Work across borders? Work from home? There is a salary revolution coming and Bitwage and partners are driving it.
Most of us work hard to make our living. Salaried employees or workers are possibly the happiest on or around payday but if you work from home with your colleagues over the Internet or if you are an expat who gets paid by their company across borders, the wait for salary is longer.
Your salary may also actually cost you a hefty fee in international money transfer fee and bank charges. This is not an ideal situation for such workers but they have no solution but to bear the delays and costs attached. The cost of getting paid
The phrase “laugh all the way to the bank” is a cruel joke for those that work from home or across borders. One of the greatest problems for people employing freelancers and for the freelancing folks themselves is simply – how to move money from Point A to Point B.
The options are usually SWIFT Bank Transfer, Paypal or if you work with some rather unconventional folks, then Western Union or MoneyGram .
All of these options are expensive. Choose any of them and you will be hit by high currency conversion charges, high transfer fee that ranges anywhere between 2.5 per cent to 45 per cent (depending on the amount) and a ridiculously long wait.
Even though paypal is near instantaneous by the time you withdraw money in some countries, it can take up to 7 days! If you live paycheck to paycheck, this can be an excruciatingly long wait. Cryptocurrencies can cut costs radically
Getting paid through bank transfer, wire transfer or paypal is no longer economically viable in this day and age. That is where bitcoin , cryptocurrencies and blockchain can really come to […]
