More than 20% of all dollars ever printed were created in 2020. As a result, many investors have chosen to store their wealth in Bitcoin, a truly scarce asset. But what is the best way to invest in Bitcoin? One great way is to start earning your paycheck (or a portion of it) in Bitcoin.
What if your company doesn’t give you the option to be paid in Bitcoin? No problem. There is now a way to receive your paycheck in Bitcoin, with no action needed from your employer.
How to Get Paid in Bitcoin
The best way to get your paycheck quickly into Bitcoin while minimizing fees is by using the innovative crypto-bank called LVL. LVL allows you to direct deposit your USD paycheck into an FDIC insured bank account that is linked to your LVL Bitcoin wallet. Then, with one click, you can trade your USD for Bitcoin without paying any of the high exchange fees typically seen in competing products like Coinbase. Simply set a recurring reminder for yourself each pay-day to convert your USD to BTC. Coming soon, LVL is releasing a dollar-cost averaging feature that will allow you to automate this step.
Another Option: Direct Deposit into Strike
The Bitcoin payment app Stike recently announced a new feature that will immediately convert your direct deposits into Bitcoin. Strike announced this feature in partnership with NFL player Russell Okung who famously tweeted, “Pay me in Bitcoin.”
This feature isn't available yet, but you can sign up for the waitlist here.
Cash App now supports direct deposits and Bitcoin trading. This is another great option if you are already a Cash App user, though you will pay a higher cost for Bitcoin trades than in LVL.
Bitwage is a company that enables you to have your direct deposit automatically converted into Bitcoin. The service seems to work as advertised, but I found their website overly complicated, and it has more fees than LVL.