Feeds

Two websites you should show your boss if you want to be paid in Bitcoin

Now if only your landlord, tax man and just about everyone else accepted BTC

Gartner critical capabilities for enterprise endpoint backup

Bosses being nagged by savvy staff to write out paychecks in Bitcoins now have a choice of BTC-friendly payroll systems.

Atlanta-based US biz BitPay is the latest firm to announce an online service for paying employees in the digital money: it unveiled its BTC payroll tech yesterday as a beta for employers and payroll outsourcers.

Each worker just has to provide a Bitcoin receiving address, and adjust how much of their pay packet should be paid into their Bitcoin wallet. Dollars are converted into the cryptography-based currency on payday using a weighted average price calculated by BitPay every 24 hours.

And, of course, Bitpay's CEO Tony Gallippi and three other employees draw their entire salaries in BTC. The company isn't the only outfit to offer such a service, though – Canadian startup Wagepoint claims it was the first by launching support for BTC in November.

Bitpay's beta payroll system emerged in public just days after web department store Overstock started accepting in Bitcoins from customers. And banks in Asia are experimenting with Bitcoin-spewing ATM machines.

Governments, meanwhile, are still pondering how best to regulate the digital money and its many copycats. China has decided to nix the use of Bitcoin altogether, banning any use of the e-cash in financial transactions.

BitPay marketing veep Stephanie Wargo told The Reg that her company wanted to offer an easy and affordable way for employees to dip their toes into the Bitcoin market. While folks should be aware of the risks of BTC, BitPay believes that converting small slices of regular paychecks is a safer way to accrue the fledgling currency.

"It is an easier way to get Bitcoin than going through an exchange," Wargo claimed. "If someone wanted to do, say, 25 bucks a month, it is a nice way to step in." ®

The essential guide to IT transformation

More from The Register

next story
Assange™: Hey world, I'M STILL HERE, ignore that Snowden guy
Press conference: ME ME ME ME ME ME ME (cont'd pg 94)
Premier League wants to PURGE ALL FOOTIE GIFs from social media
Not paying Murdoch? You're gonna get a right LEGALLING - thanks to automated software
Caught red-handed: UK cops, PCSOs, specials behaving badly… on social media
No Mr Fuzz, don't ask a crime victim to be your pal on Facebook
Ballmer quits Microsoft board to spend more time with his b-balls
From Clippy to Clippers: Hi, I see you're running an NBA team now ...
Online tat bazaar eBay coughs to YET ANOTHER outage
Web-based flea market struck dumb by size and scale of fail
Kate Bush: Don't make me HAVE CONTACT with your iPHONE
Can't face sea of wobbling fondle implements. What happened to lighters, eh?
Amazon takes swipe at PayPal, Square with card reader for mobes
Etailer plans to undercut rivals with low transaction fee offer
Call of Duty daddy considers launching own movie studio
Activision Blizzard might like quality control of a CoD film
prev story

Whitepapers

5 things you didn’t know about cloud backup
IT departments are embracing cloud backup, but there’s a lot you need to know before choosing a service provider. Learn all the critical things you need to know.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.
Rethinking backup and recovery in the modern data center
Combining intelligence, operational analytics, and automation to enable efficient, data-driven IT organizations using the HP ABR approach.
Next gen security for virtualised datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.