How to Charge for Your Web3 Freelance Work

Doing a tasking job like a Web3 freelancing is not easy, but what is more difficult is figuring out how to charge for your web3 freelance work.

Are you a blockchain developer, solidity auditor, Web 3.0 writer, or any other similar position? You may have faced the anxiety that comes with charging your clients and wondering how to get the right commission you deserve.

Previously, we wrote about Web 3.0 jobs and how to get Web 3.0 jobs which has helped thousands of our community members,  this article serves as a guide on how to charge rightly for your Web3 freelance job; read to the end.

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How to Charge for Your Web3 Freelance Work

It can be so challenging when you want to set your rates as a web3 freelancer, but having proper guidance and knowing/choosing the right method can make a big difference.

There is a list of things you need to know before setting your rate. You must understand that the price tag for your work speaks a lot about your value.

So, should you set it high to make your client believe you are equal to the task? Should you set it very low because you need the money and the connection, then go ahead to deliver excellent work so that they can refer you?

The truth is, that setting the barest minimum as a charge for your freelancing work does not end with the client. If a referral should happen, they might have already spread the news about how cheaply you can deliver amazing work.

So, what should you do to set a good and fair rate for your work?

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Know Your Worth

The first thing to do before going ahead to set your rate in web3 freelancing is to understand what you are worth. Be rooted in your niche because most Blockchain projects desire professionals and so you must be one.

Be confident in your abilities, and this would help you set a rate so that anyone who cannot afford you can pave the way for those who can.

Especially when it has to do with the blockchain industry, setting a good rate will leave you no heartbreaks.

Find Out the Budget of the Client

Every upcoming project in the crypto space has a budget by the team. If it’s an airdrop, they would have decided to share a certain amount with the community, so you need to find out how much they set aside for their freelancers, and that will help you decide.

Setting a rate first-hand is always good, but finding out the budget is even better because it’s a 50/50 case, so it may be higher or lower than your standard rate.

Explore the Market

For example, if you are a blockchain developer, it is advisable to go through the profiles of others who are in the same field as you to find out what their rates are.

This is important so that you don’t underprice your work. You can compare the budget of the team for you with the charge of every other person in the same field and know whether they are relative.

Set Your Rate

This is the most important of all. After you have compared your client’s budget with the market price by others, you can now set your rate.

However, setting your rate is not always that easy, even if you’ve surveyed the whole market and considered the client’s budget. You can decide to charge by the project, hourly, or other metrics.

Charging by Project

Charging by project means setting, like $200 for the project, and that’s what you will be paid alone. This can be before or after. However, this method can be risky unless when the scope is clearly stated. For example, the client may ask you to develop SEO articles to rank their page and watch traffic, then you understand that this is all you need to do and nothing else. However, when the scope is creepy, you may understand later on that you charged a little for more, hence you’ll find

However, when the scope is unclear, you may later realize that you charged too little for the work, and find out that there is more to the project than you initially signed up for.

Charging Hourly

You can use this method when your focus is on the time spent working. You can decide to charge $5 per hour for as long as you work on the project. However, this method requires tracking.

Other Metrics

Additionally, you can employ other metrics to set your rate for web3 freelancing, such as charging per word, which is effective for writers. Whatever metric you choose, ensure that you communicate effectively with your client.

What is Crypto Freelancing?

You could also refer to web3 freelancing as crypto freelancing. This involves doing major works for crypto projects, either related to tech or not, and charging your clients per hour or so.

Freelancing means doing a random job for random clients from the comfort of your home and charging according to your time and by the quantity/quality of the job. Still, surprised that you can make money in crypto without involving yourself in trading and all those things?

See how freelancing opportunities can make money in crypto apart from trading and mining.

Web3 Freelance Jobs to Apply for

In case you are not yet clear on this, you can find crypto freelance jobs across the internet and apply for them. It is easier to make money in crypto, and there are a lot of ways you can do that.

If you are interested in applying for web3 freelancing jobs, you need not panic about not being into tech. Below is a list of freelancing opportunities in web3:

• Content writing/creation
• Blockchain development
• Solidity audition

There are more you can find depending on your level of experience and skill. There are tech-related opportunities as well as non-tech related.

Find freelancing jobs on Indeed.

Conclusion

Figuring out how to charge for your web3 freelance work may have been a concern for you. Consider researching the market to determine what others are charging for similar services, understand your client’s budget if possible, and then set your rate.

It’s crucial to consider the client’s budget before setting your rate, especially when charging hourly or per word, rather than by project.

Furthermore, you can calculate your web3 freelancing rates by adding your annual income and expenses and then dividing by billable hours.

Do this carefully, communicate your final rate with your client, and negotiate with them.

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