Nowadays, cryptocurrencies are increasingly the subject of people’s interest. And we do not mean only those who are well acquainted with the digital world and the way these digital currencies work, but pretty much everyone wants to be a part of this story, because they see that it is our future. That is why more and more freelancers are choosing to be paid in cryptocurrencies whenever that option exists. Even company employees are looking for options to have at least part of their earnings in cryptocurrencies, in order to integrate into the whole process as soon as possible and find a way to increase their income over time.
Although getting paid in Bitcoin as a freelancer sounds quite tempting, we still do not suggest you take this lightly. Make sure you get informed first, have the whole picture in your head and then decide if this is what you want. To help you along the way, we share with you a few pros and cons of getting paid in Bitcoin as a freelancer.
What are some of the good sides?
1. You don’t have to deal with the bank
Definitely one of the biggest benefits when it comes to getting paid in Bitcoin is that you completely bypass the bank and don’t have to deal with it. For many people, this is a benefit that is quite enough to choose to earn in cryptocurrencies instead of standard money. This sometimes means that the amount of your earnings as a freelancer will not be reduced, and on the other hand, you will not have to wait for the bank to process your checks. In short: you don’t depend on them anymore and the speed at which they operate, but you get your transaction in the shortest possible time, which is amazing. You will receive your Bitcoins in just a few seconds, and then you can start thinking about what you want to do with them.
2. This is the easiest way to be active in the world of cryptocurrencies
Many want to be involved in cryptocurrency trading, but not everyone is ready to throw themselves into the action. Although having Bitcoin offers many benefits, it still requires you to deal with it on a daily, weekly and monthly basis, which takes away your time and energy. Some people just can’t stand it so they procrastinate and postpone getting the work done, even though they are aware that they are making a mistake. Getting paid in Bitcoin significantly simplifies the whole process and allows you to be active in the world of cryptocurrencies without any hassle. For many, this is exactly the push they need to invest time, energy and money in Bitcoin trading. If you can make it easy for yourself, why not do it. And the best thing is that you don’t need start-up capital to start investing in Bitcoin. Instead, you pay with your time, which is a better currency for some.
3. Getting paid more easily
One of the biggest challenges that freelancers face is certainly delayed payments and communicating with clients about when they can expect their payout, which is not at all pleasant. However, when it comes to getting paid in Bitcoin, the situation is greatly simplified. What is your job as a freelancer is to find an interface that is easy enough to use, so that the client can pay you very easily and in the shortest possible time. Once you achieve this, you will never want to go back to the old way of getting paid. You can read more here about the cryptocurrency software that offers an easy to use interface that will help both you and your clients to handle the payment part.
What are the setbacks?
1. You are susceptible to scams and hacker attacks
While getting paid in Bitcoin definitely has its advantages, one of the biggest setbacks is that you are vulnerable to scams and hacker attacks. In case your account is hacked and someone steals your cryptocurrency, there is no possibility to recover it, but your digital money is lost forever. Many are not willing to take this risk, so they still prefer to choose standard money payments.
2. You will need to learn how to use Bitcoin platforms
In order to start getting paid in Bitcoin you need to open an account, create a digital wallet and learn how to use Bitcoin platforms. While this does not require too much effort and time, the fact is that many are unfamiliar with the technology and for them all this is too complex. If you are one of them, you may want to think twice before asking a client to start paying you in cryptocurrency. Also, you will need to learn what options are available when you want to spend or convert your Bitcoin. Either way, you will have to go through a period of learning how to manage your cryptocurrencies, and some are simply not willing to take the time and energy to do so.
3. You still need to pay fees
Depending on which cryptocurrency platform you choose, you will have to pay lower or higher fees in order to use them. In some situations, it is not profitable at all to be paid in Bitcoin, because if you do not earn enough, you will spend a lot of money for this technical part, which then makes no sense. If you are just starting out and your earnings are not big enough we suggest you do your research and find platforms with lowest fees. In case this is too much of a challenge for you, you may need to think again about whether you really want to make money in the form of digital currencies.
Cryptocurrencies seem to be our future, so more and more people are looking for a way to get involved in this story. Freelancers today are increasingly thinking about asking clients to get paid in Bitcoin, which makes sense, but only when you have all the necessary information. We suggest that you educate yourself about the pros and cons of this option in time, and then decide which payment method makes the most sense to you.