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Get Paid in Bitcoin With NYDIG’s Bitcoin Savings Plan

The product caters to employers seeking to attract the best talent by offering payments in bitcoin.

Leading U.S. companies can now offer their employees the option to get paid in bitcoin by opting into NYDIG’s newly launched product, Bitcoin Savings Plan. The offering is an employee benefit program through which the worker can choose what percentage of their paycheck they would like to receive in bitcoin each month, at no additional cost.

NYDIG said in a Tuesday statement that the Bitcoin Savings Plan is catered to companies that want to differentiate themselves by offering their employees the ability to get paid in bitcoin, a need the institutional bitcoin services provider discovered in a recent survey as 36% of respondents under 30 said they would be interested in allocating a portion of their pay to bitcoin.

“We know how hard it is for companies to attract top-notch talent,” said Patrick Sells, CIO of NYDIG, in a statement. “An NYDIG Bitcoin Savings Plan is an easy-to-adopt benefit that can help employers stand out from the pack while providing their employees with a critical tool for protecting their financial futures.”

Former NFL superstar Drew Brees is among the first employers to leverage the new product. NYDIG said the now-retired athlete that has the second most NFL career touchdown passes will not only offer the option to the employees of his companies but also opt into a Bitcoin Savings Plan himself to convert a portion of his compensation to bitcoin. Other companies that Brees is involved with will also make the leap, including Everbowl and StretchZone.

“The more I have immersed myself in the understanding of money, long-term value, and the history of finance, the importance of bitcoin became apparent,” Brees said in a statement. “In its 13-year history, Bitcoin has been an inclusive vehicle for wealth creation, and a Bitcoin Savings Plan is one of the easiest ways to start saving.”

NYDIG said that other companies launching a Bitcoin Savings Plan include leading digital banking solutions provider Q2, financial services companies MVB Bank and Vantage Bank, and sustainable bitcoin miner Iris Energy. NYDIG itself will also offer the benefit to all its employees.

Paycheck conversions into bitcoin held by employees as part of a Bitcoin Savings Plan will be stored in NYDIG’s custodial cold storage system. With such an arrangement, workers will be able to get exposure to the bitcoin price but will not be inserted into the Bitcoin ecosystem, being unable to achieve financial sovereignty.

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What can Crypto do for the world?

When Bitcoin was first launched in 2009, no one knew the dramatic impact cryptocurrencies would have on our world. Today, blockchain technology is used everywhere, pioneering a technological revolution across the world.

The decentralized nature of cryptocurrencies has awakened people to the potential of their powers. With no banks or intermediaries of any kind, cryptocurrencies allow people to send payments, make investments and buy certain goods and services without limits. In addition, NFT, DAO and DeFi allow self-management of property rights, operations and financial services, respectively.

In addition to technological applications, people have discovered that cryptocurrencies can be used to do good, both for the planet and for humanity as a whole. In a project called “Cardano Forest”, Veritree, a restoration group that uses blockchain to track and verify restoration projects, has planted over 1 million trees in different parts of Madagascar, Indonesia, Nepal, Kenya, Senegal and Haiti. The operation was funded by Cardano’s philanthropic holders, with some donations reaching tens of thousands of ADA tokens.

Blockchain is perfect for project tracking and verification because of its immutable and transparent nature: transparency makes publicly stored data verifiable and immutability makes that data tamper-proof. These aspects also make blockchain ideal for managing digital asset ownership, enabling efficient issuance and trading of stocks and bonds on-chain.

Bob Eco Ltd, an environmentally-focused electric vehicle company offering electric two- and three-wheel vehicles in developing countries. Bob Eco is a pioneer in the digital asset space raising funds through something he calls “ICOWA” or “ICO with Assets”. ICOs, or Initial Coin Offerings, are fundraising events during which cryptocurrency projects sell utility tokens to early investors to raise capital. In an ICOWA, digital asset tokens are sold, not utility tokens.

Bob makes a difference by supplying electric motorcycles and electric tricycles in Africa. Bob Eco offers there on a self-rental basis, which are custom built to transport passengers and deliver food, packages and products.

Bob’s also offers a real-time exchange service that allows Bob’s riders to change their motorcycle batteries for free; this saves passengers about $4.40 in fuel a day, making them nearly four times as much as traditional gas-powered motorcycle taxis. Bob motorcycles are the world’s first mass-market electric vehicles that cost less to own, maintain and operate than a fuel-powered vehicle.

As African fuel-powered motorcycle taxis emit around 5 tonnes of carbon dioxide (CO2) every year, Africa’s 100 million motorcycle taxis emit 500 million tonnes of CO2 emissions every year. Bob’s goal is to see all motorcycle taxis go electric in the next 10 years, helping passengers and the world.

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American Express Sees Cryptocurrency As An Asset Class – Says Not A Short-Term Commercial Threat

American Express (Amex) views cryptocurrency as an asset class, according to CEO Steve Squeri. He added that at this time, the company does not see cryptocurrency as an immediate or medium-term threat to its business.

American Express CEO Discusses Crypto Strategy

American Express (Amex) President and CEO Steve Squeri answered some questions about cryptocurrencies during the company’s fourth-quarter earnings call on Tuesday.

Squeri said, “When it comes to cryptocurrencies, we look at cryptocurrencies… We think across the spectrum of digital currencies. We think about cryptocurrencies. We think about stablecoins. We think of central bank digital currency [CBDC].” The CEO continued:

At this particular time, we see cryptocurrency more as an asset class.

Regarding the use of cryptocurrencies as a currency for payments, he said, “it’s kind of hard to use that way.”

The American Express executive further noted, “And when it comes to blockchain, we have investments in blockchain companies… We constantly look at blockchain and ask ‘are there use cases for us?'”

Commenting on stablecoins and non-fungible tokens (NFTs), Squeri said, “As far as stablecoins and NFTs and things like that, obviously we are partnering with the NBA and Top Shot. And we will look for ways to get involved.”

However, the CEO revealed, “We are probably not going to offer a cryptographic card.”

He also opined:

We keep an eye on the cryptocurrency if it becomes more stable. But at the moment, I don't see this as an immediate or medium-term threat to our business.
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Cryptocurrency Exchange Giant Partners With LeBron James on Web3 Education Initiative

NBA star LeBron James is partnering with exchange Crypto.com to advance Web 3.0 development through education.

In a new blog post, Crypto.com says it is partnering with the LeBron James Family Foundation (LJFF) to provide education and access to participants in the nonprofit’s I Promise program.

James says he wants to ensure that people from disadvantaged backgrounds are not left behind as new technologies transform the world at a rapid pace.

“Blockchain technology is revolutionizing our economy, sports and entertainment, the art world and the way we interact. I want to ensure that communities like where I come from are not left behind.

Crypto.com and I agree on the need to educate and support my community with the information and tools necessary for inclusion.”

The I Promise program helps public school students and their families in James’ hometown of Akron, Ohio.

Singapore-based Crypto.com says of the initiative:

“Web3 promises to deliver a fairer and more equitable Internet owned by builders, creators and users. This promise can only be realized through the active participation of diverse participants.

Through this partnership, I Promise students and families will gain a solid foundation in Web3 and the innovations behind decentralized blockchain-based applications that drive the future of many industries, from finance to media and art.”

The partnership with the four-time NBA champion is the latest in a series of major deals that Crypto.com has secured with professional sports franchises around the world in recent months.

In November, the iconic Staples Center, where James plays for the Los Angeles Lakers, was renamed the Crypto.com Arena.

Other popular franchise sponsorships include Formula 1 Racing, the UFC, the NHL’s Montreal Canadiens and two European football teams.

Crypto.com Coin (CRO), the native token of the digital asset market, is currently up 2.4% on the day and is trading at $0.41.

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The Federal Reserve may reveal a national cryptocurrency

Many analysts are working to find out why Bitcoin suddenly had such a nasty drop in price. The world’s number one digital currency by market cap has fallen below the $40,000 mark after hovering there in recent weeks, and it looks like it could be because BTC is in line to face stiff competition from the Fed. Federal.

The Federal Reserve wants to issue a new cryptocurrency

The Fed released a statement explaining that it is looking into the possibility of issuing a national central bank cryptocurrency. The Federal Reserve has made it clear that it has no plans to go ahead with issuing the currency unless it has the backing of Congress and the White House. However, he is putting the situation out in the public and asking for comments.

The Federal Reserve is now involved in a study that aims to discover the benefits of these bank-issued currencies, and according to a new report, the benefits are pretty strong. More than anything though, the situation puts the US in a rather unique position, mainly because it seemed like the country would never go down that path given how loyal and dedicated it is to the US dollar.

Until this point, it was clear that only China was willing to enter the route of issuing a national form of cryptocurrency. In 2019, the country pulled back the curtain on the digital yuan, a virtual version of fiat currency that everyone uses to shop. The currency has been through a period of severe testing and has caused some people to wonder what, or even if, other nations would do the same. It looks like the United States could be next in line.

However, while the news is interesting, it appears to have produced some unpleasant results for BTC, which is down over $2,000 after the announcement. The report detailing the study says:

The Federal Reserve does not intend to proceed with issuing a CBDC without clear support from the executive branch and Congress, ideally in the form of a specific authorization act.

What will this do to the industry?

The situation is a bit confusing, as while that route may be unavoidable for many developed countries (after all, we’ve heard for years that cryptocurrencies are the way of the future), it’s possible that many true digital currency traders don’t be. intrigued by the idea of ​​a bank issuing a national cryptocurrency as this goes against everything crypto stands for.

Digital currency was initially designed to take power away from financial institutions and give it back to the people. These assets were built to give people a little more say in their lives and financial decisions. If these currencies are suddenly issued or controlled by banks, we can expect these freedoms to begin to dissipate, and the world of cryptocurrencies could become as centralized as traditional finance.