Fiverr is a popular freelance website known for offering different services ranging from writing to graphics design, website creation to SEO services, etc. According to research, Fiverr is the best freelance platform in the world and it used the world’s largest cryptocurrency known as bitcoin. Have you asked questions like “can I use bitcoin for payment on Fiverr?” or “why can’t I find BTC in the payment options on Fiverr?”, then this article is for you because it contains a piece of well-detailed information about your questions or confusions? Let’s dive into it. Let’s know more about Fiverr Accept Bitcoin.
Fiverr launched about 12 years ago, and offers gigs made by its freelancers for as low as $5. After considering its advantages, Fiverr officially added Bitcoin to its payment options. Bitcoin has good qualities which include faster, cheap cross-border exchange of funds and supporting micro-transactions making it a favorable option for freelancers because they normally work on small and big projects for clients all over the world. For 3 years, bitcoin was used by clients to order gigs on Fiverr. This step was a very profitable one for Fiverr and it made it easier for clients to make payments, it increased the fame of the website and it also made it one of the largest users of bitcoin but after almost three years after its approval, Fiverr announced the removal of bitcoin from its payments options due to some questionable reasons best known to them. According to reports, the freelance platform sent out an email to its holders. The email contained a public notice informing its users that the removal of bitcoin from its payment options will be effective from the 19th of January, 2017. The notice was very disappointing to those who have been using the bitcoin payment option regularly.
Why bitcoin is not accepted on Fiverr
There have been rumors about why bitcoin is not accepted on Fiverr. Though the main reasons are not known, some precise reasons are written below:
• Its a business decision
• Lack of interest among its customers
It is a Business Decision
According to research, during a search session with an agent of Fiverr, the agent stated that it is purely a “business decision” with no further elaboration.
Lack Of Interest Among Its Customers
Despite the rise in bitcoin users globally, Fiverr still removed the usage of bitcoin from their platform. If Fiverr had continued with bitcoin, the website will be been in a better rank today on the internet. According to the website, not all its users make use of the bitcoin payment option therefore they had to remove it.
What Effect Does the Removal of Bitcoin has on Fiverr
The following effects came up as a result of the removal of bitcoin from Fiverr
• Reduce its customers
• Profit loss
Reduce Its Customers
Despite the rapid growth of the website, the number of customers is still reduced. You can imagine if bitcoin was still used by Fiverr, there would have been more customers on the website today.
Profit Loss
If there was still a partnership between Fiverr and bitcoin, then Fiverr would have profited even more than they have today.
Will Bitcoin Be Again Accepted On Fiverr
At the moment, Fiverr is an unpredictable website. But since 2017, Fiverr has not considered adding bitcoin to its payment options and nobody knows if it is going to be added any sooner.
What Other Payment Methods Fiverr Uses
Fiverr uses other methods which are listed below
- Credit Card
- PayPal
- Fiverr Credits or
- Existing Fiverr Balance.
- Payoneer
Conclusion
Fiverr the best Freelance service in the world stopped accepting bitcoin despite the rise in the value of the cryptocurrency. For some reasons best known to them, the website prepares other payment options than bitcoin.
This has caused a reduction in the number of its customers. Some of its customers went to other freelance websites where bitcoin was accepted. It also reduced the income of the website.
There has been no news about the reapproval of bitcoin on Fiverr therefore you can use the credit card, Paypal, Fiverr credits, existing Fiverr balance, or Payoneer options for your withdrawal
Frequently Asked Questions
1) What is freelancing?
Freelancing is a process whereby sellers offer services to clients mostly online.
2)Which is the best withdrawal option on Fiverr?
There a several options for withdrawal on Fiverr. It is left for you to choose the one that best suits you.
3) What is cryptocurrency?
Unlike US dollars, cryptocurrency is an encrypted digital
an exchange that is not decentralized.
4) What is the worth of bitcoin?
As of the 4th of June 2022, the worth of a bitcoin is $29572.80
