Toward the end of 2017, the most popular cryptocurrency in the world, bitcoin, broke new records by shooting up in both value and usage. At one point, a single bitcoin was worth a whopping $20,000, leading many to question whether the digital currency should, in fact, be regarded as a valid, legal tender worldwide.
Thousands of individuals as well as quite a few businesses in a number of trades, including the travel industry, are using already bitcoin. Of course, this led us to the obvious question: is it possible to travel the world using nothing but bitcoin? After some research, we found that the answer was indeed yes, but there are quite a few things you need to do to make it possible.
You Must Have A Smart, Secure Wallet
Before you even think of leaving your house to start traveling, it is crucial to invest in a secure wallet to store your precious bitcoins in. We suggest you store the majority of your bitcoins in a portable, hardware wallet, which usually comes in the form of USB stick. One of the highest rated bitcoin hardware wallets, the TREZOR, resembles a simple dongle and yet can store plenty of bitcoins. To access the bitcoins stored on your bitcoin you simply need to remember a 12-word phrase, and voila: instant access to your cryptocurrency.
That said, you may want to rethink storing every single bitcoin to your name on the TREZOR. Instead, think of your TREZOR as a bank account – somewhere the bulk of your bitcoins are safe. This means that you’ll need somewhere else for the equivalent of cash, and most people recommend using a smartphone wallet for this digital loose change. Highly trusted smartphone wallets include Coinbase, Blockchain and Copay, all of which are accessible and yet have high levels of security.
Research Which Businesses Accept Bitcoin
While more companies than ever are beginning to accept bitcoin as a valid payment method, not every business has jumped on the bandwagon yet. This means that if you’re planning to travel the world using nothing but bitcoin, you’re going to need to know every viable option you have.
Fortunately for travellers, one of the initial companies to accept bitcoin was CheapAir, which encouraged other travel agencies to adopt the cryptocurrency. Now, Expedia, BTCTrip and Destinia are just a couple of the flight providers you can choose from, which are sure to get you almost anywhere in the world you want. Hotels are a different matter, however, and require more specific research. The best option is to research the accommodation in the location you want to visit, or you can also use CryptoCompare to exchange bitcoins for hotel rooms.
Connect With The Community
Whether you’re using bitcoin for the first time or you’re an experienced veteran, it is always a good idea to connect with the bitcoin community. The best way to do this is by joining LocalBitcoins, as chances are there will be a group of people in your area willing to talk about and exchange bitcoins.
Alternatively, an even more fun option is to join one of the flourishing communities that are currently evolving in the iGaming area of the internet. After all, bitcoin was supposedly created for online gamers, so it makes sense that there are hundreds of enthusiasts gathering together at places like Vegas Casino, a BTC casino where fans can play and talk together in their favourite cryptocurrency.
Once you’ve followed these three key pieces of advice, you should be ready to head out into the big wide world of bitcoin travel. If you have any other key pieces of advice that we have failed to mention, please let us know in the comments below!