I have a dream that you will soon be paid your monthly salary in Bitcoin…Yeah…I want to be like Martin Luther King who dreamt of an America where whites and blacks are equal. Years later, Barrack Obama became President.
Well, that is by the way. The world does not need to wait for decades for Bitcoin to become the internet’s legal tender. That time is here. Perhaps saying Bitcoin is the currency of the future is questionable. Let’s tag it the currency for now and the future!
To lend credence to this, Bitcoin is now being used by a number of eCommerce stores-Expedia, eGifter, and Shopify among others. So, it should not come as a surprise if you are paid in Bitcoin.
Payment has been made seamless with the existence of Bitcoin wallets. You just need to plug into one of the Bitcoin wallets you can find online to perform the transactions on your behalf.
How Bitcoin works
Bitcoin payments are usually paid according to the digital currency’s value at an agreed date and time. To keep the numbers simple, if the Bitcoin price was $10,000 and you opted to have $1,000 in the digital currency, they would receive 0.1 Bitcoin.
And if you decide to sell right away, you would receive the same in cash as they would have been paid (so long as they had arranged for the sale to happen in advance).
However, holding onto the cryptocurrency, be it for a day, a week or a year would see its value go up or go down. That $1,000 may end up being worth $5,000. Or potentially next to nothing. This is no problem because Bitcoin according to Bitcoin experts will not go below $5,000.
So, when you have a business and you are to be paid in Bitcoin, do not hesitate to accept. However, ensure that you do not overindulge in it up to the point that all your money is in Bitcoin.
