If you are or want to be a freelance content creator who works with international clients remotely, you should read this post. Because in it, I have explained my reasons for becoming a crypto friendly or maybe even a crypto first remote content creator. They’ll give you a clearer picture so you can make your own decision.
TL;DR
- Financial institutions are not built for regular people
- Banking problems have become a real barrier to entry for freelance content creators
- Accepting crypto payments as content creator will close some doors, but it can also simplify things
- Spending, price swings and the possibility of getting hacked are the real problems you should keep in mind when using crypto
- Choose the right wallet, the right blockchain and the right token to make things safer and easier
Read more: Freelancing vs. Full-Time Employment: Which One Is Better for Creative Professionals?
I’m sitting in a hotel-room in Istanbul right now. Left my home country of Iran, thinking I’ll have an easier time without the sanctions limiting my every move. But after opening a bank account in Turkiye, I’ve discovered that crossing a border doesn’t automatically remove financial friction. I’m still from Iran, I’m still in the middle east. And these frictions are not an accident, they’re part of the design.
When I was in Iran, crypto was the only option for accepting payments from international clients. That fact, limited who I could work with. I thought I would choose a different path after immigration. But these last few weeks have made me rethink that strategy.
Two international swift transfers made. None of them has cleared so I can sign the contract and move into my new apartment. Each day of staying in a hotel, decreases my runway for establishing a presence here in Turkiye and online. It’s been 10 days, and I’ve been rethinking everything in that time.
The Problem for Me and Many Other Freelancers
International financial systems are optimized for large institutions and established customers (i.e., rich people). Because all my business in a year wouldn’t compare to a millionaire’s business in a week. And at the end of the day, banks are there to make money, not to serve everyone.
But the thing that really bugs me is this: I feel like they’re actively working to make my life harder. And it takes a lot of mental energy to get over that feeling.
Here’s the problem: I’m a creator. That’s my purpose in life. I understand that running a business means dealing with a lot of admin stuff. But this is not that. This is the international banking system giving me the middle finger instead of working for me.
And a lot of other creators feel like this, especially the ones from a middle eastern country or living in one.
If you can’t plan your finances, being a freelancer can become a lot harder than it’s supposed to be. We deal with a lot of uncertainty. Finding clients is a part of that uncertainty. But receiving payments form the work you’ve already done shouldn’t be.
Read more: A Freelancer’s Survival Guide: Pricing and Getting Paid on Time
Why Crypto Can Be the Solution
At its best, crypto can make financial transactions fast and reliable. It can enable you to receive your payments literally minutes after you send an invoice.
It can be fast, with little to no extra cost for moving your funds. But only if you choose the right tools.
While a SWIFT transfer can keep you waiting for days or even weeks in my case, crypto can deliver in minutes. While many platforms like PayPal require extensive personal information (KYC) and can freeze your funds for no real reason whenever they -or their automized systems- want, crypto offers a trustless decentralized system with full control.
While many services are unavailable to you because of where you were born or where you live, crypto is available to everyone. You may need to work around big exchanges and centralized services that require KYC. But in the realm of crypto, where there is a will, there is usually a way.
Potential Problems
First, you may have some problems with spending crypto. You generally can’t buy groceries with crypto. Although there are ways like crypto debit cards I want to explore, it can’t completely replace your bank account.
You need a bridge. And that’s where the institutions try to take back control from you. So you should think long and hard about the tools you choose and the systems you build to keep control of your finances.
Another problem is the constant swings in the price of cryptocurrencies. You should think about what tokens you want to use and keep.
Getting hacked is another problem to keep in mind. The best protection is keeping large amounts in a hardware wallet rather than an exchange or even software wallet, and never sharing your seed phrase with anyone or any platform.
The Right Tools
1. Wallets
First, you need a reliable wallet. I recommend having one software and one hardware wallet. The first for short-term, and the second for long-term holding.
For software wallet, look for an option that has a proven strategy for securing your funds and protecting it from hackers.
I personally use trust wallet right now. But whichever wallet you choose, focus on security, reputation, and backing up your recovery phrase properly.
If you’re going to keep cryptocurrencies in your wallet for a long time, I’d lean more toward hardware wallets like Ledger. (This is an affiliate link. If you click the link and purchase anything from Ledger’s website, I’ll get a commission without any extra costs for you.)
2. Blockchains and Tokens
You need to protect yourself from extra costs (mainly in gas fees) and price swings. I wouldn’t touch meme-coins, but lean more towards receiving payments in stablecoins like USDT, USDC and DAI, and converting some into Bitcoin and Ethereum for long-term holding.
But beware that centralized stablecoins like USDT can be frozen just like the money in your bank account.
The blockchain choice is important too. It should be easy to access for your clients, while offering low-cost transactions. You can try Tron, Binance, Polygon and Arbitrum. Then choose whichever seems easier and more convenient to you.
3. Crypto Debit Cards
As I said earlier, I’m currently exploring this option. Because it offers the best of both worlds. But I can’t make a clear suggestion yet, since I haven’t used any of the crypto cards available.
I’ll update this section later, when I have enough experience and information to offer.
Read more: How to Find Clients as a Freelancer: 5 Proven Strategies
Last Words
I don’t think crypto can completely replace banking systems, at least not right now. But what it gives me is optionality: another way to receive payments and move money. And it reduces my dependence on a single system.
Maybe you don’t feel the need for that redundancy right now. I hope you never do. But after the last few weeks, I’ve become much more interested in having alternatives than in assuming everything will always work as expected.
That’s why I’m becoming a crypto-friendly freelancer. Maybe you should too.
