Why Every Online Freelancer Should Love Bitcoin

Kyle Torpey @kyletorpey
January 31, 2014
The lives of freelancers can be improved through Bitcoin. Picture via Giorgio Montersino.

The job market for online freelancers has been booming over the past few years, and it’s only going to continue to grow as more people realize they can earn more money by offering their services as a freelancer over the Internet. Whether you’re a graphic designer, programmer, writer, or any other type of worker who only needs a laptop to get the job done, it’s rather easy to use a website such as oDesk to find work from the comfort of your own bedroom. This solution works well for someone who wants to work from home, but there is still plenty of room for improvement. Bitcoin should be able to improve the lives of online freelancers by cutting out middlemen and offering instant payments.

Get Paid Now

I’ve been freelancing as a writer for the past four or five years, so I have a deep connection with the kinds of problems that can be found when it’s time to get paid. Although some people think that getting ripped off is the biggest concern for online freelancers, that really hasn’t been a problem for me. In reality, the biggest financial issues I’ve had working from my computer involve slow payments and middlemen. I’ve used every payment system under the sun to try to find something that gets my payments sent to me as quickly as possible without charging me huge fees, but there always seems to be some kind of issue that pops up. With something like PayPal, you’re going to end up giving them a 3% cut of everything you earn. Sure, you can get the money sent to you right away, but that 3% fee seems rather unjust. After all, you’re the one who did all the work. I actually became interested in Dwolla around the same time I found out about Bitcoin. Dwolla offers money transfers for a flat fee of $0.25, but the problem there is that you need to wait 3-4 days for the money to eventually hit your bank account. With Bitcoin, you get the best of both worlds: instant payments without the PayPal or credit card fees. Having said that, we’ll also need to eventually replace the centralized job marketplaces because they also like to take anywhere from 10-30% of your earnings.

A Decentralized Job Market

A decentralized job marketplace is actually one of the Bitcoin 2.0 applications that I’m looking forward to the most. In the near future, you won’t need to log on to oDesk, Freelancer, Textbroker, or any other centralized hub for finding work. Employers and freelancers will be able to find each other on some sort of decentralized market that uses the same kind of reputation system found on many online job marketplaces today. There’s no reason to give someone else a cut of your earnings because we can now meet with each other and discuss the terms of a deal in a P2P manner.

Last modified (UTC): April 20, 2014 18:28

Tags: Bitcoin
Kyle Torpey @kyletorpey

Kyle is a freelance Bitcoin writer and the Marketing Director for Bitcloud. His work has been featured on Business Insider, VICE Motherboard, Let's Talk Bitcoin, and RT's Keiser Report . You can follow him on Twitter (@kyletorpey) or send him an email.