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NYDIG Launches Service for Workers to Get Paid in Bitcoin
With its Bitcoin Savings Plan, NYDIG joins Coinbase and Strike with a service allowing employees to auto-convert some or all of their paychecks into bitcoin.
Updated May 11, 2023, 7:10 p.m. Published Feb 1, 2022, 2:34 p.m.
Institutional bitcoin broker NYDIG has launched an employee benefit program allowing workers of participating companies to convert a percentage of each paycheck into bitcoin.
- Employees that are enrolled in the Bitcoin Savings Plan can choose what percentage of their pay they would like to auto-convert to bitcoin, and the crypto is then held in NYDIG’s cold-storage system with no transaction or storage fees.
- Crypto exchanges Strike and Coinbase launched similar platforms last year, but those did not require an employer to sign up in order for a worker to take advantage. NYDIG’s Bitcoin Savings Plan, on the other hand, requires employer participation.
- Among the roster of companies offering the service to their employees at launch are Tilman Fertitta’s Houston Rockets and Landry’s restaurants, MVB Bank, bitcoin miner Iris Energy and crypto data company The Tie.
Read more: Institutional Bitcoin Broker NYDIG Valued at $7B in Whopping $1B Funding Round
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