Solar Staff, a fintech company connecting businesses with freelancers from 190+ countries, is the first in Europe to introduce a new withdrawal method - cryptocurrency - USDT, TRON, to provide more flexibility for freelancers in withdrawal options and reduce expenses for transactions.
Many European freelancers have faced the ongoing challenge of withdrawing their funds, mainly because traditional banking systems and digital payment platforms frequently impose at least 3-4% of commission and may not be accessible to freelancers in all parts of the world. Due to that freelancers are looking for platforms with various payment options and according to Solar Staff’s internal research 34% of respondents named cryptocurrency as one of them. This option not only provides flexibility in withdrawing payments but also lets using cryptocurrency for the investment purposes that particularly pique the interest of high-earning professionals.
A new option to withdraw funds in cryptocurrency, accompanied by a nominal fee of just 1% was implemented with Coinspaid, a prominent crypto-financial ecosystem with over 41M transactions processed by April 2023. To access this feature, contractors will only need to link their wallets to USDT (TRC 20); USDT (ERC20) or TRON (ETH).
"Besides rising inflation and income instability, freelancers face the problem of overpaying up to 3 times for conventional currencies due to the high fees of traditional banking. The addition of cryptocurrency will help us to promote in those regions where this problem is most acute and it is a popular alternative to banks. Freelancers, particularly digital nomads, the number of which has tripled since 2020, are actively using cryptocurrency with a 27% increase in 2023 in comparison to the last year, and now they can seamlessly withdraw earnings through our platform. It will expand the base of freelancers our clients can work with several times over. Ultimately, so we are a B2C2B and B2B2C service, we benefit from this anyway”, comments Pavel Shynkarenko, Co-Founder and CEO at Solar Staff.
Payment systems face a new era with implementation of cryptocurrency. The popularity of cryptocurrency as an alternative to banks is highly visible in Eastern Europe, Latin America, Asia. One of the key financial benefits of its usage for transactions is its notably low fees. As the first European company providing such an opportunity, Solar Staff offers exceptional terms, making it highly advantageous for all freelancers to utilize their services.