SC5 pays salaries in Bitcoin

bitcoin

We have started to provide our employees with the option to have a part of their salary paid in the peer-to-peer currency Bitcoin.

Bitcoin_euro

We are doing this just out of curiosity to try out new things. Bitcoin as such fits our vision of the world quite well. It allows for open source development, competition and innovation in the field of payments and Internet commerce. Based on cryptography, it is secure and deterministic as we require for digital services.

As a comparison, credit cards rely on few enough physical cards getting stolen or copied and the centralized organizations covering fraud for billions of dollars each year.

Our Bitcoin service provider is the Finnish exchanger Bittiraha.fi. For currency conversion we use the daily exchange rate of the payday. The euro amount to be converted into Bitcoins is deducted from the net salary (after taxes) on the employee’s paycheck, similarly as the Finnish lunch vouchers. Bitcoins are sent to the address provided by the employee.

We also welcome Bitcoin payments from our customers!

Martti Malmi

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