How Can Bitcoin Bring in Money While You Travel

The idea of traveling and still having a steady income is a dream for many wannabe nomads. It is easy to understand why. Who wouldn’t want to see exciting new places each month without having to take seasonal jobs to make ends meet? So, how can you actually travel and still have a healthy bank balance?

The answer is the newest trend to hit the travel industry — cryptocurrency. Obviously, when we refer to crypto, only one currency comes to mind, and that is Bitcoin. For many, the subject of crypto is enshrouded in mystery, and they can’t even begin to comprehend how a virtual coin such as Bitcoin can support a hassle-free lifestyle.

What we’ll do with this article is to, hopefully, answer the puzzle that is Bitcoin and show how it can benefit you while traveling. We’ll also discuss how you can use it as a source of passive income to fund your excursions all over the globe. 

What Is Bitcoin and How Did It All Start?  

We wanted to start off by first explaining what Bitcoin actually is, and how it all started. Simply put, Bitcoin is a decentralized digital currency that exists outside of the control of governments, with no intermediaries, and it can be used to buy, sell, and exchange directly. Its creator, Satoshi Nakamoto, motivated its existence because it fulfills the need for an electronic payment system that relies on cryptographic proof rather than just the good old system of trust.

This system is transparent because everyone has access to its public ledger, where each and every Bitcoin transaction is visible for everyone to see. This is what makes transactions hard to reverse or indeed fake. This design ensures its value as the proof of the pudding is baked in the system.

Since its public launch back in 2009, Bitcoin’s value has increased dramatically. From trading at slightly under $150, as of August 2021, the value of one Bitcoin is close to $50,000. Seeing as the supply of Bitcoins is limited to 21 million coins, its value is expected to only increase as years go by.

Bitcoin and Travelling 

Using cryptocurrency while you travel is a great way to save money and also ensure your finances are safe and sound. Seeing as cryptocurrency acceptance is gathering momentum within the travel industry, you will soon be able to book flights and hotels with Bitcoin with no resistance from merchants. 

For example, Brisbane Airport recently became the world’s first international airport to accept cryptocurrency as a method of payment. A number of businesses in the domestic and international terminals are allowing travelers to pay with Bitcoin. 

Of course, this rise in acceptance can only be good news for the crypto nomads of today. But simply paying with crypto doesn’t even begin to demonstrate how useful this currency can be while you travel. Here are other perks you can benefit from: 

• You don’t have to deal with currency exchange rates
• ATM and bank fees are a thing of the past
• Reduced chances of theft or loss of money 
• Credit card fraud is no longer a concern 
• Leftover currency is no source of worry anymore 

We saved the good news for last. The partnership between Travala.com (the world’s leading blockchain-based travel booking platform) and Expedia now means that crypto travelers have the possibility of booking well over 700,000 hotels using their Bitcoin.

Bitcoin and Passive Income 

It goes without saying that the greatest perk of being a Bitcoin owner is that it gives you the possibility of earning passive income. Having a continuous source of income that doesn’t require active involvement from you, means that you can go on and enjoy your travels as best as you can. Let’s have a look and see how you can use your crypto to bring in money while you travel:

• Interest-bearing crypto accounts
• BlockFi allows you, as a digital asset holder, to earn an annual yield of 6.2% on your assets if you store them in their BlockFi Interest Account
• Peer-to-peer Bitcoin lending
• If you prefer a more hands-on approach and the chance to earn more interest, you can get involved with crypto lending. One good way to do this is on BTCPop. Using this platform, you can lend digital assets to other marketplace participants and earn interest at the same time

There are, of course, other ways to generate passive income using your Bitcoin. The good people at BlockSocial go in-depth on each of them. We’ve decided to focus just on these two as we believe they represent the easiest way to sit back and enjoy your traveling hassle-free. 

Ready to Enjoy Your Hassle-Free Traveling?

A nomad lifestyle that gives you the chance to see the world is something most of us dream of, but few manage to actually do it. The main constraint is our source of income. The typical 9 to 5 job is not necessarily that flexible when it comes to traveling all over the world.

Luckily, there are ways for you to expand your finances and have them work for you, and save you money while you travel. Cryptocurrency provides a strong foundation to make the change to a nomad lifestyle. Why not enroll in one of our programs today and let us help you make the first steps towards crypto-based mobility?