Egypt has long been a crossroads of culture and commerce. In recent years, the country has also built an enviable modern economy, with a growing focus on technology and innovation.

As freelancing and remote work gain traction across Egypt, more professionals are working with international clients, earning in foreign currencies, and looking for efficient ways to manage their finances. The USD Coin (USDC), a stable is a reliable solution  for handling global payments seamlessly.

In this guide, we’ll show freelancers in Egypt how to receive foreign payments, convert them into USDC, and manage their finances seamlessly with Grey.

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

For freelancers collaborating with international clients, USDC offers several compelling benefits:

Stable value: As a stablecoin pegged to the U.S. dollar, USDC ensures that your earnings retain their value, shielding you from cryptocurrency volatility.

Lower fees: Compared to traditional bank transfers, USDC transactions often have lower costs, making it an economical choice for cross-border payments.

Fast transfers: Blockchain technology ensures near-instant processing, giving freelancers quick access to their funds.

Flexibility in currency management: Freelancers can hold USDC for stability and convert it to Egyptian pounds (EGP) 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 simplifies USDC management with a secure and intuitive platform. Here’s how freelancers in Egypt 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 begin 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 you’ve verified the details, tap “Send.” Grey will prompt you to enter your two-factor authentication (2FA) code to securely finalise the transaction.

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 Belgium

How to convert USDC to Egyptian pounds (EGP)

To convert USDC into Egyptian pounds, use a cryptocurrency exchange or local service that supports USDC-to-EGP conversions. Some platforms offer direct conversion options, while others may require intermediary steps through USD or BTC.

What are the considerations for freelancers holding and converting USDC?

While USDC provides convenience and flexibility, here are some factors to consider:

• Network compatibility: Ensure that the network used for USDC matches your wallet and conversion services to avoid transaction issues.
• Transaction fees: Although USDC transactions typically have low fees, network fees can vary depending on the blockchain used.
• Tax compliance: Egypt has emerging cryptocurrency regulations. Consult a tax advisor to ensure compliance when holding or converting USDC.

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

Using Grey to simplify USDC management

Grey makes receiving and managing USDC payouts effortless for freelancers in Egypt. 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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