Being paid in cryptocurrency for work is a concept that is rapidly increasing in popularity. To the outside, the concept may be difficult to understand, but for those involved in cryptocurrency, especially when you work for a cryptocurrency based company, there are many benefits to being paid in cryptocurrency.
Binance, the worlds largest cryptocurrency exchange by volume is no exception.
90% of Binance employees are paid in BNB
In a recent Twitter post, Michael Arrington, co-founder of CrunchFund and former editor of TechCrunch, revealed that in a recent conversation with Binance’s founder and CEO Changpeng Zhao, commonly referred to as CZ, informed him that 90% of employees are paid in the exchanges native token, Binance Coin (BNB).
— Michael Arrington (@arrington) 18 August 2018
Being paid in cryptocurrency isn’t for everyone, but for those working at Binance, the option is clearly a no-brainer.
The benefits of being paid in cryptocurrency
Working for a cryptocurrency related project and receiving the native currency as payment for your work acts as an incentive for both the company and the employee.
Binance for example created the 200 Million BNB tokens for pretty much free and therefor paying employees with that rather than cash makes perfect sense, saving the company a fortune, not to mention the task of converting the cryptocurrency into fiat currency to pay employees in fiat should they choose to.
It may be a contributing factor in the fact Binance made over $500 million in profit in the first 12 months of trading.
The employees have an incentive to work hard to ensure the company will be a success because in theory, the better Binance performs as a company, the more the currency will be worth in the future.
Binance has been one of the best performing cryptocurrencies of 2018, holding its value much better than thousands of other contenders. The employees clearly believe in the potential the company has, and judging by the exchanges success, it’s easy to see why.
When employees need to cover living expenses, they can simply sell some of their Binance Coin for fiat since currently, living off cryptocurrency alone would be pretty challenging, though probably not impossible.
More Binance & BNB news
How you get paid in cryptocurrency
Find a cryptocurrency job online
You don’t have to work for Binance to get paid in cryptocurrency. Whether it’s full time work or simply freelancing your skills in exchange for cryptocurrency, there are many different options available, along with a variety of resources available to help you find crypto jobs online.
Check out Reddit – Reddit is a great site and can help you with many things in life, including finding a job that pays you in cryptocurrency. The most popular subreddit dedicated to helping users find cryptocurrency jobs is Jobs4Bitcoins. With around 20,000 subscribers and new posts daily, you’ll be sure to start earning cryptocurrency for your work in no time!
Cryptocurrency jobs directories – There are a number of jobs directories dedicated to finding crypto jobs online. Crypto.jobs and FindCryptoJobs.online are great online directories dedicated to the cryptocurrency and blockchain recruitment space. Companies log on, put up a listing detailing exactly the kind of person their looking for, then users can quickly apply for the position.
Online networking – Sites like Linkedin are brimming with companies looking for skilled individuals to help make their blockchain or cryptocurrency project a success. Telegram is the messaging app of choice for most crypto enthusiasts, and most crypto start ups have their own Telegram channels where you have direct access to the CEO in the majority of cases.
Write for crypto news sites – Sites like bitGuru for example, we pay our writers exclusively in cryptocurrency for articles they write for us. There is no shortage of news sites out there and the vast majority of them are likely to offer you cryptocurrency in exchange for your writing services. Simple send them an email along with some samples of your work. Some examples of other sites include Cointelegraph, CoinDesk & CCN.
Ask your current employer – You don’t have to work for a cryptocurrency related company in order to receive crypto as a wage. There are services such as BitWage which allow you to invoice your current employer your normal wage, then BitWage convert it and pay you in a currency of your choosing. “Invoice your USA, EU, or UK Employer or Client and Receive in Any Percentage in Almost Any Currency.”
Good luck finding a cryptocurrency job online and being paid in cryptocurrency! Go out there and get yourself noticed.