Millennials, Gen Z happy to be paid salaries in crypto. But weigh the pros and cons

cnbctv18.com:

More than a third of millennials (aged between 26 and 42) and half of Gen Z (aged 25 and below) would be happy to receive 50 percent of their salaries in Bitcoin or any other crypto, according to a global poll by financial consultancy deVere Group.In another survey of 800 US employees by SoFi and Workplace Intelligence, it was revealed that 42 percent of employees would like to receive non-fungible tokens (NFTs) as performance rewards. Another recent survey of 4,000 people by Investopedia found that 28 percent of millennials are planning to rely on their cryptocurrencies to support them after retirement.JP Richardson, the CEO of Exodus, a crypto wallet platform, gets paid in Bitcoin along with his 270 employees.

American football stars like Aaron Rodgers and Odell Beckham Jr. also take at least a portion of their salaries in Bitcoin.

One of the top 10 UFC fighters, Matheus Nicolau, also signed a contract to be paid entirely in Bitcoin, which, he said, is to secure his future.“Employees want more flexibility, and they want autonomy in all aspects of their work life. Being paid in cryptocurrency is an extension of this shift,” Phillip Bauknight, chair of the Fisher Phillips Cryptocurrency and Blockchain Taskforce, said in the FOX Business report.With such big names backing Bitcoin paychecks, it’s then no surprise that millennials and Gen Z aspire the same.

With the trend picking pace, here is a look at the pros and cons before opting for cryptocurrencies as salary payments.ProsQuick paymentsCryptocurrency payments do not rely on banks or any other financial/government institution. They run on decentralised peer-to-peer systems and transactions can be realised and settled almost instantly.Tax saving, or notDepending on the