While Germany’s remote work scene buzzes and freelancers flock to this innovation hub, one challenge remains: managing foreign payments. If you're a freelancer in Germany working with international clients, the process of handling payments across currencies can be difficult.

Thankfully, USD Coin (USDC) offers a straightforward solution. This stablecoin is pegged to the U.S. dollar, making it ideal to convert foreign currencies to USDC. Here’s how freelancers and remote workers in Germany can leverage Grey to simplify the process.

Also read: How to receive and convert foreign currencies to USDC

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

For freelancers in Germany working with international clients, converting foreign currencies to USDC offers several advantages:

• Stable value: USDC is a stablecoin tied to the U.S. dollar, offering predictable value and avoiding the volatility of other cryptocurrencies.
• Low fees: Compared to traditional bank transfers, USDC transactions come with significantly lower fees.
• Quick access to funds: Blockchain technology ensures near-instant processing, so you get paid faster.
• Flexible conversion: Hold USDC securely and convert it to Euros (EUR) when exchange rates are favourable.

Also read: How to receive and convert foreign currencies to USDC in Latvia

How to receive and converting foreign currency to USDC

Grey offers a seamless way to receive and convert foreign currencies into USDC. Here's how:

Open the Grey app

Log in to your Grey account via the app or website to securely access your USD and other currency balances.

Select your USD balance

Navigate to the “Accounts” section and select your USD balance to initiate a USDC transfer.

Tap “Send via crypto”

Select “Send money,” then choose “Send via crypto” to begin the process of sending USDC.

Enter transaction details

Carefully input the recipient’s wallet address and choose the correct network (Solana or Binance Smart Chain) to ensure a successful transfer.

Input the transfer amount and review the details

Enter the amount of USDC to send. Double-check all information, including the wallet address and network, before proceeding.

Confirm and complete the transfer

Tap “Send” after verifying the information. Grey will prompt you for your two-factor authentication (2FA) code to add a layer of security.

Transaction success

The recipient will receive the USDC shortly after processing. They can hold it, convert it to local currency, or use it for other purposes.

Also read: How to receive dollar payments and convert to USDC in Italy

How to convert USDC to Euros

To convert USDC to Euros (EUR), use a crypto exchange or local service that supports USDC-to-EUR transactions. Some platforms offer direct conversions, while others may involve intermediary trades through USD or BTC.

What are the considerations for freelancers holding and converting USDC?

While holding USDC offers stability and flexibility, here are a few things to keep in mind:

• Network compatibility: Ensure the network you use for USDC matches the networks supported by your wallet and conversion service.
• Fee awareness: While USDC transactions typically incur low fees, blockchain network fees may vary.
• Tax compliance: Cryptocurrency is considered an asset in Germany, and its tax treatment can be complex. Consult a local tax advisor to ensure compliance with German regulations.

Also read: How to receive dollar payments and convert to USDC in Romania

Using Grey to simplify USDC management

With Grey, you can send USDC to supported wallets, manage funds with ease, and take advantage of robust security measures like two-factor authentication (2FA).

Create your Grey account today to unlock the full potential of USDC as a freelancer in Germany.

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