Freelancers are always looking out for new ways to manage finances, especially foreign currencies. The freelancers in Thailand aren’t left out and USD Coin (USDC), a stablecoin tied to the U.S. dollar, offers a practical and efficient solution. It lets freelancers receive international payments in digital form and convert them easily to Thai baht (THB) when needed.

Here’s a guide on how freelancers in Thailand can receive foreign payments, convert them to USDC, and manage their funds with Grey.

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

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

For freelancers in Thailand 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 conversions: You can hold USDC until you get the most favourable exchange rate or convert it to Thai baht (THB) as needed.

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

How to receive and convert 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

Once all details are verified, tap “Send” to complete the transaction. Grey will request two-factor authentication (2FA) for added 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 and convert foreign currencies to USDC in Peru

How to convert USDC to Thai baht (THB)

To convert USDC to Thai baht, use a crypto exchange or local service that supports USDC-to-THB transactions. Some platforms allow direct conversions, while others may require intermediary steps involving USD or BTC.

What are the considerations for freelancers holding and converting USDC?

While holding USDC is convenient, here are a few factors to consider:

• Network compatibility: Ensure the network used for USDC matches your wallet and the conversion service you use.
• Fee awareness: Although USDC transactions generally have low fees, network charges can vary.
• Tax compliance: Cryptocurrency is considered an asset in Thailand. Consult a tax advisor to ensure compliance with local regulations.

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

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 Thailand.