Strike Launches New Feature To Allow Users Convert Salaries To Bitcoin
October 15 2021 - 07:00PM
NEWSBTC
Payments processor Strike has announced the launch of a new feature
that will allow users to convert their paychecks to bitcoin. This
feature brings workers one step closer to collecting their
paychecks in bitcoin. Instead of the employer paying out wages and
salaries in BTC, employees can take the paychecks they receive and
convert them to cryptocurrency in one easy step. Receiving
Paychecks In Bitcoin Strike is enabling users to convert all or
some of their paychecks into BTC. Instead of cashing into fiat and
then having to change back to BTC, users can directly convert to
BTC using the paycheck that they receive. The feature is known as
“Pay Me in Bitcoin” was announced on Thursday and is one of
Strike’s efforts to make BTC readily available to its users.
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Bitcoin ETF In October Strike is best known for helping El Salvador
in their journey to bitcoin adoption, but they are also a
bitcoin-focused payments processor that allows users to receive and
pay in BTC. And with the new feature, get paid in BTC with no
hassles. Strike completely bypasses the need for employers to adopt
and start paying their employees in cryptocurrencies. Instead
giving employees the power to decide if they would rather convert
their paychecks to fiat currency or cryptocurrencies. This also
means that employees are not limited by the payments options their
employers use. It doesn’t matter the company individuals work for,
they can choose to have their paychecks deposited in bitcoin. BTC
price trading above $61,300 | Source: BTCUSD on TradingView.com
Following The Lead Of Coinbase Strike’s announcement of the “Pay Me
in Bitcoin” feature comes only a few weeks after Coinbase launched
a similar feature. In the announcement post, Coinbase shared that
customers were now able to deposit their paychecks directly to
cryptocurrencies to ease their trading activities and just like
Strike, streamline the process of users converting their money to
cryptocurrencies. The feature has been welcome in the crypto space
as investors can now decide to deposit their full paycheck or a
portion of it into their cryptocurrency tradings accounts.
Customers could also choose to deposit their paychecks directly to
U.S. dollars on Coinbase, which they can then use to carry out
their trading activities on the platform. Related Reading
| Bitcoin Breaks $60,000 Ahead Of SEC ETF Approvals Similar to
Coinbase, Strike announced that the feature will initially be
available to users in the United States. Roll-outs for other
countries may be in the works but there has been no confirmation of
these. Although users can only convert their paycheck to bitcoin on
Strike, Coinbase offers users a wider variety as they can convert
their paychecks to the over 100 cryptocurrencies currently listed
on the exchange. Featured image from Inc. Magazine, chart from
TradingView.com
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