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.

AccessTimeIconFeb 1, 2022 at 2:34 p.m. UTC
Updated Feb 1, 2022 at 4:36 p.m. UTC
Alex Thorn
Head of Firmwide Research
Galaxy
Hear Alex Thorn share his take on "Bitcoin and Inflation: It’s Complicated” at Consensus 2023.
Alex Thorn
Head of Firmwide Research
Galaxy
Consensus 2023 Logo
Hear Alex Thorn share his take on "Bitcoin and Inflation: It’s Complicated” at Consensus 2023.

Stephen Alpher is CoinDesk's co-regional news chief, Americas. He holds BTC above CoinDesk’s disclosure threshold of $1,000.

Alex Thorn
Head of Firmwide Research
Galaxy
Hear Alex Thorn share his take on "Bitcoin and Inflation: It’s Complicated” at Consensus 2023.
Alex Thorn
Head of Firmwide Research
Galaxy
Consensus 2023 Logo
Hear Alex Thorn share his take on "Bitcoin and Inflation: It’s Complicated” at Consensus 2023.

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.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

Stephen Alpher is CoinDesk's co-regional news chief, Americas. He holds BTC above CoinDesk’s disclosure threshold of $1,000.


Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.


CoinDesk - Unknown

Stephen Alpher is CoinDesk's co-regional news chief, Americas. He holds BTC above CoinDesk’s disclosure threshold of $1,000.


Read more about