The coronavirus lockdown has drawn more attention to remote jobs, and more people now consider freelancing as an extra means of income. While there are freelance platforms that offer escrow services, working with clients on social media platforms without escrow leaves you to decide to consider your best payment options.
Another reason why freelancers consider direct payments is to evade the charges associated with payment on freelance platforms. For instance, if you work on Fiverr, the seller gets charged 20% on all payments received. The buyer also gets charged while making payment for a gig. While freelance platforms provide security for your funds and ensure that you don’t get scammed after work, many consider the charges extreme.
What other options can you consider as a payment gateway?
Why should you consider Crypto.com as a payment gateway?
Crypto.com is one of the fastest-growing and most reliable crypto exchange platforms. There are unlimited crypto options to consider, with the platform offering over 250 cryptocurrencies and 20 fiat currencies. To make it better, you can perform various tasks on the platform using your bank transfer and credit/debit card.
For freelancers, you should consider Crypto.com as a payment gateway because:
- You have multiple payment methods: crypto, fiat, bank transfer, and credit/debit card.
- The platform is very secure, so your funds will be safe.
- You can cross-link with other payment platforms like Transferwise.
- You can avoid loss in cash due to the difference in the exchange rate between banks and crypto platforms if you intend to invest in crypto with some of the money.
- Crypto.com offers some of the lowest fees when making crypto and fiat transactions.
How to collect fiat payments on Crypto.com?
The first option to receive payment through crypto.com is to use your fiat wallet. Your fiat wallet allows you to deposit fiat, purchase crypto, and withdraw fiat to your bank account. Popular fiat currencies include AUD, CAD, EUR, GBP, USD, and USDC.
With the fiat wallet, your clients can process payments from their bank account to your wallet after completing a job. To collect payment through your fiat wallet, you will be provided with bank account details, including IBAN and swift code. To receive payment in your fiat wallet:
- Click on “transfer” in your crypto.com app
- Select the “deposit” option
- Select “fiat”
- Click on the “set new currency” option
- Depending on your region or country, you can set up multiple fiat wallets. The most common options include USD, GBP, and EUR.
- Click on the fiat wallet you wish to set up and follow the screen prompt
- Once the setup is done, you will find your fiat wallet details.
How to collect cryptocurrency payments on Crypto.com?
Another option most freelancers consider for payment in recent times is cryptocurrency. The rise in popularity of cryptocurrencies makes everyone wants to have a bite of the cake. Also, cryptocurrency projects have worked on some of the best ways to process payments with little to no charges.
If you work with a crypto enthusiast client, you might consider collecting all payments in cryptocurrency. Crypto.com provides some of the easiest ways to receive and withdraw cryptocurrencies. To receive cryptocurrencies as payment:
- Click on “transfer’
- Select “deposit”
- Choose the “cryptocurrency” option
- Choose the cryptocurrency you wish to receive and select the right network.
- For instance, if you want to receive CRO, you will click on Cronos and copy the address based on the network you wish to use. If you select the Cronos network, you only have to copy the wallet address. However, if you choose the Crypto.org network, then you need your wallet address and Memo
How to link your Transferwise to your Crypto.com fiat wallet
Crypto.com also allows its users to collect payment by linking with other payment gateways. For this case, we are using Transferwise. If you have a client who loves to process payments through Transferwise, you can easily receive fiat payments in your fiat wallet. To receive fiat currency from Transferwise:
- Click on “transfer”
- Select “deposit”
- Select “fiat”
- Copy and send your “IBAN” and “Swift code.”
While this article is one way to exploit the Crypto.com app as a means of payment, it only considers the benefit for freelancers. Clients can also view it as a payment gateway to process payments for projects.