Did you know that Belgians also gave us one of the most transformative inventions of the modern age — plastic? In many ways, cryptocurrency could be seen as the “plastic” of the digital financial world: innovative, versatile, and shaping how we transact globally.

Many freelancers have adopted this, with USD Coin (USDC) emerging as a practical solution to manage foreign payments. As a stablecoin pegged to the U.S. dollar, freelancers can receive foreign foreign payments and convert to USDC, providing a flexible and efficient financial tool.

This guide will show you how to receive foreign payments, convert them to USDC, and manage your funds with Grey.

Also read: How to receive and convert foreign currencies to USDC

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

For freelancers working with global clients, converting foreign currencies to USDC provides several benefits:

Stable value: USDC maintains a consistent value by being tied to the U.S. dollar, shielding you from the volatility of other cryptocurrencies.

Low fees: Compared to traditional banking, USDC transactions incur less fees, making them cost-effective for cross-border payments.

Quick access to funds: USDC payments process quickly through blockchain networks, so you can access your funds faster.

Flexible conversion: Freelancers can hold USDC and convert it into euros when exchange rates are most favourable.

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

How to receive and convert foreign currency to USDC

Grey offers a straightforward and secure method for freelancers to manage USDC payments. Here’s how you can send and convert USDC with 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 is the starting point for initiating USDC transfers.

Tap “Send via crypto”

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

Enter transaction details

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

Input the transfer amount and review the details

Enter the amount you wish to send and double-check the details, including the network and wallet address. Make sure they’re accurate.

Confirm and complete the transfer

Once all details are verified, tap “Send” to complete the transaction. Grey will request two-factor authentication (2FA) 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

How to convert USDC to euros

To convert USDC into euros, use a crypto exchange or a local service that supports USDC-to-EUR conversions. Some exchanges offer competitive rates and direct conversions. Alternatively, you can convert through an intermediary currency like USD if needed.

What are the considerations for freelancers holding and converting USDC?

While holding USDC can be a flexible option for freelancers, keep these points in mind:

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

Fee awareness: While generally low, fees can vary by network, so check before sending.

Tax compliance: Belgian authorities treat cryptocurrency as an asset, so consult a tax advisor to ensure you meet your reporting obligations.

Using Grey to simplify USDC management

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

Managing international payments has never been easier. Create your Grey account today to unlock the full potential of USDC as a freelancer in Belgium.

‍