I’ve been stacking ADA for 2 months and seem to find it easier to save and earn because I believe in the long term prospects of the Cardano roadmap, and respect ADA more than the USD. I’m now seriously looking for ways to get paid by an employer in ADA. I’m a tech marketer with 20 years experience earning $162K annually with benefits including bonuses. After taxes I get to keep approx half of that. Does anyone have experience with getting paid in crypto?
I’m sorry but if I was an employer I would not consider that even for an instant, given crypto volatility. When there’s a Cardano-based stable coin, it becomes a possibility.
The tax system would not allow a public or private company to pay an employee in crypto funds in the sense of you being a legally defined employee. You could try to work out a performance bonus that is paid in ADA or VISA prepaid card and use that to purchase crypto.
Only way around this is if you were hired as a contractor or under the table in a way that circumvents the standard tax system, like in the gig economy. My wife holds an MFA and is finishing a major art piece that she intends to sell in crypto only. She likes the idea of being one of the first generation of artists moving on to the blockchain and we are even considering creating her work into tokens on the Cardano platform so when people purchase the art they can receive the token which takes the place of a traditional certificate of authenticity in art.
So… I do not see corporation or employers willing to take any risk when it comes to legally defined employees but boy is there a freaking huge grey area you can operate in and get paid in many alternatives to USD.
I have been paid in drugs before for services rendered making a website for a legal cannabis company. They didn’t report my work and I got to smoke my pay. Peer to peer grey market payments in ADA is happening and when smart contracts come out this fall… whole new world.