A freelancer is a self-employed individual who offers services to typically multiple clients at a time. They could be paid by the hour, weekly or after the completion of a project. Some of the most popular fields where freelancers can be found includes content writing, graphic design, photography, web development and marketing. As a matter of fact, freelancers can work in nearly any industry, once they establish themselves as reliable service providers.
Being a freelancer comes with many benefits such as flexible working hours and workload control. However, one of the most challenging aspects of freelancing is managing your finances. Therefore, the main focus of this article will be on how saving in crypto can help maximize your finances and increase your financial power.
To kick off, let's look at the case of Mannie, a remote freelance writer. He works 6 hours daily, 5 days a week, writing articles on blockchain technology and web3 for different clients. In January 2021, he saved $100 in his crypto wallet. At the time, $100 was about ₦45,650. By the time December came around, the same $100 was now worth ₦58,700. To state the obvious, If he had saved in Naira, he would not have had the ₦13,000 profit difference or better put, he would be losing ₦13,000 purchasing power to inflation.
As a freelancer working hard for your money, it is only right that your money works for you and that it is saved in a place where its value appreciates. With that being said, here are some more benefits that come with saving in crypto as a freelancer.
5 reasons why you should save in crypto as a freelancer using Obiex
1 Security of funds: When considering whether to use a cryptocurrency wallet or exchange platform, safety is a paramount factor to consider. With Obiex, we not only ensure the security of your crypto & fiat assets but your identity details as well.
2 Hedge against inflation: When you save in crypto, you can save your money in two ways- you can swap from NGNX or any other coin to stablecoin like USDT and hold it in your wallet. Or you can lock it in a savings plan (which will be available in the new Obiex V.3 app). Either way, your money will be safeguarded against the push and pull of inflation.
3 Access to crypto virtual cards: With the new Obiex v3 app, users can create virtual dollar debit cards that they can fund with USDT, USDC or BUSD. With these cards, you will be able to make online payments and purchases in as many stores as you want without worrying about limits and other restrictions.
4 Easy transfer of cryptocurrency: On Obiex, you can transfer any crypto coin you want to your loved ones who use the app. All you need is their username and in less than a minute, the money gets transferred to their Obiex wallet.
5 Fast access to buying opportunities: Let’s say a coin like Apecoin dips and you want to buy the dip. If you already had money saved in your obiex wallet, you can simply purchase the coin by simply swapping to the amount of Apecoin you want. Then when it rises, you can sell off, and swap your profits back to stablecoin.
Freelancing offers many benefits like flexibility and independence. However, it can be challenging to stay afloat financially especially if you do not save. That’s why saving in crypto is an option freelancers should seriously consider as we have shown why above.
If you’re ready to start building your way to financial stability as a freelance worker, sign up on obiex to begin your journey today.
Disclaimer: this article was written by the writer to provide guidance and understanding of cryptocurrency trading. It is not an exhaustive list and should not be taken as financial advice. Obiex Finance will not be held liable for your investment decisions.