As the demand for Web3 developers continues to grow, businesses are facing challenges in hiring and managing payments for these highly skilled professionals.
With teams increasingly spread across borders and the rising adoption of cryptocurrency, managing payroll and compliance efficiently is essential.
Rise offers a complete solution designed to simplify onboarding, compliance, and hybrid payroll for global teams, particularly those operating in the Web3 and crypto space.
In this article, we’ll explore how you can take advantage of Rise to hire, onboard, and pay Web3 developers, with a focus on automation, compliance, and hybrid payroll options.
How to Find and Hire Web3 Developers
Finding the right Web3 developer for your project is one of the most important steps in building a successful Web3 team.
While Rise doesn’t offer a talent pool for hiring, it excels in managing the administrative and financial aspects once you’ve identified the right developers for your team.
Here’s how you can streamline the hiring process:
1. Define Your Project Needs
The first step in hiring Web3 developers is identifying the specific skills and experience your project requires.
Web3 developers often specialize in areas like smart contracts, dApp development, and blockchain protocol implementation.
Clearly outline the technical stack (e.g., Solidity, Vyper, Rust) and blockchain platforms (Ethereum, Solana, etc.) your project will use.
This will help ensure that the developers you hire are well-suited for your technical needs.
2. Use External Job Boards and Networks
Use external resources like job boards, LinkedIn, or crypto-specific platforms such as CryptoJobsList or AngelList to find developers.
Once you’ve identified potential candidates, you can bring them to Rise for onboarding and management, which significantly simplifies the post-hire process.
How to Onboard Web3 Developers
Once you’ve hired the right Web3 developers, onboarding them efficiently is crucial.
The decentralized nature of Web3 projects often involves hiring from different parts of the world, which can lead to challenges around contracts, compliance, and payment methods.
Rise addresses these challenges by offering automated onboarding solutions.
1. Automated Contractor Onboarding with Rise
Rise streamlines onboarding by automating key steps that would typically require significant administrative effort.
Here’s how the process works:
- Service Agreements: Rise automatically generates agreements based on local laws, ensuring that contracts are compliant with jurisdiction-specific regulations.
- Identity Verification: The platform integrates Know Your Customer (KYC) and Anti-Money Laundering (AML) checks, ensuring secure and compliant verification of the developer's identity.
- Liveness Check and Face Match: Rise adds an additional layer of security by verifying the contractor’s identity through a real-time liveness check and face match.
Once onboarding is complete, contractors receive a unique ID and can select their preferred payment methods, significantly reducing the setup process for employers.
2. Save Time and Minimize Errors
By automating most of the onboarding process, Rise saves employers significant time and minimizes human errors that can occur during manual onboarding.
With compliance checks and legal agreements automated, the entire process is efficient, ensuring that your Web3 developers are onboarded quickly and accurately.
How to Pay Web3 Developers in Both Fiat and Crypto
One of the most complex aspects of managing a global Web3 workforce is payroll, especially when dealing with cryptocurrency.
Many Web3 developers prefer to be paid in crypto, but managing payments across multiple currencies can create operational headaches.
Rise solves this by offering hybrid payroll solutions that allow you to pay developers in both fiat and cryptocurrency.
1. Flexible Payment Options with Hybrid Payroll
Rise provides the flexibility to offer hybrid payroll, allowing Web3 developers to receive payments in their preferred mix of fiat and cryptocurrencies.
- Multiple Currency Options: We support over 90 local currencies and 100+ cryptocurrencies, including Bitcoin (BTC), USDC, and USDT. This allows developers to receive part of their salary in crypto and part in fiat, based on their preference.
- Payment Scheduling: Employers can set up customized payment schedules, whether it’s weekly, bi-weekly, or monthly, which align with both the company’s cash flow needs and the developer’s preferences.
- Mass Payouts: Rise automates mass payouts, minimizing manual input and errors, and ensuring that all payments are made on time.
2. Instant Access to Funds and Crypto Payments
Developers can instantly access their earnings through the Rise wallet, without intermediary delays.
This is particularly important for crypto payments, where timing and transaction speed are crucial.
In addition, smart contracts can be used to trigger payments automatically based on predefined conditions, further enhancing transparency and trust in the payment process.
Related: Crypto Payroll
Ensuring Compliance and Security in Web3 Payroll
Managing compliance for Web3 payroll is complicated, particularly when dealing with multiple jurisdictions and cryptocurrency payments.
Payroll errors and noncompliance can lead to penalties, which is why it’s essential to have a reliable system in place.
1. Automated Compliance with Rise
Risesimplifies compliance by automating many of the processes involved in managing a global workforce.
- Automated Tax Reporting: Rise automatically generates necessary tax forms such as 1099, W9, or W8BEN, ensuring that contractors are compliant with local tax regulations.
- Real-Time Compliance Checks: The platform continuously monitors compliance requirements in different jurisdictions, ensuring that both the employer and the contractors are following local regulations.
- Partnership with Sumsub: Rise partners with Sumsub to enhance the verification process, boasting a 94% approval rate and a median verification time of just 17 seconds. This reduces onboarding delays and ensures compliance is maintained across all jurisdictions.
2. Secure Transactions and Fraud Prevention
When dealing with payroll, especially involving cryptocurrency, security is paramount.
Rise uses multi-signature wallets and secure payment gateways to ensure that transactions are protected.
This minimizes the risk of fraud and provides peace of mind to both employers and developers.
Additional Features for Managing Web3 Developers
In addition to automating payroll and onboarding, Rise offers several other features that help manage Web3 developers more efficiently:
- Payment Scheduling and Reporting: Employers can set up custom payment schedules that align with their financial planning and easily generate reports for budgeting and forecasting.
- Automated Invoicing: The platform automates invoicing, eliminating the need for manual invoice generation and reducing errors in payment tracking.
- Healthcare Benefits: Through our partnership with SafetyWing, Rise offers discounted international healthcare benefits, making it easier to provide comprehensive healthcare coverage for your remote Web3 team.
Conclusion
Managing a global team of Web3 developers requires a solution that can handle the complexities of international payroll, compliance, and onboarding.
Rise excels in simplifying these processes, offering automation that reduces administrative burdens and ensures compliance across jurisdictions.
With the added flexibility of hybrid payroll, paying developers in both fiat and cryptocurrency has never been easier.
By using Rise, you can focus on building your Web3 projects while the platform handles the complexities of hiring, onboarding, and paying your team.
Book a demo with Rise today and streamline your global team management!
