CLEVELAND — As digital currency becomes more mainstream, it’s becoming easier to diversify your wallet.
An app called Strike allows a portion of your paycheck to automatically convert to cyber currency.
Joe Tombazzi signed up after hearing some NFL players were receiving some of their pay in cryptocurrency.
“I thought, ‘Hey, that’s pretty cool,’” he said.
The Cleveland native and avid Browns fan works in information technology. He said he’s been interested in cryptocurrency since its debut.
“I just do a small percentage,” he said. “To me, crypto is still kind of more of an investment than an actual currency.”
The app provides a routing number and account number, like a bank, which is needed for the direct deposit. According to the app’s website, the dollars convert to bitcoin and are held by third-party financial institutions where it can be accessed.
“You get an alert as soon as you get your paycheck,” Tombazzi said.
He said signing up for the app has raised some eyebrows.
“If they like crypto, they think it’s a great idea,” he said. “A lot of people are more, you know, skeptical of it because they don’t really understand it.”
But Tombazzi said he’s always been into cyber stuff since he was a kid.
“I was always that guy,” he said. “‘Hey, my Wi-Fi’s not working or my printer’s not working.’ Family members would always come to me.”
He said he’s using the digital currency to hopefully cash in on the future.
“Some people invest in real estate, some people invest in stocks, IRAs, mutual funds,” Tombazzi said. “To me, it’s just another kind of avenue of investment and I think that one day it will turn into more of a currency that people will use.”
The use of bitcoin and cyber currency is growing as a form of payment. PayPal, Overstock.com, Starbucks and Whole Foods are among the large retailers now said to be accepting cryptocurrency.