Contrary to the common belief that the cryptocurrencies market is facing a downturn, the crypto industry is continuously growing and getting new projects. The FEG project, which is short for Feed Every Gorilla, took off at the beginning of 2021 and, over several months, became the name of the game for thousands of crypto enthusiasts. Today, FEG is a promising Defi project which has the potential to become a really big name on the market. If you have been a die-hard fan of FEG or simply have looked into purchasing the token, you might want to try receiving FEG as your salary or pay. NOWPayments offers tools to businesses and individuals that wish to send and receive salaries in FEG.
- FEG is a deflationary token deployed on both Ethereum and Binance Smart Chain.
- FEG tokens can bring passive income and facilitate international transfers.
- People can accept and send FEG as salary using NOWPayments.
What is Feg Token?
The FEG token is the native currency of the FEG project, which also includes the FEGex, a decentralized exchange platform for FEG users. The key concept of the FEG token is to deliver a decentralized transaction network, operating both on the Ethereum blockchain and the Binance Smart Chain networks. Essentially, there are two types of FEG tokens, ERC-20 and BEP-20. Initially, there was a total supply of 200 quadrillion tokens minted, 100Q on Ethereum and 100Q and Binance Smart Chain. As of January 2022, the circulating supply of FEG tokens on each network was lower than 50 quadrillions. The rapid decrease of the FEG supply can be explained by the deflationary model chosen by the token developers. In order to attain deflation, the FEG project imposes a 2% fee on each FEG transaction. The 2% off each transaction sum gets evenly distributed between the burning address and all the addresses holding FEG tokens.
Why should I receive salaries in FEG?
Potential Price Growth
Now, as you have probably guessed, the deflationary nature of the FEG token makes it a really lucrative asset. Since the total supply of the coin is gradually decreasing, the demand for it is rising, causing the price to go up. Taking into consideration the fact that virtually each FEG transaction triggers a 1% burn rate, the total supply of the coin is expected to decrease rapidly. By getting your entire salary or only a share of it in FEG, you can diversify your investment portfolio and get a coin with a lot of growth potential. Moreover, the current development of the FEG ecosystem looks really promising, so why not try to capitalize on the hot asset that can deliver good yields.
Speaking of good yields, as was mentioned earlier, FEG transactions entail a 2%, half of which gets distributed among FEG holders. Thus, people who own FEG and keep these tokens in their wallets regularly receive new coins. Basically, FEG provides investors with a free passive income mechanism. That is why FEG is perfect for those aiming for long-term crypto investment. By getting a share of your salary in FEG, you will get the chance to grow your FEG investment. Moreover, even if you stop receiving FEG salary and switch to another coin, your FEG holdings will still continue to grow, which is simply amazing.
Easy International Transactions
FEG transactions, just like any other crypto transactions, are borderless. In other words, FEG transactions are quickly processed irrespective of where the sender and recipient live. Thus, freelancers and people who work for companies in foreign countries can greatly benefit from FEG salaries. FEG transactions constitute a great alternative to the traditional payment methods, whose main issue is speed. Freelancers are familiar with the constant problem of bank transfer delays. People end up waiting for days for their salary to arrive due to the bank’s poor service. FEG transactions fix the problem of delays and can be transferred between crypto addresses in a matter of minutes. Therefore, getting a salary in FEG is a great way to get your salary in a fast and reliable way.
Security and Full Ownership
Since FEG transactions are reliable, FEG coins are a secure way of storing your money. FEG tokens are hosted on Ethereum and Binance Smart Chain, the networks which uphold the highest standards of security and protection. This means that your FEG holdings are unlikely to get stolen due to a hacker attack. Moreover, FEG tokens provide you with an opportunity to claim full ownership over your funds if you decide to store them in a non-custodial wallet. When you keep your money in the bank, you actually partially give up your ownership and transfer it to the bank. As a result, you risk losing your money overnight if the bank goes bankrupt. A non-custodial wallet solves this problem by letting you be the only person who has full control over your money. That is why, when receiving FEG tokens as your salary, you can be certain that your crypto holdings will not disappear.
How to accept FEG as salary
If you want to accept FEG as a salary, you can do it using NOWPayments’ solutions. For instance, you can create a custom crypto invoice and specify the sum of FEG in dollars or euros which you would like to receive. Then, you will need to simply send the invoice to your employer, who will be able to settle it by scanning a QR code. The crypto invoice is reusable, and it regularly updates the sum in FEG according to the latest exchange rate. So, if your salary does not change, you won’t need to create a new crypto invoice each time.
If you are an employer and wish to send crypto salaries to a large number of employees, you can use NOWPayments’ Mass Payments feature to facilitate the process.
FEG, when used as a salary, can deliver many benefits. For example, FEG tokens can become a good investment and a source of passive income. NOWPayments offers tools for accepting and sending FEG salaries.