While cryptocurrencies have been around for a decade now, it’s no denying that for most people outside the cryptosphere, both they and their underlying technology, the blockchain, remain novelties.
Many analysts agree that things will only get better for cryptocurrencies and the crypto-market. Therefore, particularly now that the market is bearish, you wouldn’t be the first person to think of some form of investment.
Help cryptos become more mainstream
It may not be the most important reason for wanting to be paid in cryptocurrencies, but you can be sure it counts. Being paid in cryptocurrency means that you are financially independent from the government because you participate in a parallel economic system outside the fiduciary sphere.
As more and more people start investing in cryptocurrencies, their traditional adoption rates will skyrocket. By being paid in crypto, you essentially participate in a crypto economy.
Spend less on fees
Due to the unique nature of cryptocurrencies, when your employer pays you in the form of cryptocurrencies, the funds go directly into your crypto wallet without paying any fees. The same is true when it comes to sending money to a recipient in another part of the world.
Typical money transfers are usually quite expensive and can even take a few days to be processed. Usually a cryptocurrency transaction takes place almost instantly (there are cases where this is not true). Another big advantage is the almost total absence of fees for making payments with cryptocurrencies.
One of the main advantages of cryptocurrencies is the fact that they can be transferred anywhere in the world almost instantly. To put it as simply as possible, cryptocurrencies do not recognize typical borders.
Since cryptocurrencies offer a high degree of transparency, they guarantee that you cannot do anything that the other cannot see. Speaking of freedom, cryptocurrencies allow you to trade anytime, be it at night, on weekends, or on holidays when banks and other financial institutions are down. Cryptocurrencies are decentralized, which means that they do not depend on any supervisory authority, but they are regulated by their users.
We have already indicated that cryptocurrencies are not subject to the normal boundaries and restrictions that their fiduciary counterparts must follow. One of the main advantages of paying in cryptocurrencies is that they are not subject to inflation. Of course, to some extent, inflation is still present in the world of cryptography (as it is necessary to entice miners).
In the case of typical banking systems, inflation rates are mostly unknown, since central banks can very well print any amount of money without requiring public acceptance. In the case of cryptocurrencies, the inflation rate is known.
An additional advantage of being paid in crypto is represented by the great divisibility of the cryptocurrency. That said, cryptocurrencies give you the ability to make thousands of transactions, regardless of their size.
Because cryptocurrencies are decentralized and use modern encryption technologies, we can assert their security. In short, if a series of generic steps are taken, it is virtually impossible for a stranger to access your wallet without knowing the complex cryptographic key.
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