Hello Friends,
A lot is happening in the crypto space. I mean to say it is not just limited to development and innovation rather a lot is happening in this space which is good for us. It is a growing space and we are still in the early phase I believe. It is anticipated that in the next few years, we are going to see much more happening in this space including trading and a lot more.
These days many organisations in different countries are considering crypto as a salary payment option. It sounds exciting for the employers and employees both and I think employees are more excited about it. I don't know how it can impact the earnings overall to be honest because I'm not that lucky enough. Even the salaries are paid in India knowing that it is not regulated but its up to the employer how they are doing it and I am sure in other countries the penetration is even higher.
Last Month Dubai court confirmed that crypto can be used for salary payments and its a valid ode payment. This time when many crypto businesses are trying to have presence in Dubai, this move can be a good one and help them pay their employees easily.
Getting paid in Crypto may not be easy from the legal aspect but I believe that it's good for the companies that are dealing in crypto and also for the employees who are working in the crypto space. This payout can happen in two forms including stablecoins and some other coins for example Bitcoin or ethereum. The value can slightly fluctuate because the market is volatile and the value that we see today might not be the same after an hour or day. This can go both ways and the value can go down or up depending upon the next market movement. It means whoever is receiving the salary in the form of crypto should be ready for it.
UAE is not the only country where crypto remittances have gained traction in recent years. Nations such as Japan, the United States and Australia, among others, have also created frameworks to facilitate crypto transactions
This is good and if I ever get the option to be paid in crypto then I'm going to be happy. I would accept this option gladly because I know this is how I can invest in crypto easily. This will make things easy because I do not need to go through the centralised exchange to invest in Crypto. Currently, I get paid in Fiat currency and if I need to invest in Crypto then first of all I need to deposit that Fiat currency in the exchange account. For that purpose, I also need to get my kyc done and then only I'll get the option to deposit Fiat and buy Crypto thereafter.
If I get paid in Crypto then I just need to go on any non-custodial wallet or many protocols where I can swap my crypto for another. If it is a stable coin then its also easy because all these leading stable coins are available on almost every protocol and also on non-custodial wallets.
This is a new trend of paying salaries in the form of Crypto but I believe that it will grow a lot. It is also not very new I would say because in a couple of countries, it is already happening but maybe some other countries are also adopting the same model. I hope it happens someday in India also and is not just limited to the Crypto companies instead with every company they have the option to choose it. This will result in mass adoption and if that happens then I don't think there will be any bottleneck to stop the mass adoption and unbelievable growth in the Bitcoin price.
Thanks for stopping by
