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Feature Request: Petition for more withdraw options

fred_virtualab
Active Member
Fred V Member Since: Nov 25, 2016
1 of 14

Hello to all,

Here and kindly I would like to ask upwork to add more options for withdraws.
I have search on the forum and it turns out this is a main issue among many freelancers working here with upwork.

So If you're a freelancer / Upworker and you are on the same page as me,
here is where you could leave a comment, to show the admins that you are feeling the same way as I.

Upwork offers a very limited way to us to withdraw. Do you agree? 
Here I leave some sugestions
- bitcoin
- google wallet 
- advance cash 

- serve

- venmo

- square

- cryptopay

- xapo 

- wirex

- bitpay

- swift
- payeer
- bitplastic

But the best the best the best would be BITCOIN > directly
If you have more sugestions feel free to share.
if you agree leave your message anyway.

Thanks to all 
Fred
 

benoitlussier
Ace Contributor
Benoit L Member Since: May 16, 2016
2 of 14

I don't mean to shoot down Fred's suggestions, but since you called it a petition and you mention it's a main issue I'll add my 2 cents.

 

The only options I've ever heard of in your list are Google wallet and Bitcoin. Although Bitcoin is an interesting experience, it's not even real money and it can deflate at any time. But that's for a different conversation.

 

Upwork is the only website I use which allows me to transfer funds directly to or from my canadian bank account. They handle the currency conversion and they do it for a simple flat fee that is much lower than any website, service or bank I've looked into. It's also much faster.

 

I know some countries (such as Belarus) have a harder time transfering funds, but I'll have to vote for the status quo on this one. You listed 13 companies and you ask for more suggestions. This means that Upwork would have to pay lawyers to negociate agreements with all of them; it goes well beyond the transaction fees, and like any company that wants to stay profitable those fees will be passed on to the freelancers and the clients. It only makes sense if one of those options will help a lot of people in a lot of countries, not just for a handful people.

fa4802ab
Active Member
Eric G Member Since: Oct 8, 2015
3 of 14

@Benoit L wrote:

Although Bitcoin is an interesting experience, it's not even real money and it can deflate at any time.


Well, a couple of hours of research and you'd have discovered that not only it has all the characteristics of good money: Scarcity, Liquidity, Fungibility, divisibility, portability, etc. It is the best at all of these, even better than gold.

 

Regarding deflation, it is by far the strongest currency today. 1 bitcoin is worth over $750... every year it's worth more and more, and demand for it only rises.

 

But that does not even affect it's use here, since the conversion is done instantly, so if you need to withdraw $10, you will receive the equivalent of $10 in btc.

 

And if you prefer fiat money, the option is already available.

benoitlussier
Ace Contributor
Benoit L Member Since: May 16, 2016
4 of 14

@Eric G wrote:

@Benoit L wrote:

Although Bitcoin is an interesting experience, it's not even real money and it can deflate at any time.


Well, a couple of hours of research and you'd have discovered that not only it has all the characteristics of good money: Scarcity, Liquidity, Fungibility, divisibility, portability, etc. It is the best at all of these, even better than gold.

 

Regarding deflation, it is by far the strongest currency today. 1 bitcoin is worth over $750... every year it's worth more and more, and demand for it only rises.

 

But that does not even affect it's use here, since the conversion is done instantly, so if you need to withdraw $10, you will receive the equivalent of $10 in btc.

 

And if you prefer fiat money, the option is already available.


Well, a couple of hours of research and you'd have discovered how the economy works. The International Monetary Fund and Bitcoin's own website (see question 17) disagree with your opinion which is just that, an opinion. No one can tell what will happen to Bitcoins long term.

fa4802ab
Active Member
Eric G Member Since: Oct 8, 2015
5 of 14

 


 No one can tell what will happen to Bitcoins long term.


 

Let's agree on your statement. (Before you start quoting Krugman). That's true for any investment (although I have to say that bitcoiners have done pretty well since 2009...). But they're a different breed...

 

The move of btc's price (constantly upwards in the long term so far) has no effect on this matter, since it's instantly converted instantly to any fiat. (we're not debating if then people should save bitcoin or not). 

 

 

petra_r
Community Guru
Petra R Member Since: Aug 3, 2011
6 of 14

@Eric G wrote:

@Benoit L wrote:

Although Bitcoin is an interesting experience, it's not even real money and it can deflate at any time.


Well, a couple of hours of research and you'd have discovered............


 Three seconds of research and we all discovered that you are on Upwork for no reason other than to evangelize about Bitcoin....

fa4802ab
Active Member
Eric G Member Since: Oct 8, 2015
7 of 14

Bitcoin would be awesome, very useful for many countries that have repressed economies (many of them work here). There's no risk for upwork, since the conversion to btc can be made instantly with services like bitpay.

 

 

prestonhunter
Community Guru
Preston H Member Since: Nov 24, 2014
8 of 14

I don't know that a "petition" is necessary.

 

It is obvious that if Upwork offers more choices for withdrawal methods this would only be a benefit to freelancers.

 

They are, after all, choices. If a freelancer doesn't want to use one of the new options, she would not need to.

 

Presumably the reason that Upwork does not offer more choices is because it is not "free" for them to do so. Each withdrawal option would require research and effort on the part of managment and developers. There may be fees associated with some of these choices.

 

So just because it would benefit freelancers, doesn't mean that Upwork is going to do it. Keep in mind that the target customers here are clients.

 

For example:

If freelancer "Jane Smith" decides that she will NOT use Upwork because it does not offer Google Wallet as a withdrawal option, does Upwork lose money? Not necessarily. Freelancer "Jane Smith" was not sending money to Upwork and was not going to. She was going to work on projects that clients posted. With her NOT here, what happens? The same clients are here, posting the same jobs, and a DIFFERENT freelancer (who doesn't care about Google Wallet) does the work, and Upwork still gets their money.

 

I think adding Bitcoin and other withdrawal options would be great.

 

But it sould be understandable if Upwork's motivation to add NEW withdrawal methods may be less than individual freelancer's motivation to have those options available to them.

vdubeau
Community Guru
Vince D Member Since: Feb 18, 2016
9 of 14

Personally I don't see the attraction of Bitcoin. It's not like I can go to the grocery store and pay with Bitcoins. So if I got paid with Bitcoins and had to convert it to cash to use it, what's the point?

"Remember, no matter where you go, there you are."
Buckaroo Banzai
cupidmedia
Community Guru
Jennifer D Member Since: Feb 15, 2016
10 of 14

It's extremely likely (but I don't know for sure because I don't work for Upwork) that Upwork does NOT handle their own financial transactions but instead uses a third-party payment processor (or perhaps more than one). In that case, the choice of payment options available will be limited by what their payment processor can process.

 

My 30 seconds of research showed me that no major payment processors offer bitcoin. The only payment processors that offer bitcoin are bitcoin/crypto-specific payment processors (and one or two more general ones that I'd never heard of, like rocketr). Stripe is the only larger payment processor I'd heard of that offers Bitcoin, but they're a fairly new player in the payment processor market and I doubt that a company as big as Upwork is using Stripe.

 

It also looks like none of Upwork's largest competitors offer payment in bitcoin. So there's no industry standard to do so.

 

TL;DR version: my educated guess is that Upwork use a payment processor that don't currently offer bitcoin. For Upwork to offer it they'd have to either add an additional payment processor or handle those payments themselves. Both prospects are a lot of work for what is probably very little return.

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