Zcash is one of the coins which have been built on top of the original Bitcoin code. This allowed Zcash developers to keep all the advantages of the first-ever cryptocurrency and improve on its shortcomings. As a result, Zcash was designed as a more efficient alternative to Bitcoin. Additionally, Zcash is also much more private than its predecessor, which makes it a perfect coin for businesses that want to provide their employees with maximum confidentiality when paying salaries. NOWPayments enables companies to pay Zcash salaries without any obstacles.
Key points:
- Zcash has quick and private transactions.
- ZEC salaries are convenient and borderless.
- NOWPayments assists companies in featuring ZEC salaries.
What’s good about salaries in Zcash?
Quick transactions
One of the key features of Zcash is the speed of its transactions. Zcash managed to significantly reduce block times. Specifically, one block on the Zcash blockchain takes only 75 seconds to get processed. Subsequently, Zcash transactions are nearly instant. Businesses can feature Zcash as a salary method if they wish to bring down the money transfer processing time. Some businesses may not have access to modern payment-processing solutions. Therefore, they may experience delays when paying salaries, thus causing inconvenience for employees. Zcash is a universal solution that any business seeking to make faster salary payouts can integrate. With Zcash, the process of paying salary will take no more than several minutes, unlike in the case of bank transfers which may take days.
Borderless payments
In addition to being a quick payment method, Zcash is also borderless. Essentially, Zcash operations are not affected by any geographic borders or laws of jurisdictions. As a result, a Zcash transaction takes several minutes at all times, no matter where the sender and the recipient live and irrespective of how long the distance between them is. Pretty much any person on the planet who has access to the Internet can send and receive Zcash transactions. This is why Zcash is the best solution for companies that have foreign employees. Zcash transfers are quick and borderless and, therefore, can be used as a universal tool for paying salaries to international workers. Zcash can help companies to avoid creating a separate bank account in foreign countries to pay salaries to local employees.
High-grade privacy
As mentioned above, privacy is one of the main selling points of Zcash. In fact, the approach of Zcash to on-chain privacy is quite unique. Zcash allows people to send and receive Zcash without disclosing the sender, receiver, or the amount transacted. The privacy of Zcash enables businesses and employees to transact safely over digital mediums. Essentially, all financial information of the company, including the size of the salaries of employees, can be protected using Zcash’s special privacy feature. Privacy-enhancing technology fits within regulatory frameworks. For instance, Zcash is trusted by regulated exchanges such as Gemini, which recently announced support for shielded withdrawals. At the same time, Zcash also offers an option of transparent addresses.
Convenience
Cryptocurrencies are extremely popular among people, and many consider them their primary investment option. Zcash is a coin with one of the highest market capitalizations, which is held by thousands of people around the world. Therefore, chances are some of your employees use cryptocurrencies such as Zcash. Offering them an opportunity to get a share of their salary in crypto is a great way to make the process of crypto acquisition more convenient for them. Usually, when people want to purchase crypto, they go to exchanges and trade their fiat for digital assets. Businesses, by providing crypto salaries, can help their employees to get Zcash coins directly without using any intermediaries.
Low fees
Low fees always provide businesses with a competitive advantage. Yet, quite often, companies fail to discover ways to reduce fees. For instance, bank fees always eat into the sums transferred by businesses. So, when paying out salaries, companies end up paying large sums of money in fees. Zcash has extremely low transaction fees. The default fee of Zcash is set as 0.0001 ZEC. This can help businesses to save large sums of money on fees when using Zcash as a salary solution. Basically, Zcash transactions are practically insignificant for both businesses and employees and thus let companies pay their workers more.
How to pay people in ZEC?
Mass Payments is a tool enabling businesses to make the process of sending crypto salaries and other mass payments easier and more efficient. To start sending Zcash salaries, you need to follow these steps:
- First, you need to create a NOWPayments account.
- Then, go to the settings and generate an API key.
- Once the key is ready, select the Mass Payment feature.
- After you set up Mass Payments, deposit your cryptocurrency into your account.
- Then, specify the addresses and the amount you want them to receive.
- NOWPayments will send all these payments to the recipients automatically.
Conclusion
Zcash is a fast and low-cost solution for crypto salaries. NOWPayments enables companies to send ZEC salaries using the Mass Payments feature.