Cryptocurrency? What is it and how do we mere mortals use it? Well, take a look at the basics HERE!
Some freelancers are using crypto as a way of protecting their income. Unlike credit cards or PayPal, you money is - at least for the time being - secure. The following article was written by someone who is a freelancer and know quite a bit about crypto! Enjoy!
Always open to discussion: Agree or Disagree! Let’s have it!
Is the Cryptocurrency Movement Failing Freelancers?
It’s nine in the morning. You have just arrived at the office, and even though it’s Monday, you are in high spirits. Then everything changes. Payroll calls. They regretfully inform you that you won’t be getting paid this month. Your high spirits evaporate, and your world is thrown into financial chaos.
To most salaried workers, the idea of sudden and inexplicable wage docking is inconceivable in 2019. However, if you freelance online, non-payment of invoices and earnings can be all too commonplace.
58% Of Freelancers Have Experienced Not Getting Paid
Payment problems faced by people who take up part and full-time freelance work online are so commonplace they have been covered by Forbes.
In part, the problem is psychological. Some freelance clients don’t see freelancers as real people. They, therefore, don’t hesitate to reverse or withhold payments when buyers remorse kicks in. However, non-payment issues experienced by freelancers predominantly arise because of increasing rates of credit card chargeback fraud.
Freelance job portals like UpWork, are ill-equipped to challenge the majority of credit card chargebacks
Payment processors like PayPal are aware of problems faced by freelancers but are not obliged to mediate payment disputes
What is bemusing, though, is the fact that alternative, 100% immutable payment methods, have been on the market for some time already.
It is Possible to Earn Bitcoin as a Freelancer - It’s Just Not Easy
When we talk about immutable payment systems, we’re talking, of course, about cryptocurrency.
Unlike with cash, credit card, and bank wire transactions, cryptocurrency payments aren’t reversible. For people who work online, the advantages are, therefore, self-evident. Sadly, though, only a tiny percentage of people who freelance online currently reap the benefits.
Why Cryptocurrency Freelance Platforms Don’t Work
At present, no cryptocurrency based freelance platform actively promotes the immutability benefits of cryptocurrency payments. Most also only support the use of specific cryptocurrencies when processing payments.
By limiting payment options in the way they do, it can be argued that platforms like Fivebucks and Ethlance, do not exist to benefit freelancers. Instead, it can be argued that they exist solely to encourage people to buy coins which they might otherwise have no interest in.
Is the Cryptocurrency Market Wasting a Once in a Lifetime Opportunity?
Proponents of cryptocurrency say that mass adoption of coins like Bitcoin is just around the corner. However, in the ten years since Bitcoin was created, it is strange how the same proponents haven’t sought to create a mainstream, legitimately user-friendly cryptocurrency based freelance platform.
A platform similar to Fiverr where client fiat cash payments could be instantly converted to cryptocurrency would skyrocket adoption rates among freelancers. The only question is, has this idea so far eluded cryptocurrency proponents? Or are most simply too self-absorbed by dreams of going to the moon one day?