Uwerx (WERX)’s 5% Service Fee Makes It a Better Alternative to Upwork and Fiverr
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More people are turning to the freelance economy to make a living in a rapidly changing work landscape.
By 2027, statistics show that almost half of all US workers will have engaged in the gig economy.
While Upwork and Fiverr have established themselves as major players in the freelancing market, a new contender has emerged – Uwerx.
We'll look at why Uwerx might be the best option for clients and freelancers trying to maximize their time and resources in this article.
Upwork is a popular online freelance marketplace. The platform connects businesses with skilled freelancers from various industries.
Upwork boasts an impressive 793,000 active clients in 2021 and a total gross services volume of $3.5 billion.
To facilitate the connection between clients and freelancers, Upwork uses an internal currency called Connects.
Upwork also implements a tiered service fee system based on earnings from a client. Those who make between $0 and $500 are charged a 20% service fee.
Customers with an annual income of $500.01 to $10,000 will incur a 10% service fee. Others who earn $10,000.01 or more per year will be charged a reduced service fee of 5%.
In the digital realm of commerce, Fiverr is a bustling marketplace for skilled professionals to flex their expertise and secure a steady income stream.
Meanwhile, clients can effortlessly enlist the aid of these talented freelancers without breaking the bank.
Fiverr's primary source of revenue is derived from its service charges, which include a 20% service fee.
Interestingly, Fiverr's take rate has experienced a linear growth trend since 2017, increasing from 24.5% to its current level.
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