Bitwage has done it again as it announces its international service allowing individuals to receive wages in Bitcoin.
The pioneering scheme launched to further propel the usability of Bitcoin and providing a valuable service to those who want to be completely crypto dedicated. With many people attempting to live off Bitcoin, Bitwage allows the everyday citizen to experiment with Bitcoin on a big scale.
Initally starting up to allow only a handful of employees to receive their cheques in Bitcoin, the service has now opened its doors to the rest of the world allowing business and individuals to accept Bitcoin salaries anywhere in the world.
We announced at the Miami Bitcoin Conference on Sunday, January 18th, the launch of third and latest product,International Payroll for the Individual. International Payroll for the Individual allows employees to receive wages internationally in local currency, from any US employer without requiring the employer to sign up. It makes this possible without requiring the individual to possess a bank account, without requiring the employer to willfully participate.
As seen above the Bitwage project has expanded further into the eastern countries. This includes countries which have a less sophisticated financial system or where people do not have access to financial institutions. With the number of foreign workers in the US growing by the day currency has played a pivotal role in more and more lives. Whilst traditional services would charge huge fees to transfer funds between the US and the Philippines, Bitwage harnesses the power of Bitcoin to bring it at 0 cost (while the service is in the beta Phase, fees may be introduced once the service begins full time operation).
With the initial iteration of this launch comes the first transparent fiat to fiat solution to provide international payrolls and payments from the US to the Philippines by leveraging the bitcoin protocol. We have integrated with our partner exchanges in the Philippines (Coins.ph) to offer the lowest prices while providing the highest number of payout options, including Bank transfers, Cash Cards, Cash Pickup, Mobile Money, Door-to-Door delivery and, of course, Bitcoin.
As seen in the quote above the Coins.ph exchange has played a important role in bringing the Bitwage service all the way to the Philippines. The exchange will allow users of the Bitwage service to transfer funds using a variety of methods stated above and most importantly through the power of Bitcoin. The time frame in which funds are transferred are also dramatically shorter. Normal wire transfers may take up to 10 days but using Bitwage one can transfer funds in a matter of 2-3 days. More can be read on the Bitwage Blog.
To conclude this new expansion in the service will help propel the Bitcoin to new levels. Allowing hundreds of employers to pay their workers with Bitcoin, the Bitwage service has allowed users all over the world to experience the true financial freedom provided by Bitcoin. The countless lives that will be touched with the introduction of the marvel are precious each and every one. Bitwage has begun its mission not only to make sure Bitcoin gets the attention it deserves but to allow Bitcoin to be the turning point in peoples lives.
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