The cryptocurrency bitcoin has been making headlines all over the world for its meteoric rise in value and its potential to make financial transactions more efficient and safer. If you are planing to Travelling with Bitcoin then we can guide you. But there’s another side to the digital currency, especially if you’re itching to go on a road trip with bitcoin. Planning a road trip? Or just looking to spend your digital currency? Here’s everything you need to know about spending bitcoin on the go. In this article, we will give you The Ultimate Guide to Traveling with Bitcoin.
What is Bitcoin?
Bitcoin is a digital currency. It’s created by computers, and it can be transferred from one person to another without going through a bank or other third party.
If you’re new to bitcoin, you can use it just like regular money to buy goods and services online and in stores, or even make donations.
What are the advantages of using bitcoin?
There are several advantages to using bitcoin over other currencies:
It’s anonymous: Unlike credit cards or debit cards that require you to enter personal information like an address and phone number, bitcoin transactions are anonymous. This makes them ideal for privacy-conscious people who prefer not to share their personal information with merchants.
It’s decentralized: There is no central authority controlling the supply of bitcoins or managing their value. Instead, all transactions are recorded on a public ledger called the blockchain that anyone can view but cannot change (unless they have enough computing power). This makes it difficult for hackers to steal your bitcoins but also means there is no one entity that can freeze your account or take down your website if you violate its terms of service (like PayPal).
How to Spend Bitcoin?
The bitcoin market is really starting to explode. There are a lot of retailers that have started accepting bitcoins and more will follow suit in the near future. Bitcoin is becoming an accepted currency among many people across multiple countries. Nowadays, you can use bitcoin in almost any shop or restaurant, and it is accepted as a mode of payment by many people across the globe. The more people that start using bitcoin, the more its value will increase, and the more popular it will become. In fact, there are already so many different ways to spend bitcoin that it can be hard to keep track of them all! Luckily for you, we’ve got your back. We’ve gathered up some of the best places where you can spend your bitcoins, from online stores to restaurants and even hotels.
It’s all about the user experience. When you spend Bitcoin, you’re usually using it to make a purchase online; when you spend Ether, you’re generally using it on decentralized apps or making smart contract purchases. But this is only the beginning of how ETH and BTC are used today.
When it comes to spending BTC or ETH, one thing many users forget is that they typically have to convert the cryptocurrencies into fiat (USD, EUR, etc) before making a purchase. This is because most merchants still cannot accept cryptocurrency payments. However, this trend is changing. There are now more merchants than ever before accepting Bitcoin as payment for their goods and services!
For example, Overstock recently announced that they would begin accepting Ethereum in addition to Bitcoin for payments; Microsoft and Amazon both accept BTC payments; even Subway accepts Bitcoin as payment at some of their restaurants! The list goes on.
Website Accepting Cryptocurrency for Shopping
If you have some bitcoin on hand and are wondering where you can spend them, then check out these websites:
Gyft is a digital platform that lets you buy gift cards using Bitcoin. They have numerous retail partners like Walmart, Amazon, Target and Nike. Once bought, users can redeem their gift cards at the retailer or resell them on Gyft for cash.
BitPlaza is the Big Box Store for this generation. They sell everything from electronics to stuff for the kitchen and home all at competitive prices. Their prices are also pretty reasonable when compared to other retailers. BitPlaza is not only easy to use but it offers discounts on certain items when paid for with Bitcoin.
Also Read: Top rated tourist attractions in Las Vegas
Where to Spend Bitcoin while Traveling
Bitcoin can be used to pay for travel. Whether you’re booking a flight or reserving a hotel room, there are multiple ways to use cryptocurrency for your next trip.
The most obvious way to use bitcoin is through a travel booking site that accepts it as payment. You’ll find some of these sites listed in our guide to Traveling with Bitcoin., including CheapAir and Surf Air.
You can also use your cryptocurrency to book accommodation through Expedia’s HomeAway and VRBO services. These sites allow users to pay with PayPal or credit cards, but also offer an option for paying with cryptocurrencies through Coinbase Commerce, which means you can use your digital assets instead of fiat currency.
You can even use bitcoin while traveling by paying for goods and services at local businesses that accept cryptocurrency as payment — like hotels, restaurants and bars — although this doesn’t happen as often as some people might think.
Another popular way people spend their bitcoins while traveling is by buying gift cards for stores in other countries where they’re headed on vacation or business trips. You can buy gift cards from major retailers like Amazon and Target online at sites like Gyft, which accepts BTC payments from anywhere in the world via BitPay or Cryptopay.
Know the Scams
The rise of Bitcoin usage has resulted in the development of a brand-new class of scams intended to prey on the unwary. While you might think that paying with Bitcoin would prevent this sort of thing, sadly, that is not the case. In my experience, I have found that there are three distinct types of scams that occur when using Bitcoin as a payment method while Traveling with Bitcoin.
The first type of scam involves a cashier or business owner who claims to be unable to make a change for your Bitcoin payment or claims to only accept whole Bitcoins. They may also tell you that they only accept Bitcoin payments from their own app (which will likely be a fake version of a real wallet app). You should never pay with a non-standard unit of currency—even if it’s just one cent.
The second type of scam involves a cashier or business owner who claims that your payment was somehow invalid, and asks you to redo the process. The most common example is when someone hands you an envelope full of cash and asks you to put it into an ATM machine. If this happens, be sure to verify the amount by counting it out before putting it into the machine. It is also possible for someone to steal your cash
Be Prepared for the Worst
First, make sure you have some cash on hand so that you have something to fall back on. It’ll be useful if the Internet isn’t working or if the store doesn’t accept bitcoin. Second, download an exchange app that tells you how much your bitcoin is worth in any given currency. Third, use a wallet with multiple layers of security, like Coldcard. This way, even if someone gets access to your wallet, they won’t be able to get everything at once. Fourth and finally: don’t carry all of your money in one place! Split it up between a wallet with access codes and another place that’s more hidden, like an inner pocket.
Also Read: 20 Top Tourist Attractions in the USA
Always Use a VPN when Travelling with Bitcoin
When you are purchasing Bitcoins, you will be prompted to create a wallet address (which is also your public key). This wallet address and the private key combination is all that you need to send or receive Bitcoin. But here’s the problem: if someone gets hold of your wallet address, they can send you Bitcoins. And if someone gets hold of your private key, they can steal all of your Bitcoins. If the person who gains access to your wallet is a hacker, you could be in for a rough day. There’s no way for the average user to tell whether someone has accessed their Bitcoin wallet and compromised it.
That’s why it’s so important to use a VPN when making payments with Bitcoin. A VPN encrypts all of your data as it travels between your computer and the Internet, they won’t be able to see any of your personal information or financial transactions. Even better, most VPN services offer encryption between servers as well as client computers, which means that when you connect through a VPN server in another country, the only information anyone will see is the IP address of that server.
Compare Exchange Rates Before Buying
At the time of writing this, the exchange rate on bitcoin is 1 BTC =38648$USD. Since the value of bitcoin is constantly changing, it’s important to stay up to date with exchange rates. If you wait too long, the item you are buying may end up costing more than what you originally intended.
The best way to keep track of currency exchange rates is through a website like CoinMarketCap. These sites let anyone easily search for and compare different cryptocurrencies.