Swan Bitcoin benefit plan helps companies reward employees in crypto
|Wilson Auto Group, Voltage, Compton Magic and Everbowl are trying to convince their workforces to embrace bitcoin through payouts of the cryptocurrency that are part of a unique benefit program created by Swan Bitcoin.
The four early adopters of Swan’s “Bitcoin Benefit Plan” for small businesses are providing monthly $50 and $100 BTC bonuses to every employee each month.
“It's like a Bitcoin education club that gets spawned at your company, and you're all kind of going down this path with this shared purpose together,” said Swan CEO Cory Klippsten in a phone interview.
Swan, which offers a suite of bitcoin-based services for companies, hopes that monthly bonuses will be a major step in spurring mainstream bitcoin adoption. Klippsten said that a good company benefit usually has a greater perceived value than its actual cost. Such plans generate enthusiasm for the cryptocurrency and help people learn about it.
Each month, up to $100 in bitcoin is directly deposited into employees’ Swan accounts. Companies who participate in the program pay Swan $2 a month per employee and take a 1% transaction fee.
Wilson Auto Group, Compton Magic, and Voltage, among others, are already receiving positive feedback from employees.
“There is a ‘Stack Sats’ culture in Bitcoin, so being able to help team members stack more satoshis is a win-win for culture and their long term savings,” Graham Krizek, the founder and CEO of bitcoin infrastructure company Voltage, told CoinDesk via email.
Wilson Auto Group CEO C.J. Wison, a Bitcoin enthusiast said he was “trying to orange pill” his employees to accept bitcoin. The Matrix reference has been adopted by bitcoin advocates to describe such acceptance.
Wilson employee Chris Williams, who has already received $100 in two payments, is among the early converts, calling the program “genius” in an interview with CoinDesk.“It's fantastic. I got a deposit this morning…I've set up my account with my own personal email and then it's gone straight into my account,” Williams said.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.