Assets, Bitcoin

Does Coinbase Pay Employees in Bitcoin?

Since its launch in 2012, Coinbase has become one of the most popular ways to buy and sell bitcoin, ethereum, and other cryptocurrencies. In addition to being a digital currency exchange, Coinbase is also a cryptocurrency wallet provider.

As of May 2018, Coinbase had 13 million users.

One question that Coinbase users may have is whether the company pays its employees in bitcoin. The answer is yes – Coinbase does pay employees in bitcoin.

This is according to a blog post from 2015 by Coinbase co-founder and CEO Brian Armstrong.

NOTE: This is a warning to all employees of Coinbase that they should not accept payment in Bitcoin from their employer. Although Coinbase may offer to pay its employees in Bitcoin, there are several risks associated with this form of payment. Bitcoin is a highly volatile currency, and the value of it can rapidly change. Additionally, there are limited regulations governing the use of Bitcoin as a means of payment. Therefore, Coinbase employees should be aware of these risks before accepting payment in this form.

In the blog post, Armstrong said that he and co-founder Fred Ehrsam had decided to start paying themselves in bitcoin back in 2012. At the time, they were each earning $1,000 per month in salary.

They each then bought $1,000 worth of bitcoin (which was worth about $5 per coin at the time).

Over the years, as the price of bitcoin has gone up, so too has the value of their salaries paid in bitcoin. As of early 2018, with the price of bitcoin around $11,000 per coin, their monthly salaries would be worth over $20,000 each – just from their original investment of $2,000 each back in 2012.

While it’s not clear how many other companies are paying their employees in bitcoin, it does appear that Coinbase is leading the way in this area. This is likely due to the company’s focus on cryptocurrencies and its experience in handling them.

For employees who are paid in bitcoin, it provides a unique way to directly gain exposure to the cryptocurrency market.

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