How does the payment process work for NFL players who choose to receive their salaries in Bitcoin?

3 answers

• Agrim SaksenaJan 04, 2024 · 2 years ago
  When NFL players choose to receive their salaries in Bitcoin, the process typically involves several steps. First, the player and their team negotiate the terms of the payment, including the amount and frequency of the salary. Once the terms are agreed upon, the player provides their Bitcoin wallet address to the team. The team then converts the agreed-upon salary amount into Bitcoin and sends it to the player's wallet address. The player can then choose to hold the Bitcoin or convert it into another currency if they wish. It's important to note that the payment process may vary depending on the team and the player's individual preferences.
  648

  324
• ShashikumarApr 07, 2021 · 4 years ago
  Receiving salaries in Bitcoin is becoming increasingly popular among NFL players. The payment process works by the player and their team agreeing on the terms of the salary, just like with traditional payment methods. Once the terms are finalized, the player provides their Bitcoin wallet address to the team. The team then transfers the agreed-upon salary amount in Bitcoin to the player's wallet. The player can then manage their Bitcoin as they see fit, whether it's holding onto it as an investment or converting it into another currency. It's an innovative way for players to receive their salaries and take advantage of the benefits of cryptocurrency.
  657

  219
• swarnadipMay 27, 2021 · 4 years ago
  When NFL players choose to receive their salaries in Bitcoin, the payment process is typically facilitated by a third-party platform like BYDFi. The player and their team would first create accounts on the platform and link their Bitcoin wallets. The team would then transfer the agreed-upon salary amount in Bitcoin to the player's wallet through the platform. The player can then manage their Bitcoin within the platform, whether it's converting it into another currency or holding onto it. BYDFi provides a secure and convenient solution for NFL players who choose to receive their salaries in Bitcoin.
  605

  152