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Crypto Enthusiasts Disappointed By Lack of Employers Willing to Pay in Bitcoin

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employers willing to pay in bitcoin

SYDNEY, 12 September 2018. – The majority of employees would be willing to receive part or all of their wages in bitcoin or other cryptocurrencies, according to ChronoBank’s survey. However, businesses typically lag in their attitudes – despite the fact that the poll highlights the advantages such a move would offer both employers and their workers.

In July 2018, HR blockchain startup ChronoBank surveyed 445 cryptocurrency enthusiasts from all over the world including the US, Australia, and Russia to learn more about this emerging financial landscape. Results of the survey revealed that 92 percent of the respondents were male, and 40 percent were aged between 25 and 34 and 75 percent are currently employed.

Survey Findings

  • 66 percent of respondents are willing to receive wages in cryptocurrencies;

  • Only 30 percent believe that companies in their country will change to paying salaries in digital assets;

  • 83 percent are willing to receive their bonus payments in cryptocurrencies;

  • Only 52 percent are ready to pay taxes on their digital revenues;

  • 57 percent of respondents are confident that payments in crypto will positively affect the economic growth of countries.

Payments in crypto

Despite the active development of the cryptocurrency and blockchain economy in 2016-18, employers are not taking advantage of these new technologies. 72 percent of respondents stated that employers never offered them to switch salary to payments in cryptocurrencies. However, 66 percent of those surveyed expected that their employers should embrace technological change and that they would be willing to receive wages in cryptocurrencies. However, an incredible 83 percent of respondents were more than happy to receive their bonus payments in cryptocurrencies.

Sergei Sergienko, CEO of Chronobank, said: “Most revealing was that 72 percent of those surveyed said they would prefer an employer who has the salary payment option in the cryptocurrency when choosing their next place of employment. These results suggest that employers need to get up to speed with crypto sooner rather than later.”

Access to quick and convenient money transfers appear to be the main advantages in paying salaries in cryptocurrencies. But this answer changed depending on the nationality of users. For example, 37.5 percent respondents in Australia think that the most significant benefit of getting paid in crypto is tax avoidance. However, the majority of respondents still believe in the growth of the value of digital assets in the future.

50 percent believe that receiving a salary in cryptocurrency would help them spend less and only 19 percent would use it to make transactions. Why? Because if they left their crypto in their wallets, there is still an expectation that the value would increase. For younger people in the 18-24 bracket, the number of holders is even higher at 60 percent.

Users are aware of the potential risks that surround cryptocurrencies, but almost half of the respondents (49 percent) are much more concerned about the price volatility of digital assets. Younger people in particular (18-24) are more concerned about being the victim of an attack by a hacker (34 percent) than price volatility (44 percent).

Conversion of cryptocurrency into fiat at receiving salary would only be carried out by every fifth respondent. At the same time, only half of those polled are ready to pay taxes on their digital revenues, and about 25 percent have not yet decided. Although 65 percent of those surveyed in the US was prepared to pay taxes, in other countries such as Russia, only 30 percent are ready. But it’s important to highlight that overall, 62.5 percent of younger people are much more willing to pay taxes on crypto globally.

Future Perspectives

Bitcoin LogoSergei Sergienko said: “Even though there are ongoing changes in the legislation of different countries in the field of cryptocurrency, audiences are still not adequately informed about the innovations. Almost half of the respondents do not have enough information on whether salary payments in cryptocurrencies in their countries are allowed.”

Only 33 percent stated that they know that the relevant transactions are permitted in their country. In the USA – 43,5 percent know it’s allowed. Meanwhile, in Russia, the most common answer that it is not allowed (48 percent) and Russians understand about that.  

Despite the readiness of the respondents to receive funds in the cryptocurrency, most of them doubt that the companies will switch to salary payments in the cryptocurrency. Only 30 percent of respondents believe that companies in their country will change to paying salaries in digital assets. Surprisingly, in the USA it’s even lower, but in Australia, people are more optimistic.  

With respect to the regions that will lead to the payment of salaries in cryptocurrencies, Japan (32 percent) is leading the way. The US (15 percent) and South Korea (15 percent) are next in line, but US respondents believe more in South Korea (25 percent) than in Japan (only 13 percent). In Russia, 47 percent believe that Japan is the complete leader in the industry.

57 percent of respondents are confident that such initiatives will positively affect the economic growth of countries. By contrast, US respondents (47 percent) are a bit more skeptical than average.

In the field of HR, the majority of respondents are confident that the blockchain will be used as a secure system for payments. About 23 percent also believe that the blockchain will not be limited to this sphere and will allow employers to verify the data of employees using this technology.

*Readers should do their own due diligence before taking any actions related to the company, product or service. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product or service mentioned in this press release.*

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Dash Donates 1,000 books to Campus BCAT

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Dash Donates

Lagos, February 24, 2020Dash, the top digital currency for payments and local adoption through ​Dash Nigeria, today announced the launch of a ‘Digital Cash Awareness Drive’ inclusive of distributing over 10,000 copies of ‘Digital is the Cash’ book across Nigeria, Ghana, Cameroon & Haiti in English and French languages.

1,000 copies will be donated to the ​Campus BCAT​, a project of ​CryptoTVplus​, to be distributed across 30 university libraries, BCAT clubs, & tertiary institutions in Nigeria.

Nathaniel Luz, Lead of Dash Nigeria, says this is in a bid to promote the knowledge and understanding of Digital Cash, in the barest non-technical terms possible to the mass of people. He said this is the third phase of the campaign with the previous two (2) producing ​Digital Cash academy​ in text and ​Pidgin English videos​.

Digital is the CashThe ​book​ tells the history of money, the global financial system and its failings, fintech applications, blockchain, and the need for digital cash. It teaches Digital Cash in an easy-to-understand way while portraying the advantages over the legacy financial system.

According to Tosin Miracy, Director of the Digital Cash Awareness Drive, the campaign is positioned to give proper awareness and education of digital currencies to the public and correct some false notions that have earlier prevailed.

“We’ll focus on regulators, financial institutions, student clubs, tertiary institutions and libraries that are accessible to the public. It’s our belief that by donating 10,000 copies worth $100,000 across 4 countries and 2 languages, we’ll increase the reception of individuals and organisations towards digital currencies”.

Miracy also stated that translation of the book into French is ongoing with plans to translate the book into Spanish other languages in order to reach more nations of the world.

Applications for free copies of ‘Digital is the Cash’ book can be made ​here​.

Disclaimer: This is a paid press release. Readers should do their own due diligence before taking any actions related to the company, product or service. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product or service mentioned in this press release.

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Blockchain Africa Conference 2020 Announces Binance as a Premier Sponsor

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Binance Sponsor

Bitcoin Events is pleased to announce Binance as Premier Sponsor of the Blockchain Africa Conference 2020

Binance, the world’s largest crypto exchange by daily trading volume, is expanding its operations in Africa and is a proud sponsor of the Blockchain Africa Conference 2020. Binance was founded by CEO Changpeng Zhao (CZ) in 2017 and is now the top global trading platform for over 100 cryptocurrencies.

At the Blockchain Africa Conference 2020, Binance will detail its expansion efforts into South Africa as well as its projects and initiatives with the Binance Charity Foundation.

“Binance is proud to be open for business in South Africa, which is one of the most exciting markets for crypto,” CZ said.

BinanceThe company’s first expansion on the African continent was in Uganda in 2018 when it opened the first fiat-crypto exchange with trading pairs with the Ugandan Shilling. Binance also partnered with a global payment technology company allowing Nigerians to purchase BTC, BUSD, BNB with Naira (NGN) with debit and credit cards.

“Binance is dedicated to increasing the freedom of money and the advancement of blockchain technology. The African continent is a major part of this mission – where millions are unbanked but remain innovative in their use of technology. The Blockchain Africa conference is leading conversations around cryptocurrency and blockchain technology in Africa and Binance is keen to communicate with key industry stakeholders and thought leaders in Africa to jointly promote technology evolution in this new era across the continent,” he added.

See You at the Blockchain Africa Conference 2020 in Johannesburg!

<< REGISTER NOW for the Blockchain Africa Conference 2020 >>

Disclaimer: This is a press release. Readers should do their own due diligence before taking any actions related to the company, product or service. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product or service mentioned in this press release.

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Terrabit Enables Web Staking for CREDIT Token Holders

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TerraBit

JOHANNESBURG, South Africa, Feb. 15, 2020 — Leading South African blockchain company Terrabit has announced the launch of web staking for its digital currency credit (CREDIT) to enable anyone with an internet connection to earn staking rewards.

TerraBit

Terrabit is a South African cryptocurrency exchange that offers fiat-to-crypto services in five African countries. The trading platform features all major coins and pays 100% of fees to users through referral. At Terrabit’s core, it offers users a decentralised digital payment solution and a hybrid PoW/PoS blockchain, CREDIT.

Terrabit provides CREDIT holders with a range of exchange options, zero transaction fees, and fast payments. Additionally, the company provides a staking platform and wallet, MiniPOS, which offers the most straightforward and rewarding CREDIT “mining” solution available on any digital device.

Now, CREDIT holders can also stake their tokens online to earn up to 100% staking reward per annum via Terrabit simple-and-easy-to-use web staking platform. This enables anyone with an internet connection to earn staking rewards when holding CREDIT.

CREDIT web staking features include:

  • Web-based CREDIT staking up to 100% per year
  • Profit is paid hourly
  • No lock-in period
  • 5 level referral
  • Easy-to-use

Daniele Marco Ronchese, founder of TerraBit and creator of CREDIT, said: “We are delighted to introduce web staking as a service to CREDIT holders as a new and convenient way to earn staking rewards.”

“Cryptocurrency staking has traditionally involved a complicated technical setup that has acted as a barrier to entry for the average investor. With our new web staking offering, we can empower all digital currency investors – big and small – to start earning staking rewards simply by holding their tokens on our secure online platform.”

To learn more about Terrabit, CREDIT and web staking, visit www.terra-bit.io.

Disclaimer: This is a paid press release. Readers should do their own due diligence before taking any actions related to the company, product or service. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product or service mentioned in this press release.

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