I opened a ticket a week ago but unfortunately the auto response wasn’t helpful so I’m hoping I can get some advice here instead.
I’m a freelancer and have many clients asking me to start taking Crypto as payment and I’ve been looking into Metamask as a wallet, but have several questions I need answering before I can continue.
Question 1:
As I just want to get paid for the work I do and not speculate on the Crypto market, I wanted to start accepting payment in USDC as it’s stable, and some clients expressed they wish to pay me in this manner on the ERC20 network.
So my first question is can I accept payment as USDC directly into Metamask and if so, do I need to change anything to be able to do this or will wit work under the default setup? I’m trying to keep things as simple as possible
Question 2:
Once I’ve received payment in USDC am I right in assuming I can then just send the USDC to an any exchange like Coinbase to sell it directly? If so would it incur gas fees or transaction fees on Metamask and Coinbase’s end, or at just one or the other? I don’t entirely understand how it works when it comes to fee as I’m sure you can tell.
I’ve been missing out on clients who want to pay this way so any help is much appreciated so I can get started accepting payments as soon as possible!
Thanks.
Hey @Kaide, welcome to the MetaMask community! Glad to have you here
Question 1: You can definitely accept payment as USDC directly into MetaMask. All you have to do is provide them with your address, which can be easily copied and pasted from the wallet’s interface. One thing to keep in mind - make sure you know what network they are sending the payment in, whether it be Ethereum, Polygon, Binance Smart Chain, etc.
Question 2: You can send your USDC to any exchange that accepts USDC. From there, you will be able to sell it. It will cost gas fees to transfer from your MetaMask wallet to an exchange, which is paid out to the network. This is a one-time fee for your transaction.
Hey @nakedwinnie thanks so much for the fast response and your helpful answers!
Just to clarify, you mentioned make sure I know what network they are sending the payment in, whether it be Ethereum, Polygon, Binance Smart Chain, etc.
The info I was given was that they wanted to pay in USDC on the ERC20 Network, is that all I need or is there more information I should request?
Again thank you so much for your prompt response, it’s very much appreciated!
ERC20 is actually not a network, but rather a token standard. What I’m guessing they mean is that they will be sending USDC as an ERC20 token on Ethereum, but I would definitely clarify.
