Freelancers are always on the lookout for better ways to handle foreign payments, and those in Singapore are no different. And USD Coin (USDC), a stablecoin pegged to the U.S. dollar, provides a reliable and efficient option. It allows freelancers to receive international payments digitally, maintain their value, and convert them easily to Singapore dollars when needed.
This guide explains how freelancers in Singapore can streamline their finances, convert foreign payments to USDC, and manage their earnings seamlessly with Grey.
Why convert foreign payments to USDC in Singapore?
For freelancers in Singapore working with international clients, USDC simplifies managing foreign payments and offers significant advantages:
Easier cross-border transactions: USDC allows seamless global payments without the delays and fees of traditional banking systems. Sending or receiving funds internationally can be as simple as a local transfer.
Stable value: USDC is pegged to the U.S. dollar, providing a dependable way to store value without worrying about the fluctuations of other cryptocurrencies or local currencies.
Lower transaction costs: Compared to traditional bank transfers, USDC offers significantly lower fees, helping freelancers save more of their earnings.
Fast access to funds: With blockchain technology, UDSC payments are processed in minutes, giving freelancers quick and hassle-free access to their earnings.
Flexible conversion: Freelancers can hold USDC and convert it to Singapore dollars (SGD) when rates are favourable, ensuring they get the most value for their money.
Receiving and converting foreign currency to USDC with Grey
At Grey, we’re committed to making global transactions easy for freelancers, digital nomads, and remote workers. With our latest update, you can now convert foreign currency to USDC and transfer it directly to your crypto wallet in over 40 countries. This feature makes cross-border payments even more secure, efficient, and cost-effective - perfect for anyone managing international payments.
Open the Grey app: Log in to your Grey account on the web or mobile app.
Select your USD balance: Navigate to the “Accounts” section and select your USD balance.
Tap “Send via crypto”: Choose the “Send money” option, then select “Send via crypto” to begin sending USDC.
Enter transaction details: Carefully fill in the recipient’s wallet address. Choose the correct network, Grey supports Solana (SOL) and Binance Smart Chain (BEP-20) — for successful transfer processing.
Input the transfer amount and review details: Enter the amount to be sent. Double-check all information, including wallet address and network, to avoid transaction errors.
Confirm and complete the transfer: Once satisfied with the correct details, tap “Send.” Grey will prompt you to enter your two-factor authentication (2FA) code, adding an extra layer of security.
Transaction success: The USDC will arrive in the recipient’s wallet after processing. They can keep the USDC, convert it into local currency, or use it as they wish.
Why choose Grey for USDC payouts?
Instant transfers: Your USDC transactions are sent instantly, so your funds arrive without delay.
No extra charges: We don’t charge extra withdrawal charges. You are only required to pay the network fee.
Secure and reliable: Your funds are always protected with industry-standard measures.
Grey secures your USDC transactions by partnering with trusted providers, supporting well-established blockchain networks, and requiring two-factor authentication (2FA) for all transactions. These measures help protect user funds and safeguard account access.
Whether you're handling business payments or freelance earnings in Singapore, Grey makes global transactions seamless. With our new USDC feature, you can enjoy borderless banking and quick access to your funds. Get started today by opening your free Grey account to enjoy limitless global banking designed just for you.
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