We build Rampy.money, so read this with that in mind. Originally published on our blog.
Clients do not have to hold crypto for you to be paid in USDC. Give them bank details that convert on arrival, or an invoice they can pay by transfer.
Plenty of freelancers would rather hold dollars on-chain than in a local bank, or simply want to be paid faster and more cheaply across borders. The obstacle is usually the client: most businesses pay by bank transfer and are not going to buy crypto to pay an invoice. You do not need them to.
Option 1: give them a wallet address
If the client already holds stablecoins, this is the cheapest route: they send USDC to your wallet and nothing is converted. Give them the address and the network together, in writing, and ask for a small test payment the first time.
Option 2: bank details that convert to USDC
A deposit account is a set of bank details of your own (in your name for USD and EUR). The client pays it by ordinary bank transfer, as they would anyone else, and the money is converted to USDC and sent to your wallet on its own. It costs 1.99% of each payment with no flat fee, and we ask you to keep payments at 100 or above. Get paid lists the currencies open to you.
- Nothing to place and nothing to cancel: whatever arrives is converted, including a payment made twice.
- You choose the coin, the network and the wallet when you open it, and can change the wallet later.
- Payments from a business in its own name are accepted; some rails limit or refuse payments from third parties.
Option 3: send an invoice with a pay link
From Get paid you can create an invoice with an amount and a due date, and send the client its link: a page with your bank details and the invoice number to quote as the reference. When the payment arrives into your deposit account it converts as usual, and the invoice is marked paid on its own — you are emailed when it is.
Which to use
| Wallet address | Deposit account | Invoice and pay link | |
|---|---|---|---|
| Client pays with | Stablecoins | Bank transfer | Bank transfer |
| Cost to you | Nothing from us | 1.99% of each payment | 1.99% of each payment |
| Tracks what is owed | No | No | Yes, marked paid on arrival |
Turning it back into money
When you need local currency, sell from your wallet to your bank account for 1.99% + 1.99 below 500, then 0.99% + 1.99 from 500 per order, or set up an auto-convert address that pays your bank whatever arrives on it.
Being paid in a stablecoin is still income, and converting it later can be a taxable disposal as well. Keep the invoice, the payment and the conversion together.
Open bank details that convert payments into USDC.
Get paid in stablecoins
Frequently asked
Does my client need crypto to pay me in USDC?
No. With a deposit account they pay ordinary bank details by transfer, and the money reaches you as USDC.
What does it cost?
A deposit account is 1.99% of each payment with no flat fee. A client paying you USDC directly costs you nothing from us.
Can I send an invoice?
Yes. From Get paid, create an invoice with an amount and due date and send the client its link. It is marked paid on its own when the payment arrives.
Top comments (2)
The "turning it back into money" step is where I'd check the bank's rules, not just the fee. If the account your auto-convert pays into is Payoneer, its prohibited transaction list puts "virtual and cryptocurrencies" among the lines of business it doesn't service, unless it agrees to them after a review. I'd ask Payoneer in writing before pointing an auto-convert address at it.
Fair point, and worth adding. Before you point an auto-convert address at an account, check that account’s own terms, not just our fee. Fintech accounts like Payoneer or Wise have their own policies on money that comes from crypto, so it’s sensible to ask them first.
On our side: an auto-convert address pays out as an ordinary bank transfer into an account in your own verified name, which you link in Rampy first. For GBP and EUR, the receiving bank also checks that the name matches. If your provider says yes, keep their answer with your records.