Categories: CryptoNews

PEY Brings BitPay Bitcoin Payroll To Germany

Using Bitcoin for any financial reason ranging from payments to payroll and everything in between is the primary goal right now. Displaying more use cases for this alternative form of finance is an excellent way to inform people about why Bitcoin matters, and how it can change their everyday lives. BitPay partnered with PEY to introduce a Bitcoin payroll system to German consumers and businesses.

Also read: Code Valley introduces platform to allow developers to easily earn bitcoin

The Power of a Bitcoin Payroll In The World Today

It is not the first time

BitPay and PEY come together to bring digital currency-based services to Germany, as both companies collaborated last year to bring Bitcoin payments to German merchants. Due to the success of this offering, PEY decided it was time to reach out to BitPay once again and experiment with using digital currency for payroll purposes.

Rolling out a Bitcoin payroll is not going to happen overnight, although PEY has announced they will start with t3n, a major German technology publication. Employees working at t3n can opt to have their wages paid out in Bitcoin, and obtain a tax-free benefit of up to 44 EUR when doing so. It should not tot take too long until the results of this experiment become visible, as there is an overlap between the tech crowd and Bitcoin enthusiasts.

Assuming this new collaboration between PEY and BitPay becomes a success, the plan is to expand this the Bitcoin payroll service to other countries around the world. Especially freelancers can reap the benefits of this approach, as digital currency is not subject to additional taxation in the EU, allowing them to retain more of their wage in the long run.

Related Post

Moreover, there is another benefit to working with a Bitcoin payroll as an employee, as digital currency earnings can be spent on various platforms and retailers, all of which use the PEY payment infrastructure. All in all, it looks like the Bitcoin ecosystem is slowly coming together in Germany.

It is well worth nothing PEY is one of the largest companies in Europe to start working with the Bitcoin payroll API launched by BitPay two years ago. Other companies using this service include

Zuman in the United States, and OPSkins, a Canadian gaming market place. Both of these platforms are seeing a great rate of success since introducing the Bitcoin payroll option.

Source: BitPay Blog

Images credit 1,2

If you liked this article follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

Share
Published by
JP Buntinx

Recent Posts

WIF Set to Overtake BONK? Lunex Soars with 100x Potential in Altcoin Season

As altcoin season heats up, all eyes are on the rising stars—especially Lunex, which is…

4 hours ago

Binance Coin Price Dips: BNB Holders Rush To Lunex Presale To Hedge Their Long Positions

While the broader market witnessed a notable upward movement, Binance Coin (BNB) experienced a decline…

4 hours ago

Crypto Stalwarts Forecasted 800% Growth in Innovative Projects: VeChain, Rollblock and Polkadot!

This blazing crypto bull run has investors looking for the next top altcoins set to…

4 hours ago

Dogecoin Price Set To Recreate 36,000% Rally From 2021 After Pennant Formation

The Dogecoin price is back in the limelight, captivating the crypto world with its recent…

4 hours ago

Is XRP About to Explode? How Trump’s Victory Is Affecting XRP Price Amidst JetBolt Growth

Ripple’s XRP showed a 68% price increase in the last 7 days following Trump's victory,…

5 hours ago

Ethereum Down While Bitcoin, Solana, and JetBolt Skyrocket In End November 2024

Ethereum stumbles as Bitcoin surges past $97K, Solana eyes new highs, and JetBolt’s presale shakes…

7 hours ago