New Zealand has today ruled receiving income in Bitcoin as Legal, and CoinCorner one of the UK’s leading cryptocurrency exchanges, reveals that it began paying its employees in Bitcoin earlier this year.
Staff at the company were given the option to receive part or all of their salary in cryptocurrency. Each member of staff had the choice to receive the GBP equivalent of Bitcoin, Ethereum, Litecoin or XRP (cryptocurrencies currently supported by CoinCorner) to include in their monthly pay packet.
CoinCorner reported that all employees opted to allocate a portion of their salary to Bitcoin, with one employee taking home their full salary each month in the cryptocurrency.
Danny Scott, co-founder and CEO at CoinCorner, said, “It’s our belief that Bitcoin is the future of money and our mission is to make it accessible to as many people as possible. As one of the longest-running Bitcoin exchanges in the world, we’ve already made it quick and easy for consumers to get started with cryptocurrency and we’re now focused on helping businesses to accept Bitcoin via our new service, CoinCorner Checkout.
It’s come full circle now as our team have welcomed the opportunity to have their salary paid in cryptocurrency. We hope to see this set a precedent for how other companies could manage salaries in the long-term and hope that it encourages them to try innovating by offering employees the choice to be paid in Bitcoin.”
The price of Bitcoin has seen an increase of more than 200% since the beginning of 2019.