Bitwage, a firm working to normalize crypto by allowing workers, freelancers, and contractors to receive their salaries in cryptocurrencies, has announced that interested parties can now receive payment in Ether, as per a blog post June 10, 2019.
Bitwage has been working to “close the loop” in the crypto lifecycle which requires first the purchase of bitcoin, then the use of bitcoin as a payment method, and finally to pay out bitcoin wages to employees and contractors.
Having since achieved that aim with their Bitcoin payroll service which now also offers tax payment support, Bitwage notes that since 2017, it has been tinkering around with Ethereum’s blockchain. At the time, they had to put together a system that allowed companies to “fund payrolls and other fiat obligations in Ether,” which has now blossomed into a fully-fledged ether payroll.
Accordingly, workers anywhere around the world can select a percentage of their wages that they wish to receive in ether. Additionally, Bitwage is offering support for companies looking “to offer tax and HR-compliant ether benefits.”
The blog post instructs:
- Sign up and get specific banking details for receiving one’s wage.
- Select the percent of funds one wants in ETH, BTC, or a local currency on Bitwage. This can also be done with one’s payroll provider.
- Add an ETH address and get paid in ETH.
, like many other cryptocurrency and blockchain firms, has been pressing the “mainstream” button for some time with minor yet notable success. Most recently, cryptocurrency exchange Coinbase its Visa Debit card which enables an absolutely seamless crypto spending option.
Initially trialed in the UK exclusively, the exchange has announced that it will be pushing the card out into Europe, capturing Spain, Germany, France, Italy, Ireland, and the Netherlands.
With other crypto-payment options emerging in tandem with services such as Bitwage, the dream of closing the cryptocurrency lifecycle loop is in clear view.
Sourced from crypto.news.
Written by Aisshwarya Tiwari on 2019-06-13 11:00:57.