[0] within margin of error
[0] within margin of error
I also should note that for work done for clients outside my country of residence, I preferred crypto payments because local exchanges allowed me to have the payment in my bank account, in local currency in minutes 24 hours a day, any day of the week, as opposed to waiting 24 hours or even days by any other non-crypto payment method
My assumptions:
You may save a miniscule amount on transaction fees.
For your customers It’s just a new hoop they have to jump.
Does it worth it?
Imagine now your customer is in a non-US country, and you are in another non-US country with another currency. Using USD wire transfer is jumping through hoops in this context, and might not always be fast, cheap, or possible at all with some pairs of countries.
In this scenario, would one's rate be set in BTC, or fiat?
I'm struggling to understand how a (non-crypto) business could want to hire a contractor at - let's say - 0.016 BTC/day, then watch the real (fiat) cost of that rate change value as the crypto markets move.
"We hired a contractor at what was $100/day but right now it's costing us $1000/day because we agreed to fix her rate in BTC" ?
Isn't this essentially like agreeing to pay someone in gold, or any other random commodity?
If you don't possess the BTC on the day you signed the contract then you basically created an option with a zero dollar strike price. You aren't truly using the currency the way helloworld1 and others imply.
They do so because it gets the job done.
You'll get really tired from all of these gymnastics trying to convince everyone already using cryptocurrency that nobody's using cryptocurrency.
You set the rate in USD, and do the currency conversion upon sending.
> I'm struggling to understand how a (non-crypto) business could want to hire a contractor at - let's say - 0.016 BTC/day
You’re right, BTC is too volatile to set the price in it in advance. But it is a perfectly good payment method.
It’s true that if you need the money you receive in BTC to feed your family tomorrow or they starve, then BTC is not convenient and too risky due to price fluctuations. But if you’re a reasonably compensated professional or a business with healthy margins, there’s very little downside in receiving 10—20% of money as crypto, and potentially very high upside.