Moving Cash Across Borders with Bitcoin
Let’s face it, Bitcoin is a cryptocurrency that has opened a wealth of opportunities for people, investors can of course take their chances buying into it in the hope its value increases, consumers can use it to pay for goods and services quickly and cost effectively too, and there is of course the criminal element who love the anonymous way Bitcoin works.
One aspect of Bitcoin that has worried many worldwide government agencies however is that it can be a cryptocurrency that people can use to launder money and can also use it to move money across borders and away from prying eyes.
However, that is something that those government agencies are going to have to get used to, for as long as a Bitcoin user has the log in and access details to their digital wallet that gives them access to their Bitcoin holdings on the blockchain, if they can then get access to the internet they are always going to be able to access their funds, whether ill-gotten or otherwise.
It is not of course just the small criminal element out there who do want to use Bitcoin as a way of moving their cash across borders, for many people are now choosing to do the same when it comes to their holiday funds.
If you are looking for a way to move money from one country to another but without the need to carry cash around with you, and you would prefer not to use your debit or credit cards whilst on holiday, then today I am going to be introducing to you two ways you can use Bitcoin to do just that!
Bitcoin Automatic Teller Machines
One of the most innovative ways that you can turn Bitcoin into local currency in many different countries of the world is by simply looking up where there is a Bitcoin ATM.
Over the last year or two the number of Bitcoin ATM’s has massively increased in number, and that proves there is a market place for those machines, and if you do have access to your digital wallet when overseas on holiday or business you can then swap any units of Bitcoin for cold hard cash and on the spot by using such a machine.
Just be aware though that there will be fees and charges associated with using a Bitcoin ATM, but when you do want cash there are always going to be available to you 24 hours a day.
You are not only going to be able to exchange your Bitcoin holdings and turn them into local currency when using a Bitcoin ATM, for you are also going to be able to buy Bitcoin on the spot too.
Those Bitcoin ATM’s have been designed in such a way that you can choose to buy any quantity and any units of Bitcoin, and you will then be quoted a price and by feeding in that amount in banknotes you will then be sent out the Bitcoins you have just purchased, they will be sent directly into your digital wallet, so you will of course need to have one to perform such a transaction!
Person to Person Transfers
Another way that you are going to be able to turn your Bitcoin holdings into cold hard cash and the currency in use wherever you happen to be is by making a person to person transfer.
What you are going to find as you look around the web in search of ways of turning Bitcoin into a local currency are sites and platforms that can and will be able to match you up with someone who wishes to buy Bitcoin nearby where you are staying.
You then arrange to meet that person and they will pay you cash at the pre-arranged exchange rate for your Bitcoin and you simply transfer it over to them in person and on the spot.
Obviously, you will need to take all necessary precautions when using such a person to person transfer service, however If you do ever find yourself in need of an urgent cash injection it is a service worth considering.
One of the benefits of doing such a transfer is that you will then cut out all of the fees and transaction charges that you will be forced to pay when using for example a digital currency exchange and you should always be able to find a buyer for your Bitcoin no matter in which town, city or country you are too!