Final yr, I stop my job at one in all Nigeria’s main cryptocurrency platforms and as a remaining request, requested that my remaining wage be despatched to me in Wakanda (WKD) cash. I did this as a result of I had heard in regards to the success of the Shiba Inu coin (SHIB) and had a hunch that the WKD coin may change into my very own Shib.
At first, my funding doubled in dimension, and elated, I acquired carried away. Since I additionally had lots on my plate, I centered on work, hoping to return to even more healthy returns.
Once I ultimately reopened the pockets, I used to be shocked to see that the worth of my funding had already dropped about 300% and was nonetheless trending downward. Alarmed, I withdrew my cash instantly, however the injury had been completed.
An enormous dilemma for creatives and freelancers
If the web made the world a worldwide village, Crypto has made it simpler for its inhabitants to make and obtain funds simply. Creatives, ‘tech bros’ and ‘ladies in tech’ can now work wherever on the earth and obtain crypto funds whereas dwelling in Nigeria with no hassles.
That is attainable due to international crypto adoption. As an alternative of haggling over phrases (an much more difficult proposition when totally different currencies are concerned), each events simply want their crypto wallets to ship and obtain funds. However with the volatility of crypto, what’s to say what occurred to me with WKD wouldn’t all the time occur?
Easy methods to know which crypto property to obtain cash in
The one fixed in regards to the crypto market is its volatility. Whereas some merchants benefit from that volatility to make fast, straightforward income, that benefit doesn’t apply to receiving salaries.
Whenever you obtain your wage, you ideally need it to be in a protected, regular coin that may more than likely not recognize a lot in worth over the short-term however extra importantly may also not considerably drop in worth over that very same interval.
That’s the place saving in stablecoins is available in. Because the identify implies, stablecoins are much less unstable crypto property that keep their worth by being linked to invaluable, dependable property comparable to gold or the US Greenback.
Because the US Greenback is essentially the most widely-recognized foreign money, USDT, the cryptocurrency pegged to the US Greenback is the stablecoin of alternative for freelancers and distant employees.
To acquire USDT, you’ll be able to swap for it, commerce, and even earn it. All these might be completed on a dependable cryptocurrency change.