Is Bitcoin Viable for Travel?

At least one man thinks so after spending 18 months traveling the world using Bitcoin. Despite words of discouragement, programmer Felix Weis believed Bitcoin had the potential to be the first truly “global currency.” He himself used it regularly in Berlin, at least once a week, so on Jan. 12, 2015, he packed his bags and began his journey around the world with just three rules:

1. No banks, Western Union or currency exchanges
2. Bitcoin must be the primary currency.
3. Local cash for places where Bitcoin isn’t accepted. Bitcoins must be converted to local currency.

Explaining Bitcoin is complicated, but what you need to know is it’s a computerized and decentralized currency. That means it’s not backed by any state and lives in a digital “wallet,” making it available everywhere and useable anywhere in the world as long as the cashier accepts it. Weis found businesses through Coinmap, booking luxury hotels and couchsurfing hosts alike, in addition to using pro-Bitcoin companies like Expedia and CheapAir.

Weis faced problems in less-connected countries like Cuba, but was able to find people for a Bitcoin exchange through localbitcoins.com. Most of the people he contacted were already on Bitcoin, but he found even those who haven’t heard of it became interested after he explained what it was, citing its fuel as declining trust in banks. Volatile markets like Venezuela and Argentina are looking to the digital currency as their own governments scramble to stabilize their economies.