The highly qualified workforce and lower rates than those charged by independent workers in the first world, give a differential value to the southern country and have benefited platforms such as Belo.
On September 21, International Freelance Day was celebrated , in commemoration of the value of the independent worker. This is a figure that has gained relevance in recent years, given the widespread use of remote work and the constant search for new sources of income for qualified personnel. Latin America is no stranger to this trend and already has a clear protagonist.
This was reflected in a March 2024 report by Nebeus, a global payments platform, which revealed that Argentina had climbed positions among the main independent work ( freelance ) markets in Latin America. It should be noted that although Argentine freelancers are the most expensive in the region, charging an average hourly rate of US$25, the truth is that their cost is still lower than that offered by their peers in the United States or the United Kingdom, whose average rates amount to US$40 per hour.
Bookipi, a billing software company , also outlines a similar scenario in a study last April: Argentina ranks third among the cheapest countries to hire freelancers , with the average rate per job estimated at US$80. The land of tango is only surpassed by Colombia (US$72) and Brazil (US$80), which shows a constant need among many Argentines to earn dollars, while the peso is still heavily devalued after years of inflation.
Looking at job performance, the Nebeus study is also encouraging: Argentine freelancers have an average rating of 4.97 out of 5, outperforming their regional peers and being competitive on a global level. In fact, they are only surpassed by Bangladesh in the Nebeus global performance ranking.
It should be noted that the main specialties of the workers are oriented towards the use of digital programs and are the following: Graphic and Visual Design (67.0%), 3D Modeling (12.6%), Animation and Graphics (4.8%), Video and Film Production (4.4%), Audio and Voice Production (4.2%) and Others (7.0%).
Amidst this boom in freelance work , professionals are forced to look for alternatives to receive international currencies without major complications. One of the platforms that has benefited from this need in the Argentine market is Belo, a digital wallet that has traditionally promoted the integration of cryptocurrencies into everyday life.
“We have seen a significant boost with the addition of new features, such as our dollar receiving account, which allows any user to receive dollars from accounts in the US or from platforms such as PayPal, Upwork, Ontop and Airbnb, providing an even more complete and efficient user experience,” says Manuel Beaudroit, CEO of Belo. The manager attributes to this initiative the fact that the platform has registered a 36% increase in dollar deposits since the beginning of 2024.
Overall, the portfolio of services has boosted the digital wallet to reach 1.2 million users and a presence in 20 countries. However, as expected, Argentina remains the important market, due to the need to avoid unfavorable exchange rates and excessive bureaucratic procedures with the use of euros, dollars and even pounds sterling and Brazilian reals.
But despite this variety of options, the US currency remains the most popular. Beaudroit explains that this is because it is the global reference currency for international payments on popular platforms and, in addition, the United States is one of the largest demanders of Argentine talent. Meanwhile, Belo has reported a significant growth in the use of cryptocurrencies among freelancers , although many of them do not perceive it directly.
“For us, cryptocurrencies are a means that allows freelancers to overcome the limitations and complexities of the traditional financial system. What we have achieved is to offer a solution where crypto acts as a bridge to bring in money from abroad, allowing freelancers to convert or use those funds in a matter of seconds, without having to deal with the technical aspects that usually create friction in the crypto world,” says Belo’s CEO.
In other words, Beaudroit argues that funds received from abroad through Belo are credited as stablecoins linked to the value of the dollar. This guarantees the best exchange rate and speed of transactions, giving users greater freedom of choice: they can convert these stablecoins to Argentine pesos at any time to operate in local currency. The other option is to keep their balance in stablecoins and still use the Belo Mastercard to pay without complications.
Among the long-term projections, Beaudroit believes that Belo's expansion into mass markets such as Brazil and Mexico is imminent, as both countries have significant freelancer bases .
“In the short term, with the arrival of summer, we see great potential in one of our most recent products: instant payments with Pix, which is the equivalent of Brazil’s “Mercado Pago.” This feature allows Belo users to pay any Brazilian using Argentine pesos or cryptocurrencies, while the recipient receives reals instantly. It is a fast, safe and economical solution to pay like a local in Brazil, without having to handle reals,” says Beaudroit.
This feature will allow Brazilian users to download Belo to charge foreign tourists or other foreigners. According to the CEO, this is the first step to position the digital wallet as a local payment solution in Brazil and soon, in Mexico.
