For freelancers in Benin working with clients globally, having a simple way to receive and convert payments is essential. USD Coin (USDC), a stable digital currency tied to the U.S. dollar, offers an ideal solution. With USDC, freelancers can securely receive international payments in digital form, maintain their value, and convert them to CFA francs whenever needed.
This guide explores how freelancers in Benin can use Grey to receive foreign payments in USDC and quickly access their earnings in local currency.
Remote workers: Individuals in Benin who work for foreign companies can receive payments in foreign currencies and convert them to stable coins like USDC, making it easier to manage income.
Freelancers: Freelancers working with global clients can get paid in foreign currencies and convert earnings to use locally or save in stable digital currencies.
Small business owners: Business owners who sell products or services to clients overseas can receive payments in foreign currencies, and then convert to USDC for smoother transactions.
Why convert foreign payments to USDC in Benin?
Stability against inflation: The Beninese Franc (CFA) can fluctuate due to regional economic challenges, making USDC a more stable option for preserving value. .
Easier cross-border transactions: USDC allows seamless international transfers, ideal for remote workers and freelancers who need to receive payments from abroad or send money outside Benin without currency exchange hurdles.
Access to global digital finance: With USDC, users in Benin can tap into global digital markets, invest internationally, and access financial services like crypto lending or staking that aren’t readily available in the local economy.
Flexible conversion: Freelancers can hold USDC and convert it to CFA francs when exchange rates are favourable or when they need it, allowing for easier financial management.
Receiving and converting foreign currency to USDC with Grey
At Grey, we’re focused on making global transactions easy for freelancers, digital nomads, and remote workers. With our latest update, you can now convert foreign currency to USDC and transfer it directly to your crypto wallet in over 40 countries.
Here’s how to convert currencies in Benin to USDC using Grey’s platform:
Open the Grey app: Log in to your Grey account through the web or mobile app.
Select your USD balance: Navigate to the “Accounts” section and select your USD balance, which is essential for initiating USDC transfers.
3. Tap “Send via crypto”: Choose the “Send money” option, then select “Send via crypto” to begin sending USDC.
4. Enter transaction details: Carefully fill in the recipient’s wallet address. Choose the correct network, Grey supports Solana (SOL) and Binance Smart Chain (BEP-20) — for successful transfer processing.
5. Input the transfer amount and review details: Enter the amount to be sent. Double-check all information, including wallet address and network, to avoid transaction errors.
Confirm and complete the transfer: Once satisfied with the correct details, tap “Send.” Grey will prompt you to enter your two-factor authentication (2FA) code, adding an extra layer of security.
Transaction success: The USDC will arrive in the recipient’s wallet after processing. They can keep the USDC, convert it into local currency, or use it as they wish.
Grey secures your USDC transactions are secure by partnering with trusted providers, supporting well-established blockchain networks, and requiring two-factor authentication (2FA) for all transactions. These measures help protect user funds and safeguard account access.
Whether you're managing business payments or freelance earnings in Benin, Grey is here to make global transactions simple. Experience seamless, borderless banking with our new USDC feature. To get started, open your free Grey account today to enjoy limitless global banking designed just for you.
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