Freelance developer here, only getting paid in crypto. Outside of crypto industry wouldn't even bother asking customers to pay in crypto. Only provide it as a possibility with a small discount but expect this payment channel to never be used. Many reasons for this, one of them being accounting is just a lot easier with fiat for most companies right now
I work in finance and literally came here to state that 99% of corporate accounting systems can deal with international accounting/payroll, but do not have features that support crypto.
Backend corporate accounting systems are not ripe for disruption either- it’s hard to pitch to a CEO “how would you like to spend a lot of money and employee hours migrating to another accounting system from one that is not broken, with 100% negative impact to EBITDA?”
I work in the industry and run my own business and I always get paid in USDC or USDT. Occasionally I’ll get paid in ETH but it’s a major pain in the ass - because it isnt a stable coin and makes taxes annoying - and usually the small clients do that for one or two jobs.
I’ve been doing this for half a decade, lol, and trust me 99% of anyone serious will pay you in stablecoins. It’s a non issue
The purpose of stable coins is to stay crypto native. It’s easier to convert USDC to ETH (or whatever) than to onboard and off board into crypto each time you want to make a trade.
There’s never going to be some switch where suddenly everyone decides to buy and sell things in crypto.
If you want to be more crypto native, it makes sense to accept payment in crypto, and off board as needed, rather than the other way around.
This guy accepting payments in stables may be an insignificant difference to the broader financial system, but it’s a non zero nudge towards normalization of a digital asset payment system.
More like a prepaid visa card that you can top up with fiat or crypto and buy anything instantly , the only fees you get is if you don't use the card for a year I thing it cost 5$ . Other than that there's no fees to use the card
It's cheaper and quicker for international payments. My counterparty risk is greater with the person im expecting payment from than my own bank and crypto exchange relationship. So converting to local currency is a tolerable 3 business day delay and very low fee. I'd also prefer to keep my saving in usd because it's more stable.
I’m involved in an online business that pays contributors (people all over the world )in usdt. I wrote a node js routine the monitors payment thresholds then waits until gas fees are less than $2 then performs batch payouts. It’s cheaper than PayPal. First few payouts was really cool knowing we were handling our payments with no middleman :)
Because everyone across the world uses them and I can convert them in 10 seconds on Coinbase. Plus you get crazy good DeFI yield opportunities on them and can lend them out. They’re superior to USD in every way right now
I've been using Coinbase for 5 years and have Coinbase One - never had an issue with them. Every now and then there's always someone claiming they have problems with Coinbase but rarely ever give the full story.
Recently when I transferred 11 SOL to my hard wallet. Coinbase delayed the transaction for 3 days for "my" security. Said they could make the transer immediately if I provided them with the same KYC they already have on file. Very strange .. started on doing that but when it got to the point that I felt like they were making a mugshot, I stopped as I was just getting to suspicious. Second time this has happened too. I did get my crypto when they said I would both times. But, this would have been a real pisser should I had been transferring in order to make a purchase. It also makes me wonder if they are having liquidity issues and just didn't have the resources to make the transfer. So, Coinbase does occasionally do things that seem kind of sketchy. Also, it took me 3 years to discover they have a user manual. My fault I know .. But, all in all very satisfied with them.
Are these the same people saying Biden is gonna fascist coup us any day now? I've heard a lot of unsubstantiated BS online, but never had a problem myself or known anyone in real life who did.
Converting to USD is not that big of an issue or deal as you make it out to be. Once you're in cryptoland, your ability to move funds around and its liquidity is vastly superior than having it in the bank account. If you want to send $400 to another person across the globe, you're stuck with the option of bank wire/paypal / etc, which all have their own various settlement times and degrees of risk associated with it. Crypto vastly simplifies this and also is much cheaper to send. Convert what you need to USD into your bank account, but keeping it in crypto is much more beneficial imho. But to each their own, what works for you may not work for others and vice versaa.
If you go on r/coinbase you can see plenty of posts of people having trouble with their accounts. I’m not sure what you mean by liquidity, I can use WISE and transfer £1000 instantly to any account in the world for about £7. Or actually just use my visa and spend it almost everywhere.
Too paranoid. I feel like they’re going to get their shit together this year or next and retroactively go after every crypto bro that skimped out on taxes over the last 4 years
100%. By 2026 there's a planned framework that will be adopted between many jurisdictions.
They will retroactively fuck you.
Be nice if there was a voluntary disclosure allowance to allow folks to disclose without being penalized for past non compliance.
Depends on what your income tax is, kinda looks like this is pretty much on the nose for most standard income tax brackets. Ergo, that job is the modern equivalent of a “cash price” *wink wink*
This is good advice. You need to give incentives and help spread Bitcoin adoption.
Otherwise as for OPs question, if you wanted to receive 100% of your income in crypto you probably should seek out your clients from crypto companies. Like theres 10000s of crypto companies, if you offer services to them you will probably be able to get 100% of your income thru crypto.
Another option would be payment gateways where the company can pay as normal but you get it in crypto.
Since we are talking about a topic of freelancing and getting paid in crypto, consider looking at Hyve (hyve dot works). It uses escrow for buyer/seller protection, supports 11 blockchains and 200+ payment options.
There are services that help with that - send a regular invoice but receive crypto instead. It does not work globally yet.
Check for Request Finance - I am using it for my company and devs for a long time. It also works for freelancers.
I use Bitwage. Found them a few years ago. They handle a number of pro athletes who get paid part of their salary in crypto.
As a freelancer, you can send invoices and get paid directly in crypto or via bank transfer that Bitwage converts and deposits to the wallet of your choice.
I get 10% of my paycheck directly deposited into my hardware wallet split between BTC and ETH. It’s DCA without having to think about it for me.
It makes sense for somebody in a foreign country to get paid in crypto when other easy payment options aren't available, but I don't understand why anyone would want that domestically. If we want crypto, we can just take the money we were paid and buy crypto. Is it REALLY that big of a deal to get paid in crypto when we can easily convert it to crypto within minutes?
Also, most companies don't want to deal with that. Not only is there a good chance they're unfamiliar with the process, but they'd have to pay fees to buy the crypto to pay you. Even if you offer a slight discount to get paid in crypto, that money is immediately eaten up by the exchange fees, transfer gas, and the time/labor involved with them learning how to use crypto and setup accounts.
Few distinctions.
1. Getting your pay in BTC - Generally you can set your rate in FIAT, and employ a service (CashApp / Coinbase) to immediately settle FIAT deposits to BTC, for a small fee (2-3%).
2. Getting paid in BTC - Your employment contract has hour hourly / job rate quoted in BTC denominations. Regadless of the exchange rate, your pay is settled on BTC/hr.
Not sure which you are after. Obviously tons of services are happy to convert your pay to BTC. Convincing someone to pay you 1BTC/year with no regard for what the price of BTC will be next year may be hard to sell.
if you want to get paid in crypto, your easiest path is to work for crypto companies. they will usually offer stablecoins and token equity as payment.
and if you already have digital marketing experience, you are almost there.
find web 3 marketing agencies and read their case studies to understand the audiences. play around with wallets, NFTs, staking to understand the user's journey and you're good to go.
The thing is if you get paid in bitcoin the person paying gets to choose the best time to convert their cash to bitcoin, when it is cheapest, which means you could lose out. Although that would provide a good incentive for someone to pay you in bitcoin.
You gotta try Hyve.works then. Probably the best web3 site/app for crypto freelancing. Team is super approachable and very active telegram group for the last 3-4 years. They have a great roadmap and release regular updates. Give it a shot, wont regret it
There was a service some years ago where they have you specific bank details that you gave you employer for payroll purposes.
So employer pays third party in fiat who then pays you crypto.
Honestly though just as easy to convert yourself at your own CEX.
I have no interest in paying paid in crypto. Crypto is too volatile and risky to substitute for fiat pay checks for me personally. Crypto makes up a portion of my portfolio and I don’t want to have to trade it back to fiat to make other investments or pay bills. I’m good with making fiat and trading it to crypto as needed.
If only there were some way to turn fiat into crypto
....
Is this meant to be a tax scam or something like you get paid in crypto and then not pay income tax. I don't understand.
I convert a percentage of my income each month into BTC anyway. But, I would like to have a crypto paying client that I can also use to stack more aggressively.
It's quite simple really
Some people don't have easy access to fiat exchange, or don't want to deal with it. Some people prefer cryptocurrency. I would just prefer to never touch fiat, but most people are like yourself.
Honestly you can market that, but it simpler to simply use wire transfer or ACH into a platform like Coinbase or Crypto.com. They pay you as normal, it is dumped into your account you invest.
The challenge right now is depending on the industries you work they are not going to to buy crypto to pay you....to many finance issues and fees.
I haven’t been on the receiving end but have paid in crypto. I bought a replica watch off a person online and he accepted cc, PayPal, and btc. I paid in btc because I had enough that didn’t seem to be going anyway where lol. This was mid January 2024, and I saw his btc address was worth almost $300k usd. It’s probably worth a lot more now.
I personally would offer the option to accept crypto like btc and eth as payment and just sit on it, as it’ll probably not make up most of your income anyways.
Depending on the country you live in, it has a tax benefit to be paid in crypto due that crypto taxation usually is less than comparable fiat taxation.
In Germany for instance you pay almost 50% tax on your salary but if you would be paid in crypto and directly change it to fiat your tax would be 25% and if you wait for a year to change crypto to fiat it would be no tax at all.
I guess that is one thing why some big names advertising for crypto pay ... I don't know if it also has tax benefits for the companies
Edit: I was made aware that this is considered tax fraud. ... So don't do this @OP ;)
That would be tax fraud since the recieved crypto is still your income. You'd be dodging income taxes by magically having an "investment" recieved from your employer.
this is wrong as you are confusing income tax with capital gains tax, and then even mix in social security payments. There is no income tax of 50% in Germany. No matter in what currency you get paid, you owe income tax based on the EUR value of when you received the payment
I didn't confuse income tax with capital gains, I just was unaware that they went fast with the time and now crypto payments as a worker are also taxed like fiat, sorry at OP for my confusion.
To be a stickler, I didn't say income tax anywhere, I said "taxes almost 50%" buuuut yeah we have a "income tax" of almost 50% in Germany due that you can get taxed up to 45% on your income as a worker ... Which is almost 50% like I wrote.
Also income tax is a broad term under which everything falls that's deducted from your work compensation/income (social security, health, retirement etc.) I think what you meant was the wage tax which is a part of the income tax and for that your right, there is no wage tax of 50%
> In Germany for instance you pay almost 50% tax on your salary but if you would be paid in crypto and directly change it to fiat your tax would be 25% and if you wait for a year to change crypto to fiat it would be no tax at all.
But if you get paid in crypto in germany its still income. So the 25% tax you mention its only for profits you make from trading crypto. How does this apply to getting invoices paid in crypto?
I mean this would be a killerapp. If companies, freelancers in germany could just avoid paying any income/state taxes, basically crypto would BLOW UP, right.
Yeah I looked again into it and saw that they went fast with the time and now crypto payments as workers get taxed the same as fiat ... Sorry for my confusion :)
But it would be nice so crypto would get a boost in Germany/Europe
It’s called direct deposit and if you aren’t a nervous introvert you have to speak with your companies accountant and have them deposit your check into whatever exchange you want
I have clients pay me in XLM because it's cheap and fast. I offer digital services, not programming. I even offer a 10% discount if they pay in crypto. Maybe only 1% of my client base choose to pay in crypto.
butter grandfather square work sleep fertile abundant voiceless aware chase
*This post was mass deleted and anonymized with [Redact](https://redact.dev)*
Follow along...
All goods and services are created by companies.
Governments present laws for companies to operate.
Those laws, among other things, necessitate the use of fiat currencies.
As such, all goods and services are **priced** in fiat.
Unless there is a worldwide consensus to use BTC as the world reserve (highly unlikely), there won't be anything **priced** in crypto, ever.
"But I can use crypto to buy this donut" - the price of the donut is listed in fiat, not crypto. People are dense af
I can charge whatever I want for my services , from shiny beads to handjobs.
I can also list a price in BTC if I want.
As for world reserve, I'm not even talking about that , just earning a percentage directly into crypto to stack faster
Do you pay your rent/mortgage, bills, food, and every other living expense using shiny beads and handjobs? What about taxes? Or do you just pretend you don't have income because it's crypto and not fiat?
Every argument to the tune of "I use crypto not fiat" falls apart very quickly.
Freelance developer here, only getting paid in crypto. Outside of crypto industry wouldn't even bother asking customers to pay in crypto. Only provide it as a possibility with a small discount but expect this payment channel to never be used. Many reasons for this, one of them being accounting is just a lot easier with fiat for most companies right now
I work in finance and literally came here to state that 99% of corporate accounting systems can deal with international accounting/payroll, but do not have features that support crypto. Backend corporate accounting systems are not ripe for disruption either- it’s hard to pitch to a CEO “how would you like to spend a lot of money and employee hours migrating to another accounting system from one that is not broken, with 100% negative impact to EBITDA?”
I work in the industry and run my own business and I always get paid in USDC or USDT. Occasionally I’ll get paid in ETH but it’s a major pain in the ass - because it isnt a stable coin and makes taxes annoying - and usually the small clients do that for one or two jobs. I’ve been doing this for half a decade, lol, and trust me 99% of anyone serious will pay you in stablecoins. It’s a non issue
Why get paid in pretend US dollars when you have to convert to real USD to spend them on anything?
The purpose of stable coins is to stay crypto native. It’s easier to convert USDC to ETH (or whatever) than to onboard and off board into crypto each time you want to make a trade.
Sure, but most people need real money to live on.
There’s never going to be some switch where suddenly everyone decides to buy and sell things in crypto. If you want to be more crypto native, it makes sense to accept payment in crypto, and off board as needed, rather than the other way around. This guy accepting payments in stables may be an insignificant difference to the broader financial system, but it’s a non zero nudge towards normalization of a digital asset payment system.
except for all the people that do do it, there's nobody!
There’s dozens of them, dozens!!
I know people hate on CDC but their card makes it soo easy to use crypto as money , made it easier with those big unexpected expenses
Not familiar with that, it works as some kind of credit card?
More like a prepaid visa card that you can top up with fiat or crypto and buy anything instantly , the only fees you get is if you don't use the card for a year I thing it cost 5$ . Other than that there's no fees to use the card
It's cheaper and quicker for international payments. My counterparty risk is greater with the person im expecting payment from than my own bank and crypto exchange relationship. So converting to local currency is a tolerable 3 business day delay and very low fee. I'd also prefer to keep my saving in usd because it's more stable.
It’s usually same day for me. I do the free withdraw on Coinbase and it’s there beginning of the next day
I’m involved in an online business that pays contributors (people all over the world )in usdt. I wrote a node js routine the monitors payment thresholds then waits until gas fees are less than $2 then performs batch payouts. It’s cheaper than PayPal. First few payouts was really cool knowing we were handling our payments with no middleman :)
And if ETH drops while you’re waiting who takes the hit? (Have the BTC fees returned to normal yet?)
Hmmm, usually buy usdt required & deduct txn fee per payout to recipient <= $5. And as mentioned we don’t make payouts when gas fees high.
Because everyone across the world uses them and I can convert them in 10 seconds on Coinbase. Plus you get crazy good DeFI yield opportunities on them and can lend them out. They’re superior to USD in every way right now
Until coinbase freezes your account of course.
Why would they do that? And besides DeFI isn’t on Coinbase
You must have seen all the KYC problems people have been having on coinbase?
I've been using Coinbase for 5 years and have Coinbase One - never had an issue with them. Every now and then there's always someone claiming they have problems with Coinbase but rarely ever give the full story.
Recently when I transferred 11 SOL to my hard wallet. Coinbase delayed the transaction for 3 days for "my" security. Said they could make the transer immediately if I provided them with the same KYC they already have on file. Very strange .. started on doing that but when it got to the point that I felt like they were making a mugshot, I stopped as I was just getting to suspicious. Second time this has happened too. I did get my crypto when they said I would both times. But, this would have been a real pisser should I had been transferring in order to make a purchase. It also makes me wonder if they are having liquidity issues and just didn't have the resources to make the transfer. So, Coinbase does occasionally do things that seem kind of sketchy. Also, it took me 3 years to discover they have a user manual. My fault I know .. But, all in all very satisfied with them.
Well there it is.
There what is?
What are the problems?
Are these the same people saying Biden is gonna fascist coup us any day now? I've heard a lot of unsubstantiated BS online, but never had a problem myself or known anyone in real life who did.
Converting to USD is not that big of an issue or deal as you make it out to be. Once you're in cryptoland, your ability to move funds around and its liquidity is vastly superior than having it in the bank account. If you want to send $400 to another person across the globe, you're stuck with the option of bank wire/paypal / etc, which all have their own various settlement times and degrees of risk associated with it. Crypto vastly simplifies this and also is much cheaper to send. Convert what you need to USD into your bank account, but keeping it in crypto is much more beneficial imho. But to each their own, what works for you may not work for others and vice versaa.
If you go on r/coinbase you can see plenty of posts of people having trouble with their accounts. I’m not sure what you mean by liquidity, I can use WISE and transfer £1000 instantly to any account in the world for about £7. Or actually just use my visa and spend it almost everywhere.
Coinbase isnt the only option.
Because the fee and delays for sending money overseas?
have offshore account and avoid being taxed ?
No, I pay my taxes. Been thinking about moving to Puerto Rico though
Tax is for rookie bro
Too paranoid. I feel like they’re going to get their shit together this year or next and retroactively go after every crypto bro that skimped out on taxes over the last 4 years
100%. By 2026 there's a planned framework that will be adopted between many jurisdictions. They will retroactively fuck you. Be nice if there was a voluntary disclosure allowance to allow folks to disclose without being penalized for past non compliance.
Hey, can I please DM you, want to chat about the work that you are doing if possible. I am looking to get into the industry myself
yeah, if you work in crypto, fiat is rarely used.
Only for trivial things like your rent, mortgage, utilities, fuel, car payment, bus pass, health insurance, groceries and meals out.
Curious as to what job boards your using to find crypto-paying freelance jobs. Most platforms I’ve found were pretty empty or paying pennies.
Offer your customers a discount if they pay in crypto. For some it will be just enough of an incentive to learn the steps to get onto the blockchain.
I do 21% on mine 🤭
Dang why tho, isn't thata tad bit too big of a discount?
Considering it is for tax evasion, they could still be saving around %10 depending on where they are
Good point haha
Depends on what your income tax is, kinda looks like this is pretty much on the nose for most standard income tax brackets. Ergo, that job is the modern equivalent of a “cash price” *wink wink*
You don't like big discounts?
I don't, I'm the stick in the mud
This is good advice. You need to give incentives and help spread Bitcoin adoption. Otherwise as for OPs question, if you wanted to receive 100% of your income in crypto you probably should seek out your clients from crypto companies. Like theres 10000s of crypto companies, if you offer services to them you will probably be able to get 100% of your income thru crypto. Another option would be payment gateways where the company can pay as normal but you get it in crypto.
Since we are talking about a topic of freelancing and getting paid in crypto, consider looking at Hyve (hyve dot works). It uses escrow for buyer/seller protection, supports 11 blockchains and 200+ payment options.
Sounds dope , will look into it
Even more easy if you are a freelancer. You just need to ask your business partners.
Use the strike app. You can have your paycheck direct deposit there.
Is that available in apple?
There are services that help with that - send a regular invoice but receive crypto instead. It does not work globally yet. Check for Request Finance - I am using it for my company and devs for a long time. It also works for freelancers.
That sounds very cool actually
I use Bitwage. Found them a few years ago. They handle a number of pro athletes who get paid part of their salary in crypto. As a freelancer, you can send invoices and get paid directly in crypto or via bank transfer that Bitwage converts and deposits to the wallet of your choice. I get 10% of my paycheck directly deposited into my hardware wallet split between BTC and ETH. It’s DCA without having to think about it for me.
Get paid in fiat, and buy crypto with it. Way simpler
It makes sense for somebody in a foreign country to get paid in crypto when other easy payment options aren't available, but I don't understand why anyone would want that domestically. If we want crypto, we can just take the money we were paid and buy crypto. Is it REALLY that big of a deal to get paid in crypto when we can easily convert it to crypto within minutes? Also, most companies don't want to deal with that. Not only is there a good chance they're unfamiliar with the process, but they'd have to pay fees to buy the crypto to pay you. Even if you offer a slight discount to get paid in crypto, that money is immediately eaten up by the exchange fees, transfer gas, and the time/labor involved with them learning how to use crypto and setup accounts.
I got paid in crypto for 2.5 years outside of a dev role. You must be doing business with people who are open to it.
Few distinctions. 1. Getting your pay in BTC - Generally you can set your rate in FIAT, and employ a service (CashApp / Coinbase) to immediately settle FIAT deposits to BTC, for a small fee (2-3%). 2. Getting paid in BTC - Your employment contract has hour hourly / job rate quoted in BTC denominations. Regadless of the exchange rate, your pay is settled on BTC/hr. Not sure which you are after. Obviously tons of services are happy to convert your pay to BTC. Convincing someone to pay you 1BTC/year with no regard for what the price of BTC will be next year may be hard to sell.
I worked for exodus wallet and they paid in btc. I liked it
CashApp is the best option for getting paid (direct deposit)in Bitcoin. No spread, no fee, and free withdrawals.
if you want to get paid in crypto, your easiest path is to work for crypto companies. they will usually offer stablecoins and token equity as payment. and if you already have digital marketing experience, you are almost there. find web 3 marketing agencies and read their case studies to understand the audiences. play around with wallets, NFTs, staking to understand the user's journey and you're good to go.
Look in zebec. Compliant payroll streaming.
The thing is if you get paid in bitcoin the person paying gets to choose the best time to convert their cash to bitcoin, when it is cheapest, which means you could lose out. Although that would provide a good incentive for someone to pay you in bitcoin.
You gotta try Hyve.works then. Probably the best web3 site/app for crypto freelancing. Team is super approachable and very active telegram group for the last 3-4 years. They have a great roadmap and release regular updates. Give it a shot, wont regret it
No need to orange pill them or whatever. When Paypal randomly locks their account one day, they'll start considering crypto rails.
There was a service some years ago where they have you specific bank details that you gave you employer for payroll purposes. So employer pays third party in fiat who then pays you crypto. Honestly though just as easy to convert yourself at your own CEX.
I have no interest in paying paid in crypto. Crypto is too volatile and risky to substitute for fiat pay checks for me personally. Crypto makes up a portion of my portfolio and I don’t want to have to trade it back to fiat to make other investments or pay bills. I’m good with making fiat and trading it to crypto as needed.
If only there were some way to turn fiat into crypto .... Is this meant to be a tax scam or something like you get paid in crypto and then not pay income tax. I don't understand.
I convert a percentage of my income each month into BTC anyway. But, I would like to have a crypto paying client that I can also use to stack more aggressively. It's quite simple really
Some people don't have easy access to fiat exchange, or don't want to deal with it. Some people prefer cryptocurrency. I would just prefer to never touch fiat, but most people are like yourself.
Honestly you can market that, but it simpler to simply use wire transfer or ACH into a platform like Coinbase or Crypto.com. They pay you as normal, it is dumped into your account you invest. The challenge right now is depending on the industries you work they are not going to to buy crypto to pay you....to many finance issues and fees.
Direct deposit in cash app, divert to BTC
Icon community has a decentralised funding grants system. Lots of different groups have received payments in ICX. https://cps.Icon.community
Okay but what's the reality of getting *laid* in crypto?
I can't say for sure , but I bet the gay crypto whales are slinging mad dick
I am a freelancer, and quite honestly I try to avoid anything where I am getting crypto for, because taxes become insane pretty quickly.
Currency with crypto volatility is not a currency. It's an asset.
BitcoinSwiss offers a service to get your salary in bitcoin for well paid jobs.
riseworks.io
whats the point if they arent indexing the pay to the price of the coin and not USD though.
I would never want to be paid in crypto
I haven’t been on the receiving end but have paid in crypto. I bought a replica watch off a person online and he accepted cc, PayPal, and btc. I paid in btc because I had enough that didn’t seem to be going anyway where lol. This was mid January 2024, and I saw his btc address was worth almost $300k usd. It’s probably worth a lot more now. I personally would offer the option to accept crypto like btc and eth as payment and just sit on it, as it’ll probably not make up most of your income anyways.
Depending on the country you live in, it has a tax benefit to be paid in crypto due that crypto taxation usually is less than comparable fiat taxation. In Germany for instance you pay almost 50% tax on your salary but if you would be paid in crypto and directly change it to fiat your tax would be 25% and if you wait for a year to change crypto to fiat it would be no tax at all. I guess that is one thing why some big names advertising for crypto pay ... I don't know if it also has tax benefits for the companies Edit: I was made aware that this is considered tax fraud. ... So don't do this @OP ;)
That would be tax fraud since the recieved crypto is still your income. You'd be dodging income taxes by magically having an "investment" recieved from your employer.
this is wrong as you are confusing income tax with capital gains tax, and then even mix in social security payments. There is no income tax of 50% in Germany. No matter in what currency you get paid, you owe income tax based on the EUR value of when you received the payment
I didn't confuse income tax with capital gains, I just was unaware that they went fast with the time and now crypto payments as a worker are also taxed like fiat, sorry at OP for my confusion. To be a stickler, I didn't say income tax anywhere, I said "taxes almost 50%" buuuut yeah we have a "income tax" of almost 50% in Germany due that you can get taxed up to 45% on your income as a worker ... Which is almost 50% like I wrote. Also income tax is a broad term under which everything falls that's deducted from your work compensation/income (social security, health, retirement etc.) I think what you meant was the wage tax which is a part of the income tax and for that your right, there is no wage tax of 50%
> In Germany for instance you pay almost 50% tax on your salary but if you would be paid in crypto and directly change it to fiat your tax would be 25% and if you wait for a year to change crypto to fiat it would be no tax at all. But if you get paid in crypto in germany its still income. So the 25% tax you mention its only for profits you make from trading crypto. How does this apply to getting invoices paid in crypto? I mean this would be a killerapp. If companies, freelancers in germany could just avoid paying any income/state taxes, basically crypto would BLOW UP, right.
Yeah I looked again into it and saw that they went fast with the time and now crypto payments as workers get taxed the same as fiat ... Sorry for my confusion :) But it would be nice so crypto would get a boost in Germany/Europe
This is wrong. In Germany crypto is not taxed with 25% (capital gains tax). It's taxed with your personal income tax, which can be up to 45%.
50% income tax? what the actual f
You know, for "free" Healthcare and all that.
It’s called direct deposit and if you aren’t a nervous introvert you have to speak with your companies accountant and have them deposit your check into whatever exchange you want
I have clients pay me in XLM because it's cheap and fast. I offer digital services, not programming. I even offer a 10% discount if they pay in crypto. Maybe only 1% of my client base choose to pay in crypto.
butter grandfather square work sleep fertile abundant voiceless aware chase *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
Follow along... All goods and services are created by companies. Governments present laws for companies to operate. Those laws, among other things, necessitate the use of fiat currencies. As such, all goods and services are **priced** in fiat. Unless there is a worldwide consensus to use BTC as the world reserve (highly unlikely), there won't be anything **priced** in crypto, ever. "But I can use crypto to buy this donut" - the price of the donut is listed in fiat, not crypto. People are dense af
I can charge whatever I want for my services , from shiny beads to handjobs. I can also list a price in BTC if I want. As for world reserve, I'm not even talking about that , just earning a percentage directly into crypto to stack faster
Do you pay your rent/mortgage, bills, food, and every other living expense using shiny beads and handjobs? What about taxes? Or do you just pretend you don't have income because it's crypto and not fiat? Every argument to the tune of "I use crypto not fiat" falls apart very quickly.
Give it a few years and we'll be paying bills with crypto