Figure 1 Why Every Freelancer Should Have A Cryptocurrency Wallet – Photo by Tranmautritam from Pexels
Receiving payments for work as a freelancer via cryptocurrency is becoming a norm. Now, some freelance platforms have started to incorporate it as an accepted means of payment. These platforms have escrow services to ensure that freelancers don’t fall victim to fraud and get paid for the job done.
So, what does all this mean? Simple! as a freelancer, it is becoming more crucial than ever to have a cryptocurrency wallet. If you are still skeptical about opening one, let us take a look at some of the benefits you stand to gain from using this as a means of payment.
Benefits of Using Cryptocurrencies as a Means of Payment
Having a cryptocurrency wallet comes with numerous benefits, which is why more people are opening wallets today. Here are some of the benefits you enjoy when you use cryptocurrencies for payments.
Many freelancers deal with the problem of slow transactions at one point or the other. However, using cryptocurrencies as a method of payment helps to curb this. Freelancers can get paid without having to wait for a long time to reflect.
Cryptocurrencies like bitcoin are globally accepted. This means freelancers can work with anyone situated in any part of the world without worrying about payment issues or financial regulations. Freelancers can sell their services to a broader market base.
This is one of the major benefits associated with using cryptocurrencies. Today, many people, including freelancers, have fallen victim to hackers who use their information to steal their money.
This is non-existent when using cryptocurrency since you don’t have to reveal any personal information that can be used against you.
Lastly, cryptocurrency can help in making the job market decentralized. Freelancers will reach their clients without having to pay fees to intermediaries, thus saving them costs.
Ultimately, they can keep a larger chunk of their earnings to themselves and enjoy more benefits that come with freelancing.
Are There Any Drawbacks?
As with anything that is highly beneficial, there are some minor drawbacks to using cryptocurrencies for freelance payment.
The first is that some major freelance platforms have not started to incorporate cryptocurrencies as a valid means of payment.
However, with the constant rise in cryptocurrencies’ popularity, more platforms will likely include them in the future.
Also, many clients may not know that this option is a viable and reliable means of payment. This may cause them to be skeptical about using cryptocurrencies for payment.
Still, with time, as cryptocurrencies become more popular, this is something that might change. For now, you as a freelancer can inform your clients about the numerous benefits that come with this payment option.
What Should You Do?
As you can see, the benefits of cryptocurrencies outweigh the downsides. It saves cost, offers privacy, ensures fast payment, and lets you offer your services to clients all over the world.
Any freelancer serious about making it in the business must consider opening a wallet today.
If you still want more information to help you make a deliberate choice, click here to learn how does a cryptocurrency wallet work.