As virtual currencies, cryptocurrencies represent a digital representation of value that functions as a medium of exchange, a unit of account or a means of storing value, and in recent years have begun to rise as a global phenomenon. Because of their growing popularity and possible potential in the future, more employees in the world have become interested in them in the context of rewards. The use of cryptocurrencies as compensation became especially popular after the COVID-19 pandemic, when along with changes in the labor market, there were changes in the requirements of employees in search of the ideal job, salaries and benefits that suit them. Opportunities like these prompt compensation professionals to ask what innovative forms of rewards they can offer to their current and potential employees to make them more competitive and attractive in the labor market. It is precisely among these innovative forms of reward that the compensation with cryptocurrencies, mostly Bitcoin, is mentioned more often. Starting from the fact that there is an increasing focus on employee compensation in cryptocurrencies in the USA and South America, the aim of this paper is to investigate the possibility of compensating employees in Croatia with cryptocurrencies. Although rewarding employees with cryptocurrencies in Croatia is still quite unregulated, it is increasingly possible to see examples of various freelancers, receiving compensation in cryptocurrencies from organizations from other countries. Since the popularity of cryptocurrencies continues to grow, especially among the younger population in the world, it is possible to expect that it will very soon become a popular compensation tool in Croatia as well. This paper explains in detail what cryptocurrencies are, how they developed, what the cryptocurrency market is, possible applications of cryptocurrencies in business and the possibility of using cryptocurrencies to compensate employees in Croatia, the advantages and disadvantages of such a reward system and what are the potential legal restrictions. The paper investigates the perception of the citizens in Croatia about cryptocurrencies and whether they would be interested in receiving compensation in the form of cryptocurrencies.