Freelancers always face challenges while receiving payments. The most important one is not getting the exact amount from the clients in case of direct payments.
For instance, if you are a freelancer and using platforms like Fiverr, Upwork, etc. you know that 20-30% of your payments gets deducted by those networks right?
That’s the reason why today most of the Freelancers prefer payments via Cryptocurrencies from marketplaces where there is no extra fee involved.
For example, Freelanceforcoins.com is a place where you can find freelancers accepting payments via cryptocurrencies. The platform has opportunities for freelancers to find customers as well for their services and there is no risk of amount to be frozen.
With the rise in the gig economy culture, companies around the world are trying to find freelancers on-demand.
Hiring freelancers help companies in reducing expenses as they do not have to hire employees full-time and the work gets done efficiently as well.
Even employees are interested in working as freelancers as it offers more flexibility on the work and they are not forced to spend their whole day within their office spaces.
In the United States alone, more than half of the working population will be doing freelance jobs by 2027, as per a study by Edelman Intelligence.
Even though there are several platforms where you can find freelancers for pretty much any task, hiring them becomes difficult when it comes down to payments.
There are several restrictions, especially in case of international transactions, that may change depending on where you live and can severely limit the scope of hiring freelancers.
However, the introduction of cryptocurrency has improved the payment scenario for freelancers, and nowadays most of the freelancers demand their payment to be done in the form of cryptocurrency.
Let’s focus on other reasons why freelancers should prefer receiving payments via Cryptocurrencies.
Reasons Why Freelancers Love To Receive Payments Via Cryptocurrency
No Middlemen Fees
As blockchain technology forms the basis of cryptocurrency, it has a decentralized architecture, thus eliminating the need for any middlemen.
All transactions happen directly between the sender and receiver. No middlemen in transactions also mean that neither the sender nor receiver has to pay any middlemen charges or platform fee for processing the transaction.
Instant Transaction Processing
Unlike any other traditional financial transaction, cryptocurrency transactions are instant and reflect within the blink of an eye regardless of whether the sender and receiver are located.
Therefore, freelancers need not wait for days to get their payment reflected within their bank account.
Cryptocurrencies can be exchanged for other cryptocurrencies or fiat currency easily without having to face any hassles.
Moreover, freelancers can also consider their payments as an investment and convert it into fiat currency when the liquidity and value of their cryptocurrency rises.
Easier for International Transactions
Traditional payment methods become a massive headache when payments cross borders.
However, payments done using cryptocurrency are highly-effective especially in case of international transactions as none of the geopolitical rules apply for transactions done using cryptocurrencies.
Accept Gigs From Anywhere in the World
As there are no issues regarding international payments with cryptocurrencies, freelancers can accept gigs from any part of the world without worrying about any political or transactional matters.
Reduces Payment Fraud
An article on Forbes back in October 2017 pointed out that on average freelancers lose a minimum of $6000 per year because of clients not releasing payments.
Unlike other payment methods, transactions done using cryptocurrencies cannot be undone or reversed under any circumstances.
This reduces payment frauds as the sender cannot fiddle with a transaction once done, thus providing freelancers with confidence on their payments.
Seek Payments Based on Milestones
Freelancers performing time-consuming and highly-skilled tasks can demand payments based on milestones achieved.
Seeking payments based on milestones ensures that freelancers aren’t scammed after the entire work gets done and that they have a constant flow of income during their work progress.
From the above article, we have seen that cryptocurrency has a lot of benefits that make it easier for freelancers to accept gigs and get paid for their work.
As the gig economy takes center stage moving forward, companies and freelancers are inevitably going to make better use of cryptocurrency, and we can surely expect more innovation in this respect in the future.