Microlancer records 37 Million Satoshis in business through its freelancing platform. Microlancer.io is a platform that frees up clients and freelancers by removing the constraint of money bound by geography and banking restrictions.
Instead of making askers and taskers lose money to their banks’ fees for small and frequent microtransactions, the freelance platform uses Bitcoin satoshis, one Bitcoin has 100 million satoshis, or “sats”.
Microlancer has already done around 37M sats worth of business, which doesn’t sound like much, but when calculated in BTC (0.37 BTC), it is quite a sum for the young startup.
Microlancer began in 2018 but started gathering steam in January 2022. In this short period, the company already has 231 members on its Telegram Channel, over 6k total users, 96k messages sent, and over 10k reviews given. A total of 14k lightning invoices have been paid.
Powered By Lightning
This is how the remote work revolution will truly take shape. Not just on Microlancer, but on every freelance platform, as well as social media.
People will start getting paid for their ideas, suggestions, feedback, and likes & retweets on their content posted on Twitter, Facebook, Instagram, VK, YouTube, Odysee, etc.
Decentralized social media platforms are taking shape to challenge the ‘mainstream’ social media platforms:
(Telegram has multiple LN payment/tip bots)
|⬇️ Amazon Mturk
Microlancer is taking the freelancing world by storm
If Twitter wants to continue to thrive, it must fully integrate Lightning tips and add the 21-million-max-supply-capped-hard-money Bitcoin. And if freelancing platforms want to succeed, they will have to compete against disruptors like Micorlancer who are built on Lightning and Bitcoin.
The Potential Of Microlancer
As an asker (i.e. client, contest holder, brand, business, company), a user can create all kinds of tasks as well as hold contests like you would on SloganSlingers or Tongal.
The system on Microlancer has a few neat steps using Escrow payments. These ensure total control and transparency in the work process for both the Tasker and the Asker:
- The Asker creates a task, gives the details of what needs to be done, and sets a payment per task. It can be as low as 1 satoshi too.
- The Taskers look at this in the list of available tasks and decide if it is worthwhile. If they think it is, they signal readiness with the message “I can do the task”.
- The Asker then funds the escrow with the payment.
- The Taskers then are assured that the payment is now held with Microlancer and proceed to complete the task. Taskers post the proof of task completion using screenshots or other proof as requested by the Asker in individual threads under the task.
- The Asker verifies each claim and then pays out the Taskers who did the task as desired.
- After the transaction is complete both leave feedback and rate each other, which helps future Taskers and Askers to judge who to trust for their tasks and payments.
The Microlancer Payment System
The payment system is super smooth. An Asker can fund their Microlancer balance with lots of sats or even fund individual escrow on a case-by-case basis without keeping his/her money on Microlancer.
A Tasker can immediately withdraw even 10 or 50 sats earned on a task. This would be impossible using traditional payment options, but with The Bitcoin Lightning Network, it is simple and elegant!
To fund a Microlancer balance or escrow, an Asker simply needs to paste the invoice text that the site generates into his/her own Lightning wallet and the payment gets sent to Microlancer.
To withdraw from Microlancer balance, a Tasker simply needs to type in the number of sats they want to withdraw on their own Lightning wallet and paste the invoice text into the Withdraw box on Microlancer.
Payments go through at lightning speed within seconds. Try that with PayPal or your bank!
PayPal has taken an uncountable amount of money from Freelancers’ pockets over the years.
Microlancer and The Bitcoin Lightning Network are here to stop this unnecessary loss