In today’s fast-evolving tech landscape, startups and technology-driven companies are expected to stay ahead of the curve—not just in product innovation, but also in workplace culture and employee engagement. As Lunar New Year approaches, many business leaders are rethinking traditional customs like handing out red packets (hongbao). Why not embrace the future by sending a Bitcoin red packet or an Ethereum bonus to your team?
With growing interest in digital assets and our team spread across Hong Kong, Taiwan, Singapore, and the U.S., we’ve decided to replace physical cash with cryptocurrency this year. Not only does it reflect our forward-thinking mindset, but it also sparks meaningful conversations around emerging technologies—making it a subtle yet effective internal communications strategy.
👉 Discover how easy it is to get started with digital assets today.
Why Send Cryptocurrency Red Packets?
Sending crypto as Lunar New Year bonuses isn’t just a novelty—it’s a statement. It shows your team that your company values innovation, global connectivity, and financial literacy. Plus, with cross-border teams becoming more common, traditional banking methods can be slow and costly. Cryptocurrencies like Bitcoin and Ethereum offer near-instant, low-fee transfers regardless of geography.
For startups aiming to build a tech-savvy, globally aligned culture, this small gesture can have a big impact.
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How to Buy Bitcoin: A Step-by-Step Guide
While there are many platforms available, peer-to-peer (P2P) marketplaces like LocalBitcoins provide a straightforward way to purchase Bitcoin using local payment methods. Below is a simplified guide to help startup founders send their first digital red packets.
Step 1: Choose a Seller
Visit a P2P platform such as LocalBitcoins.com (note: for demonstration purposes only). The interface allows you to filter sellers by:
- Purchase amount
- Payment method (e.g., bank transfer, PayPal, Alipay)
- Location
- Trade volume and reputation
Clicking the “Buy” button reveals detailed trade terms, including the seller’s preferred payment method and transaction limits. Always check user ratings and completed trades to ensure reliability.
Step 2: Contact the Seller
Once you’ve selected a trusted seller, initiate a chat through the platform’s messaging system. This secure channel lets you confirm payment details and ask questions before proceeding.
On one side, you’ll see the chat window; on the other, the seller’s contact and payment information. Never share personal details outside the platform.
Step 3: Make Payment
After agreeing on terms, complete the payment using the method specified—such as a local bank transfer. Once done:
- Click “I have paid” on the platform
- Upload proof of payment (e.g., a screenshot of the transaction)
The platform holds the Bitcoin in escrow until the seller confirms receipt of funds.
Step 4: Confirm Bitcoin Receipt
Upon confirmation from the seller, the Bitcoin is released to your wallet—a digital storage space for cryptocurrencies. Most platforms, including LocalBitcoins, offer built-in wallet services.
Navigate to your Wallet page to verify that the funds have arrived. From here, you can manage your balance or prepare to send Bitcoin to your team.
👉 Learn how modern businesses are integrating crypto into employee rewards.
How to Send Your Team a Bitcoin Red Packet
Now that you’ve acquired Bitcoin, it’s time to share the wealth—digitally.
Step 1: Collect Wallet Addresses
Ask each team member to set up a cryptocurrency wallet using a trusted mobile app (such as Trust Wallet, MetaMask for Ethereum, or any non-custodial wallet). Once set up, they can generate and share their unique receive address—a string of letters and numbers used to receive funds.
Ensure they double-check the address before sharing, as incorrect addresses may result in irreversible loss of funds.
Step 2: Send the Crypto
On your exchange or wallet platform:
- Go to the “Send” or “Withdraw” section
- Paste the recipient’s wallet address
- Enter the amount (e.g., 0.001 BTC or equivalent in ETH)
- Confirm the transaction
Each transaction incurs a small network fee (called a "gas fee" for Ethereum), which helps process the transfer on the blockchain.
⏱️ Transaction Speed Note: Bitcoin transactions typically take about 10 minutes to 1 hour to confirm, depending on network congestion. Ethereum transactions are faster—usually confirmed within 1–2 minutes.
Bonus Tips for Startup Leaders
Educate Your Team
Not everyone is familiar with crypto wallets or private keys. Consider hosting a short 15-minute onboarding session during a team meeting to walk employees through:
- Setting up a wallet
- Understanding public vs. private keys
- Security best practices (e.g., never sharing private keys)
You might even include a simple FAQ handout or internal wiki page.
Consider Stablecoins for Predictability
While Bitcoin and Ethereum are exciting, their prices can be volatile. For bonus payments where value stability matters, consider using stablecoins like USDT or USDC—digital currencies pegged 1:1 to the U.S. dollar.
This ensures your team receives exactly what you intended, without unexpected fluctuations.
Start Small, Scale Smart
Begin with a symbolic amount—like $20 worth of crypto per employee. It’s enough to create engagement without significant financial exposure. As your team becomes more comfortable, you can explore broader uses like:
- Quarterly crypto bonuses
- Token-based incentive programs
- Integrating crypto into equity compensation plans
Frequently Asked Questions (FAQ)
Q: Is sending cryptocurrency as a bonus legal?
A: Yes, in most jurisdictions—including Hong Kong, Singapore, and the U.S.—cryptocurrency can be used as a form of compensation, provided tax obligations are met. Consult a local accountant or legal advisor for compliance.
Q: Do employees need to pay taxes on crypto bonuses?
A: In many countries, received cryptocurrency is treated as taxable income based on its fair market value at the time of receipt. Employees should report this accordingly.
Q: What if someone loses their wallet or private key?
A: Unlike traditional banking, lost keys usually mean lost funds—with no recovery option. Encourage team members to back up their wallets securely and avoid storing keys digitally.
Q: Can I send different types of crypto to different team members?
A: Absolutely. You might send Bitcoin to some and Ethereum or stablecoins to others based on preference or regional accessibility.
Q: Are there cheaper alternatives to LocalBitcoins?
A: Yes. Centralized exchanges like OKX often offer lower fees and faster processing times for buying and sending crypto—especially for larger teams.
👉 See how businesses streamline crypto payments with advanced tools.
Final Thoughts
Adopting cryptocurrency for employee incentives isn’t just about technology—it’s about signaling trust in the future of finance and empowering your team with new financial tools. Whether it’s a Lunar New Year red packet or a quarterly performance bonus, integrating digital assets into your startup culture can boost engagement, foster learning, and position your company as an innovator.
Remember: always prioritize security, transparency, and education when introducing new systems. And while this guide uses LocalBitcoins for illustration, many modern platforms offer more efficient and scalable solutions for business use.
🛑 Disclaimer: The author and organization have no affiliation with LocalBitcoins.com. This guide is for educational purposes only and does not constitute financial or investment advice. Cryptocurrency investments carry risk. Please consult an independent financial advisor before making any decisions.