Australia may have some of the quirkiest animals around, but when it comes to managing foreign payments, Grey ensures your finances are predictable.

For professionals juggling clients across borders, USD Coin (USDC) offers a straightforward way to receive and convert payments, taking away the drama of exchange rate volatility.

This guide walks you through how freelancers in Australia can use Grey to receive foreign payments, convert them to USDC, and access their funds securely and efficiently.

Why convert foreign payments to USDC as a freelancer in Australia?

For freelancers working with clients abroad, converting foreign currencies to USDC offers several advantages:

Stable value: As a stablecoin tied to the U.S. dollar, USDC provides a predictable value, helping freelancers avoid the volatility of other cryptocurrencies.

Low fees: USDC transactions often come with lower fees than traditional bank transfers, making them cost-effective for international payments.

Quick access to funds: Blockchain technology allows for near-instant transfers, so freelancers can quickly access their funds.

Flexible conversion: You can hold USDC for stability and convert it to Australian dollars (AUD) when rates are favourable, giving you financial flexibility.

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Also Read: Send instant USDC payouts to 40+ countries with Grey

Receiving and converting foreign currency to USDC

Grey offers a secure and straightforward method for freelancers to manage USDC payments. Here’s how you can send and convert USDC using Grey:

Open the Grey app

Log in to your Grey account through the app or website for secure access to your USD and other currency balances.

Select your USD balance

Navigate to the “Accounts” section and select your USD balance. This will serve as the starting point for initiating USDC transfers.

Tap “Send via crypto”

Choose the “Send money” option, then select “Send via crypto” to start the USDC transfer process.

Enter transaction details

Input the recipient’s wallet address carefully. Ensure you select the correct network, as Grey supports Solana (SOL) and Binance Smart Chain (BEP-20).

Input the transfer amount and review the details

Specify the amount you want to send and make sure to double-check the wallet address and network to ensure your transaction goes in the right place.

Confirm and complete the transfer

Once satisfied with the details, tap “Send.” Grey will prompt you to enter your two-factor authentication (2FA) code for added security.

Transaction success

The USDC will arrive in the recipient’s wallet after processing. The recipient can keep the USDC, convert it into local currency, or use it as needed.

Also Read: How to receive dollar payments and convert to USDC in Mexico

Converting USDC to Australian dollars

To convert USDC to AUD, you can use a crypto exchange or a local service supporting USDC-to-AUD transactions. Look for platforms with competitive rates and ensure they support the blockchain network you’re using.

Considerations for freelancers holding and converting USDC

While holding USDC is convenient, here are a few factors to consider:

Network compatibility: Ensure the network used for USDC matches your wallet and conversion services to avoid transaction issues.

Fee awareness: Although USDC has low transaction fees, network fees may vary depending on the blockchain.

Tax compliance: In Australia, cryptocurrencies are subject to tax regulations, depending on how you acquire, hold, and dispose of the asset. Consult a tax advisor to understand your obligations when holding or converting USDC.

Using Grey to simplify USDC management

With Grey, you can securely send USDC to supported wallets, manage funds with ease, and take advantage of robust security measures like two-factor authentication (2FA).

Grey makes receiving and managing USDC payouts effortless for freelancers in Australia. Start today by creating your Grey account and unlock the benefits of global financial freedom.

The future of global banking is here, designed for you.

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