From Nasdaq
May 2, 2025 8:02 am:

Cryptocurrencies are becoming a preferred payment method for freelancers, like Atikh Bana, due to high banking fees and exchange rate challenges in traditional financial systems. Transaction fees can range from 5% to 10%, impacting profits, while crypto transactions settle faster and cost less. Stablecoins offer stability and speed for international payments.

Freelancers, such as Bana, appreciate the faster payment processing times of cryptocurrencies compared to traditional banking systems, which can take up to five days for international transactions. Stablecoins provide better cash flow and financial planning for freelancers relying on timely payments, especially when working with international clients.

The flexibility of clients paying in stablecoins makes it easier for freelancers to receive payments globally without the barriers of traditional payment methods. Stablecoins pegged to the U.S. dollar, like USDC and USDT, offer the benefits of cryptocurrency with price stability, reducing concerns about volatility and sudden drops in value.

Security is crucial for protecting crypto earnings, with self-custody wallets recommended to control private keys and minimize exposure to exchange hacks. Freelancers should disperse funds across multiple wallets, stay vigilant against phishing attacks, and use secure hardware wallets for long-term holdings. Combining secure practices with crypto’s transactional benefits can help safeguard assets.

Freelancers in the gig economy are increasingly turning to cryptocurrencies for faster, cheaper, and more flexible payment options, bypassing traditional financial system challenges. Stablecoins offer stability and speed for international transactions, while security measures like self-custody wallets help protect earnings from potential breaches.

Read more at Nasdaq: I’m a Freelancer: Here’s Why I Prefer To Get Paid in Crypto