Coinbase Launches 'Get Paid in Crypto' Direct Deposit

Read the original article by: Jeff John Roberts

Have you ever wanted to receive your paycheck in crypto? Or even better, do you already allocate a percentage of your check into Bitcoin, using Coinbase’s weekly recurring buy feature? Well if you answered yes to either of the two questions then you’re in luck because the ever-popular Coinbase announced “Get paid in Crypto” on Monday. It’s a new service that enables just about everyone who is paid by a direct deposit, to receive their wages in either Bitcoin, Ethereum, & other coins.

The company explained how it will work in a blog post stating, "You can set up direct deposit in just a few steps without leaving the Coinbase app. Find your current payroll company or employer and we’ll automatically update your paycheck allocation. If you’d prefer to set up direct deposit manually, we’ll provide instructions on what to share with your HR department or employer payroll website." Also detailed within the post is the fact that the user does not exclusively have to receive their pay in crypto, they are also allowed to get it in dollars.

This announcement comes as 401k providers have pushed back on the idea of letting customers invest some of their retirement into the crypto industry, showing just how much the space has grown. This is not Coinbases first foray into banking, and also has significant ties to its Coinbase Card debit service. While it may not be this year or the next, I can definitely see a scenario where this service becomes the number 1 growing way to get paid. Just think about the growth this could bring to our industry.