8 Reasons Why Crypto Payments Are Beneficial For Freelancers
Web3 has emerged as a spring of opportunities for freelancers since 2017. If you've been freelancing for a while, chances are you've been approached by clients suggesting payment in cryptocurrency. Yet, like any new and unfamiliar territory, you may find yourself hesitant to dive in to crypto payments for the hard work you've invested in your projects.
However, cryptocurrencies can play a crucial role in facilitating the future for freelancers, dismantling barriers and granting freelancers unparalleled freedom. If you're still unsure about adopting this payment method, we invite you to discover the 8 advantages of crypto payments for freelancers
1. Universal & Cheap Payments
As a freelancer, your ability to attract clients from around the world relies heavily on digital channels. Cryptocurrencies offer a universal, faster, and often more cost-effective payment solution—especially when it comes to receiving or sending larger amounts across borders.
The beauty of crypto payments lies in their freedom from geographical limitations. Regardless of location, crypto payments can be conducted as long as there is an internet connection. This enables freelancers to access a global market and cooperate with clients from any country.
Besides, conventional cross-border money transfers tend to incur high fees and commissions. In contrast, cryptocurrency transactions are not only swift but also suggest low fees, regardless of the transaction amount. Cryptocurrency payment services impose commissions at their own discretion, allowing users the freedom to accept or reject their terms.
2. No Intermediaries
Cryptocurrencies are built upon the revolutionary technology known as blockchain, enabling transactions to occur directly between parties without the need for banks or intermediaries. The blockchain operates without centralized authorities, governed solely by code and decentralized participants. In this decentralized environment, every transaction takes place directly between the sender and the receiver. Moreover, when you receive crypto payments, there are no intermediaries involved who would deduct a percentage, unlike with the credit card payment method. This grants users full control over their assets, allowing them to utilize them as they see fit.
3. Global Crypto Adoption
Bitcoin, as the leading cryptocurrency, offers a wide range of possibilities and stands out for its versatility. It has become increasingly popular as a means of exchange, allowing you to purchase a wide range of items online.
If you're concerned about being an early adopter of an emerging payment method, rest assured that the landscape is changing rapidly. According to cryptocurrency market analysts, in 2021, cryptocurrency accounted for $6.10 billion worth of transactions worldwide, up 177.3% from $2.20 billion the year before. Come 2023, crypto transaction value will hit $16.16 billion as more businesses accept these digital currencies as payment. It means that the market carries good prospects for the future growth.
4. Enhanced Security
Compared to payment methods like credit cards, cryptocurrency payments offer enhanced security. When you receive payments in crypto, the funds are stored in a digital wallet secured by a private key. Network validators have a strong incentive to ensure that assets can only be controlled with a private key. While it might be possible to deceive a few validators, manipulating a transaction to completion would require tricking the majority of validators in a global network. Your private key is exclusive to you, and as long as you keep it secure, your funds remain safe from theft thanks to modern encryption technologies.
5. Privacy & Anonymity
In the present day, privacy has become a vital factor that affects the security and freedom of users in online networks. In contrast to traditional financial systems, crypto users have greater control over their personal and financial information. The risk of identity theft is significantly lower for individuals utilizing crypto compared to those using other digital payment methods like fiat currencies and credit cards. Cryptocurrencies impose limitations on transaction data, providing users with increased privacy. When a transaction takes place, only limited information is revealed, such as the transaction ID and wallet address. The cryptocurrency payment processor may require your name and address, but no further details are shared with any third parties.
If you wish to accept crypto and prefer not to share your sensitive data, the Plisio cryptocurrency gateway is a great choice. Plisio doesn’t require any KYC procedures and helps get started with cryptocurrency whether you’re are a business owner or a freelancer. The platform focus is the on the clients’ anonymity and service convenience, so there you will find a wide range of useful tools and integrations for your business.
6. New Markets
Digital assets also offer the opportunity to represent various assets, including gold or stocks, thereby granting the general public access to otherwise inaccessible markets. Embracing cryptocurrency payments also opens up freelancers to an entirely new market of technologically inclined clients seeking to pay with digital assets.
7. Tax Benefits
While some jurisdictions treat cryptocurrencies as investment assets, thereby subjecting those to capital gains tax, numerous countries are still in the process of developing regulations and tax guidelines. By considering your location or business operations, adopting cryptocurrency payments can potentially result in tax savings.
8. Stablecoins as a shield from volatility
Stablecoins refer to cryptocurrencies that are tied to national fiat currencies, such as the US Dollar, 1:1. They offer all the advantages of traditional cryptocurrencies while minimizing the volatility commonly associated with them. Freelancers can greatly benefit from accepting payments in stablecoins due to their consistent and predictable value, unlike other cryptocurrencies that can exhibit significant fluctuations.
By accepting stablecoin payments, freelancers can effectively eliminate the risk of losing money resulting from currency value fluctuations. Furthermore, stablecoins can be readily converted into various currencies, ensuring convenient access to their earnings for freelancers.
In situations where the domestic currency of a freelancer's country is experiencing a decline in value compared to stronger foreign currencies, stablecoins present an ideal solution for safeguarding their earnings against currency devaluation.
How to Start Accepting Crypto as a Freelancer
If you’re looking to accept cryptocurrency as a freelancer, you will need a cryptocurrency payment gateway. The Plisio platform offers various cryptocurrencies to work with, as well as the lowest fee on the market of 0.5%. Let’s find out how to accept crypto through the Plisio cryptocurrency payment gateway:
1. Create an account: Sign up for an account on Plisio. Provide the necessary information and complete the verification process, if required.
2. Use Plisio Donation page to accept crypto payments: Customize your Donation button, QR code, link and custom design to create your own Donation page and accept any crypto.
3. Or, set up the payment gateway: Follow the instructions provided by the Plisio payment gateway to integrate it into your website or e-commerce platform. The API integration is quite simple and doesn’t require excessive coding knowledge.
4. Choose a payment option: Within the Plisio gateway settings choose Bitcoin, Ethereum, Litecoin or any other crypto you wish to accept as payment.
5. Display payment options: Update your website or e-commerce platform to display selected crypto as a payment option during the checkout process. This could involve adding payment buttons or widgets that you can find on Plisio.
6. Test transactions: Conduct test transactions to ensure that the payment gateway is working correctly.
7. Secure your funds: You can use the Plisio free cryptocurrency wallet to manage and store your funds safely.
It is time you changed your perspective of crypto. With cryptocurrency, you not only create a new image of yourself, but also raise your revenue. Give it a try!
Please note that Plisio also offers you:
- Zen Cart
- Easy Digital Downloads
6 libraries for the most popular programming languages
19 cryptocurrencies and 12 blockchains
- Bitcoin (BTC)
- Ethereum (ETH)
- Ethereum Classic (ETC)
- Tron (TRX)
- Litecoin (LTC)
- Dash (DASH)
- DogeCoin (DOGE)
- Zcash (ZEC)
- Bitcoin Cash (BCH)
- Tether (USDT) ERC20 and TRX20 and BEP-20
- Shiba INU (SHIB) ERC-20
- BitTorrent (BTT) TRC-20
- Binance Coin(BNB) BEP-20
- Binance USD (BUSD) BEP-20
- USD Coin (USDC) ERC-20
- TrueUSD (TUSD) ERC-20
- Monero (XMR)