Digital dollars vs a bank wire for getting paid from abroad
When a client abroad can pay either way — wire to your USD account details or USDT to your address — which should a business in Africa ask for? Cost, speed, finality and paperwork, side by side.
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The short answer. Both land in your Storspay account; neither is wrong. A wire to your USD account details is free to receive and arrives in 1–2 business days; USDT to your address is free to receive and arrives in minutes. Cash-out to local currency costs 2% all-in either way. Ask for whichever the client can send fastest.
Cost
Receiving is free both ways on Storspay. The client pays a wire fee (often US$25–45) and may lose a correspondent-bank deduction on the way; a digital-dollar transfer costs the client about two cents on Base or a dollar on Tron. Your cash-out is 2% all-in either way.
Speed and finality
A wire arrives in one to two business days and can be recalled or delayed; a digital-dollar deposit arrives in minutes and is final once screened and credited. For an invoice that is already late, that difference matters.
Paperwork
Both carry an invoice reference and a statement line. A wire shows the payer’s bank and name; a deposit shows the network and the transaction reference. Your accountant can work with either; some banks still ask more questions about digital-dollar income, which is why screening results are stored with each deposit.
What to ask for
If the client already holds digital dollars, ask for USDT on Tron or USDC on Base — faster and cheaper for them. If they pay from a bank, give your USD account details. A business on Storspay can offer both on the same invoice.
How it works, in four steps
- Apply once. A verified business on a paid Storspay plan applies from the Exchange tab: a few questions about what it will trade and why, a one-time identity check for a director, the wallets it plans to use. Reply within one business day.
- Receive or convert. A client sends USDT or USDC to the address in your business name, or you convert dollars or euros from your balance at 0.75% all-in.
- Trade or hold. Keep the balance, convert between USDC and USDT at 0.25%, or trade with other verified businesses on the P2P market — taker 0.5%, makers free, settled the instant the buyer confirms.
- Cash out or send. Pay your local bank or mobile money the same business day at 2% all-in, or send to any wallet address for the network fee only.
What it costs
| Step | Fee |
|---|---|
| Receive USDC or USDT | Free |
| P2P market — taker | 0.5% (makers free) |
| Convert US dollars or euros ⇄ USDC or USDT | 0.75% all-in |
| Convert USDC ⇄ USDT | 0.25% |
| Send to a wallet address | Network fee only |
| Cash out to a local bank or mobile money | 2% all-in (1% · min US$2 to India, Indonesia, the Philippines and Thailand) |
Who this is for — and who it is not for
Businesses, and a sole trader counts: every movement is a business transaction with an invoice, a contract or work delivered. Traders are welcome as businesses and should expect what the page says plainly — verified counterparties, instant settlement and a cash-out to their own business account, not the tightest spread on the internet. Personal accounts, gifts and family transfers are not what this is.
Keep your invoices and statements for your records and ask a local accountant how income in digital dollars is taxed where you live.
Read next
- Storspay Exchange — hold, convert and trade digital dollars
- Digital dollars for African businesses
- Storspay Exchange vs P2P exchange apps
- Can a freelancer hold USD, EUR, GBP or CAD?
Storspay Exchange is in early access — apply from the Exchange page. Fees and availability are as published there on the day you read this.
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