Strike now allows citizens of El Salvador to receive their salaries in Bitcoin (BTC). While the Salvadoran government is looking into the possibility of paying salaries in cryptocurrency, a new option announced by the digital wallet allows people to automatically convert their monthly pay into Bitcoin.
Strike allows Salvadorans to receive their salaries in Bitcoin (BTC)
Strike, the Lightning Network-based cryptocurrency wallet, has announced the addition of an option called Pay Me in Bitcoin. As the name suggests, this new feature allows users to automatically convert money received from their employer into Bitcoin (BTC) without any transaction fees.
“Strike users can use their account […] to enable direct deposit to their account and set up any amount of incoming money to be converted to Bitcoin, free of charge,” Jack Mallers, founder and CEO of Strike proudly announces.
With this new feature, Strike allows anyone to “get paid and save” with Bitcoin. In detail, the wallet offers to “convert as little as $0.50 of your paycheck into Bitcoin.
This new feature is especially relevant for citizens of El Salvador, the first country to adopt Bitcoin (BTC) as legal tender. Since the beginning of September, all merchants in the country must accept the crypto-currency as payment.
To hold and exchange Bitcoin, Salvadorans are encouraged to go through Chivo Wallet, the state’s digital wallet. To develop this wallet in record time, the administration of President Nayib Bukele turned to Jack Mallers’ company.
Ultimately, this novelty should make life easier for Salvadorans who want to receive their salary, or part of it, in cryptocurrency rather than in dollars. In parallel, the government of El Salvador is considering the use of Bitcoin for salary payments. Despite the adoption of the digital currency, the U.S. dollar remains the reference currency for accounting in the country.