Premise Pays Over $1 Million in Bitcoin to Contributors Around the World

Premise Contributors are increasingly choosing to get paid for completing tasks in Bitcoin.

Premise has been paying via Coinbase since 2016. Since our first Contributor cashed out in August 2017, we’ve paid more than $1 million in Bitcoin to Contributors in more than 110 countries around the world including the United States through Coinbase. To give you some perspective on that — when the first Contributor cashed out via Bitcoin in August 2017, a single Bitcoin was worth $4,088. Today, it’s worth over $65,000. 

What’s more — 12% of all payouts through the Premise app over the past 30 days were done through Coinbase. That means that Contributors are seeing the value in Bitcoin and opting to be paid that way for their time rather than through local currency. 

How it Works

Companies in a wide range of industries including retail, consumer packaged goods (CPG), travel, and quick service restaurants (QSRs) work with Premise to come up with tasks. 

• Contributors will earn a set amount for each task they successfully complete. 
• These tasks range from taking pictures of products on shelves in retail stores to identifying local landmarks to even filling out surveys. 
• Contributors can then choose to be paid out via their preferred method of payment, whether that’s Bitcoin through Coinbase or local currency through PayPal and other assorted mobile payment platforms.
• Once a Contributor has cashed out their earnings into their Coinbase wallet, they can convert their earnings into altcoins including Ethereum or even Dogecoin.

Why Premise is Big on Bitcoin

Premise integrated Coinbase with our mobile app in 2016. We did this for several reasons:

• Bitcoin is a universal payment method that allows us to compensate more Contributors in more parts of the world quicker and with less complications.
• Bitcoin is growing in popularity around the world. More people are seeking out alternatives to traditional currency and the sheer volume of cryptocurrency is continuing to grow and evolve.
• Not everyone has the documentation needed for a bank account. According to the most recent figures, 31% of all adults around the world do not have a bank account. Bitcoin does not require a bank account. Thus, offering payment via Bitcoin allows us to expand our potential Contributor network by making it easier for more people to get paid for completing tasks.

What’s Next

Premise is committed to investing in new ways to compensate Contributors and help our clients reach more people. We fully expect to see more growth and interest in being compensated via Bitcoin in the future and are continuing to innovate so that more people can earn more money through our task marketplace in that fashion.

Want to start earning while completing engaging tasks that help you learn more about your community? Join our Contributor network today.