This tiny Baltic state has embraced the digital era, with many Estonians embracing freelancing and remote work. Managing foreign payments can however be a challenge. Enter USD Coin (USDC) — a stable, efficient solution for managing international transactions in the digital age.

This guide explores how freelancers in Estonia can seamlessly receive foreign payments, convert them into USDC, and gain better control over their finances using Grey.

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

For freelancers dealing with international clients, converting foreign currencies to USDC offers several benefits:

Stable value: As a stablecoin pegged to the U.S. dollar, USDC ensures that freelancers don’t lose value due to market volatility.

Lower fees: Transactions involving USDC often incur lower fees, compared to traditional bank transfers.

Quick transfers: Thanks to blockchain technology, USDC transactions are processed almost instantly, ensuring fast access to your funds.

Flexible currency management: You can hold USDC and convert it to euros (EUR) or other currencies when the exchange rate is in your favour.

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 (EUR)

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

What are the considerations for freelancers holding and converting USDC?

While USDC provides excellent flexibility, here are some factors freelancers in Estonia should consider:

• Network compatibility: Ensure the network used for USDC matches your wallet and conversion service to avoid transaction issues.
• Transaction fees: USDC typically has low fees, but network fees may vary depending on the blockchain used.
• Tax compliance: Estonia has progressive crypto-friendly regulations, but freelancers should consult a tax advisor to ensure compliance when holding or converting USDC.

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

Using Grey to simplify USDC management

With Grey, you can send USDC to supported wallets, manage funds easily, 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 Estonia.

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