Hive Backed Dollar: The Most Preferred Crypto Option For Paying Salaries.
With the world witnessing a steady rise in adoption of cryptocurrencies, there's no doubt we'd get to a level where employers would be left with no better choice than to pay their employees via crypto. I mean, it's already happening but hasn't gone mainstream due to the fact that most people aren't very well informed about crypto, most people still don't wanna get involved and popularly because of uncertainties of crypto and the fact that it is considered to be the riskiest way out there to receive your income.
Many Top figures like NFL players and notably politicians like the Miami and New York City Mayors have announced that they would prefer some or full parts of their salaries to be paid in Bitcoin. While this may seem as a great way of announcing their support for cryptocurrencies and influencing the adoption, Bitcoin however may not be the best choice for paying salaries for some reasons.
Bitcoin is currently the most popular crypto used to pay salaries and with that comes the challenge of facing market instability and uncertainties unless you plan to hold for a long time or don't care if your salary drops by 25% on your pay day. Tax calculation is also huge challenge when using cryptocurrencies like Bitcoin and here's where Hive Backed Dollar becomes a better and prefered option.
HBD seems to be a perfect option for employers for so many reasons. Firstly, employers and employees don't have to worry about market instability. Yeah, HBD's price still fluctuates abit but stays around a fixed point ($1). This would definitely be saving you from the nightmare of watching your paycheck dump on your payday. There's currently alot of work done to ensure more stability and this would solve the issue of market instability when paying salaries.
Employers don't have to worry about the calculating tax due to crazy price fluctuation, HBD is more stable and regardless of how bad the market may be, it is quite easier to calculate and pay taxes than with Bitcoin and most cryptocurrencies out there.
Finally, HBD's current 12% APR also gives employees a chance to increase their earnings while saving it unlike when saving with a bank. It is secure, and you can easily follow up and compound your interest. Most people speculate an increase in HBD's APR in the future which is a good thing , but for now, I think 12% isn't so bad.
Adoption of cryptocurrencies by employers is inevitable and I'm positive that HBD would receive the attention it deserves as a great options for receiving paychecks and for saving money in the coming years.