At least for New Zeland who became the first country to support the companies that are paying employees in crypto. The Tax Office announced new rules that legalize salaries in cryptocurrencies. The payments should be fixed, regular and for services performed under an legal employment contract. Companies that pay the employees in cryptocurrency should be deducting taxes under New Zealand’s Pay As You Earn scheme. The employer will deduct them and sent to the tax department. The new ruling, however, excludes self-employed taxpayers.
So who will benefit from the new tax legislation should it spread further to other countries?
Naturally, the majority of bitcoin payments go to professionals who work for blockchain technology startups. Most of them are true crypto enthusiasts and operate digital currencies daily.
Numerous blockchain and crypto jobs websites such as Crypto Jobs List feature hundreds of new vacancies daily. Blockchain companies are mostly interested in specialists who fall into these five categories:
- Developers (NodeJS, React, Redux, Golang, PHP)and Information Security
- Marketing & Community
- Tech support
- Design & Copywriting
- Sales and Business development
If you have any of the skills mentioned above you might be the next one getting a legit salary in Bitcoin.
Of course it is optional and no one would force you to accept salary payments in cryptocurrency. Every blockchain company usually offers payments in your local fiat currency as a primary option, but many employees would go for crypto regardless of volatility. Salary in cryptocurrency is versatile and enables many options. You can hold part of the crypto as long term investment, exchange to another cryptocurrency or fiat money whenever the rate profitable.
Salary payments in crypto are particularly handy for remote workers who live abroad. It allows instant cross-border payments without extra fees.
With services like Mercuryo, you will have no problem converting your BTC to USD, EUR, RUB as you cash out to the bank card (we support bank cards issued by many countries). Alternatively, you can use your Mercuryo card (coming soon) as a bitcoin salary card and pay for any of your daily purchases in crypto.
Stay updated and look forward to your next payday!