Polish Company Offers Employees Bitcoin Salaries
Work for Bitcoins. It is not an entirely new concept as there are websites offering freelance employment for payment in Bitcoins. A web design company in Poland made news when it offered its existing employees the chance to give up their salaries in fiat currency and get paid either wholly or partly in Bitcoin. And many of its staff jumped at the opportunity.
Part Or Entire Salary In Bitcoin
EL Passion, the first Polish-based business to accept Bitcoin payments, is now passing the opportunity of earning in digital currency over to employees. It was spurred on by the interest of staff members in getting paid in Bitcoin. Most of its employees were taking at least part payment in Bitcoin but EL Passion went further by opening the doors for payment of their entire salary in Bitcoin.
According to the EL Passion website:
“After much interest in the company about bitcoin and crypto-currencies in general, we’ve decided to provide our employees with the choice of having their salaries paid in bitcoin. This makes EL Passion the first company in Poland to pay salaries in bitcoin.
“Open source is a big part of our company culture, so sending bitcoins peer-to-peer is a logical step forward for us.”
EL Passion claims that its employees were very enthusiastic about wholly Bitcoin salaries. The move is in part an endeavor by the company to raise awareness about cryptocurrencies, not only among its employees but also in Poland at large. It hopes to promote the wider use of cryptocurrencies like Bitcoin in the Polish economy.
Poland Making Its Bitcoin Mark
EL Passion’s move may be exciting news for many Bitcoiners but Poland would not be the place one would expect to find the game-changers in digital currency. However, this could not be further from the truth. Polish businesses have made the news several times for its Bitcoin innovations, and failures.
One of its success stories of sorts was when a Polish dentist, Profident, started accepting payment in Bitcoin. It may not seem unique since healthcare providers elsewhere in the world were accepting payment in Bitcoin. But those who opted to do so with Profident were able to get cheaper treatment. Patients could pay for their dental work in Bitcoin and were encouraged to do so by being eligible for a 10% discount.
However, Poland has also been marred by the hacking and emptying of clients’ wallets of Bitcoin and Litecoin from its digital currency exchange, Bidextreme.pl, in November 2013. The exchange subsequently suspended its operation, although it claimed it was a temporary move until the matter was resolved.
As another Polish-based company enters the digital currency scene to increase the number of local retailers accepting Bitcoin payments, EL Passion employees may not need to convert their Bitcoin pay into hard cash. InPay which is located in Poland’s capital city of Warsaw launched a pilot program in August 2013 by providing B2B solutions for Bitcoin payments to Polish coffee houses, pubs and restaurants.
Even though many feel that the future of Bitcoin is uncertain, it has not stopped many businesses both small and large from jumping on the digital currency bandwagon. As Bitcoins payments become more widely accepted, it further serves to solidify the foundation of the digital currency revolution.