I strongly suggest you grab a Bitcoin wallet when you travel abroad—and you'll be sure to understand after hearing why.
Bitcoin wallets might be considered a "techie only" thing by many people, but I disagree. I'm an average person who just happens to be a fan of blockchain technology—and I see the amazing potential that digital currency has. One of the biggest game changers that I've noticed about the world of crypto is how well Bitcoin works as the travel currency of choice. That's why I actually got myself a cryptocurrency wallet; I wanted to travel abroad.Now, for the typical person, this may seem pretty counterintuitive. It is my guess that you might be wondering why I'm such a huge advocate of owning a Bitcoin wallet while you go traveling around the world.
Bitcoin wallets seem like they're over-the-top, and I totally understand why. It's new tech, and it's kind of an indication that you might be a little over-geeky. Truth be told though, there's a lot of reasons why you should have a Bitcoin wallet when you travel. Traveler's checks carry way higher fees than Bitcoin debit cards do.The biggest reason you should buy a ledger wallet for your crypto when you travel deals with the price of exchanging currencies. Think about how much money it costs to get travelers' checks, exchange your currencies, and even transfer money.The red tape you have to deal with when going through traditional methods of getting foreign currency is enough to make anyone wince. With Bitcoin, all you need to do is transfer your coins into a debit card. The debit card will instantly exchange your coins for the fiat currency of the country you're in.
Many cards, such as Bitpay, are usable in hundreds of countries. It's a good way to have a backup form of currency. That said, exchange rates can eat up a hefty portion of your spending money—but there are feasible options to pursue that can remediate that. Not carrying cash on you is a smart idea when traveling in certain places. Do you know what one of the smartest reasons to get a Bitcoin wallet is while traveling? It deals with theft. Pickpocketing is a real problem in many parts of the world, and if you carry cash or look like a tourist, you're a target. A Bitcoin wallet can be stored on your phone via an app. If someone grabs your wallet and you didn't have a Bitcoin wallet, you would be out of luck when it comes to your travels. A cryptocurrency wallet can help you out, big time, by letting you access your cash via a Bitcoin ATM, so that you always have an emergency fund.A crypto wallet can also help you avoid fraud.
Did you know that people are willing to buy Bitcoin off you, in person? It's true. What a lot of travelers have found is that owning a Bitcoin wallet can be a good way to link up with other people who want to keep digital currency on hand. Travel is all about trying new things. This is a new thing! This is an easy way to learn more about local culture, make new friends, and a sign it's time to sell your Bitcoin. Why not make some money (in local currency) when you can? In certain cases, having Bitcoin can allow you to spend more money than you would otherwise be able to. There have been some cases where banks refused to allow people to withdraw more than a set amount in cash. During Grexit, banks only allowed people to withdraw $60 or so per day. If you own a Bitcoin wallet, you can still spend more money—and as a traveler, that can make a huge difference in how well your life works abroad. Using Bitcoin rather than credit can make a huge difference in how well your bank account handles your trip. After all, you don't want to add credit card debt to your account while you're on the go, do you?
If Bitcoin spikes while you're on a trip, you might be able to treat yourself.
If you're the type of person to HODL for dear life, you might not like this reason. However, you should still hear me out. Bitcoin is a volatile currency and it has its ups and downs; we all know that fiat money affects Bitcoin prices, right? If the value of Bitcoin spikes, you might be able to enjoy a nice splurge during your trip. Traveling with Bitcoin is cool like that, especially if you're not using it as the be-all, end-all of your travel budget. If you're lucky, you may be able to extend your trip a little longer with the extra cash in your account!