Using the new service, companies will be able to pay in cryptocurrency not only contractors, but also hired employees. In this case, the tax portion will be converted into US dollars and paid in accordance with tax laws.
“Previously, you could pay contractors, but when it came to hired employees, the question arose of how to fulfill your tax obligations,” Bitwage head, Jonathan Chester, said.
Note that the Paxful peering exchange platform began testing this product in November.
“Bitwage bridges the gap between bitcoin and the traditional financial system. Paxful simply sends bitcoins to the address, and our employees receive checks with federal and state taxes withheld,” Paxful controller, Hayel Abbassi, said.
Bitwage representatives notes that half of their clients are cryptocurrency-related, while the other half use the service as a solution for international transfers. According to Chester, the new product of the company should make life easier for firms with cryptocurrency reserves.
“If you work in a company that has problems with banks, the usage of cryptocurrency can be the way out,” the head of Bitwage said.
Bitwage was founded in 2014 and currently has 11 employees, some of whom receive up to 15% salary in cryptocurrencies. The monthly volume of funds passing through the company reaches $2.5 million.
Let us recall that according to the Humans survey, 29% of freelancers are interested cryptocurrency payments - they expressed a desire to receive a salary in this way. A survey of the Superjob.ru portal showed that only 6% of Russians agree to get paid in Bitcoins. Of these, only 1% of Russians want to receive full wages in cryptocurrency, the remaining 5% only agree on partial payments.
Now, let's move to the technical analysis of Bitcoin (BTC):
Over the past day, Bitcoin fell to the resistance level of $3,530. As we predicted yesterday, buyers are weak, we do not expect price growth. The question is how long the price will stay in the narrow price corridor of $3530-3611. We tend to expect further price reduction. Let's wait. The nearest resistance levels are $3,611, $3,660. The nearest support levels are $3,530, $3,510.
Technical analysis of Ethereum (ETH):
Over the past day, ethereum returned to the support level of $117. There is still no trend. The price stays in a narrow price corridor of $117-124. We tend to expect a further price reduction. The nearest resistance levels are $120, $124, $127. The nearest support levels are $117, $115.
Technical analysis of Ripple (XRP):
Over the past day, ripple tried to grow, reaching $0.3325. After that, the price again fell to the level of $0.3180. Such asset movements usually tell us that buyers are weak, and there is no reason to wait for the further local growth. The nearest resistance levels are $0.3222, $0.3285. The nearest support levels are $0.3180, $03160.
Loads of great stuff. Hope it proves helpful
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thanks for the post...
Greetings
Bob
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit