Cryptosalaries? Salaries in cryptocurrencies
đšđ± Despite the high volatility, many employees have started to receive part of their remuneration in digital currencies. This poses a tax and practical challenge. Is it worth it?
Yes, there are people in Chile who receive âcryptosalariesâ, that is, remuneration (total or partial) in digital currencies. This is a trend that is growing especially among workers who reside in other parts of the world and who distrust certain traditional currencies, especially those that have lost value in recent years. Although experts warn that the risk is still very high - due to the high volatility of cryptoassets - it is a phenomenon that is growing in Latin America, especially in countries with a strong link to digital currencies, such as Argentina or Venezuela. But it is also a global boom: last year, various athletes and politicians made news who began receiving a "crypto" transfer at the end of the month: Golden State Warriors players Klay Thompson and Andre Iguodala, and New York Mayor Eric Adams. In Latin America, the trend is also real, especially due to the increase in international hiring, which grew 3,300% in the last year according to the company Deel, which specializes in hiring professionals abroad. In fact, according to the same firm, since November 2020 there has been a 10% monthly increase in the demand for this type of remuneration. Is it worth opting for a âcrypto salaryâ?
âThe ideal is to immediately change it to a traditional currency or keep it in digital currency. If we stay in a crypto, the best option will always be to favor stable currencies (stablecoins), which are linked to a known value such as the dollar or a fiduciary currency of a country,â says CristĂłbal Pereira, CEO of LatAmTech Finance, who recommends USDT, USDC, DAI, among others.
