Starting off as a freelancer can be quite difficult. To get a gig, you have to compete with thousands of other freelancers, and the worst aspect is dealing with clients who occasionally don't know exactly what they want to do. Nevertheless, these are still quite manageable, as opposed to the difficulties encountered when getting paid for a job well done.
Even though working as a freelancer offers me the freedom and chance to work on a variety of fascinating projects for businesses all over the world, it is no guarantee of receiving a regular paycheck each month, as I'm entirely responsible for ensuring that each client pays me in full and on schedule.
Unfortunately, I've had to decline or rescind job offers several times due to the hassle of being paid. Particularly from some high-paying clients who are situated in regions where my usual payment method is ineffective. On the other hand, even when I seek out various ways to convince these clients to pay, one of the following typically happens;
- The client can't get the verified on the payment platform
- The client doesn't want to cover the cost of the transaction fee
- The conversion charges for the transaction are usually too high
- The exchange rate to my home currency is not close to the market value.
All of these concerns must be addressed before accepting work offers from clients. In addition, it is exhausting because employment is numerous, but getting compensation is a barrier to accepting the job. Meanwhile, I have considered a handful of payment options and using the majority, if not all, has had some drawbacks, either for me personally or for my clients.
Payment Options For Freelancers
There are several ways that independent contractors can be compensated for their work. However, the client will only utilize what is convenient to make payment for the value obtained, regardless of what you may feel is optimal. Working with clients in different regions has therefore exposed me to various payment methods that these clients use. Here are a handful of the numerous choices:
Paypal is the most common and go-to payment option for most clients and in the freelance space. The service is available in several countries, and it supports multiple currencies. However, unlike my clients who use a regular Paypal personal account, I must have a Paypal merchant account to get paid. And, of course, merchant accounts pay different rates than personal accounts. In addition, Paypal charges a percentage of the transaction amount as a transaction fee for receiving payment from clients, up to 3.4%. And cross-border transactions have relatively high rates and a low conversion rate to my local currency. Therefore, at the end of each transaction, I tend to lose a fraction of my money to different charges, and withdrawing to my local bank still takes several days.
Transferwise is a payment platform that accepts many currencies and specializes in international transactions. Unlike PayPal, Wise charges reduced costs which is the key advantage, as it has a minimal transaction charge and a conversion rate close to the market rate. As a freelancer, this seems like the perfect platform for getting paid. But unfortunately, the service is not available in most countries.
Skrill is a digital wallet service provider specializing in online payments and money transfers. Skrill is popular among freelancers due to its minimal fees and no account deposits. However, clients get charged 1.9% of the transaction amount for every transfer, which varies by country. Also, Skrill charges a 3.99% currency conversion fee whenever I receive funds from clients in other countries. As a result, clients mostly ignore further discussion when the payment mode is Skrill.
Payoneer is another virtual payment platform that clients use to pay for services rendered because it accepts numerous currencies and is acceptable in several countries. Payoneer, on the other hand, is expensive; there are fees for withdrawals, deposits, and other transaction types. Furthermore, the conversion rate supplied is relatively low compared to the currency value, and the exchange procedure is slow. Transactions might take days to complete, and when there's a discrepancy in the value received, it is always a loss to me.
After trying all of these online payment platforms and still unable to find a universal payment method for my clients, I decided to attempt freelance platforms and work marketplaces to avoid the hassles of dealing directly with clients and let the platforms act as middlemen.
Freelance Platform and Its Challenges
Using freelance platforms to find clients has many advantages, but there are just as many (if not more) drawbacks. First off, there are limitations to working for clients in some locations because it is frequently off-limits to some freelancers. However, the 30% commission imposed on all revenue, despite being underpaid by clients on the platform, took me off the edge completely. And the main payment issue that drew me to the platform appears to be worse than I thought; despite the commission charged, I must wait at least 14 days to get paid of my earnings. Indeed, the grass isn't greener on the other side.
Fortunately, I worked on a 30-day project with a young client who recommended paying with cryptocurrency. But, of course, that wasn't the usual payment method I'm used to, and it certainly wasn't what past clients had suggested.
So, after further discussion with my client about how to use the technology and how I can get paid using it as a freelancer, I realized that I could leverage the new technology to get paid from every client regardless of where they are located, as there are no border restrictions or other issues peculiar with my regular payment method.
Therefore, my discovery made me research ways of accepting cryptocurrency payments. Interestingly, I discovered the Cwallet platform (previously CCTip), which allowed me to be paid with the cryptocurrency of my choice while also allowing clients to pay with the token of their choice from anywhere in the world without worrying about exchange fees.
Getting Paid With Cwallet
It was simple to get started using Cwallet. All I had to do was sign up using my social account, and my crypto wallet was instantly available; no email address, KYC procedure, or time-consuming verification process was required. Furthermore, once I had my crypto wallet, generating any address my client requested to be paid into was simple.
I had to copy and paste the address and amount to be received into the email invoice to be delivered to the client. Interestingly, Cwallet gives a link that takes my clients to the address page and a QR code that can be scanned with the expected amount already specified.
I've had control over my cash flow and transactions since I started receiving compensation through Cwallet, and payments are quickly available in my wallet. Furthermore, Cwallet does not impose any fees for deposits or withdrawals. As a result, I receive the exact amount paid for each job, with no loss owing to currency conversion from international payments.
You can also work with any client without concern of not being paid if you use Cwallet as your payment method. Create a deposit address and link it to your invoice, just like I did. Alternatively, you can easily create a QR code with the expected amount to receive and be paid seamlessly.
Cwallet does not charge any deposits, withdrawals, and token swap fees. Therefore, using Cwallet is absolutely FREE!
So, what are you waiting for?
Download Cwallet NOW, and join their telegram community to enjoy many exclusive benefits.