Got offered a decent project last week but the client wants to pay me entirely in Bitcoin or Ethereum. I've never dealt with crypto payments before and I'm worried about the volatility and tax implications. Should I just decline or is there a smart way to handle this?
Lock in a price in regular currency first, then convert that fixed amount to crypto on payment day - that way the client gets their preferred method but you're not exposed to wild swings between agreement and when you actually get paid. The bigger issue is tax reporting, which varies wildly by location, so definitely talk to an accountant before accepting because you'll need to document the fair market value of the crypto on the day you received it, and that becomes a headache if the IRS or your local tax authority comes knocking. If the client's legit and the project's solid, it's totally doable, but don't let them pressure you into accepting payment in whatever the exchange rate happens to be when they feel like paying - get it in writing with a dollar amount that they agree to convert.
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