Bitcoin companies will benefit from a remote working approach

Bitcoin companies will benefit from a remote working approach

By Sam Grant - min read
An image illustrating the remote work approach

Bitcoin payment firm, BitPay has now joined thousands of blockchain and crypto and blockchain firms that have implemented a fully remote work routine

The COVID-19 pandemic that struck early this year pushed many companies to move their operations online and adopt the WFH approach. The implementation of this approach has varied between partially and fully depending on the industry and other involved factors.

The latest company to switch to a permanent remote work approach is BitPay, the world’s largest Bitcoin payment service provider and wallet company.

The company’s CMO, Bill Zielke, reported that BitPay employees were working at a fully remote capacity until further notice. “Then, employees will have the option to use our offices or remain remote. We plan to have office space for meetups, training, customer events, and company gatherings and events,” he added.

The crypto industry is well suited for remote work

According to Stephen Pair, BitPay’s CEO, the new approach has been a success considering the crypto space is a predominantly internet-based sector.

“We were closely following the coronavirus and immediately recognized its significance. As a result, the executive team implemented a virtual plan to continue business as usual for the well-being of our employees. The work from home policy worked out well, so we turned to cyberspace for continued work,” Pair explained

It seems like a trend now as BitPay follows other cryptocurrency platforms such as Binance in adopting a remote-approach for the time being.

Most crypto employees prefer remote work

The success of the new approach is also boosted by the fact that most crypto employees are for the idea of remote work.  According to a release by Business Wire, an overwhelming majority of employees (85%) would choose remote work, citing that it is more productive.

Explaining the move, BitPay’s marketing director Andrew Kelin said, “It took a bit of adjusting to working from home because I am an outgoing and social person. I am grateful to have this flexibility and my team is able to collaborate and work together as if we were side-by-side.”

The BitPay teams from all around the world have embraced the new approach. “While the team in Argentina all said they would prefer to work from home and are more productive, 86% of the U.S. and 75% from Amsterdam employees said so as well,” Zielke asserted.