Requesting getting paid in cryptocurrency can be an attractive idea if you are willing to invest part of your income to generate wealth in digital currency in the long term.
It is no secret to anyone that the cryptocurrency portfolio has become a strong asset, despite the volatility with which that market can move, comparing it with the stock market.
The content on this blog post is for informational purposes only. You should not construe any such information or other material as legal, tax, investment, financial, or other advice.
Why should you get the Income from your ads in Cryptocurrencies
Investing in presales and top new coins early allows you to get the best price possible on favorable coins and earn passive income on idle crypto coins.
When someone asks to be paid in cryptocurrencies, what they have in mind is to participate in a market that allows them to make a profit as if it were a stock investment.
The value that cryptocurrencies have acquired over time has made them second in solid financial strategies. It is all about defining the plan and financial goal you have, and then deciding which cryptocurrency best suits that plan.
Some rules they follow in the stock markets even apply, such as not making an emotional decision or selling your assets during a downturn.
Of course, those who invest in cryptocurrencies are not necessarily versed in stock market practices, and we don’t mean to say that cryptocurrencies are going to displace the stock market. However, if you’re planning to invest in cryptocurrencies, we encourage you to do your research and learn the fundamentals of this technology.
Rewards of getting paid in Cryptocurrencies
Here are some rewards that you can get when requesting getting paid in cryptocurrency:
Quick payments
When getting paid in cryptocurrency, there are no waiting times for transfers, exchange rates or added costs that are normally charged in normal bank transactions.
Getting paid in cryptocurrency from Ads is relatively fast, which gives an app developer a higher level of certainty. From the moment someone receives a payment in cryptocurrencies, they will have it in their wallet the next second without any intermediation.
Avoid taxes or not
The country you work in matters for cryptocurrency tax laws, specially because some countries are more lenient than others. In Portugal, for example, the tax rate for Bitcoin is 0%.
This equation can be attractive to those who understand how cryptocurrencies are handled because not only will they be saving a part of their income, but they will also save on paying taxes.
That is not to say that, in the future, countries will not realize that a good source of tax revenue is taxing digital assets. In fact, in the United States, it is already mandatory for people to report their cryptocurrency transactions to the Internal Revenue Service. In India, the percentage of taxes that holders of digital assets must pay is 30%.
Risks of getting paid in Cryptocurrencies
The volatility
Volatility is a double-edged sword. It is known that cryptocurrencies are a very changing market, both downward and upward. Therefore, you should have this in mind when investing in the crypto market.
However, you should not lose sight of the fact that, in its beginnings, a Bitcoin had a value of one or two dollars, and those who bought it have been able to consolidate real wealth.
When an app creator requests a percentage of his income in cryptocurrency, it is certain that, over time, he is hoping that the value of that investment will increase.
Cybersecurity threats will always be present
This is not an exclusive threat to digital investments. However, they can affect them enough to cause considerable damage, administrators will take it upon themselves to detect and combat them.
As cryptocurrency investors, it is important not to fall in traps and scams such as phishing, because most of these attacks are against crypto wallet owners. But it is not necessary for the owner to be a cybersecurity expert, it’s best to get advice on which platform is more secure to store assets.
These platforms are managed by third parties that will be in charge of offering users the required security and will impose the necessary barriers to prevent them from being used to launder money, mitigating unnecessary risk exposures.
Conclusions
Currently, receiving cryptocurrency as a payment for ads is becoming more popular for developers. In order to be successful at investing in crypto, we highly recommend you consider both benefits and risks and establish a strategy that is coherent with your financial and personal goals.
Make sure you learn about regulations your country may have established for cryptocurrency, and choose a platform that is secure and trusted for this type of transactions. Knowing this can become an advantage for you as an investor.
