Is there way to send fiat and have it automatically converted into bitcoin?

[Question] "Hey, thanks for providing Crypto content for free to everyone. For non-tech savy employees, is there an option to pay me in Bitcoin with a simple fiat bank transaction and then have it automatically converted into Bitcoin for me?" [Answer] Yes, however, because of the nature of such a transaction, this is going to be highly country-specific. So it really depends on where you live and I don't know which country this is related to but I can give you some insight.

Bitwage - fiat to bitcoin conversion

I know there was a service that I used a long time ago called Bitwage, B-I-T-W-A-G-E. That was at the time a U.S. based system and what it allowed people to do is, you as an employee set up an account with Bitwage and you provide to your employer a payroll deduction that you want to make. Almost like a split paycheck, where they send a percentage or fixed amount from your paycheck every month to a specific bank account using a specific ACH transaction and then on the other end, Bitwage immediately converts that to Bitcoin and deposits it into a Bitcoin address. So your employer doesn't know this is going to pay for Bitcoin. They just include an extra ACH credit in your paycheck which gets diverted to Bitwage which then gets converted to Bitcoin. Obviously, there is a custodial element 'cause we're talking about fiat meaning that at some point in time somebody else controls your money.

Find a similar service like Bitwage if you're not in the US

But otherwise that works. Now, there are similar services in a variety of countries, a lot of exchanges offer services like that. So did parametric just tell us where he is based? Or she is based? Okay, right. So FINT may be one of the exchanges in your country if you're not in the U.S. they may offer a very similar service which allows your employer to convert fiat for you.

Setting up an automatic buy on an exchange on your local country

The other thing you can really easily do is, if you can't do that, is you could set up an automatic buy on an exchange in your local country and simply time it for the day your paycheck hits, or the day after your paycheck hits so that every time your paycheck comes through, part of it automatically gets debited from your own account, gets converted to Bitcoin and then you can withdraw it from the exchange. So that's another way you could handle that same scenario (upbeat music) If you've enjoyed this video, please SUBSCRIBE, LIKE, and SHARE. All my work is shared for free, so if you want to support it join me on patreon.com/aantonop