bitcoin

You’re a freelance writer, or content marketer, or digital assistant, and a client just asked if they can pay you in Bitcoin. After you frantically Google “Bitcoin” you may wonder whether or not you should say yes. While it’s always a little nerve-wracking to try something new, the advantages of accepting Bitcoin definitely outweigh the disadvantages. Consider that it doesn’t need to (and probably won’t be) the only form of payment that you’ll accept; be prepared as well that you may become increasingly interested in being paid in Bitcoin as you learn more about its advantages for you, both as a business owner and as an individual.

Easy to Set Up and Receive

You don’t need a bank account, you don’t need to worry about foreign transaction fees, and you don’t need to worry about waiting a long time to get paid. Bitcoin can be sent just as easily as an email, and you won’t need to deal with the same overhead costs usually associated with credit cards. While a small fee ensures that you’ll get paid quickly, you’ll still be saving a significant amount. You can get set up very quickly–it takes only a few hours to set up a payment API and link up your bank account. If you’re selling goods in person, then all you’ll need is a QR code so that customers can use their digital devices to send you their payment instantaneously.

No Worries About Fraud

If you accept credit card payments, then you know all about the hassle of chargeback fees, which usually result from fraudulent transactions. This is never an issue with Bitcoin since payments can’t be canceled or reversed once they’re processed. While Bitcoin scams do exist, particularly from websites promising free Bitcoin, you’ll find an equal number of scammers aligned with other payment methods. Educate yourself about reliable providers of Bitcoin wallets, exchanges, and mining operations, and avoid those that are unverified, and you’ll enjoy much less worry about potential fraud.

Increased Ease of Payment for Clients

Once you’ve chosen a great payment interface that’s highly user-friendly, your clients will be one step closer to wanting to pay you in Bitcoin. Sometimes, educating them that it’s an option is the first step–try a simple sign that says “Bitcoin Accepted Here.” Check out this helpful page on how to accept Bitcoin for small businesses and you’ll soon be on your way to giving your customers another way to pay you (and an extremely easy on at that).

Availability of Additional Freelance Platforms

Consider sites like XBT Freelancer, which offers Bitcoin-only transactions for clients and freelancers. All amounts are stated in USD for the sake of readability, but you’ll be paid in Bitcoin. The great thing about Bitcoin-specific sites is that you’ll be seeing opportunities that aren’t posted anywhere else. You may be getting compensated with cryptocurrency, but there’s nothing cryptic about the simplicity of doing work you’ll be paid for within hours of completion. Cryptogrind (which accesses the blockchain directly) and the Jobs4Bitcoins subreddit (on which you’ll find a staggering variety of job options–I noticed a client searching for a calligrapher) are other options you’ll want to check out if Bitcoin becomes your currency of choice.

William Lipovsky owns the personal finance website First Quarter Finance. His most embarrassing moment was telling a Microsoft executive, "I'll just Google it."

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