The cryptocurrency boom is reaching new heights, affecting wages in every country and in the United States. Millennials want to accept payments in cryptocurrency. This is motivated by the opinion of the mayors of Miami and New York.
Crypto trading is fairly new in the US and has been growing gradually since the second quarter of this year. This mass adoption in South America came after China banned cryptocurrency trading.
For more than a century, corporate payments have been distinguished by the fact that they are made in escrow currency. However, almost a decade after the introduction of cryptocurrencies, one can think of more attractive alternatives to paying. Crypto is part of the new financial model and crypto salaries are part of the increase.
Since Bitcoin, Dogecoin and Ethereum caught the attention of American companies, it has been decided to shift salaries to fiat and more to crypto. In this way, the company avoids taxes and offers its employees cheaper payment options. Emphasize that cryptocurrencies can generate passive profits for employees who cut tokens into their wallets.
These crypto payments are growing in popularity among real estate agents, programmers, network designers, marketing managers and other types of people in the 21st century.
Crypto wages among American athletes and politicians
While Crypto salaries are visible to both public and private employees in the United States, they can also be attributed to athletes and politicians. Many athletes have received their first payouts in cryptocurrency, although it is not specified in which token.
Politicians trying to bridge the cryptocurrency versus fiat gap include Francis Suarez, mayor of Miami and Eric Adams, mayor of New York. On the other hand, Jane Custer, the mayor of Tampa, may also accept the first crypto payments next year.
This cryptocurrency is likely to be included in Bitcoin because it is the highest capitalized cryptocurrency in the virtual market and also because it is the oldest. If so, athletes and politicians could set their annual salary above 1 BTC, which at today’s prices would be around $47,945.
So far, the SEC has not decided on cryptocurrency payroll, but it will most likely accept the operation. The United States promises to take full advantage of cryptocurrencies, and perhaps these new decentralized payments will increase their exposure to the market. These steps will come as cryptocurrencies become more widely used for payment services, real estate, and even as a trading resource.