A pub worker says she has been paid bonuses worth thousands of pounds in cryptocurrency – and she hopes it will let her achieve her goal of buying property.
Jade Darby, 50, works in the The Potters Arms pub in Winchmore Hill, Amersham.
Along with all the pub’s workers, Darby is eligible for bonuses – but paid in the British cryptocurrency Koda, not cash.
The monthly bonus is paid out if the pub is doing well and the workers hit targets.
Darby, who is also a former national champion in dressage and a current coach, said she had around £2,500 of her own money in Koda before working at the pub, and now has around £6,500.
Darby has had four bonuses since joining the pub earlier this year, so that works out at £1,000 per bonus – but it’s more complicated than that in practice.
The £4,000 increase is partly down to the monthly bonuses, but also because the Koda cryptocurrency has been growing fast.
For example, today the currency is worth £0.0014 – but it has increased in value by 251% from three months ago, when it was worth £0.00041.
In other words, a £100 bonus in Koda three months ago would be worth around £350 today.
Darby said: “As and when we qualify they pay us in Koda for our bonuses. I have had four bonus payments since I have been there.
“It means a lot. It’s been super, and where would you get that sort of return anywhere else? I have a very good financial adviser and I spoke with him – he said by all means go ahead.”
Darby said for now she is leaving the pot in the hope it continues to grow.
If it does, she says it could be a life-changing sum of money.
“I have plans for that money,” she said. “I am in the process of buying a property. We have stables where we keep our horses and they need renovating. My ultimate goal is to be able to refurbish them with this investment.”
Pub owner Peter Gilbert, 46, said every member of his 25-30 staff had been offered bonuses in crypto – and all accepted.
He said it keeps staff motivated, but that is is also a way of giving something back.
“I pay my head chef and assistant manager the biggest bonuses and go from there,” he said. “But I even set the kitchen porters up a wallet. I pay everybody.
“I particularly feel for the younger generations. If you’re young the odds are so stacked against you if you want to buy a house – it’s too easy to be a lifetime renter.”
Gilbert now hosts investors events at the pub, where others come to learn more about digital currency.
In the future, Gilbert says he would like the pub to be able to take payments in cryptocurrency.
“I’m a big fan of cash and I would always want to keep it,” he said. “But cryptocurrency could be massive. Our staff love it. In the future I do want to be able to accept payments in cryptocurrency.”