NFL Player Who Got Paid in Bitcoin: Exploring the Benefits

In recent years, cryptocurrency has gained significant traction as a form of payment in various industries. The NFL, known for its forward-thinking approach, has witnessed a few players opting to receive their salaries in Bitcoin. This innovative payment method offers several advantages for both the players and the league. In this article, we will delve into the positive aspects of NFL players who choose to get paid in Bitcoin, highlighting its benefits and conditions for use.

Benefits of NFL Players Who Get Paid in Bitcoin:

Financial Privacy:

Bitcoin transactions provide a level of anonymity, as players' personal information is not disclosed during payment processing.
Protects players from potential identity theft or fraud.

Global Accessibility:

Bitcoin is a borderless digital currency, facilitating easy and quick transactions across international boundaries.
Players can receive payments from teams or sponsors located in different countries without the need for currency conversions or hefty fees.

Reduced Transaction Costs:

Traditional payment methods often involve intermediaries, such as banks, resulting in significant transaction fees.
By utilizing Bitcoin, players can avoid excessive fees, ensuring they receive the full value of their earnings.

Potential for Increased Value:

Bitcoin's decentralized nature and limited

News of Bitcoin's price drop has been unlucky for Beckham Jr. and his revenue. He had a one-year, $750K contract with the Rams that he converted to Bitcoin. Sports business reporter Darren Rovell reported that his whole salary is now worth just $413K USD, not the $750K USD, excluding taxes.

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Which NFL player lost money in crypto?

Tom Brady lost millions in the collapse of cryptocurrency company FTX, for which he served as an "ambassador," The New York Times reported Friday.

How much did Russell Okung make in Bitcoin?

$13 million Then there's Russell Okung, the former offensive tackle for the Carolina Panthers. He made headlines in 2020 by converting half his $13 million salary into Bitcoin. His $6.5 million investment could be down to around $2.7 million.

Which athlete takes salary in Bitcoin?

Odell Beckham Jr. Darren Rovell, a prominent sports reporter, calculated as of Jan. 23, 2022, that NFL star Odell Beckham Jr., a wide receiver for the 2021 Super Bowl champion Los Angeles Rams, had netted $35,000 on a $750,000 deal (after taxes) because he was paid in bitcoin.

Who lost most money on Bitcoin?

1. Changpeng Zhao – US$82 billion. He is known as the Chinese crypto king, but 2022 was not Changpeng Zhao's year. According to Crypto Presales, he lost an estimated US$82 billion.

Did Odell really get paid in Bitcoin?

Odell Beckham Jr. got his $750,000 salary in bitcoin — how much did it end up costing him?

Russell Okung announced in December he was converting half of his $13M salary into Bitcoin.

Bitcoin was $27,000.

Now, with the price at $61,000, @RussellOkung turned his $13M annual salary into over $21M.

This increase makes Okung one of the 30 highest-paid NFL players today. pic.twitter.com/xXX970Ng8H
— Joe Pompliano (@JoePompliano) March 13, 2021

Which players take salary in Bitcoin?

Pinheiro and the Yankees follow in the footsteps of NFL defensive end Alex Barrett and WWE Superstar Summer Rae, who both declared this year they are receiving compensation in bitcoin. Athletes in a variety of sports are taking bitcoin as compensation, demonstrating the widening appeal of crypto.

Frequently Asked Questions

How much did OBJ make in Bitcoin?

$750,000 When he became a free agent in November, Odell decided to be paid his $750,000 salary in bitcoin. After bitcoin's recent plummet in January, and after taxes, the news report estimated he will net approximately $35,000 from his contract with the Rams for the entire year.

What NFL player was paid with bitcoin?

Russell Okung Then there's Russell Okung, the former offensive tackle for the Carolina Panthers. He made headlines in 2020 by converting half his $13 million salary into Bitcoin.

Did Odell Beckham Jr lose money on bitcoin?

FAQ

What NFL player got paid in bitcoin?: LA Rams football player Odell Beckham Jr. took his $750,000 salary in bitcoin. Yahoo Finance's Brad Smith and Akiko Fujita discuss how the current drop in bitcoin's price is affecting his pay.
How much has OBJ lost in bitcoin?: The news of Bitcoin's price drop is unfortunate for Beckham's earnings. Darren Rovell reported that his entire salary is now worth only $413,000 USD as opposed to the $750,000 USD, excluding taxes. Once taxes are factored in, OBJ makes around $35,000 USD which equates to just one Bitcoin.
Which football player lost money in crypto?: Tom Brady lost millions in the collapse of cryptocurrency company FTX, for which he served as an "ambassador," The New York Times reported Friday.