Any month of the year is the perfect time for holidays when people go to faraway places to relax and recharge their batteries. Luckily, exploring the world has become much easier, as you can use decentralized money to plan your trips, which will greatly improve your experience. Blockchain technology and cryptocurrencies like Bitcoin have brought a lot of advantages to people and helped in making the world borderless. Even though cryptocurrencies can change their value quite rapidly, which can be noticed on the Bitcoin price chart, they still have captured the attention of individuals worldwide. This is why people and digital nomads can bounce from one location to another more easily than ever by paying for all the travel arrangements with cryptocurrencies.
If you want to travel the world using cryptocurrencies, it would be great to start with Bitcoin, as it has been in space for the longest period and is the largest digital asset by market cap. In this article, we will explore more about how digital currencies can improve tourists' travel experience worldwide.
Cryptocurrencies and holidays: Can you name a better duo?
Cryptocurrencies were born with the attributes of independence and freedom to offer people more control over their money through cross-border transactions without expensive intermediaries. Cryptocurrencies can bring many advantages to individuals, especially digital nomads, who have the flexibility to change their locations whenever they want. Digital nomads wish to experience new places and cultures and benefit from more freedom in many parts of life, including travel arrangements.
One of the best benefits of paying with crypto is that it allows you to go cashless and forget about all the hassles that involve arriving or departing from foreign countries. Cryptocurrencies are digital assets stored online, which makes them much more effective and allows you to store all your digital assets in an online alternative. Things get a lot better with cryptocurrencies, as with their help, you can pay directly or make international transfers.
Cryptocurrencies improve safety greatly, as they are online, and you will not risk people stealing your cash. However, you need to be careful if you have a cold wallet and not lose it, as if you do that, you will also lose access to your crypto funds. Cryptocurrencies will also prove helpful for emergencies, as you can send money immediately across the globe without so many fees involved.
Furthermore, did you know that it is also cheaper to pay with cryptocurrencies? Usually, foreign exchanges keep up to 3% of the amount of money transferred, but things improve with the help of cryptocurrencies, which have lowered the fees involved. Also, there are a lot of owners and retailers who offer a discount to those who purchase using Bitcoin. Another advantage is that crypto transactions can be executed 24/7 and in real-time, improving the overall experience of transfers.
Where can cryptocurrencies be used in travel?
Luckily, cryptocurrencies have been integrated into many travel operations, and now you can use digital coins for many services. For example, you can book flights via cryptocurrencies, as airlines have started to accept Bitcoin in their operations. AirBaltic is one of them, and it integrated them back in 2014 when digital coins weren't as popular as they are today.
Cryptocurrencies have also taken online travel websites by storm, as Expedia announced a long time ago, back in 2020, that it would support Ethereum, Bitcoin, and Ripple as a payment method so that crypto enthusiasts will be able to book the perfect accommodations choosing from more than 700.000 of alternatives with their favorite coin.
Cryptocurrencies can also be used to rent cars so you can discover everything you have set on your itinerary more conveniently. Digital coins can also be used for travel insurance and to improve the experiences of individuals dealing with flight delays. For example, now companies have enabled smart contract-based insurance that will allow immediate compensation for EU passengers who have experienced a delay above 3 hours. If this measure is widely adopted, then the lives of individuals will improve a lot.
The case of Felix Weis
Felix Weis is a software developer who has become quite popular on the internet after he traveled across 27 countries in 18 months only using Bitcoin. Weis was born in Luxembourg but lived in Berlin when he started his journey. He has been interested in digital coins since 2012 and set out to put his savings into Bitcoin to travel the world only using this cryptocurrency, beginning his adventure back in 2015.
Felix completed his adventure and visited 50 cities and 27 countries in 18 months, using only Bitcoin to get around. Weis couldn't use any local currency, as he could only trade Bitcoin for fiat money, and even though he might have been tempted to cheat, he didn't and managed to succeed with his plan, as he set strict rules, including no using banks, and credit cards, so that Bitcoin remained the only solution left.
Security tips you must consider
Traveling with digital assets has its own set of risks, and this is why it is important to consider some tips before starting to use them, including:
- Use a multi-signature wallet to prevent unauthorized access
- Enable two-factor authentication.Â
- Opt for a cold wallet.
Bitcoin has started to be the go-to destination for many industries, including tourism, as now travelers from all around the world can pay for all their travel arrangements using digital coins. As virtual currencies have started to catch the attention of a lot of people, we can expect to see a future where travelers will pay with their selected digital coin for booking, flights, and accommodation. Cryptocurrencies can benefit people's lives as they improve travelers' lives.
So, you know what to do if you want to have a trip without headaches.
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