Because Bitcoin is traditionally viewed more as a investment or savings vehicle, it is often simpler to envision it fitting into your total compensation strategy as part of the retirement savings plan benefits as opposed to your health and dental package.
For those companies that want to approach BPP more as an optional reward or supplemental component to a benefits offering we have some ideas. Bitcoin could integrate into a rewards strategy by being positioned more as a perk.
With the BPP you are able to offer Bitcoin as an incentive, either as an elective benefit inside your health / wellness offering or as a alternative way to pay out bonuses. Think of it as a Bitcoin benefit plan!
Differentiate your employee benefits strategy by offering employees by including a regular recurring non-matched purchase. A small amount of Bitcoin offered by employers is a great incentive to introduce staff to the technology, and encourage learning. It also is a great way to stand out in the marketplace by being unique.
Bitcoin is WSA eligible expense. Including Bitcoin in your list of eligible taxable benefits is another way to appeal to staff who may not need flexible spend dollars for gym memberships or other lifestyle benefits.
Bonuses being paid into RRSPs is an option many employers in Canada offer. This concept is the same. For employees looking to increase their Bitcoin holdings, choosing to take bonus payouts directly as Bitcoin could be an exciting twist on a performance reward.
A bonus paid out into the BPP would still be subject to payroll deductions prior to dispersal, making it a great way for top performers to celebrate their achievement by stacking some extra Bitcoin.
Bitcoin stands out as the premier digital currency choice for businesses entering the realm of cryptocurrency payments. Its unparalleled attributes make it the optimal selection, particularly for enhancing recruitment and retention efforts. Over its 14-year tenure, Bitcoin has exhibited remarkable resilience amidst market fluctuations, consistently maintaining its status as the foremost digital currency. With its unique combination of decentralization, price stability, and widespread adoption, Bitcoin emerges as the sole contender worthy of consideration in the corporate landscape.
The decision to offer bitcoin as part of compensation and rewards is not limited to a particular region or industry. Our clients range in size from small enterprise to large corporations, and are coast to coast.
Official guidance on personal tax obligations related to trade/ownership of cryptocurrencies can be found here: https://www.canada.ca/en/revenue-agency/programs/about-canada-revenue-agency-cra/compliance/digital-currency/cryptocurrency-guide.htm
We send a transaction report that lists your employees’ total contribution amounts. You tell us how much you would like to match per employee, and we will add that to their contributions.
Bitcoin is a transformational financial tool that works differently than the financial tools we are used to. It's a big change! We are here to help at every step of the way and make this leap forward as simple and straightforward as possible.
Building Bitcoin into compensation and rewards will position your organization today, to recruit and retain staff in the economy of tomorrow. Why wait? Get started with submitting some basic info below. A Block Rewards team member will reach out shortly!
Welcome to Block Rewards! Headquarter based in Kelowna, BC, we're dedicated to helping Canadian employers seamlessly integrate Bitcoin into their compensation, benefits, and retirement plans. As a registered Money Services Business (MSB) with FINTRAC, trust us to lead the way in compliant, innovative solutions. Join us in shaping the future of finance, one block at a time!
