I’m starting this article rather unconventionally — two truths and a lie. Pick the lie from these three facts about Chile.
If you chose “English is the official language”, then you’re right, that’s the lie. The official language of Chile is Spanish. I know the first option may have thrown you off. Perhaps the “Penguins of Madagascar” should have been the “Penguins of Chile” since in reality, there are no Penguins in Madagascar.
Let’s talk about the third option: converting foreign currencies to USDC. If you’re a freelancer in Chile, USD Coin (USDC) is emerging as a practical solution to manage your foreign payments.
This guide explains how freelancers in Chile can easily receive foreign payments, convert them into USDC, and manage their funds efficiently with Grey.
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 have quick access to their funds.
Flexible conversion: Freelancers can hold USDC for stability and convert it to Chilean pesos (CLP) when exchange rates are favourable.
Also read: Send instant USDC payouts to 40+ countries with Grey
Grey offers a secure and straightforward method for freelancers to manage USDC payments. Here’s how you can send and convert USDC using Grey:
Log in to your Grey account through the app or website for secure access to your USD and other currency balances.
Navigate to the “Accounts” section and select your USD balance. This will serve as the starting point for initiating USDC transfers.
Choose the “Send money” option, then select “Send via crypto” to begin the USDC transfer process.
Input the recipient’s wallet address carefully. Ensure you select the correct network, as Grey supports Solana (SOL) and Binance Smart Chain (BEP-20).
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.
Once satisfied with the details, tap “Send.” Grey will prompt you to enter your two-factor authentication (2FA) code for added security.
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
To convert USDC into Chilean pesos (CLP), use a crypto exchange or a local service that supports USDC-to-CLP transactions. Some platforms offer direct conversion, while others may require intermediary trades through USD or BTC.
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: Chilean tax laws treat cryptocurrency as an asset. Consult a local tax advisor to understand your obligations when holding or converting USDC.
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 Chile. 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 to carry your dreams across borders.
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