Real Life Applications Of Bitcoin – Bitcoin For Travel
Since its inception, Bitcoin has been breaking all of its barriers and came a long way. It has attracted investors all over the world and spread its dominance in the Cryptocurrency market. Unlike most of the altcoins, Bitcoin has a lot of real-life applications. That’s because of its wide acceptance. This cryptocurrency is emerging as an effective payment option for a lot of applications and platforms. A lot of retailers in the market, both offline and online, are accepting Bitcoin payments just like any other fiat currency payments. But this is not the case when the crypto revolution started. The wide acceptance and ease of transactions seemed impossible in the beginning. This is the case even now for most of the altcoins, but with respect to Bitcoin, it really does have a lot of real-life applications. Bitcoin did really change the way our world transacts and is giving a strong competition to fiat currencies and centralised financial institutions.
Bitcoin’s fundamental principle of being a global currency is one of the main reasons why it is the best currency for travel. If you have ever travelled abroad, you would know the problems international travellers face with respect to money and conversions. But with Bitcoin, you can eliminate most of that hassle and can peacefully rely on this one globally accepted cryptocurrency alone.
Before understanding what Bitcoin can do, and how it can be more suitable currency during international travels, let’s quickly look at the problems travellers face with the current currency system whole travelling abroad.
Currency Conversion is one of the most annoying things travellers have to go through while travelling abroad. Long queues at the airport, unavailability of the required amount, unexpected fluctuations in the exchange rates are only some of the many problems travellers face while converting their currencies to the local currencies. On top of that, carrying a huge amount of physical cash is extremely unsafe.
Frauds can happen anytime while you are transacting abroad, and you will be almost helpless. For instance, if you are using your credit card in a foreign country, you are basically giving your payment credentials to the unfamiliar foreign merchants. These merchants can expose your credentials to criminals with or without their intention. There are a lot of cases where travellers suffered these bank frauds and had to undergo an extensive process to get back their money.
High Fees can also be considered as an important problem. Despite a lot of trouble in converting your currency to the local currency, you will also have to pay high fees for this conversion. You will never be exactly sure about these exchange rates and its always an approximate calculation. In airports especially, these conversion charges will be extremely high.
But Bitcoin eliminates almost all of these problems. There is no problem of waiting near the currency exchange, paying a high fee for that conversion, carrying hard cash, and getting affected by the frauds. This makes Bitcoin the best currency for international travel. The value of Bitcoin remains the same all over the world. Since it is a global currency, it is accepted in most of the airports and even in restaurants, hotels, lounges, supermarkets, etc.
But the majority of the expenses travellers have to bear while travelling abroad are the travel tickets itself. A lot of travel agencies are accepting Bitcoins as payment from their customers to book flights, trains, and hotels. Some of those companies are listed below
Bitcoin Travel started its operations in the mid of 2011. It is one of the most reliable and credible sites dedicated to travel. Users can book anything from flights, hotels, any of the other listed tourist attractions and can pay through Bitcoins.
Website URL – https://bitcoin.travel/
Users can book both domestic and international flights through this website. They accept Bitcoins as payments to book flights since 2013. Along with Bitcoins, they also accept some of the major altcoins like Dash, Litecoin, Bitcoin Cash, etc. The transactions you make on this website are processed using your Coinbase wallet.
Website URL – https://www.cheapair.com/
This website accepts Bitcoins, Litecoin, Dogecoin, and Dash to book hotels and flight tickets through their website. You can use generic crypto wallets like BitPay and GoCoin to process the transactions. Their user-friendly website will allow you to book these tickets seamlessly with zero hassle.
Website URL – https://btctrip.com/
This online travel website is based out of Lithuania, and they allow you to book flight tickets using Bitcoins. They also feature a lot of tips related to the usage of Bitcoin for travelling and making payments.
Website URL – https://www.abitsky.com/
This online booking agency allows its customers to book flights to over 50 different locations around the world. They are one of the early adopters of Bitcoin payments as they started accepting Bitcoin from 2014. airBaltic uses BitPay in order to process Bitcoins payments.
Website URL – https://www.airbaltic.com
This is one of the most credible travel booking agencies in the world. They accept Bitcoins from their customers as payments to book flight tickets and hotel rooms across the globe. They have partnered with Coinbase to make this crypto payment option possible through their website. Currently, they only accept BTC, and most probably they might also accept major altcoins with time.
Website URL – https://www.expedia.com/
Bitcoin Travel Stories
Below are a couple of fascinating Bitcoin travel stories that you might find interesting.
Financing a Trek to Everest Base Camp Through Crypto Trading
Image credits to this Forbes Article
Blake Sandall is a digital nomad who prefers to trade cryptocurrencies while travelling the world. He gets his daily crypto updates as SMS messages, rather than emails. He does this to eliminate the problem of internet connectivity while travelling in remote locations. He purchases a local SIM card on his arrival to the remote location and doesn’t rely on any internet cafes. Sandall’s most exciting trade was in early 2018, where he made around $960 in profit by selling Ethereum. He used that money to finance a trek to Everest Base Camp.
World Trip Using Only Bitcoin
Felix Weis is an avid traveller and crypto enthusiast. This Luxemburg based traveller spent almost 18 months in travelling the world using Bitcoin alone in 2015. He visited around 27 countries across the globe, which includes urban countries like Tokyo and sub-urban countries like Cuba. However, it is challenging travelling to rural countries using Bitcoins because of its lesser acceptance and unavailability of the internet.
Image credits to this Forbes Article
Weis made three rules to travel the world using Bitcoin. The first one is that he shouldn’t use any of the fiat currencies or credit cards. Second is to not use any of the wire transfers and exchange one national currency into another. The third is to pay with Bitcoins as often as possible. In case Bitcoins are not accepted, he is supposed to acquire cash using P2P networks. He completed his travel to 27 different countries using just Bitcoins and is very proud of his achievement.
Hence Bitcoin has huge potential and a lot of opportunities in the area of domestic and international travel.