Do NHL players want to be paid in crypto?
In recent years, an increasing number of athletes have been paid in cryptocurrency. This trend began with a few high-profile cases, such as NBA player Spencer Dinwiddie signing a contract with the Brooklyn Nets that allowed him to be paid in Bitcoin. Since then, more and more athletes have started receiving payments in cryptocurrency, either through direct contracts or through third-party companies that convert traditional payments into crypto.
Cryptocurrencies are becoming increasingly popular as a means of payment, and the NHL teams are no exception. It is believed that this trend will continue to grow in popularity, as more and more people become aware of the benefits of using crypto for payments.
This made crypto bookmakers surprisingly active. More specific, crypto bookmakers offer bets on ice hockey at major league events, or more obscure competitions. Therefore, if you are looking to bet on an ice hockey match, it is likely that you will be able to find a bookmaker that offers betting on the event.
In this article, we will outline the main reasons why the NHL mostly prefers to provide salaries in crypto and will also discuss the pros and cons of crypto salaries for players.
Benefits of crypto salaries for NHL teams
There are a few NHL teams that have launched their own crypto or are actively involved in the crypto industry. The Tampa Bay Lightning, for example, have their own cryptocurrency called “Bolts”. The team has also partnered with Blockfolio, a company for managing digital capital. The Florida Panthers also have their own cryptocurrency called “Panthers Token”, which can be used to purchase tickets and merchandise.
However, it is safe to say that NHL teams that have already implemented crypto pay systems for their players are relatively uncommon. It is important to note that it is not only because of the players’ wishes that will be discussed later, but also on the benefits these clubs can get. NHL teams can get a number of benefits if they pay their players in crypto.
Perhaps the most obvious benefit is that it will allow players to be paid directly in cryptocurrency, which could increase their overall earnings if the value of crypto assets continues to rise. In addition, it will also provide greater transparency and accountability when it comes to team finances, as all transactions will be recorded on the blockchain. Finally, paying salaries in crypto could also help attract new talent to the NHL as younger generations become more interested in digital currencies.
One of the main challenges that an NHL team would face if it decided to pay salaries in cryptocurrency is volatility in prices. Cryptocurrency prices can fluctuate rapidly and unpredictably, which can create difficulties for both the team and the players in managing budgets and ensuring financial stability. Another challenge may be related to taxes which can create further complexity and compliance burdens for both the team and the players.
What about NHL players – do they want crypto salaries?
NHL players are paid in fiat currencies, which are subject to inflation and can fluctuate wildly. Cryptocurrencies can be easily converted into other assets or cash, making them a very convenient way to receive payment.
NHL players can get a number of benefits if they are paid in cryptocurrency. One advantage is that they will be able to receive their payments more quickly. Another advantage is that they would have more control over their finances and could avoid fees associated with traditional banking methods. In addition, crypto payments are often more secure than other payment methods, which can provide peace of mind to NHL players who are concerned about the security of their earnings.
A notable name on this list includes Florida Panthers forward Anthony Duclair, who has expressed interest in being paid at least partially in cryptocurrency. With the value of Bitcoin and other cryptocurrencies expected to rise in the future, it is likely that we will see even more NHL players asking to be paid in crypto going forward.
So it is quite clear that a rather remarkable part of the NHL players prefer to be paid in crypto. On the other hand, there are some NHL players who completely disagree with being paid in crypto and those who believe that digital currency is not stable enough to be used as a form of payment. They are also concerned about the lack of regulation in the cryptocurrency market, which could lead to fraud or theft.
