An interesting fact about Vietnam is that motorbikes are the heartbeat of the country’s transportation system, with 54 million registered two-wheelers compared to just two million cars. It’s a country where adaptability rules.

This quest for adaptability has accelerated the growth of freelancing and remote work in the country. USD Coin (USDC) offers a modern, efficient way for these freelancers to manage payments.

This guide will walk you through how freelancers and remote workers in Vietnam can receive foreign payments, convert them to USDC, and manage their funds effortlessly with Grey.

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

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

For freelancers working with global clients, converting foreign payments to USDC brings many advantages:

• Stable value: USDC is tied directly to the U.S. dollar, making it immune to the wild fluctuations of other cryptocurrencies.
• Lower fees: Cross-border transactions in USDC typically cost less than traditional bank transfers.
• Quick access to funds: Blockchain technology ensures nearly instant transactions, so you get paid faster.
• Flexibility: Freelancers can hold USDC until exchange rates are favourable or convert it to Vietnamese dong (VND) when needed.

Also Read: Send instant USDC payouts to 40+ countries with Grey

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 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 dollar payments and convert to USDC in Mexico

Converting USDC to Vietnamese dong (VND)

Freelancers can use crypto exchanges or local services to convert USDC to VND. Some exchanges offer direct conversions, while others may require intermediary trades through USD or BTC.

Considerations for freelancers holding and converting USDC

• Network compatibility: Always ensure the network used for USDC matches your wallet or exchange platform.
• Fee awareness: While USDC has low transaction fees, network fees can vary.
• Tax compliance: Vietnam’s tax regulations treat cryptocurrency as an asset. Consult a local tax advisor to ensure compliance.

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

Using Grey to simplify USDC management

Grey offers freelancers in Vietnam a secure, seamless platform for managing USDC payments. With low transaction fees and fast transfers via Solana and Binance Smart Chain, Grey ensures you get the best of both worlds and that your funds are handled efficiently.

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

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