Travelling without currency-exchange worries

[EvaGC]

[Taken from Globcoin Medium]

"My cousin in Perth has just got engaged to another Australian, and they’re planning their big day. Their dream honeymoon is a trip around Europe, which is a repeat of their first holiday together. But however much they loved that holiday, and each other, there’s one lingering doubt — and it’s not the jetlag.

Perth to London is long, but it’s the easy bit. The hard part starts, for them, once they start crossing country frontiers, and the currency changes.

«We like to travel light, to stay in small places, to explore beyond the usual big cities, and venture into countries our friends have never been around Europe, also touching into Africa and Asia. But every time we cross a boundary, and have our passports stamped, we start worrying about the currency. We look at restaurant menus, not for the food, but for the prices — can we afford this? Is this good value? At hotels we ask if they take Travellers cheques, or how much commission is charged to change money, or to pay on our domestic bank cards. We wistfully look at some countries and have been told ‘oh no, that’s really expensive’ by friends at home, so we take the train straight through, without stopping. It’s hard to plan a big trip around currency differences. It’s not the most romantic consideration»

Let’s not let currency issues get in our way. We need to make the process of holding, and exchanging currency easier, with a “safe store” of cryptocurrency in our wallet too, so we can hold our money in that cryptocurrency, until we really need to spend it. Like for that big trip"

[1715296303]

1715296303

[Experio]

[Taken from Globcoin Medium]

"My cousin in Perth has just got engaged to another Australian, and they’re planning their big day. Their dream honeymoon is a trip around Europe, which is a repeat of their first holiday together. But however much they loved that holiday, and each other, there’s one lingering doubt — and it’s not the jetlag.

Perth to London is long, but it’s the easy bit. The hard part starts, for them, once they start crossing country frontiers, and the currency changes.

«We like to travel light, to stay in small places, to explore beyond the usual big cities, and venture into countries our friends have never been around Europe, also touching into Africa and Asia. But every time we cross a boundary, and have our passports stamped, we start worrying about the currency. We look at restaurant menus, not for the food, but for the prices — can we afford this? Is this good value? At hotels we ask if they take Travellers cheques, or how much commission is charged to change money, or to pay on our domestic bank cards. We wistfully look at some countries and have been told ‘oh no, that’s really expensive’ by friends at home, so we take the train straight through, without stopping. It’s hard to plan a big trip around currency differences. It’s not the most romantic consideration»

Let’s not let currency issues get in our way. We need to make the process of holding, and exchanging currency easier, with a “safe store” of cryptocurrency in our wallet too, so we can hold our money in that cryptocurrency, until we really need to spend it. Like for that big trip"

Thanks EvaGC for raising this concern, I am sure this is a struggle that many travelers are having and I totally agree that the process of holding and exchanging currencies need to be improved in order to increase adoption of Bitcoin and other cryptocurrencies.

We are currently working on a solution that aims to approach this problem and soon we will be announcing it.

[avikz]

We are currently working on a solution that aims to approach this problem and soon we will be announcing it.

And how do you propose to solve this issue? To start a currency exchange business, a company needs at least 7 different licenses from various authorities including Central Bank (in my country). The number of licenses will vary based on the country but Central Bank is a mandatory one everywhere. Are you planning to go through that route? Just curious!

[Darker45]

As much as I don't want to sound anti-crypto, I cannot think of any other easy way to solve this issue than to use what is currently and conveniently available for all of us right now. If one is travelling across several countries and continents in consecutive weeks, it is indeed a hassle to shift from one currency to another. But this kind of hassle is more of a thing of the past with all of our global payment networks. We already have Visa, Mastercard, American Express, UnionPay, and so on.

For now, spending crypto directly from our wallets cannot be highly relied upon because there are only limited stores, hotels, restaurants, travel outlets, and so on that accept crypto payments. Fortunately, though, we already have a handful of crypto cards available. This would certainly make crypto spending a lot easier.

[Wexnident]

And there's really nothing to fix that. Not unless the Foreign agencies of each country adopt some form of fix for that problem. Even crypto wouldn't be an answer to that, why? Because of the various requirements from exchanges when cashing out money. There's also the fact that some exchanges work on certain countries or is accepted, but is not on others since they have their own exchange that is run on the entire country.

There are some stores that accept currency directly so thats one solution, but honestly, the world just needs to coordinate with one another in building improvements for the qol changes of the people in terms of travelling, and the problem would probably be solved easily. Sadly, countries are fighting instead of growing together.

[Strongkored]

Finding a store or service that uses cryptocurrency as a payment methods will also be a problem in different countries.
Adoption of crypto is not evenly distributed, it might be easy to get in Europe, but it could be the opposite in Asia or Africa.
What @Draker45 said is enough to reduce difficulties in procuring foreign currencies when traveling, as far as I know USD is almost accepted in all merchants in tourist places around the world, by providing it in our wallets so there will be no more problems regarding foreign currencies when traveling.

[xen1oph]

It is very convenient to travel when you do not need to change your money to local currency. I'm currently doing this using a regular debit card. Usually this will never cause any problems. It would be great if ordinary stores would use bitcoin or some other cryptocurrency so that you could not use fiat money for this. I think that in the next 5 years, large stores will begin to use cryptocurrency. And then it will become even easier to travel.

[dunfida]

Finding a store or service that uses cryptocurrency as a payment methods will also be a problem in different countries.
Adoption of crypto is not evenly distributed, it might be easy to get in Europe, but it could be the opposite in Asia or Africa.
What @Draker45 said is enough to reduce difficulties in procuring foreign currencies when traveling, as far as I know USD is almost accepted in all merchants in tourist places around the world, by providing it in our wallets so there will be no more problems regarding foreign currencies when traveling.

Positivity about adoption isnt bad but we should be practical and shouldnt push on things which isnt globally accepted.
I agree on what you have said that reputation of BTC/Crypto on each country would really vary and if you do really like to
use crypto on your travels completely then it would really be hard.For now its better to stick with USD and solve those worries
and just simply hold up your coin for long term prospect.

[bobitza]

[Taken from Globcoin Medium]

"My cousin in Perth has just got engaged to another Australian, and they’re planning their big day. Their dream honeymoon is a trip around Europe, which is a repeat of their first holiday together. But however much they loved that holiday, and each other, there’s one lingering doubt — and it’s not the jetlag.

Perth to London is long, but it’s the easy bit. The hard part starts, for them, once they start crossing country frontiers, and the currency changes.

«We like to travel light, to stay in small places, to explore beyond the usual big cities, and venture into countries our friends have never been around Europe, also touching into Africa and Asia. But every time we cross a boundary, and have our passports stamped, we start worrying about the currency. We look at restaurant menus, not for the food, but for the prices — can we afford this? Is this good value? At hotels we ask if they take Travellers cheques, or how much commission is charged to change money, or to pay on our domestic bank cards. We wistfully look at some countries and have been told ‘oh no, that’s really expensive’ by friends at home, so we take the train straight through, without stopping. It’s hard to plan a big trip around currency differences. It’s not the most romantic consideration»

Let’s not let currency issues get in our way. We need to make the process of holding, and exchanging currency easier, with a “safe store” of cryptocurrency in our wallet too, so we can hold our money in that cryptocurrency, until we really need to spend it. Like for that big trip"

Your idea is quite good! Sometimes our traveling has some problems with money. Because each country has its own currency. You think that we should keep money in electronic wallets when traveling freely spending. Good idea. But you should remember that not all countries accept payments in cryptocurrency. For example, when you travel in Vietnam, you have to use cash or swipe card to pay but they do not pay with electronic money.

[The Cryptovator]

Currency exchange would a problem during traveling if you are using physical money. Rather than you may use master/Visa card for that. You will be able to withdraw or able to pay bill accordingly. And what about if you can refill your master card with crypto-currency? Isn't interesting. I think there some wallet allow you to use Master/Visa card and you may refill them with crypto-currency. Like Bitpay allow their user to order Visa card (there is restrictions for jurisdiction). I believe there is more brand who will issue master/Visa card for you by using crypto. It would be more easier to travel with crypto-currency. Otherwise there is no more easy way IMO.

[mu_enrico]

I think the purpose of this thread is only to shill GlobCoin. Therefore, it would be best not to take OP too seriously. As you know, fiat currency is a symbol of a country/government. They won't let their fiat replaced with other currencies, except, of course, when they are in crisis or bankrupt.

Currently, the feasible solution for travelers is by using MasterCard/Visa or prepare the respective cash in advance. It will be nice if we can use Bitcoin anywhere, but it may never happen, or maybe it will... who knows?

[Gozie51]

Maybe I will take another view on this, maybe not considered a serious view but it can be serious at the same time 
Hence, I think for cryptocurrency/hodling and wallet passwords, is a challenge. Sometimes you can forget a password to a particular wallet (if you operate different wallets) while on transit or about to take up an unexpected bill that you didn't have your username or pass code off hand (or except you have them stored in an email that you have a smart phone to access it anywhere but it takes some process or time, email verification and what have you).

[hugeblack]

I don’t know what countries you have problems with in changing the currency, but I travel a lot and move between the countries of the first and third world countries, so I can tell you that I don’t have problems in converting currency, especially in third world countries. “The US dollar is an approved payment method in many countries and they are They are looking for someone who owns that coin. "

You can transfer small amounts at the airport and only be satisfied with the amounts in the dollar.
The problem may appear in carrying large sums, and here the role of digital technology may facilitate things, whether it is digital money or cryptocurrencies.

[milewilda]

I think the purpose of this thread is only to shill GlobCoin. Therefore, it would be best not to take OP too seriously. As you know, fiat currency is a symbol of a country/government. They won't let their fiat replaced with other currencies, except, of course, when they are in crisis or bankrupt.

Currently, the feasible solution for travelers is by using MasterCard/Visa or prepare the respective cash in advance. It will be nice if we can use Bitcoin anywhere, but it may never happen, or maybe it will... who knows?

Same thoughts and views about just shilling out Globcoin into this one ( https://medium.com/@globcoin_io).
Back to topic, USD can be converted everywhere either directly on bank or a moneychanger.We do know that not all places do accept
crypto so its understandable that this kind of scenario or situation isnt possible from time to time.

[FanatMonet]

I always take US dollars with me on all trips, because of the currencies that are accepted around the world, only the dollar has the greatest distribution. Euros, pounds and yuan are also quite widespread, but the dollar has no analogue yet.

[Google+]

I always take US dollars with me on all trips, because of the currencies that are accepted around the world, only the dollar has the greatest distribution. Euros, pounds and yuan are also quite widespread, but the dollar has no analogue yet.

well indeed the USD can be accepted in all countries but there still have to find an exchange that can be used to exchange your assets for local money because usually when you want to buy something will require local money. unless you have prepared everything so before going abroad you can prepare the funds needed first and use what applications to make payments so that you can travel without using paper money and only need the digital money you have.

[magneto]

At this point, as long as you've got a hardware wallet that you can lug around and some sort of p2p trading platform account (LBC or paxful is fine), you can literally travel the world without carrying any cash and worrying about exchanging your funds at every stop.

In fact, you'll likely save a whole bunch in terms of exchange rate spreads, because of how competitive BTC to fiat rates generally are compared to fiat to fiat.

At the end of the day though, what would be even better would be direct acceptance of cryptos, but unfortunately it is still too early for that.

[Magkirap]

I always take US dollars with me on all trips, because of the currencies that are accepted around the world, only the dollar has the greatest distribution. Euros, pounds and yuan are also quite widespread, but the dollar has no analogue yet.

well indeed the USD can be accepted in all countries but there still have to find an exchange that can be used to exchange your assets for local money because usually when you want to buy something will require local money. unless you have prepared everything so before going abroad you can prepare the funds needed first and use what applications to make payments so that you can travel without using paper money and only need the digital money you have.

Yes that is the one good alternative to their problem, having everything prepared before the trips happens so that you can fully enjoy whatever the occasion is. Yes the first comment says about bringing dollars but still some countries does not accept foreign currencies specially the market ones type of store so it will be still a problem later on. I really hope we can have our own cryptocurrency be accepted to lots of stores so that we can't have this kind of problem.

[fiulpro]

Yes you are right but ..
Okay I do think what he can do is already exchange dollars   keep dollars with him as a safe currency because you know when you go to any new country and you visit the exchange shop you would be able to see that they usually have around 4-5 currencies listed there and the rates are also good , and almost all the times dollar is there and I do think the dollar would help him ofc .
Like where I live , the dollars can be used almost everywhere , to pay the rent , the bills but yeah , if you are going shopping you gotta exchange it first.

[mamahdedeh]

I always take US dollars with me on all trips, because of the currencies that are accepted around the world, only the dollar has the greatest distribution. Euros, pounds and yuan are also quite widespread, but the dollar has no analogue yet.

well indeed the USD can be accepted in all countries but there still have to find an exchange that can be used to exchange your assets for local money because usually when you want to buy something will require local money. unless you have prepared everything so before going abroad you can prepare the funds needed first and use what applications to make payments so that you can travel without using paper money and only need the digital money you have.

Yes that is the one good alternative to their problem, having everything prepared before the trips happens so that you can fully enjoy whatever the occasion is. Yes the first comment says about bringing dollars but still some countries does not accept foreign currencies specially the market ones type of store so it will be still a problem later on. I really hope we can have our own cryptocurrency be accepted to lots of stores so that we can't have this kind of problem.

indeed for now the reality is we have to exchange our money in the fiat currency of the destination country, so that we are comfortable using it. but my hope is that the crypto currency will be regulated soon, so that it can become a global currency and make it easier for us to travel between countries