Money Makeover: Should We Get Paid In Crypto?

Imagine receiving your paycheck not in dollars, but in Bitcoin or another cryptocurrency. That's exactly what happened with Odell Beckham Jr., a famous American football player, who chose to receive his 2021 paychecks in Bitcoin! Cryptocurrency has become a popular topic, with both exciting opportunities and potential risks. Some people think getting paid in crypto could be the future of money, while others worry about how much its value can change.

On the positive side, if the value of Bitcoin goes up, then so does the worth of your paycheck! But if it drops…well, that paycheck might not be worth as much as you thought. With prices that can change by thousands of dollars in a single day, crypto payments come with big risks. If you were offered payment in Bitcoin, what would you do?

Your Task:
Imagine you are an employee at a company considering switching paychecks from U.S. dollars to cryptocurrency. Write a letter to the CEO expressing either support for or opposition to this decision. You may also provide recommendations to leadership on how to streamline the process or avoid potentially angry and confused employees! Make sure to back up your position with specific reasons, such as:

• Stability (how cryptocurrency’s fluctuating value could impact financial security).

• Accessibility (ease of spending and converting cryptocurrency into local currencies).

• Security (potential risks and protections associated with digital currency).

• Convenience (how this change could impact everyday transactions).

• Taxes (how you might be taxed differently on cryptocurrency income).

• Socioeconomic Status (how will age, race, location, and income affect this switch).