The crypto adoption is underway which means that people are constantly finding new ways to utilize their cryptocurrencies. Some crypto enthusiasts actually ask their employers to pay them in the form of digital assets. In such situations, companies often find themselves at a loss as to which coin to choose as the currency for salaries. At NOWPayments, we believe coins with low fees and excellent speed of transactions should be the priority for corporate enterprises. VET meets both of these requirements and therefore constitutes a perfect crypto payment material. NOWPayments enables merchants around the world to pay salaries in VET with the help of the Mass Payouts feature.
Key Points:
- VET is the native currency of VeChain.
- The VeChain network delivers highly-efficient transactions and impressive scalability.
- Use NOWPayments’ Mass Payouts solution to send VET salaries to your employees.
Benefits of paying salaries in VET
Cutting down expenses
As mentioned above, VeChain maintains low transaction fees on its blockchain. As a result, an average transaction will cost you less than $0.1. It is hard to deny the fact that VeChain’s level of fees will be beneficial for any business that wants to minimize its costs. Sending salary to employees always entails large expenses in the form of bank fees, the sum is especially staggering when you start calculating the total annual cost. VET transactions always empower companies and give them a chance to considerably reduce their expenses.
Streamlining payment process
VeChain blockchain performs efficient processing of transactions thanks to the amazing technology used by the network. Every VET transaction takes only several seconds to complete. Thus, companies can make use of this feature and make the process of paying salaries smooth and effortless since there is no need to be concerned over the payment completion, which in the case of bank transfers can take days. Paying salaries in a faster way is always a guaranteed way to make employees happy.
Ensuring transparency
Blockchain is not only a decentralized technology but also transparent one and VeChain adheres to this principle. The network makes all of the transactions visible to the public, recording and storing every single one of them. Companies paying salaries in VET will always be able to check how much they paid and to whom. VeChain’s transparent infrastructure ensures better accountability and keeps all of the important financial data always available.
Private and secure payments
Although VeChain is transparent and makes all the transaction information public, it does not change the fact that it is highly private at the same time. Every crypto address on VeChain is anonymous meaning that it is hard to pin down an address to the person behind it. Moreover, VeChain achieves superior security on the network by employing the Proof of Authority model.
How to pay employees using NOWPayments
If you are interested in sending VET or other cryptocurrencies as salary to employees, you are welcome to use NOWPayments’ Mass Payouts feature. All you need to do is sign up on NOWPayments’ official website, enter your public VET address, and generate an API key. The Mass Payouts feature makes sending dozens of VET transactions almost simultaneously a reality. The process is simple. You deposit your funds into your account, specify the public addresses of your employees (or suppliers) and the sums they have to receive, and we send the payments right away.
Conclusion
VET is a crypto coin which is ideal for using it as a means for paying salaries. VET transaction fees are among the lowest ones in the industry which means that employers can reduce expenses. VET transactions are also extremely fast. Start sending or accepting VET payments with NOWPayments.