Few technologies are as hot as cryptocurrencies such as Bitcoin, Litecoin, and Ethereum.
Cryptocurrencies are trading at sky-high rates.
Cryptocurrencies are showing up as assets on the balance sheets of more companies. Some businesses said they will start accepting cryptocurrencies as payment. Financial institutions are begrudgingly recognizing the technology as inevitable. And more individuals are using cryptocurrencies as an investment vehicle and a hedge against inflation.
Without a doubt, businesses, banks, and individuals are embracing this technology that uses math, rather than third-party banks, to facilitate nearly instant irrevocable transactions across the globe.
77% of millennials are interested in learning more about cryptocurrency, according to the Mastercard New Payments Index.
75% of millennials surveyed by Mastercard, said that they would use cryptocurrency if they understood the technology better.
Moving forward, cryptocurrency could represent the future of payroll.
New services are making it easier for individuals to purchase, hold and transfer cryptocurrency.
It’s being done by converting direct deposit payments into cryptocurrency.
While more employers are offering cryptocurrency conversions as a benefit to their employees, there is no need for an employer to know that an individual is having their direct deposit converted to cryptocurrency. The employer only needs to know the bank account the funds are deposited to.
More individuals are interested in converting their payments to cryptocurrency.
By converting direct deposits into Bitcoin and other cryptocurrencies, individuals can get started with cryptocurrency fast, earn interest on their money, bypass the cryptocurrency exchange process, dollar cost average into the cryptocurrency market, and automatically invest in cryptocurrencies.
Employers can use the service as an incentive for their employees without having to worry about additional fees, complicated paperwork, changes to their payroll process, or tax reporting changes.
Twitter, the City of Miami, and the National Basketball Association’s (NBA) Sacramento Kings have publicly said that they are investigating the possibility of paying employees using cryptocurrency.
All this is designed to help drive cryptocurrency growth among individuals. In fact, with some services for converting direct deposits into cryptocurrency, payees can hold or move cryptocurrency received through the service, but they cannot cash out and send the money to a bank account.
The adoption and volume of cryptocurrency has grown tremendously over the past few years. Now, new services are making it easier for individuals to convert their direct deposits into cryptocurrency.
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