Unlock the Potential of Crypto Payouts for Contractors

Benefits of Crypto Payouts for Contractors

One of the key advantages of getting paid in USDC is the speed and reliability of transactions. As mentioned, payments are sent on the Polygon Network, a Layer-2 chain based on Ethereum. This ensures that contractors receive their funds promptly and without the delays often associated with international transfers. Many crypto wallets support Polygon transactions, making it convenient for contractors to manage their earnings.

Moreover, by being paid in a USD-denominated cryptocurrency like USDC, contractors can safeguard themselves against the risks of money devaluation in their home countries. If they live in a region where the local currency is experiencing fluctuations, holding USDC allows them to maintain a stable purchasing power. For instance, when they need to make a purchase in their local shop, they can easily exchange some USDC for their local currency and keep the rest in their crypto wallet. Some even opt for using a debit card issued by a crypto exchange to seamlessly spend USDC.

How Crypto Payouts Work on Remote

When contractors are invited to create an account on Remote, they have the option to choose how they want to get paid. They can select to receive payments in their local currency via a bank account or in USDC. If they choose USDC, they simply enter their wallet address and start uploading invoices. Once companies approve the invoices in their Remote dashboard, Remote automatically creates a payment request for all contractors and transfers the money using the appropriate payout method.

Currently, the company only supports USDC, a widely used cryptocurrency stablecoin managed by Circle. One USDC is always equivalent to one USD, providing contractors with the security of a stable value. In the future, Remote plans to expand this feature to customers based in other countries and add support for more cryptocurrencies such as Bitcoin and Ethereum for those with a strong preference for digital assets.