German tech magazine t3n uses Bitcoin to pay salaries

Rage Review : German technology magazine t3n has announced that it will pay part of its employees' wages in Bitcoin. As a technology magazine, it is naturally very sensitive to new technology trends. Their in-depth understanding of blockchain and Bitcoin has led them to choose to start research in this area, showing their full affirmation of it. There are mixed reviews about Bitcoin. However, only by applying it to real cases can we finally determine its capabilities. After all, the development of any new technology must go through this process.

Translation: Nicole

German technology magazine t3n has announced that it will pay part of its employees’ salaries in Bitcoin.

This is the result of a partnership between t3n and local bitcoin startup PEY, which is developing a new payment method for US bitcoin startup Bitpay.

Since November, t3n has said it is running an experiment with a payroll service where employees receive €20 worth of bitcoin every time they receive their paycheck. From now on, employees will have to adjust the payment method based on their risk tolerance.

The experiment is mainly aimed at broadening the Bitcoin ecosystem and learning more about Bitcoin technology. The magazine wrote in a blog post:

Of course, one of the motivations for the introduction of new payment methods is the editors' interest in new technologies and their use in daily life.

t3n went on to say that it wanted to move beyond its "observer role" and wanted to participate in developing potential applications that could benefit the company's business.

The most obvious added value for t3n employees is that the company provides Bitcoin to employees as a tax-free benefit, because digital currencies are not yet legal tender in Germany.

Currently, PEY’s Bitcoin payroll service is only available in Germany, although the startup has indicated that it will look to expand the Bitcoin payroll service to more countries in the coming months.

Disclaimer: CoinDesk is an affiliate of Digital Currency Group (DCG), which has an ownership stake in BitPay.