Paying Salaries in Bitcoin to be considered in Israel

The solution to encourage talented specialists of the technological firms with Bitcoin is presently being mulled by the authorities of Israel
14 June 2018   1367

Israel companies are generally known by high salaries, conductive working conditions and regular promotions. But all these things are not enough: nowadays the officials of the state are thinking about the encouraging perspective specialists with salaries in Bitcoin. 

The Example has been given by the company Spot.IM. The client asked the officials about a permission for paying its employees` wages in bitcoin. Such cryptocurrencies as Bitcoin are hardly regulated by the security and taxation systems in Israel. In order to overcome all the possible difficulties, Spot.IM is aimed to solve these problems by setting the airbag arrangement with the state authorities. Presently the negotiations with the Israel Securities Authorities are kept. First of all, the exchange rate is being discussed, as it is necessary to consider the volatility of Bitcoin exchange rate.

As soon as all the agreements with the agency would be reached, this issue can be transferred into the Ministry of Labour coordination. The ministers of the structure are  already concerned with the matter and are to be involved in making the decision in near future. Spot.IM is going to take on the costs of conversion. 

The specialists of the technological company Spot.IM are confident about the future of cryptocurrencies, but actually the firm is not yet involved with them. Among the customers of Spot.IM are such news services as Time Magazine, NBC, Huffington Post, Engadget, Fox News and others. Spot.IM is responsible for the social interactions and commentary on these resources. Since the establishing in 2012, the company managed to raise $38 million. In November of 2017 the firm gained $25 million, partially these earnings are owned by the Russian billionaire Roman Abramovich.

Bitifinex to Cooperate With Bitrefill

Exchange's users will be able to purchase products from the Bitrefill catalog with help of Lightning Network
05 December 2019   91

The Bitfinex cryptocurrency exchange has entered into a partnership with the service of replenishing mobile accounts and gift certificates Bitrefill.

Using Lightning Network (LN) technology, Bitfinex users will be able to purchase products from the Bitrefill catalog, which includes more than 2,000 digital gift cards and options for replenishing mobile accounts.

As soon as the user pays for the goods using Bitcoin, Bitfinex and Bitrefill automatically settle through the LN network, which makes transactions cheaper and much faster.

Bitcoin’s use as a means of payment represents an important milestone in the inevitable journey towards mass adoption. This is why the Lightning Network is so important. As an exchange, Bitfinex is at the forefront of developing solutions utilizing this technology.
 

Paolo Ardoino

CTO, Bitfinex

On December 3, Bitfinex integrated payment support through the Lightning Network.