If you’re a freelancer working with international clients in Bulgaria, managing your payment process doesn’t need to be hectic. USD Coin (USDC) offers a streamlined, stable solution for this.

This guide explains how freelancers and remote workers in Bulgaria can efficiently receive foreign currencies, convert them into USDC, and take control of their earnings with Grey.

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

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

Stable value: USDC is pegged to the U.S. dollar, offering predictable value without the volatility associated with other cryptocurrencies.

Lower fees: USDC transaction fees are typically lower than traditional bank transfers, saving you money.

Quick access to funds: Blockchain technology enables quick transfers, ensuring freelancers have almost instant access to their funds.

Flexible conversion: USDC allows you to hold your earnings in a stable digital form and convert them to Bulgarian lev (BGN) or other currencies when exchange rates are favourable.

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

How to receive and convert 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 into your Grey account using the app or website. This will give you 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

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

Also Read: How to receive and convert foreign currencies to USDC in the Philippines

How to convert USDC to Bulgarian Lev (BGN)

To convert USDC into BGN, use a cryptocurrency exchange or a local service that supports USDC-to-BGN conversions. Some platforms offer direct conversions, while others may require intermediary trades through USD or BTC.

Also Read: How to receive and convert foreign currencies to USDC in Indonesia

What are the considerations for freelancers holding and converting USDC?

While holding USDC is convenient, here are a few things freelancers in Bulgaria should consider:

• Network compatibility: Ensure the network used for USDC matches your wallet and conversion service to avoid transaction errors.
• Transaction fees: While USDC has lower transaction fees than traditional methods, network fees can vary depending on the blockchain.
• Tax compliance: Bulgaria’s tax regulations treat cryptocurrency as a financial asset. Consult with a local tax advisor to stay compliant when holding or converting USDC.

Using Grey to simplify USDC management

Grey offers freelancers in Bulgaria an easy way to manage USDC transactions. With its user-friendly interface, secure systems, and support for multiple networks, Grey ensures a seamless experience when receiving and managing foreign payments.

Ready to simplify your international transactions? Create your Grey account today and unlock the power of global financial freedom.

‍