Traveling With Bitcoin: Is It Possible And Safe?

Traveling With Bitcoin

Bitcoin’s popularity among crypto users increased so much that now people try using it as a means of payment for their vacations. Although it sounds like a great idea, the truth is that it might be complicated to find vendors accepting it since Bitcoin’s volatility might make the purchasing process more or less profitable for both parties. If you want to learn how to buy Bitcoin and use it for plane tickets or accommodation, you need to be wary of the risk factors besides the benefits. 

Choosing Bitcoin for traveling is still acceptable because most countries primarily use cryptocurrency. You can find Bitcoin ATMs at least in one location within the city you’re visiting. However, you need to make a thorough research before to ensure you won’t be left stuck in a county with no reliable currency., 

Here are some tips on safely traveling with Bitcoin anywhere in the world. 

Research The Countries Accepting Bitcoin

Although Bitcoin is present in most countries and its worldwide acceptance has been discussed recently, some regions chose not to engage in cryptocurrency exchange and banned Bitcoin from users to use, such as China, Bolivia or Algeria. On the other hand, in some countries, such as El Salvador, Bitcoin is officially recognized as a legal tender, so it’s the perfect place to go cashless and leverage your digital assets.

Some countries, however, have not banned Bitcoin. Still, since cryptocurrency is not used and people stick to official currency, you may not find vendors fond of cryptocurrency payments, and ATMs are not available anywhere.

Book A Flight With Cryptocurrency

After choosing the country you wish to visit, it’s time to book a flight, but this is where things get complicated because finding a reliable flight booking service that accepts Bitcoin is a real challenge. Ensure the website is certified and has all the features a regular flight booking website has. Research the company’s validity thoroughly before purchasing your ticket.

Book Accommodation With Crypto

Fortunately, many more hotels and accommodations accept Bitcoin as means of payment. So, you can find a good place to stay and choose between options where crypto is allowed. However, you need to be wary that many of these services aren’t properly updated, and it might happen that when going to the checkout section, there’s no option of paying with Bitcoin.

Driving To And From The Airport

You have two options for car transport around the airport. You either rent a car or pay for taxis and similar services with crypto. Renting a car with Bitcoin might be difficult because many accept this payment over the counter, as this service is still not correctly adapted to top crypto transactions.

Buying Food With Bitcoin

You also need to prepare to research the restaurants available to accept Bitcoin because there might not be a lot around your area. Some applications show you what local places offer this payment option, so you can see if there is something to eat around. Although you might not find varied meals, lowering your expectations is better.

Staying Safe While Paying With Bitcoin

Of course, using Bitcoin or other digital cryptocurrencies doesn’t mean you’re 100% safe. Your assets are already prone to volatility, but using them might be risky, considering all the scammers who take advantage of any payment form. Therefore, you must be careful with the websites you’re introducing your financial information to. 

Here are some guidelines on staying safe while purchasing your traveling tickets with Bitcoin:

  • Use a hardware wallet for regular transactions since it’s the safest way of keeping your digital coins;
  • Opt for a multi-signature wallet for savings in case you lose your phone or choose to leave your hardware wallet at home;
  • Prioritize two-factor authentication for your banking, email or social media platforms to secure your data;
  • Use website resources to find Bitcoin-friendly cities that accept the cryptocurrency and the government has adapted it to its economy;
  • Find a community crypto meet-up and widen your friend list with people who use cryptocurrencies to learn more about its capabilities in different countries;

Why Would You Pay With Bitcoin While Traveling?

We’re used to paying for everything with cash or credit cards, but when it comes to cryptocurrencies as a means of payment, you can benefit greatly from this option. First, it’s a secure payment method since blockchain technology recently improved. Using digital networks for payments doesn’t associate your true identity with the purchase, so your data is secured.

At the same time, many other cryptocurrencies are accepted by travel agencies and accommodations, such as Ethereum, whose value increased considerably this year. The options might widen depending on where you travel so that you can use your Doge for your flight tickets. It’s safe to say that using cryptocurrencies for traveling abroad is the best choice since exchange or withdrawal fees can sometimes be exaggerated.

Plus, Bitcoin doesn’t interfere with other third parties while booking accommodation or transport when traveling since it operates without the need for support from a central banking system. This helps minimize the chances of transaction delays or even tracking your recordings.

Volatility, The Biggest Disadvantage Of Paying With Biotin For Your Vacation

Unfortunately, volatility is the most significant disadvantage of paying for tickets with Bitcoin. Although cryptocurrency is one of the trusted assets when it comes to investing, the dramatic high and low rates it can experience might make you want to stick with cash. You can buy an entire week of accommodation with Bitcoin today. Still, tomorrow the coin may value the equivalent of a sandwich, which is unreliable when traveling cashless.

At the same time, if you encounter an issue, there’s no customer support available, like in the case of credit cards, which might leave you without money or tickets. So, you must choose wisely when traveling with Bitcoin anywhere in the world.

Bottom Line

Traveling with Bitcoin is possible almost anywhere in the world and has plenty of benefits. However, it might be tricky to rely only on Bitcoin due to increased volatility and a lack of vendors offering services accepting cryptocurrency.