We’ve seen some incredibly high-profile instances of people looking to get their salaries paid in cryptocurrencies such as Bitcoin. Why? NFL stars and other sports stars have been some of the most high-profile people to come out in support of crypto and even ask for their payments (often sizable) to be paid into their crypto wallets.

Pay can vary depending on location and employment type. Freelancers are finding ways to accept crypto payments for invoices, for instance. Employees don’t always have the option of dealing with another currency, but some stars in particular have started getting paid in crypto.

Crypto Can Be Used in More Places Now

Years ago, cryptocurrencies like Bitcoin were largely seen as something to hold onto and were often held in accounts as a long-term prospect. People can now actually use the crypto and Bitcoin is accepted in lots of different places.

Casinos have led the way when it comes to allowing people to use cryptocurrencies. The benefits of Bitcoin meant that many slot game providers and casino brands started to provide this as a method to transfer funds to their accounts more quickly and with benefits such as lower transaction fees. People who play slots may prefer the speed of a crypto transaction, which is why so many slot sites are now focused on Bitcoin.

Bitcoin casinos also provide a higher level of transparency and anonymity when it comes to transactions. People can put money in their accounts to play slot games without providing lots of details about their bank or address and other information.

Cryptocurrencies are now being taken directly or indirectly by a lot of different merchants. Go down the street or to the mall and you may find that there are businesses that now take Bitcoin. People can quickly and easily move their digital currency to buy goods and services. Going for a meal, or to the cinema, or buying a new set of clothes can all be activities made easier and quicker with Bitcoin or other cryptocurrencies.

Convenience of Digital Wallets

Digital wallets are the way that your crypto is held and managed, and a lot of people find that these are a convenient way to provide an overview of their finances and to ensure that they keep track of money in and out. Quick transactions also make this easier. Credit cards and debit cards can be less convenient and many people end up with a lot of different ways to pay, some of them using physical cards, some using options like Apple Pay or Google Pay, others even using more “old-fashioned” ways to pay.

Digital wallet providers may also provide incentives for people. Savings give people interest, but digital wallets may provide things like cashback or other non-financial incentives and rewards when they continue to use the account.

Transparency of Digital Ledgers

A ledger is something that cryptocurrencies produce that keeps people safe by retaining a record of transactions happening using the currency. Identities aren’t directly given away via the ledger (of course) but this is a way for people to track, and know that their funds have been moved.

Banks have always given a middleman service, but who is to say that we need them? Freelancers don’t always want the hassle of dealing with a central party, which is why they may move their money to Bitcoin and go the “DeFi” route.

The adoption of Bitcoin has grown in recent years, and some industries may even find that a lot of customers want to pay in crypto. Allowing this as a way of paying invoices or at the point of sale can provide access to more customers and those who want to use Bitcoin. Crypto payment processing is another growing industry off the back of this growth in demand.

High-Profile Examples of Stars Getting Paid in Crypto

Sports stars are among those who are getting paid some (or all) of their salaries in cryptocurrencies, usually Bitcoin. It varies by location, but there are a few Golden State Warriors players taking some of their funds in Bitcoin payments.

Huge names like Odell Beckham Jr. and the NFL megastar that is Aaron Rodgers have also signed similar deals. Payments for playing as well as some endorsements might be options for getting paid in cryptocurrencies, and different players have different deals.

Conclusion

Freelancers and big stars of the acting or sporting worlds know that at some point they might need to adapt to crypto, and are simply acting ahead of the curve. People can use their crypto easily to buy items, and services, and even pay other freelancers with it, meaning the way money moves around in business could be on the brink of huge change. Many countries and industries are waking up to these benefits.