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The minimum number of staff required to enroll in the bitcoin savings plan is 5 or a recurring monthly purchase minimum of $300 in total for the entire company
There is a one time installation fee of $250 to get your program up and running. This includes one education session for your staff.
No, Block Rewards is a non-custodial bitcoin company. We do not hold customer funds at any time. This means we never hold onto your employees’ bitcoin at any time, unlike custodial services. Your people have full ownership and control of their bitcoin once it is delivered to the crypto wallet they set up as part of the enrollment process.
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.
BPP Payments must be listed as “After-tax Deductions”. Rather than providing this amount on the employee’s paycheque, Block Rewards withdraws this after-tax amount from your account and sends the corresponding amount of bitcoin to the employee.
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 your employees their bitcoin on the same day they receive their paycheques.
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.
While there is risk and uncertainty in any investment opportunity, generally speaking the relative risk in self-stored bitcoin is much lower than the public perception of that risk. Since 2009 bitcoins price appreciated from $0.01 to $69,000USD in 13 years. It has had a number of high profile price crashes along the way, but over longer time frames the trend is up.
The bitcoin network has been running near flawlessly during that time and is growing in global computing power every day. There is always risk of some unknown, unforeseen event creating a catastrophic failure of the network. Short of that occurring, most of the risk relates to individuals storing their bitcoin securely and safely.