Want your paycheck in Bitcoin? Get paid with the BitPay Payroll API

bitcoin payroll api bitpay funny dude

Are you bonkers for Bitcoin? If so, then you may want to talk your employer into using the new Bitcoin Payroll API from leading digital currency payment processor BitPay, which allows businesses to pay all or a portion of workers’ salaries in the cryptocurrency.

While getting paid entirely in Bitcoin is likely a bad idea for most people – the price fluctuates too wildly, and too few businesses accept it as payment for it to be practical – this could be a good way for anyone looking for a relatively easy way to get into Bitcoin. As BitPay co-founder and CEO Tony Gallippi said in a statement, “For the longest time the hard question was ‘How do I buy bitcoin?’ Now the answer is easy: ‘Ask your employer.’”

To test out the Bitcoin Payroll API, BitPay recruited its own employees to take at least a portion of their salaries in virtual money. According to the company, 100 percent of BitPay’s 20 full-time staffers are now using the API each paycheck. In addition to ensuring that using the Payroll API delivers employees with their dues in Bitcoin, BitPay’s internal tests also solved the issue of properly paying taxes, according to Gallippi.

“Since all payroll and withholding taxes are taken out first from the employee’s gross income, bitcoins can be sent from the net pay tax-free, and the employer’s gross income reporting to the IRS remains unchanged,” Gallippi said.

As mentioned, the exchange rate for Bitcoin often takes major jumps and dives, sometimes by the minute. So $100 worth of Bitcoin one paycheck might be – almost certainly will be – completely different the next time around. If you’re optimistic about Bitcoin, that’s actually a good thing – if you’re paid 1 BTC in place of $800 from your paycheck one week, the next month that same 1 BTC might be worth twice as much. Or, you know, it could be worth $12.

Despite the volatility of digital currencies, this is definitely an interesting experiment. If you manage to convince your employer to pay you in Bitcoin, let us know how it goes, would you?

[Image via aslysun/Shutterstock]

Emerging Tech

Researchers discover a way to make 3D printing 100 times faster using light

Researchers at the University of Michigan have invented a new method of 3D printing which is up to 100 times faster than conventional 3D-printing processes. Here's how it works and why it could prove a game-changer for 3D printing.
Mobile

Turn to these apps to help you in your next hunt for a job

Looking for a job can be a stressful experience, but these days, a simple mobile app can help you to find and apply for jobs all over the country -- here are some of the best job search apps for iOS and Android.
Home Theater

Cutting the cord? Let us help you find the best service for live TV streaming

There's a long list of live TV streaming services available to help you cut the cord and replace your traditional TV subscription. Each is different in important ways, and this guide will help you find the best one for you.
Deals

Best tax software deals from TurboTax, H&R Block, and more

Do you dread doing your taxes? Luckily for you, there are plenty of tax software options available to guide you through the process. And guess what? Some of them are even on sale today! Check out deals from TurboTax, H&R Block, and…
Gaming

You're never too broke to enjoy the best free-to-play games

Believe it or not, free-to-play games have evolved into engaging, enjoyable experiences. Here are a few of our favorites that you can play right now, including Warframe and the perennially-popular League of Legends.
Emerging Tech

Why wait? Here are some CES 2019 gadgets you can buy right now

Companies come to CES to wow us with their cutting edge technology, but only a few products are slated to hit the market right away. Here is our list of the best CES 2019 tech you can buy right now.
Emerging Tech

Yamaha’s new app lets you tune your motorcycle with a smartphone

It used to be that if you wanted to tune your motorcycle’s engine and tweak its performance, you needed specialized tools and even more specialized knowledge. Yamaha’s new Power Tuner app changes that.
Emerging Tech

Drones: New rules could soon allow flights over people and at night

With commercial operators in mind, the U.S. government is looking to loosen restrictions on drone flights with a set of proposals that would allow the machines greater freedom to fly over populated areas and also at night.
Emerging Tech

Short film celebrates New Yorker’s amazing robot costumes

New York City resident Peter Kokis creates stunning robot costumes out of household trash. His designs are huge, heavy, and extremely intricate, and never fail to turn heads when he's out and about.
Emerging Tech

In a first for humankind, China is growing plants on the moon

Having recently landed a probe on the far side of the moon, China announced that it managed to grow the first plant on the moon, too. Here's why that matters for deep space travel.
Emerging Tech

Ford’s sweaty robot bottom can simulate 10 years of seat use in mere days

Ford has developed 'Robutt,' a sweaty robot bottom that's designed to simulate the effects of having a pair of human buttocks sitting on its car seats for thousands of hours. Check it out.
Emerging Tech

CES 2019 recap: All the trends, products, and gadgets you missed

CES 2019 didn’t just give us a taste of the future, it offered a five-course meal. From 8K and Micro LED televisions to smart toilets, the show delivered with all the amazing gadgetry you could ask for. Here’s a look at all the big…
Emerging Tech

Want to know which drones are flying near you? There’s an app for that

Want to know what that mysterious drone buzzing over your head is up to? A new system developed by AirMap, Google Wing, and Kittyhawk.io could soon tell you -- via a map on your phone.
Emerging Tech

A Japanese hotel fires half its robot staff for being bad at their jobs

Japan’s oddball Henn na Hotel has fired half of its 243 robot staff. The reason? Because these labor-saving machines turned out to be causing way more problems than they were solving.