Businesses are being compelled to take a closer look at crypto due to its continuing rise. Investment firms have begun to provide their clients exposure to cryptocurrency futures. Several well-known corporations are now paying part or all of their executive remuneration packages in cryptocurrency. AXA Insurance, Starbucks, and Microsoft are among the international companies that have begun to accept cryptocurrency payments. With the introduction of Litecoin wallets that work with crypto debit cards, the natural next step appears to be salary payments made entirely in cryptocurrencies, which New Zealand legalized way back in 2019.
When you hear “cryptocurrency,” you almost always hear the word “blockchain.” But what exactly is blockchain? Cryptocurrency transactions are underpinned by the blockchain technology (also known as Distributed Ledger Technology). All crypto transactions are automatically recorded in encrypted ledgers using a PoW (Proof of Work) method, which creates a virtual non-corruptible, globally accessible database that protects your crypto assets. All transaction-related data is broadcast across the whole network, where it is validated and verified in real-time by all participants (nodes).
Getting paid in Litecoin, stablecoins, or any other cryptocurrency, depending on the nature of your business, can be very convenient. While Litecoin will undoubtedly remain a speculative financial asset, you would be wise to recognize its potential for rapid and secure cross-border transactions. Using tools like the TRASTRA crypto salary card will go a long way toward keeping a distributed workforce afloat in the gig economy, especially since using crypto to pay salaries, remittances, honoraria, and other sorts of remuneration does not imply a complete abandonment of regular money.