Thanks to the Internet, globalization, the popularity of cryptocurrency, the borders between the countries have been considerably blurred. With bitcoin or Ethereum, you can become a real digital nomad bounced from country to country without the need to worry about finding a favorable exchange rate of your money to local currency.
In any case, you should know to make the best use of crypto currency in travel and how to protect your coins. Here are the Top 10 tips from experienced crypto nomads on staying safe and having fun while traveling with cryptocurrency.
Use Hardware Wallet for Daily Transactions
Hardware wallets are recommended for storage of large sums of coins (over $1,000 in coins). Given that the price of such wallets is in the range of $100 — this is a relatively minor costs for holders of a large coins amounts.
Feliz Weis, who traveled around the world for 18 months spending only bitcoin, use a Trezor wallet. He was so committed to safeguarding his funds, he even traveled to the Czech Republic to pick up the wallet personally.
Keep Your Savings in a Multi-signature Wallet
If you keep money for daily expenses in the hardware wallet, use a multi-signature wallet for savings.
“Consider all available ‘What if’ variants. What happens if you lose your cellphone? Do you have a backup of your wallet? Is it worth taking your hardware wallet anywhere with you, or is it better to leave it at home, in a safe?” advises Bryan Micon, a crypto trader and traveler.
Make a list of Bitcoin-friendly Cities
If you want to travel, paying in bitcoins, it makes sense to go to bitcoin-friendly countries, with higher density of BTC-accepting businesses. Bitcoin directory CoinMap offers a lists of bitcoin-accepting venues around the world. Keep in mind that the data on CoinMap is added by users, so when planning a trip, it is better to check the relevance of the information. It would be a great shame to plan a trip to Beijing, and then find out the crypto currency exchange was recently banned.
Always Use Two-factor Authentication
Tech-centric of crypto-community is a double-edged sword. one of the best parts about crypto is also one of the worst. Protecting your digital identity is highly important when you are spending your coins. All crypto travelers have use two-factor authentication on their important accounts, including email, banking, and social media. Moreover, some experts recommend to have two-factor authentication on anything that even lists your home address, including sites like Amazon and eBay.
Create a Google Voice Account Linked to Different Email
Making a Google Voice phone number is a good digital security tip for all travelers, but even more important when you are traveling with crypto. Remember that your mobile and landline phones are very easy to track and link to your identity, so use your Google Voice phone number for everything while traveling.
Use Destinia.com for Booking Tickets
Purchase Fizzy, Blockchain Based Flight Insurance
French insurance giant AXA offers an Ethereum-based flight insurance product, called Fizzy. As a rule, travel insurance is such a huge headache, but thanks to blockchain, Fizzy offers automatic insurance claims. Since cancellations and delays are well documented, air travel insurance is great for implementation in the form of a smart contract. Experts expect that in the near future similar blockchain-based contracts will appear in other areas.
Talk to Other Crypto Fans
Communication with like-minded people will make your trip even more fun, and useful advice and support will help to overcome difficulties.
Crypto traveler Gili Gershonok tells that the crypto community helps her feel at home no matter where she is in the world, whether it is Spain, the United Kingdom or Thailand.
Connect with Other Crypto Nomads for P2P Exchanges
Crypto traveler Feliz Weis relies only on community members to exchange BTC for fiat or other goods. To find fellow enthusiasts he used the site LocalBitcoins.
Be Flexible in Your Route Planning
Anas Almohammad, a 26-year-old crypto fan, living in Dubai, book flights on CheapAir, although he has to fly not from his native city, but from Abu Dhabi. The programmer began to use bitcoins one of the first and does not pay attention to inconveniences, considering it important to encourage the development of crypto-currencies.