Bitcoin: German tech magazine t3n trials paying employee salaries in bitcoin in agreement with PEY and BitPay

Francesca Washtell
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t3n has trialled partially paying its employees in bitcoin since November (Source: Getty)

A German tech magazine will now allow employees to receive a portion of their salaries in bitcoin after trialling the service since November.

A group of employees at t3n, a digital economy and lifestyle magazine based in Hanover, have been receiving €20 worth of bitcoin with each monthly salary payment.

However, this will now be ratcheted up a level and employees will be able to decide how much of their pay they receive in the cryptocurrency each month.

In a blog post on its website, t3n said:

"Since November, the method has been tested internally with some employees and will now be rolled out gradually across the enterprise. The amount that is converted into bitcoin is currently at €20 per payroll. Depending on [bitcoin's] performance, this sum can quickly increase, but of course can also use value. What they do with the bitcoin payment is up to the employees themselves.

"One motivation to implement the new form of salary payment, of course, is that it is in our editorial related interest in new technologies and their adaptation by users in everyday life."

t3n has entered a partnership with local bitcoin start-up PEY to facilitate the cryptocurrency-friendly system.

PEY will develop payroll payment services for bitcoin merchants with the US-based startup BitPay, which processes the digital currency for more than 60,000 businesses and organisations worldwide.

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