Freelancers stop using Bitcoin to receive payment.

[Agbamoni]

In Nigeria over 22 million Nigerians mostly youths and teenagers use/own crypto. About 1 million are tech savy while more than 400,000 succeeding in remote jobs.

Yesterday we saw how all btc, eth and other crypto leverage traders where liquidated under few hours, imagine you were paid in Bitcoin how much value would be lost as of yesterday. Same yesterday a friend was in agony after receiving his payment he got from a paid gig. Now he has to wait until the price return back to the previous price. He is on huge loss.

This could be one reason why Upwork, Fiverr, and Freelancer.com dont accept crypto for payment as well with other reason best known to them.

What do you think of freelancer accepting crypto as payment option, do you think they are ware of the advantage and disadvantages of it?
Perhaps they are aware but choose to save in crypto or some just want to be part of the crypto network by owning a piece of it?

[Joy_learns_crypto]

Firstly most freelancing jobs are paid in Stable coin because it is best for freelancers and the client to easily calculate their pay in a more stable value, but in some cases freelancers can be paid in bitcoin but it must first be agreed on by the company and freelancers.
As one myself I don’t think you are in any lost if you are a freelancer that is being paid in bitcoin, even if the value of bitcoin dropped after payment it can go back to the value it was at the point of payment and even more. As a freelancers with multiple income or have set aside emergency funds earning in bitcoin is a good way to accumulate bitcoin.

[Dan Arewa]

There is nothing bad in accepting Bitcoin or any crypto as payment, it is a good for who ever is intending to embrace or accept bitcoin and crypto. If you want to invest, you don’t need to buy if you are getting paid with crypto you will only use another money and save your Bitcoin or any coin you paid with.

A freelancer changing his payment method is something I think isn’t proper; he have the choice to accept any payment method but why panic with just little market dump after knowing how volatile the crypto market is?
Patience is very important in crypto I think because those that panic and sold while the price of Bitcoin was around $109k are now regretting their actions since the price has moved further. Patience is the key.

[casey15]

For the most part, I do believe that USDT is enough for any gig payment for a freelancer especially in Nigeria... It's save you the trouble of losing money from market volatility... Even if Naira goes up against the dollar, the value doesn't drop as massively compared to Bitcoin or any other cryptocurrency.

[Orpichukwu]

If Bitcoin is the only way to receive payment from people you are rendering service to and you are so much worried about price the best thing to do is receive the payment and convert the coin immediately to to USDT or any fiat which you are more comfortable with, what happen to the market for not just affect those who receive payment in crypto even holders are crying bitterly it's something that can't be avoided as long as you are involved in crypto.

[Hyphen(-)]

If Bitcoin is the only way to receive payment from people you are rendering service to and you are so much worried about price the best thing to do is receive the payment and convert the coin immediately to to USDT or any fiat which you are more comfortable with, what happen to the market for not just affect those who receive payment in crypto even holders are crying bitterly it's something that can't be avoided as long as you are involved in crypto.

I understand why so many people are worried about these dump, maybe most of them are traders and people who are monitoring Bitcoin price to hit $125k or $130K before December, and most of them never experience such dump within short period of time. It is normal as far as you understand how volatile the market is. This should be an opportunity to buy more Bitcoin and I am very sure some people took advantage of these dump and have made some reasonable amount of money form this market conditions.

This is to remember us that we should invest the amount we can afford to lose, and to also avoid taking loans to invest in Bitcoin so that such dump will not affect us and we can be patient to wait for the market to bounce back.

[Callido]

What do you think of freelancer accepting crypto as payment option, do you think they are ware of the advantage and disadvantages of it?
Perhaps they are aware but choose to save in crypto or some just want to be part of the crypto network by owning a piece of it?

They are aware of the risk, just the same way as those who takes loan in cryptocurrencies. Even if you were paid in Bitcoin yesterday the only problem there is watching the value of your asset fall drastically. Only traders were affected by the price incident that occured yesterday, investors with long term goals don't stand to lose a dime from their investment, $104K as of yesterday, $112K today and in the future the price will kick off to a new ATH, that's the power of holding and what every investor should adapt.

Most freelancers are paid in stable currency, even if they are paid in crypto most of them sell at an instant and it is mostly paid equivalent to a particular price.

[promise444c5]

Depends on the gig and project I work on, but I do have a friend who receives payment mostly in tokens that run on the Ethereum blockchain. It depends on what the company prefers for payment to him … it could be Arbitrum (mostly.) ,he then converts it into stablecoin before withdrawal.

The dump didn’t happen within seconds but over several hours. Most people receiving payment will usually withdraw instantly if they are not investing,unless they choose to wait for more profit, which is a short-term investment  and in such cases, anything could happen since the market doesn’t move in one direction.
so there’s nothing wrong with receiving payment will in BTC,eth… and if they don’t want that they can specifically request to be painf in usdt if the client agrees

[goldkingcoiner]

In Nigeria over 22 million Nigerians mostly youths and teenagers use/own crypto. About 1 million are tech savy while more than 400,000 succeeding in remote jobs.

Yesterday we saw how all btc, eth and other crypto leverage traders where liquidated under few hours, imagine you were paid in Bitcoin how much value would be lost as of yesterday. Same yesterday a friend was in agony after receiving his payment he got from a paid gig. Now he has to wait until the price return back to the previous price. He is on huge loss.

This could be one reason why Upwork, Fiverr, and Freelancer.com dont accept crypto for payment as well with other reason best known to them.

What do you think of freelancer accepting crypto as payment option, do you think they are ware of the advantage and disadvantages of it?
Perhaps they are aware but choose to save in crypto or some just want to be part of the crypto network by owning a piece of it?

I accept BTC and I have made much much more than the 10% we fell down yesterday. We could fall down another 20% and I would still have more money than if I had taken the payment as fiat.

So I think your recommendation of not using Bitcoin as payment is a misstep for those platforms and businessmen.

It is important to have a long-term mindset not a cash-out-everything-now mindset.

And even if you do get paid in BTC, you can cash out for fiat immediately anyway.... What is the issue? I see no disadvantages.

[Dr.Bitcoin_Strange]

You know, there are some persons that says that they want to be earning Bitcoin for free without purchasing it, they actually signed up for Bitcoin payment, so some of them are not complaining despite the fall because they probably knows better and perhaps wants to hold their Bitcoin for a long period of time,  for people that doesn't know about the risk, they could change payment option to usdt.

[Y3shot]

Yesterday we saw how all btc, eth and other crypto leverage traders where liquidated under few hours, imagine you were paid in Bitcoin how much value would be lost as of yesterday. Same yesterday a friend was in agony after receiving his payment he got from a paid gig. Now he has to wait until the price return back to the previous price. He is on huge loss.

Whoever earns in Bitcoin and is not ready to hodl Bitcoin for the future, I see no reason why the payment should still remain in Bitcoin. Bitcoin is very volatile, and it would be best for anyone who is not ready to hodl Bitcoin to keep it.

There are stablecoins to convert your Bitcoin to, or if you don't prefer stablecoins, you can convert it to local currency. I don't think the fall of Bitcoin is a problem for every freelancer or those who are earning in Bitcoin. If you are earning in Bitcoin, there are two options based on what you want: either to hodl if you want, but if you don't, it is better to convert it.

[SuperBitMan]

I think this is one of the disadvantage of accepting your salary in Bitcoin however let's not forget the advantage of also accepting money in Bitcoin there was a day when I was paid in Bitcoin so before I woke up Bitcoin increased that night so waking up and checking my wallet my money increased I was very happy, if you are accepting your salary in Bitcoin just know that it can either go down or rise in price because bitcoin is highly volatile in nature meaning it increases and decreases every minute.
If you cannot handle the volatile nature of Bitcoin when you receive your salary then you can go for stable coin like USDT, I'm very sure some Freelancers accept USDT because is a stable coin and some still accept Bitcoin, everyone has their own choice some can accept some May no accept it depends on the person.

[Promocodeudo]

You know, there are some persons that says that they want to be earning Bitcoin for free without purchasing it, they actually signed up for Bitcoin payment, so some of them are not complaining despite the fall because they probably knows better and perhaps wants to hold their Bitcoin for a long period of time,  for people that doesn't know about the risk, they could change payment option to usdt.

You're right, i think I will advise that before anyone consider any mode of payment be it ik freelancing job or any other job although I know that situation like this are always common in freelancing job, such person should choose the one he or she is comfortable with if he was given option to do so, just as you've said people that understands the importance of hodling Bitcoin for a long-term and wants to hodl can accept their payment in Bitcoin, the only thing here is understanding and being ready to accept whatever comes after that's just the thing, Bitcoin is known as a fluntuation controlled asset which I believe that anyone going for it should be much aware of that fact.

[Ronsbit]

There is nothing bad in accepting payments in Crypto, but it is good to be sensitive and alert to the market trends so that you could easily know the market directions and act swiftly. Maybe they could split their Bitcoin payment when received accordingly that it doesn't affect you as a worker as you will have bills to pay and other stuffs to settle. You can save some portion of it based on your own plans and live it for a long term while continuing to receive your payment in Bitcoin as usual.

[Makus]

In Nigeria over 22 million Nigerians mostly youths and teenagers use/own crypto. About 1 million are tech savy while more than 400,000 succeeding in remote jobs.

Yesterday we saw how all btc, eth and other crypto leverage traders where liquidated under few hours, imagine you were paid in Bitcoin how much value would be lost as of yesterday. Same yesterday a friend was in agony after receiving his payment he got from a paid gig. Now he has to wait until the price return back to the previous price. He is on huge loss.

This could be one reason why Upwork, Fiverr, and Freelancer.com dont accept crypto for payment as well with other reason best known to them.

What do you think of freelancer accepting crypto as payment option, do you think they are ware of the advantage and disadvantages of it?
Perhaps they are aware but choose to save in crypto or some just want to be part of the crypto network by owning a piece of it?

the reason i think these freelancing platforms don't accept crypto is the fact that these are global platforms where people from entirely different region meet to give jobs and offer services, and not every country has accepted to use bitcon, for instance there are countries with crypto restrictions, like our country once did. now imagine a scenario whereby the client choose to pay with crypto meanwhile the service provider has crypto restriction from their country, that would definately make alot of qualified persons to miss out the opportunity. Maybe when crypto gets overlly famous and becomes globaly accepted we'll havemore platforms accepting it as a means of payment.

[Iroh]

Whoever uses and accepts payments with bitcoin ought to know the risk involved.  I'm sure they're aware of the possibility of receiving their payments in stable coins but still choose to use bitcoin.
Looking at the bright side, if you continue taking your payments in bitcoin for whatever gig you do at the current rate, you're sure to have some little profit when it rises again. It would surely rise higher again. That should be solace to anyone. Also, if you're holding bitcoin for the long run, this recent dip in price shouldn't really bother you.

[Sammye3]

The market is known to be very volatile with ups and downs mostly based on news and other fundamentals so it's normal to expect such sudden decrease of Bitcoin's price. But I don't see anything wrong in getting paid in Bitcoin as it could also be profitable over time, but if you would be needing urgent trade to solve problems, it's best advisable to convert to USDT immediately which is stable so you don't lose your money because of Bitcoin's price fluctuations.

It depends on what works best for both parties in question?

[Su-asa]

In Nigeria over 22 million Nigerians mostly youths and teenagers use/own crypto. About 1 million are tech savy while more than 400,000 succeeding in remote jobs.

Yesterday we saw how all btc, eth and other crypto leverage traders where liquidated under few hours, imagine you were paid in Bitcoin how much value would be lost as of yesterday. Same yesterday a friend was in agony after receiving his payment he got from a paid gig. Now he has to wait until the price return back to the previous price. He is on huge loss.

This could be one reason why Upwork, Fiverr, and Freelancer.com dont accept crypto for payment as well with other reason best known to them.

What do you think of freelancer accepting crypto as payment option, do you think they are ware of the advantage and disadvantages of it?
Perhaps they are aware but choose to save in crypto or some just want to be part of the crypto network by owning a piece of it?

Accepting Bitcoin as payment is not even a bad ideal for a freelancer. The only thing there is that when you are paid and Bitcoin dips the value will stop a little bit. But truth be told that you will remain your loss if you are patient to hold. Although people who mostly benefits from holding Bitcoin are mostly the holders.
However, for someone who's not ready to hold invest or hold their Bitcoin payment, getting paid through stable coin like USDT or USDC is also a good idea.

[Hatchy]

Cryptocurrency makes system quite accessible and easy to use. Many remote jobs actually pays in any cryptocurrency of your choice and it depends on you to pick the one you choose to use. The markets volatility nature would force many to choose stable coins over any other crypto especially bitcoin. Though it's actually a good way to invest in bitcoin without spending any dim on purchasing it. If you are holding the coins like ever other person does, the markets going crazy won't be much of your concerns. You just have to wait for the time when price returns above to the price which you received the coins. If youre the type that gets scare during dips, it's better to get your coins out and into stable coins..

[Donneski]

This topic really spoke about what many Nigerian freelancers are quietly facing. I’ve seen people celebrate crypto payments one day and regret it the next when the market dips sharply. It’s painful, especially when that money was meant for urgent needs.

I think most big freelance platforms already know the pros and cons, they just choose to prioritize stability and user protection. Maybe one day, when crypto becomes more stable or better integrated with local banking systems, they’ll change their stance. But until then, freelancers have to be smart by either converting quickly or use crypto only as an optional savings method not their main source of income.