Here are the
- Help cryptos become more mainstream
Receiving payments in cryptocurrencies depicts that the individual is financially independent of the government as he/she is a part of the parallel economic system outside the traditional fiat currency. In simple terms getting paid in crypto makes you participate in the crypto economy.
- Minimal fees
Thanks to the unique nature of crypto assets, when an employer pays the user in the form of crypto asset, the amount goes directly into the user’s crypto wallet without having to pay any fees. The same applies to sending money to a person residing in another part of the world. Traditional money transfers are expensive and they take much more time to process. A crypto transaction takes place instantly.
- No inflation
Crypto assets are not subjected to the normal restrictions and borders their fiat counterparts have to face. One big plus point of getting paid in crypto assets is that they are not a subject to inflation. To a minimal extent, inflation is present in the crypto world till date as it is needed for incentivizing the miners. If we talk about typical banking systems, the rates of inflation are generally not known, as central banks have the ability to print any amount of money without needing the acceptance of the general public. But in the case of crypto assets the rate of inflation is very well known.
- High security
As crypto assets are decentralized and as they make use of the new encryption technologies, it equips them with high security. On paper it is impossible for an individual to access someone’s crypto wallet without him being aware of the complex cryptographic key if the necessary measures are taken.
- More freedom
One more advantage of crypto assets is the fact that cryptos can be transferred and exchanged across the entire globe and that too almost instantly. Crypto assets are not answerable to the typical borders. Cryptocurrencies provide great transparency. If we talk about freedom, crypto assets allow the user to conduct operations at any time, round the clock even at night, on weekends, or on holidays when financial institutions and banks are closed. Crypto assets are decentralized which means that they do not have any controlling authority but they are regulated by its users.
- High divisibility
High divisibility of crypto assets is another advantage of getting paid in cryptocurrencies. Crypto assets give the users the option of executing numerous operations, regardless of their size.