How To Pay Salaries in DAI

DAI, a decentralized stablecoin, is another option for businesses exploring cryptocurrency-based payroll solutions. DAI's value is maintained stable relative to the U.S. dollar, making it a safe bet for businesses dealing with crypto.

This guide illustrates how you can utilize Request Finance to pay salaries in DAI efficiently.

Process of Implementing DAI Payroll through Request Finance

Here's a systematic approach on how to remunerate employees in DAI:

‍Step 1: Establish a Wallet

It's crucial for both the employer and the employee to have a digital wallet that supports DAI. 

Request Finance is compatible with a variety of crypto wallets, facilitating seamless operations regardless of the number of wallets you operate, but the final selection will depend on your needs.

Step 2: Fund Your Wallet with DAI

You can get DAI directly from your wallet or transfer it from a cryptocurrency exchange. DAI is readily available on most exchanges. 

Step 3: Incorporate Request Finance for Payroll Management

Having acquired DAI in your wallet, the next phase involves incorporating Request Finance to streamline your payroll processes. 

Click on the "Connect" button located in the Request Finance dashboard, and proceed to pick your desired wallet from the dropdown list. Subsequently, a popup window will appear, prompting you to verify and authorize the connection.

Step 4: Enter Employee Details

Visit the payroll section and decide whether to make a one-time payment or establish a recurring payment schedule. Specify the payment amount in DAI, select the corresponding fiat currency for record-keeping, and enter all relevant employee information and wallet addresses. 

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Bulk upload capabilities allow for up to 10,000 employees at once.

Step 5: Dispatch Payments

Once all are set, the payments can be dispatched with just a few clicks. The DAI will be transferred swiftly from your wallet to the employee's wallet.

By harnessing Request Finance, paying salaries in DAI is a straightforward process, providing you with more time to concentrate on the crucial aspects of your business. With this guide, you can efficiently process multiple crypto payments swiftly.