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How Freelancers Get Paid on UpMyChain
Are you new to freelancing or UpMyChain freelance marketplace? Do you want to know how you will get paid as a freelancer on the platform? This article is for you!
Freelancing is gradually replacing our traditional understanding of work. Even though freelancing is an effort-based economy, it is still booming. In 2019, the Freelancers Union released a research insight which reported that about 56.7million Americans work as freelancers. That's a pretty gigantic market force, don't you think? Well, I agree with them. Freelancers account for 31.4 percent of the worldwide workforce. There are over 1.2 billion freelancers in the globe that rely on the gig economy to make a living. Each year, the number of freelancers keeps adding up.
A lot of people are preferring to work from the comfort of their homes, delivering services to different clients across the globe and getting paid decently for each project milestone they complete. Find out more about this here. It is a whole new avenue for earning money online. Thanks to the many advancements in technology and the demand for remote workers by various employers and establishments. Finding freelance jobs from home has been simplified with UpMyChain, a freelance marketplace that connects employers to different skilled professionals and talents from across the globe. You can read more about managing burnout and stress as a freelancer here.
In this article, we will review the various payment options available for freelancers to withdraw their funds on UpMyChain and look at the future of payments in the freelance platform, notably the inclusion of crypto payment method.
Let's rock and roll.
Payout Options Available in UpMyChain
One of the first things you'll need to learn is how to receive your money from clients if you plan on freelancing in your career or are already doing so. Of course, freelancers deliver services to clients across the globe with one goal in mind - to finish a task and get paid. Depending on your situation, being paid as a freelancer can be incredibly gratifying or extremely irritating and dissatisfactory. Personally, I have been there before. Perhaps it is because they don't teach us that in schools. Well, that is a topic of discussion for another day. After successfully completing a milestone in UpMyChain, freelancers get paid via several payment methods.
So, how do freelancers get paid in UpMyChain?
1. PayPal
For freelancers, PayPal is a popular method of payment. Opening an account is free, and clients can pay you electronically as soon as you finish your task. Provide your PayPal ID if you choose to receive payments via this method. The major disadvantage is transaction charges. Expect to pay a 2.9 percent transaction charge plus $0.30 for any PayPal payments you receive. The funds arrive in your PayPal account almost instantaneously, and you may effortlessly transfer them to your bank account.
Transfers to your bank can take a long time unless you pay extra fees, but you can use a PayPal debit card to spend money right away from your PayPal balance. If you accept most of your payments through PayPal or other ways with similar costs, a little percentage may seem insignificant, but it can add up to hundreds of dollars each year or more.
2. Wise
Formerly known as TransferWise, Wise is a great option for freelancers who frequently request significant payments and work with clients from other countries. It sends money at real-time currency rates with no bank fees. For payments through Wise, you will need to provide your address, city name, country name, Zip code, and Swift BIC code.
They also provide online help and assistance available in multiple languages. Creating an account on Wise is free and Wise accounts have no borders. Thus, freelancers can receive money in over 40 currencies from different countries across the globe.
3. Trustshare
Trustshare is gradually gaining international recognition as a convenient payment solution. This platform, which is available in over 180 countries and growing, allows you to withdraw funds and deposit them into your local bank account with relative ease. To get your payments on UpMyChain via this method, provide your Trustshare account email address.
A major advantage is that Trustshare is exceedingly simple to use and accepted by several international businesses. However, this payment method comes with a significant card renewal cost if you choose to use the Trustshare debit Mastercard.
Let's look at what the future holds for freelancers who want to receive money in UpMyChain.
4. Cryptocurrency
When working with international clients and getting payment via PayPal or other payment methods, freelancers are frequently forced to accept unjustified exchange rates. The amount it deducts may appear to be less at first, but the figures add up quickly when tallied annually. As a result, freelancers all around the world are turning to cryptocurrency as a means of payment. The future of payment for freelancers on UpMyChain is tied around crypto.
Cryptocurrency is a type of digital currency that is extremely difficult to forge or counterfeit. When freelancers get paid in Cryptocurrency, there are no platform fees or exchange rates to contend with. Bitcoin, Ethereum and altcoins are popular cryptocurrencies traded across the globe. For payments via this method, provide your unique crypto wallet address. Freelancers on UpMyChain get paid via Cryptocurrency because of several reasons.
i. International transactions are convenient
ii. Fast payment processing
iii. Payment is accessible from everywhere across the globe
iv. Ease of exchange
v. Unique form of monetary investment
vi. Transaction privacy is guaranteed
The Bottomline
As a freelancer, provide a variety of options so clients can choose the one that suits them best. Ensure to make it as easy as possible for clients to pay you to avoid payment delays. To register on UpMychain and start making money as a freelancer, visit this sign up page.
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