Up until a few years ago, many companies struggled to manage their payroll across different countries, leading to inefficiencies, high transaction fees, and unnecessary delays.

With the introduction of crypto payroll, however, they found the solution to all of these issues.

By leveraging platforms like Rise and Deel, businesses now possess the capability to manage and distribute payments effortlessly, ensuring timely and secure transactions.

But which platform is best?

Let's take an in-depth look below and find out.

Overview of Crypto Payroll

Crypto payroll signifies the growing trend of paying employees with cryptocurrencies such as Bitcoin or stablecoins, rather than traditional fiat currencies such as USD or EUR.

This is similar to hybrid payroll which allows employers to pay their global team members in crypto or local currency.

This innovative approach offers numerous advantages and has begun to reshape how organizations envision compensating their workforce.

Some benefits include:

  • Global Accessibility: Crypto payroll enables seamless cross-border payments, allowing employees to receive their salaries regardless of their geographical location without the need for traditional banking systems.
  • Lower Transaction Fees: Compared to conventional banking methods, cryptocurrency transactions often incur lower fees, making it a cost-effective solution for both employers and employees.
  • Faster Transactions: Cryptocurrency transactions can be processed much faster than traditional bank transfers, ensuring that employees receive their payments promptly.
  • Enhanced Security: Blockchain technology provides a high level of security and transparency, reducing the risk of fraud and ensuring that payroll transactions are secure.
  • Financial Inclusion: Crypto payroll can provide financial services to the unbanked or underbanked populations, offering them access to a reliable and efficient payment system.

Even more so, employees receiving compensation in cryptocurrencies enjoy several perks as well, such as liquidity and potential appreciation in value.

Now that we know what crypto payroll is, let's determine who does it best.

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Rise vs Deel: Full Features Review

Launched in 2019, Rise has quickly become the top name in the world of cryptocurrency payroll systems thanks to extremely low fees and a number of unique features that competitors like Deel simply don't have.

Deel is known for their work they do with traditional businesses, but are still lacking in many areas when it comes to crypto payroll.

Let's now take a look at some of the main features of each platform and compare them to each other:

Contractor Availability (For Crypto Payments)

Rise:

  • Available to global contractors in over 190 countries.

Deel:

  • Only available to US employees or contractors through Coinbase. Through BVNK international contractors are available.

Transaction and Platform Fees

Rise:

  • Only $2.5 on Layer 1 blockchains and FREE on Layer 2 blockchains per transaction
  • $50 per contractor per month

Deel:

  • Since Deel uses Coinbase for processing their crypto withdrawals, they have to charge 1.5% (flat charge of $5 USD for USDC withdrawals under $300, then 1.6% fee)
  • For digital currency transfers Deel uses BVNK, which charges a 2% service charge
  • With BVNK they also charge a flat $1 USD network fee (Only USDC or USDT) (Not available in US or UK)
  • Cross Border Transaction Fee: $5
  • $49 per contractor per month

Crypto Integrations

Rise:

  • Available through the following chains - Arbitrum, Avalanche, Optimism, Ethereum, Polygon, Uniswap (Ramp)
  • Available on the following wallets - Coinbase, Gnosis Safe, Metamask, MEW, Torus

Deel:

  • Only available on Coinbase

Cryptocurrencies Available

Rise:

  • USDT, USDC, or any ERC20 currencies (100+)

Deel:

  • Only USDT or USDC

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Deel vs Rise

Integration Capabilities

Rise Integrations

Rise integrates effortlessly with various popular third-party tools, ensuring seamless operational workflows for organizations leveraging their crypto payroll solutions.

Rise achieves a frictionless user experience, enhancing productivity and operational cohesiveness across diverse platforms.

With an extensive suite of API capabilities, Rise allows companies to synchronize their payroll operations with existing systems.

This integration reduces redundancies and optimizes the overall efficiency of payroll management.

Such strategic integrations empower businesses to maintain high adaptability, providing a streamlined operational experience, ultimately enabling stronger financial health and organizational alignment.

Deel Integrations

Deel offers integration capabilities that strategically enhance its crypto payroll services by connecting seamlessly with multiple enterprise-grade applications.

  • QuickBooks for efficient accounting management.
  • Xero to simplify invoicing and financial oversight.
  • Salesforce for streamlined client relations and organizational workflow.
  • NetSuite catering to complex enterprise resource planning needs.
  • ADP to enrich traditional payroll processes with modern solutions.
  • Google Workspace enhancing collaborative efforts.

Each integration is designed to facilitate smooth, real-time data exchange, ensuring consistent and reliable payroll processing.

Compliance and Onboarding

When it comes to compliance and onboarding, both Rise and Deel handle everything at a high level, but the main differences between the two platforms become apparent when we compare speed and methods of verification.

Rise

  • Onboarding complete in minutes
  • Automated onboarding
  • Verified on-chain identity (Rise ID) and KYC checks
  • Auto-generated service agreements
  • Tax forms gathered directly from the contractors
  • Verified SOC 2 compliant platform

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Deel

  • Onboarding complete in 3+ days
  • Automated onboarding
  • KYC checks
  • Service agreement templates
  • Tax forms gathered directly from the contractors
  • Verified SOC 2 compliant platform

Customer Support

Customer support is one of the most vital aspects of any service, and crypto payroll platforms are no exception.

Rise shines in providing exceptional customer support with a dedicated team of multilingual experts available 24/7 to address any queries or concerns.

Their support personnel are highly trained, ensuring users receive prompt and accurate solutions tailored to their specific needs.

We also have an extensive help center page where many of the most asked questions are answered.

Conversely, Deel also offers robust customer support through various channels, ensuring accessibility and responsiveness.

Their multilingual team assists users across different time zones, providing a truly global support experience. Additionally, Deel hosts regular live chat sessions and Q&A forums to foster user engagement and resolve any arising issues promptly.

In conclusion, both Rise and Deel prioritize delivering unparalleled customer support, making it easy for businesses to manage their payroll operations smoothly.

Pros and Cons: Rise

Pros

  • Available to contractors in 190+ countries
  • Hybrid payroll (crypto & fiat)
  • Integrations with many different blockchains and many different crypto wallets
  • Lower fees than Deel (only $2.5)
  • Doesn't rely on outside partners for transactions
  • Automated onboarding
  • Over 100 cryptocurrencies available
  • 24/7 support

Cons

  • Newer to the payroll industry (5 years old)

Pros and Cons: Deel

Pros

  • Available to full-time employees and contractors
  • Integrations with popular tax programs like Quickbooks
  • 24/7 support
  • Automated onboarding

Cons

  • Relies on Coinbase for transaction processing
  • Higher fees
  • Only USDT and USDC cryptos available
  • Other cryptos only available to non-US citizens

Best Crypto Payroll: Conclusion

When it comes to choosing the best crypto payroll it's clear that Rise stands out above Deel for multiple reasons, but especially since Rise's fees are lower and the platform offers hybrid payroll for contractors who want to get paid partially in cryptocurrency and partially in local fiat currency.

Deel is known in the payroll industry for being one of the best for traditional businesses, but they are still lacking too many features to be considered for crypto payroll.

Start using Rise for your crypto payroll today by booking a demo with Rise!

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