Topic: Bitcoin as a way of avoiding to change money when travelling abroad - page 4. (Read 1841 times)

this is really true the price and the importance of the bitcoin is increasing and the popularity of the bitcoin has become worldwide famous so a lot of people are accepting bitcoin for several ways and they are considering bitcoin as real currency it is increasing the importance of the bitcoin more and more so I think it will be more good to put bitcoin as the traveling payment and if they will pay the salary of the pilot with bitcoin then it will be super good.

Yes, the only doubt in using it is the transaction fee, yet it is mostly convenient especially if were into travel and already spend all the country cash ,we can use btc if that cointry liie Japan implemented it.

And now you can change bitcoins from any country in the world for local currency, but it is very inconvenient. Perhaps in the future, miners will realize that it is better to reduce the cost per transaction for stores. If it is to develop trade with bitcoin, the money that goes into the pocket of the exchangers will go to the miners and everyone will be happy.

Well, this to happen bitcoin have to be accepted worldwide, or atleast in the place you want to travel. And that might take several years still. But yes, it would be a good measure, to not to have to exchange everytime we travel.  And if that happens, dollar will have a competition, and corporates wouldn't  want that.

This sounds really good and promising, but we are years away from times when Bitcoin will be accepted by every merchant. Today you might find some places in big cities that accept Bitcoin, but most of the time you will have to exchange BTC for local currency. And when Bitcoin will reach mass adoption, governments will have all sorts of regulations regarding it - you'll have to tell how much Bitcoins you own when you cross the border, pay taxes and fees. It might be cheaper than current fiat system, but not absolutely free.

I think it is possible, but you won't save much money, I think. It really depends on the exchange rates, what country you will be traveling to, and where you are from.

If you are traveling from the US, UK, Europe, China, or Japan, then you actually don't need to find ways to save on FX rates. Since your currency is acceptable world wide. If however, you are from countries whose currency is not acceptable world wide or FX buys it really low, then your option is to convert your currency to USD then convert to the currency of the place you are traveling to, and that costs a lot. That maybe the time where bitcoins could help.

This is a good idea, but all the same, it will not be possible to settle accounts in every country with the help of bitcoins. Also it is necessary to take into account that in some countries it is generally prohibited.

I think this will be great, but as you have said it depends on the country. I think I will be fine because I am using a wallet from an exchanger, this exchanger has a conection with other countries banks so I can say that it will be great. I don't really tried owning a debit card with bitcoins but I think if I will be going in other countries, it is worth trying.

Depends the country and the rate of the company, you can also use a debit card loaded with btc.
You have in some cases good level of anonymity, fair fees, good valuation for each coins.
But personal suggestion, it's better save then spend btc

All statements you've said make sense but yes that is if bitcoin become as popular and accepted like mastercard or visa-- i know they're both completely different but i'm talking

about the popularity and acceptance because paypal is mostly good for online usage but both of them are popular on both sides. now back to the question i haven't used it as i

have never travelled outside my country lol but it'll be difficult to use it directly now because of the limited merchants

Well never really tried to travel abroad but this is really a good idea,
We could really use bitcoin to buy their currency without fees with their local FIAT exchanger.

If you travel abroad from time to time, you are probably used to change money: to do so, you have to find a change office and accept the rates they offer. Many of them also ask to pay a fixed-amount fee, they want more money than what they get from the fx rate.... If it is a touristic place, there may be a little competition from different change offices, at least, if they don't agree prices. But in general, as an individual, you have very little power, you can't hardly negotitate, only accept what they propose... On the other side, if you choose to withdraw money from an ATM with your credit card, you will be paying the FX rate your bank decides to apply to you, with potentially other fees...

However, if Bitcoin become an accepted currency in shops worlwide, we could avoid to change money to the local currency. We will still need to change from OUR currency to Bitcoin, but I feel that we have a much larger negotiting power on that:
- you can do it anytime from your home
- you may automatically buy Bitcoin with a given limit at interesting rates, intead of accepting the prices proposed by a few change offices in the area
- you may have already created a Bitcoin wallet and be used to it: you will automatically understand if a price in a shop is cheap or expensive because you are used to see prices in bitcoins, instead of having to translate into your currency...
- you may keep the remaining money in Bitcoins and still be able to use it when you are back home, etc...

Bitcoin would work as a parallel universal currency, a situation that already exists with USD in many countries, where it is used in parallel with the local currency.

But of course, prior to that, it will need to become widely accepted and have a more stable price

What do you think? Have you ever used bitcoin when travelling abroad?