Initially sceptical, now I'd rather be paid for work with cryptocurrency

This is going to sound crazy to some, but find out why I would rather work for cryptocurrency.

A Bit About Me

I have been a digital marketing professional for nearly 10 years and I have helped improve the digital presence for a large number business across the world.  I have worked for large PLC businesses and was previously responsible for the digital marketing strategy for one of the largest automotive retailers in the UK.

Although I have a day job as a Digital Marketing Manager, during my free time I also offer consultancy services to a number digital agencies.  I do this partly to supplement my income and because I absolutely love what I do as a job. It's also great getting experience in multiple industries.

How I Discovered Crypto

Many years ago, I was helping to train an intern that wanted to gain more experience in digital marketing.  He mentioned that he had invested in a new currency known as Bitcoin.  Although I was extremely sceptical, I was intrigued but as the coin was sitting at around $50 I stupidly thought that it probably wouldn’t go any higher. How wrong could I have been..

After some additional research, I discovered that there was a growing demand for Bitcoin and I thought it would be an excellent PR opportunity for the company that I worked for if we accepted it as a method of payment.  No major business in the UK had yet taken advantage of this opportunity. However, after much debate, it was decided by someone far more senior than me that it may be detrimental to the business to announce that we accepted Bitcoin.

Fast-forward a few of years and I saw the value of Bitcoin start to increase massively.  At which point, I decided that I wanted to invest but it just seemed extremely difficult to get money into the whole ecosystem and I quickly gave up.  Shortly after I was approached with an opportunity to do some digital marketing in return for a brand new cryptocurrency.

First Time Earning Cryptocurrency

I won’t go into too much detail about the campaign, but as the currency was just about to launch, they needed some help getting noticed online. I spent a few days helping to promote the coin, and as they were satisfied with the results, they awarded me some free coins.

Although the coins were worth absolutely nothing at that point, I was extremely happy to get my hands on some free crypto.  The dream was that one day I could use the money earned from it to pay for a nice holiday for myself and my partner.

Eventually, the coin gained some traction and I felt a great deal of satisfaction seeing the price of it increase but the real value for me was being involved in a revolutionary new technology at an early stage.

A New Hobby Emerged

After seeing my initial holdings grow, and noticing that crypto trading was becoming more and more mainstream, I thought it was time to get involved in trading.

My job in digital marketing involves working with data, spotting trends and figuring out where to invest time and money into marketing efforts, investing feels very similar and I think a lot of the skills are transferable. Although I don't have masses of wealth hidden away in cryptocurrency, I am happy with my success so far and equally happy with the experience of learning more about online trading.

I've noticed that there is increasing number of SEO professionals getting involved in crypto and I believe we will see a huge influx of people that work in related disciplines such as PPC soon. I think some of the same things that attract people to search engine marketing attract people to cryptocurrency trading. After that, as buying becomes easier, everyone will be doing it.

With any form of investment, especially when it involves cryptocurrency, there is a HUGE risk that my portfolio could decrease in value.  I am willing to accept this risk as trading is something that I enjoy doing.

Technological Revolution

I believe we are going through a technological revolution, there are so many businesses using Blockchain technology in an innovative way and I want to be a part of that. This is another reason that I am becoming involved in cryptocurrency.

Take a business like Dropbox for example.  Dropbox allows you to store your files 'in the cloud' which is really just a collection of servers.  Anyone with access to those servers could theoretically look at all of your data. Using a decentralised solution such as Sia that splits, encrypts and distributes your files across a decentralised network. Ironically, even though your data is spread across more computers, it as far more secure as no single entity has access to your files.  To me, this is far closer to what I would call cloud stage. This is just one example of how businesses are finding innovative ways to use blockchain technology.

The reason the Sia concept works is because they allow you to take advantage of all the unused hard drive space sitting on its user's computers across the world.  The people storing the data are reward with Siacoins which can then be traded and the people using the Sia receive a service that is arguably more secure and less costly compared to more mainstream solutions.

There is also a fantastic sense of community surrounding this technology.  The Vertcoin community is a fantastic example of this. Vertcoin(VTC) is a decentralised currency owned by its users and has just raised over 10,000 VTC, the equivalent of around $50,000 in just over a month to put towards the development fund for the betterment of the project.

I have always been a fan of emerging technologies, when I was at school I was one of the few people that had access to the internet from home.  I was once ridiculed by a teacher for suggesting that one day just about every single business in existence will benefit from having a website,  I fully expect similar ridicule from some people for this blog post.

I am however pessimistic about the long-term sustainability of so many cryptocurrencies.  I believe there is a huge bubble that, just like the dotcom bubble, will burst at some point and only a few currencies will survive, but until then I’m going to have some fun.

We are already seeing governments starting to make use of blockchain technology and I think that it’s only a matter of time before governments get involved and create digital versions of their own currency,

Do you honestly want to be paid in cryptocurrency, are you mad?

I have discussed the idea of being paid in cryptocurrency with a few people and it’s about a 50/50 split between people that think I’ve gone mad and others (mainly my techier friends) think it’s a good idea.

Yes, I know that the value of the crypto I’m being paid in could rapidly drop in value and that there is a huge element of risk involved but there is also a chance that the value will increase.   So far, the work I have done and been paid in crypto works out a better hourly rate compared to being paid in fiat currency.

Currently, it is still fairly time-consuming to deposit money into crypto as there are a limited number of places where you can do that. Coinbase is probably the most popular place to buy but there are only a few options, Bitcoin, Etherium and Litecoin. Then you have to transfer to an exchange such as Binance if you wish to trade.

It can also be tricky withdrawing cash in fiat currency and there can be high fees involved but I believe there is a huge earning opportunity as there are people out there with large portfolios that would potentially benefit from the services that I offer but may not want to go through the hassle of converting to fiat first.

What type of work would you do for crypto?

I am happy to accept cryptocurrency for any service I would normally do for normal methods of payment. I have a good all-round skillset when it comes to digital marketing by my main area of expertise is SEO and PPC.

I am particularly interested in hearing from businesses that are utilising blockchain technology as I believe there is a huge amount of innovation in this field and I’d love to be a part of it.

Which cryptocurrency do you accept?

I am happy to accept most forms of crypto that can easily be traded online through exchanges such as Binance. My preference is for coins that are either relatively stable in price or bullish, have a decent circulating supply and a fast transaction time.

A few examples include Airswap, Bitcoin, Decred, Digibyte, ICON, TRON, NEO, Raiblocks, Ripple and Vertcoin etc.  At this point, I’m a bit reluctant to accept any of the adult entertainment tokens such as Spankchain as I don't want anyone to get the wrong idea! 😉

I know the idea of being paid in cryptocurrency will sound ridiculous to some, but I predict we will see more people preferring this method of payment for the work that they do.

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