The digital economy is expanding at an unprecedented rate. For some, the digital economy represents an alternative to their typical 9-5 work. Others have embraced freelancing because of the opportunity to work from anywhere and with any client.
Despite how promising the digital economy is regarding its opportunity for anyone to work as a freelancer from anywhere globally, it has its limitations. However, among the many difficulties freelancers face, receiving payment, particularly international payment, is the most unsettling.
As a freelancer, your services will be offered to clients from other countries, each with its own currency, exchange policies, payment platform, and complex transaction costs, making it difficult to receive your earnings without encountering difficulties.
Although multiple approaches have evolved over the years to address the challenges of receiving international payments as a freelancer, these approaches, mostly third-party payment platforms, have their own set of difficulties, such as exorbitant service fees, delayed payments, not being available in all countries, and a variety of other issues, leaving the average freelancer wondering, "How can I accept international payment without hassle?"
Seamlessly accepting international payments is more than just a convenience; it's critical to maintaining a steady cash flow and developing confidence with clientele distributed across borders. As a result, a payment system without border restrictions, delayed payments, and excessive transaction charges is required.
On the other hand, with the increasing adoption of cryptocurrency payments across several industries, accepting digital currencies in the freelance industry was unavoidable. Cryptocurrency evolved as an alternative monetary system that overcomes the challenges of cross-border transactions without relying on financial institutions while ensuring that common issues such as delayed settlement, high transaction costs, and other limitations do not exist.
So, cryptocurrencies answer the pressing question, "How can I accept international payment as a freelancer?". Why should you accept cryptocurrencies for international payments? How do you accept international payments with cryptocurrency?
Why You Should Accept Cryptocurrency As a Freelancer
Faster Transaction and Instant Settlement
Cryptocurrency transactions are processed faster than traditional payment gateway transactions, particularly for international payments, which typically have longer settlement periods. Payments are faster and near-instantaneous because cryptocurrency does not require an intermediary to process transactions, unlike traditional methods, which mostly require authorization and other verification. Freelancers can accept and receive international payments without waiting for days and incurring exorbitant fees thanks to the fast transaction and instant settlement.
Lower Transaction Fee
Traditional payment transactions often involve a third party or a central authority, which might charge up to 5% on each transaction and take days for payment to clear, eroding freelancers' hard-earned earnings and affecting the overall profitability of their operations. On the other hand, cryptocurrencies are instant transactions that eliminate these exorbitant transaction fees because transactions are peer-to-peer with no intermediaries. As a result, cryptocurrency payments feature a cheap transaction charge of less than 1% of the total transaction amount and an instant settlement rate, ensuring that international payments are processed in real time.
Global and Borderless Accessibility
Due to geographical limits and international payment regulations, traditional payment methods have major challenges. These constraints and limitations generally limit freelancers by making it harder to reach an international demographic of clients without restrictions. On the other hand, cryptocurrency is a borderless payment system open to anyone with internet access, no matter where they are in the universe. With cryptocurrency global and borderless accessibility, freelancers can conduct cross-border transactions and accept international payments without restrictions.
How to Accept International Payment with Crypto as a Freelancer
Cryptocurrency has established itself as an influential force in the financial sector. Here are different ways freelancers can accept international payments without hassle.
You must have a crypto wallet to receive cryptocurrency payments as a freelancer. A crypto wallet lets you generate a deposit address and send it to your clients along with the invoice. You can receive your international payment instantly without worrying about excessive exchange or transaction costs once you generate a deposit address with the cryptocurrency of your choice. Cwallet is a fantastic option to consider among the different crypto wallet services. It is simple to use, secure, and supports many cryptocurrencies, making it a fantastic wallet for novice and experienced users.
However, using deposit addresses presents a significant difficulty because it requires providing several deposit addresses to different clients. Keeping track of numerous addresses can be difficult, time-consuming, and exhausting. As a result, crypto payment gateways such as CCPayment provide freelancers with a simple and fast way to accept global payments via its invoice tool, eliminating the need to send multiple deposit addresses.
CCPayment Invoicing Tool For Freelancers
The CCPayment Invoice Tool is a game-changing tool that simplifies and solves crypto transactions between two parties, especially for freelancers and their clients or B2B transactions. The Invoice Tool is a user-friendly platform that allows freelancers to create professional and personalized invoices quickly and easily.
Creating a crypto invoice is a breeze with the CCPayment easy-to-use interface. Freelancers can easily enter vital information such as the client's name and email, business/brand name and email, invoice title, and invoice description. They can also select the currency in which the payment will be made, allowing them to serve clients from all over the world.
Quick Steps to Create CCPayment's Invoice
- Log in to your CCPayment account and select "invoice" from the left navigation bar to access the Invoice dashboard, where you can review all your invoice data and track the status of your invoice orders. Click the Create Invoice button in the top right corner of the screen to start a new invoice.
- Fill out the invoice information as prompted on the creation page. Details of the invoice and the payment token are derived from the payer's and merchant's contact information and emails. You can also customize the type of invoice based on your needs, such as one-time or recurring.
- Once you've created your invoice, you can view and manage it, monitor payments, set up reminders, and do anything else that makes a digital system necessary.
Adopting cryptocurrency as a means of payment in your freelance business protects your operation's future and streamlines international transactions. Crypto enables freelancers to handle foreign clients effectively and efficiently by minimizing common challenges associated with traditional international transactions, such as high fees and delayed transfer times.
As the freelance landscape advances, adopting cutting-edge solutions such as crypto invoices could be the key to thriving in a rapidly changing digital economy.
Don't be left out! Take your freelance business to the next level with crypto payments. Get started now!