If you're anything like me, you've been looking for an easy way to get paid by your employer in crypto. Sure, you could just be disciplined about DCA, or buy it here and there, but I tell you, there's an easier way.
Enter, Hal, the adorable little hedging hedgehog
Like me, you've probably seen GetHedge come to market offering a service to convert some or all of your pay into Litecoin, Bitcoin, or Ethereum and have it sent automatically from your payroll directly to your wallet.
I've been interested in the service for some time, and today I decided to take the plunge and GetHedged. Follow me through the process of getting signed up and getting paid in Litecoin.
Since I intend to take my pay in only Litecoin, I figured I would start directly at the Litecoin landing page, https://gethedge.io/Litecoin . After watching the short little intro video, I gave in and clicked.
The next step was to set up an account which was super simple requiring only an email address and a password. After that, it was a standard email account verification. After verifying by clicking the link in the automated email, I signed in without issue.
After acknowledging the following standard disclosure I entered my KYC information.
All that was left was to accept the terms and conditions ( of course I read them 😅 ) was to submit my KYC docs. I used my state-issued driver's license and a piece of post-marked mail. So far the process has been very simple and straightforward.
Now we wait
About 23 hours later...
KYC Complete! Now we can get in and set things up!
First, I need to set my allocations. This is the percentage of dollars I want to convert into Litecoin. In my case, I will be doing a 100% into Litecoin, however, it should be noted Hedge also offers Bitcoin and Ethereum and could split the 100% into each of those.
There are also 2 options for your newly converted crypto. You can choose to keep it on the Hedge platform in a custodial wallet, or you can have the coin sent directly to an external litecoin address, this is what I opted for.
The next step is to retrieve the direct deposit information from your user profile which you will then provide to your employer. My employer uses an Employee Self-Service portal which allows me to adjust my direct deposit information myself without having to involve anyone at the company. If you do not have this available to you, it is as simple as providing a copy of the information to your payroll department and having them make the adjustment for you.
As an example of what you can do with your direct deposit, this is how I set mine up.
The first entry is my Hedge "bank account". 20% of my Net Pay will be sent to Hedge where they will automatically convert it to Litecoin and send it to my hardware wallet and the remaining 80% will go to my personal bank account as it normally would. No thinking, no buying in an app with high fees.. just super-pure dollar cost averaging. Unfortunately for me, I have to wait almost 2 weeks for the next payroll cycle to see how it works!
Disclosure: This is not a paid promotion and I am in no way affiliated with GetHedge nor was I asked to write this article. It's just something I've wanted to do for some time now and I thought I would bring you all along for the journey and hopefully answer some questions you may have had about the service.