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Here's how a Nashville SC striker and a Titans tight end get paid in crypto
CJ Sapong and Tommy Hudson have both opted to take a portion of their salaries in crypto
Nashville Soccer Club superstar striker, CJ Sapong and Titan’s tight end Tommy Hudson have joined the crypto craze. Both players have opted to take some of their salaries in cryptocurrencies.
But how are they getting paid if neither Nashville SC nor the Titan’s have a crypto coffer?
Both Sapong and Hudson use GetHedge — a crypto payment processing platform that automatically converts pay into Bitcoin, Litecoin and/or Ethereum — three of the most popular liquid cryptocurrencies. Liquid cryptocurrencies are cryptocurrencies that can quickly and easily be converted to cash.
CJ Sapong on GetHedge
Sapong, who currently receives 25-percent of his earnings in crypto, was one of the Nashville fintech company’s first adopters. He began using GetHedge in December 2021 during the startup’s beta testing.
The 33-year-old father of two says the platform is perfect for dollar-cost averaging — a strategy where an investor invests a total sum of money in small increments over time instead of all at once — and allows him to adjust his investments as needed.
The famous footballer favors Bitcoin and Litecoin. However, he likes Etherum for its NFT compatibility.
A self-proclaimed “nerd” Sapong, says he first started dabbling into the DeFi world back in 2017 — two years after he first heard the word Bitcoin.
“In 2015, I was traded by Sporting KC to Philadelphia Union,” says Sapong. “On my drive from Kansas to Philly, I stopped at a gas station to go to the bathroom and get something to eat. Inside some old guy approached me and started talking about Bitcoin. He kept telling me I should invest in it. I was tired and a little annoyed so I wrote it off.”
In 2017, as Bitcoin became more mainstream, Sapong started researching and soon investing. Then, just four years after “writing off crypto”, Sapong spoke at the 2019 Litecoin Summit. That is where he met David Schwartz, the CEO and a co-founder of GetHedge. Sapong says, “the rest was history.”
Tommy Hudson on GetHedge
Tommy Hudson just recently jumped on the GetHedge train. The Titan’s tight end began receiving a portion of his pay in crypto last month. He, like Sapong, touts GetHedge’s technology for dollar-cost average investing.
He too prefers blue chip cryptocurrencies — well established cryptocurrencies with higher liquidity and sizable market caps — like Bitcoin and Litecoin.
The former Arizona State tight-end started investing in cryptocurrencies during his freshman year of college (2016), using a portion of his college scholarship money. He watched his investments (Bitcoin, Litecoin and Ethereum) grow substantially in 2017.
Since then, Hudson has continued to invest in cryptocurrency. He says he heard about GetHedge from a friend at an Alliance Bernstein event a few months ago.
“I was attracted to the platform because of the potential to automate my investments, “ Hudson says. “It’s great for anyone who likes dollar-cost average investing.”
GetHedge is not exclusive to professional athletes. Anyone who receives a paycheck can use GetHedge.
Here’s how GetHedge works
First, individuals sign-up for a free GetHedge account. Creating an account is as simple as setting up a gmail account. Users will then be prompted to verify their ID. Once a user’s identity is confirmed, GetHedge provides him or her with a bank account which is solely to convert any money deposited into crypto.
Then, on their GetHedge profile, users will choose which cryptos they want their income converted into, as well as where they would like the converted crypto to land. The crypto can stay on the GetHedge platform where it can be moved off manually later or it can be sent to crypto wallets the user already owns.
From there the process works the same as setting up direct deposit with any other bank account. Users will input the bank account and routing number of the bank account GetHedge created for them into their payroll system. The employee can set the percentage of pay or specific dollar amount from their paycheck to be deposited. All of the money deposited into the account will be invested based on the user’s instructions
GetHedge was founded in April 2021 by David Schwartz and Paul Bradley.
Last year, the Nashville-based startup received pre-seed investments from Charlie Lee — the creator of Litecoin — and the founders of Blockbank, a cryptocurrency app.
Prior to starting GetHedge, Schwartz spent 25 years in HR for the military and the State of Wisconsin. He entered the crypto realm four years ago and began serving as the Director of Strategic Partnerships for the Litecoin Foundation — a non-profit organization created to help promote the awareness, adoption and education of Litecoin. He continues to serve in that role even as he builds GetHedge.
Bradley, a Nashville-native spent 25-years in the banking and fintech sectors developing transaction softwares and structures, prior to joining forces with Schwartz and founding GetHedge.
“GetHedge is proud to be a part of the stories of these professional athletes,” Bradley says. “However, we want people to know that you don’t have to be a professional athlete to use GetHedge. GetHedge can be used by anyone who receives a paycheck.”