There is a bunch of travel enthusiasts called Crypto Nomads and they are dedicated to using cryptocurrency for payments and making transfers. They want to show that crypto has a real world use and isn’t just an asset to invest in, and they are travelling the world to prove it.
Yes, crypto nomads are on the rise according to Laura Shin, a former Forbes writer who now has her own podcasts Unchained and Unconfirmed, who says the “greater accessibility in the crypto financial system helps travellers.”
Another voice speaking up for the advantages of using crypto as you traverse the world is Michael Dalesandro, CEO and founder of RockItCoin. He has been into crypto since 2015 and says he has seen a 60% year-on-year increase in bitcoin ATM installations.
Digital nomad, Gili Gershonok, a true millennial, says “There are so many benefits of holding crypto over bank accounts and traditional financing,” and she believes that people who are familiar with travelling and living internationally are more at ease with setting up new bank accounts and might be more attuned to the advantages of having borderless money. She also says that while she uses fiat to pay for everyday items, she also tries to pay with crypto whenever she can, citing the example of paying for a coffee in Prague with LTC.
Some, like Gershonok, manage to combine trading with travelling and according to these experts they suggest you buy local SIM cards and pay for data so that you can stay updated on the markets. One crypto nomad, Blake Sandall, likes to get his updates as SMS messages and always buys a SIM card on arrival in a new place so that he doesn’t have to rely on Internet cafes. He financed a trip to the Everest Base Camp with profits het made on ETH.
Gershonok does warn that travelling with crypto is not for the faint hearted, but it does make being a digital nomad easier and “sets your mind to the idea of being decentralised.”