How Do I Pay Myself From My Business in Bitcoin?

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Last year, working as a teacher, I was loving getting paid in Bitcoin every fortnight.

Having changed paths this year, I have no regular waged income, and have been missing not watching that Bitcoin in my wallet grow.  Even with price fluctuations, I was ALWAYS better off than leaving that money in the bank (would have been instantly spend in any case!)

Two reasons (and there are more) I love getting paid in Bitcoin:

  1. When I needed to pay an Australian law firm’s account late last year while travelling in Italy with my family, I simply scanned the QR code on his emailed invoice, and it landed in his business account in seconds. No international transaction fees, no time-lapse, no hassles.  Instant!
  1. When I go to buy a coffee with my debit card, half the time I’m wondering if my partner has used the money in the account for some shopping: sometimes it’s a fairly tense moment waiting for the ‘Payment Approved’ sign to come up.  On my phone wallet, however, there’s always more Bitcoin arriving since it drip-feeds into my account every payday…a serious no-brainer. So I go to cafes and bars that accept Bitcoin, and buy my coffee there!

So this year, I’ve been asking myself, can self-employed people get paid in Bitcoin? 

“It’s exactly the same as for a wage-earner.  You set up an automatic direct deposit from your business account each week and it’s done!” 

-Adam Poulton, Founder of Get Paid In Bitcoin

For those who are self-employed, this money is included in the accounts as owner’s drawings.  You virtually pay yourself a regular income and that comes in the form of Bitcoin!


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