In many companies, fiat currencies are no longer the only salary option employees can select. Cryptocurrencies slowly but surely replace the traditional forms of money as more people begin to take great interest in digital cash. When choosing which cryptocurrency to receive as salary, people need to ensure that it has quick transaction settlement and low fees. ONE is the native cryptocurrency of Harmony, and its features make it the perfect salary material. Companies can provide their employees with a chance to receive crypto salaries by using NOWPayments. In order to send ONE salaries, businesses can utilize NOWPayments’ Mass Payments feature.
Key Points:
- Harmony is an efficient blockchain with a powerful cryptocurrency ONE.
- ONE transactions are sustainable and rocket-fast.
- Businesses can pay ONE salaries using NOWPayments’ services.
What is Harmony (ONE)?
Harmony is a blockchain which is highly scalable and efficient. Harmony is a versatile solution that can be used to host cross-chain applications. Harmony enables apps to improve their operations by providing them with 2-second transaction finality and 1000 times lower fees. Harmony also relies on sharding, an innovative technology that has been proven to scale blockchains without compromising security and decentralization.
Benefits of paying salaries in ONE
Green salaries
The trend towards a more conscious use of energy is an incentive for many companies to make their operations less polluting. The problem with numerous cryptocurrencies, and Bitcoin, in particular, is that they use the PoW consensus, which requires kilowatts of energy to make a transaction. Some people are extremely conscious of their impact on the environment and therefore may want to reduce it. Harmony is in complete harmony with the environment because it runs on the Proof-of-Stake protocol, which does not require large amounts of energy. Thus, companies that decide to feature ONE salaries can offer their employees an opportunity to receive a salary in a way which is consistent with green initiatives and has a minimal effect on the environment.
Fast salaries
Harmony has chosen sharding to achieve incredible throughput and provide users with state-of-the-art scalability. As a result, ONE transactions take only a few seconds. The blockchain processes thousands of transactions per second and is aiming for a goal of millions of transactions per second. Businesses that choose to let their employees get ONE as a salary will get rid of the problem of waiting for a transaction to complete. ONE salaries are practically instantaneous, which is a great feature for people who want to receive their salaries fast.
Salaries without borders
The traditional financial system is severely limited by geographic boundaries. Sometimes it takes weeks for a payment to get from one’s bank to a bank in a neighboring country. This undermines the ability of businesses to operate efficiently, especially in situations when they have many employees working abroad. Harmony exists across all borders. As a result, ONE transactions take seconds, regardless of where the sender and recipient live. A ONE salary can be an invaluable asset for companies that maintain relationships with foreign contractors and workers. Making a payment via ONE is a simple task compared to an international bank transfer.
Low fees
Bank transfers involve significant costs. Modern banks charge businesses large interchange fees that erode their revenues. Small businesses are particularly affected by fee policies. Switching to cryptocurrencies is the easiest way to avoid paying high fees to banks. Harmony fees are among the lowest in the industry, and each transaction costs less than a penny. By using the Mass Payments feature from NOWPayments to send salaries, businesses can significantly reduce their fee expenses.
How to pay salaries in Harmony
NOWPayments’ Mass Payments tool helps businesses to facilitate their process of sending salaries. Companies that want to start paying salaries in ONE, need to follow these steps:
- First, you need to sign up on the official website of NOWPayments.
- 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
Horizen’s cryptocurrency ONE is a great solution for companies that want to pay their employees in crypto. NOWPayments assists businesses in sending crypto salaries.