The United Kingdom is made up of four nations: England, Scotland, Wales, and Northern Ireland, each rich with history, culture, and innovation. Together, they are one of the biggest economies in the world. Across each of the member nations are thriving communities of freelancers and remote workers who are redefining the modern workforce. As more professionals in the UK work with international clients, managing foreign payments efficiently has become a critical need.

That’s where USD Coin (USDC) comes in — a modern, stable financial solution that’s tied to the U.S. dollar. This guide explains how freelancers and businesses in the UK can streamline their finances by converting foreign currencies to USDC with Grey.

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

Why convert foreign payments to USDC as a freelancer in the UK?

For freelancers in the UK 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.
• Flexibility: Freelancers can hold USDC for stability and convert it to GBP when exchange rates are favourable.

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

Receiving 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 through the app or website to 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

Input the recipient’s wallet address carefully and 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 of USDC to send. Double-check all information, including the wallet address and network, before proceeding.

Confirm and complete the transfer

Once satisfied with the details, tap “Send.” Grey will prompt you to enter your two-factor authentication (2FA) code for added security.

Transaction success

The USDC will arrive in the recipient’s wallet after processing. The recipient can hold the USDC, convert it into GBP, or use it as needed.

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

Converting USDC to British Pounds (GBP)

To convert USDC into GBP, use a crypto exchange or a local service that supports USDC-to-GBP transactions. Many platforms offer direct conversions, while others may require intermediary trades through USD or BTC.

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: The UK treats cryptocurrencies as taxable assets. Consult with a local tax advisor to understand your obligations when holding or converting USDC.

Also Read: How to receive and convert foreign currencies to USDC in the United Arab Emirates

Using Grey to simplify USDC management

Grey makes it easy for freelancers in the UK to securely send and manage USDC transactions. The platform supports major blockchain networks, offers competitive transaction fees, and provides robust security features.

Create your Grey account today to unlock the full potential of USDC.

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