How to Pay Freelancers in Tether

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Some companies around the world prefer hiring freelancers for their companies because of reduced risks, flexible skills, and lower costs. In fact, this is a recurring trend in the United States since 2016, where 35% of the workforce is made up of freelancers. No wonder there are over 55 million freelancers in the US, contributing $1.4 trillion to the economy.

The popularity of freelancing has led to the emergence of several freelancer-focused platforms and marketplaces. These platforms provide an efficient way to find and hire freelancers as well as to get paid. After all, this is one of the major concerns of every freelancer, getting paid on time and in full.

One of the most popular means of payment for freelancers and companies around the world is through the use of cryptocurrencies. There are many benefits of using cryptocurrencies for payments, such as faster transactions, lower transaction fees, and easier cross-border payments. 

Tether is one of the most popular cryptocurrencies for payments and is often used to pay freelancers. It is a cryptocurrency that is pegged to the US dollar, meaning one Tether is always worth one of US dollar. This makes it a stable currency that is less prone to price fluctuations.

What is Tether?

Tether is a blockchain-based cryptocurrency that relies on the dollar peg to maintain a stable value. It is used to transfer value between exchanges, and it can also be used to pay freelancers. It is backed on by an equivalent amount of US dollars, making it a stable currency to use. In addition, Tether is the fifth-largest cryptocurrency by market cap, with a value of over $2 billion. 

Tether was founded in 2014 by Reeve Collins and Brock Pierce. The company is headquartered in Hong Kong. Tether has been involved in a few controversies, including allegations of being a scam. However, the company has maintained an excellent reputation and continues to be a popular currency.

Different Ways on Paying Freelancers in Tether

There are a few ways that companies can pay freelancers in Tether. 

Tether Wallet

The Tether Wallet is a software that stores the data you need to access your Tether funds. It is available for download on the Tether website. There is also a mobile app version for Android and iOS devices. 

Once you have the Tether Wallet installed, open it and click on the “Create new wallet” button. After that, you will receive a public key and a private key. The public key is what you give to others to send Tether to your wallet, and the private key is what you use to sign transactions to spend your Tether.

Once you have a Tether account, follow these steps to send a Tether payment:

  1. Open the Tether Wallet and click on the “Receive” tab. This will show you a list of all the public keys associated with your Tether Wallet.
  2. Select the public key of the freelancer you want to pay, and then click on the “Copy address” button. This will copy the public key to your clipboard.
  3. Go to the Tether website and click on the “Pay” tab. Paste the public key of the freelancer into the “To” field, and then enter the amount of Tether you want to send.
  4. Click on the “Send” button, and then enter your private key to sign the transaction.
  5. The Tether Wallet will then send the Tether to the freelancer’s public key.
  6. Once done, you can view the transaction on the Tether website by clicking on the “History” tab.

Tether-Enabled Payment Gateway

Tether-enabled payment gateways allow companies to pay freelancers in Tether by depositing funds into the gateway. The gateway then converts the Tether into the local currency of the freelancer. 

To use this as a payment method, you must first create a Tether account. You can then deposit funds into the account in various ways, including via bank transfer, credit card, or Bitcoin. Once the funds are deposited, you can use the gateway to pay in any country. The gateway will automatically convert the Tether into the local currency of the freelancer. 

This provides a convenient and easy way to pay freelancers, and it eliminates the need to exchange currencies. It also allows companies to pay freelancers in a more stable currency.

Tether-Based Invoice

The last way to pay freelancers in Tether is through a Tether-based invoice. A Tether-based invoice allows companies to pay freelancers in Tether by sending an invoice to the freelancer. The freelancer can then use the Tether to pay for the services rendered.

If you want to pay freelancers through this type of invoice, you need to log in to your Tether account and create a new invoice. After that, you need to enter the following information:

  • The name of the freelancer
  • The email address of the freelancer
  • The amount of Tether you want to send
  • The invoice number
  • The description of the services rendered

After you have entered this information, you need to click on the “Create Invoice” button. You will then see a confirmation message that the invoice has been created.

Once done, the freelancer will need to log in to their Tether account and click on the “View Invoice” link. They will view the invoice and the amount of Tether that has been sent.

The freelancer can then use the Tether to pay for the services rendered.

Final Thoughts

In conclusion, paying freelancers in Tether is easy. It can be done with a few simple steps, and it is a great way to avoid any potential payment issues. Plus, Tether is a very stable currency, so freelancers can feel confident that they will be paid in a timely manner.

If you’re still hesitant about using it as a payment method for your freelance workers, consider trying it. You may be surprised at just how easy and convenient it is. In addition, Tether can be used in a wide variety of situations, so it’s a great option for businesses of all sizes.

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