/07/2020, 06:46:23 UTC
My boss offered to pay my salary in bitcoin. Should I accept it or just go with cash?

It depends on many things:

1. The "valuation" will be frozen/counted in a fiat value or a Bitcoin value? I mean that if Bitcoin price doubles next month you'll get the same amount of Bitcoin or just half?
1.1 If it's in Bitcoin (unlikely) it depends on your appetite for risk (and if other people too - wife, kids - depend on that money). If Bitcoin price will always be higher than now you got a rise, else... it won't be beautiful.
1.2 If it's in fiat then see point 2.

2. It depends on how much you spend from that salary in fiat. If you spend most of it doesn't make sense to get Bitcoin only to convert back. Exchanging from Bitcoin to fiat is not for free and government may want a slice from that money too.

3. Do you think you'll need a loan (to buy house, car, ...) in the near / medium future? The banks may not care to count Bitcoin as income that matters.

4. For the amounts paid in Bitcoin will your boss pay for the pension? Else on long term your pension will end up smaller than if you'd buy your Bitcoins.


All in all I think it doesn't make sense to get the full salary in Bitcoin. Not yet. Maybe a part of it which you plan to put away as investment / HODL.