If you’ve got skills with cryptocurrency, the ability to buy with them directly reduces your transfer fees and other overhead. It also means that you can hang onto as many bitcoins possible, instead of having to transfer X amount for Y dollars. Finally, it limits the risk of finding a cash machine in a new city. Here is the list of the tips that you can use to book a vacation with Bitcoin.
Bitcoin Leads the Pack
While other cryptocurrency prices are going up, Bitcoin is leading the charge to be accepted as currency in retail around the world. This is due, in part, to the price of Bitcoin continually going up in recent history. If you have Bitcoin in your virtual wallet the risk of finding yourself out of money is very unlikely. However, as a smart traveler in the Czech Republic will carry euros as well as koruna, it’s a good idea to also have cards and local currency.
No Internet, No Bitcoin
Your bitcoin wallet must be connected to function. No internet, no money. If your travels will take you anywhere that could make access to the internet a challenge, for you or the retailer, it’s a good idea to have a backup. Additionally, you may find something at a street fair that you have to have, so keeping your phone close and currency in your pocket could reduce your risk of theft or loss.
Metro Centers Love Bitcoin
If you’re head to any major world city, you’ll probably have no trouble finding a community that is open to taking bitcoin. However, if you plan any travel off the metro path, you may not be able to use your bitcoin vacation dollars. Again, stay diversified. Spend your bitcoin in Berlin and have a blast. Just in case you get the chance to head out into the hinterlands and try on your lederhosen, bring currency.
Security is a Risk
If you have a lot of bitcoin, check into splitting your travel funds off for the sake of security. While bitcoin as a currency is extremely secure, it’s rather untethered nature means a theft can be hard to stop and even harder to recover. Because it falls under no central authority, the loss of it may mean that anything hacked from you is gone forever. Only activate what you need for your trip and store your main stash in an offline wallet to protect those bitcoin from theft by hackers.
Backup Regularly
Do a backup of your wallet in its entirety, especially if you choose to take part of it offline. Make sure that you also encrypt these backups if they’re kept online. Bitcoin is growing in value and any source of this valuable cryptocurrency will draw the attention of thieves. Additionally, keep a copy of your offline backup password for someone you trust to share with loved ones in the event you’re incapacitated or injured. It seems grim, but a bad injury or illness when traveling can be costly. If you have the majority of your bitcoin in an offline wallet and need it quickly, a family member or close friend can be invaluable.
Pay Attention to Borders
While many major cities have bitcoin-friendly communities, there are nations that don’t accept it at all. Of course, this will be in flux for years to come, but be sure to check out the national prohibitions on cryptocurrencies before you arrive somewhere and find yourself all monied up and nowhere to spend it.Â
Make Sure You Can Get Another Phone Fast
If your phone takes a header, your money is unreachable until you get another phone. Carry the data you need to order another should your phone be damaged or stolen. Of course, you’ll have your backup currency and cards, so you should still be able to make the purchases you need, but having your phone and knowing that your travel wallet is still present and accounted for will be a relief.
Travel makes the world smaller and a bit more knowable. Bitcoin access around the world makes you part of a specific community. Don’t limit yourself only to bitcoin; be ready to buy with local currency as well as a few cards, and spending money will not be an issue on your next trip.
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