The Message Is The Medium

Pay International Employees In Bitcoin

Bitwage is a new tool focused mainly on helping companies pay employees and freelancers abroad, as at BTC transaction takes only minutes to confirm compared to the incumbent’s systems, which usually requires several days (typically 5 days) to reach its destination. Also, those transactions require fees on average around 8%, compared to Bitcoin’s minuscule fees (usually only a few cents).

As Bitcoin is becoming a more “stable” currency compared to others (Bitcoin was the best performing currency worldwide in 2011, 2012, 2013 and 2015) this option is looking more and more attractive for every day. Bitwage was seed-funded last month by Orange SV, Tim Draper and others.

The disruption in this field will probably not come from the giants of today (as they are making a killing on their high fees), but from small startups like Bitwage, as the acceptance of Bitcoin as a currency is spreading.