Digital nomad crypto? Digital nomad? Who are those? Digital nomads make full use of the technologies available to work remotely and have the flexibility to travel and live in different locations. Being a digital nomad is a personal choice, a lifestyle, and the experiences vary significantly from person to person. While others might want it as a long-term lifestyle, others will only choose it temporarily. However, they all work remotely and typically rely on laptops, smartphones, and the Internet. That being said, the amount of travel a digital nomad does can vary, but while some of them mainly stay and travel within the confines of their country, most choose to cross borders. It is a flexible lifestyle; they can decide where and when to stay or leave. But hey! They would need to expense. That’s why digital nomad crypto is a thing.
Cryptocurrencies are digital currencies that operate independently from central banks. For this reason, cryptocurrencies would highly appeal to digital nomads since they move around a lot, and sometimes the hassle of currency conversion can be maddening. Not only can they choose to earn in crypto instead of the currency of their locale, which might be another stress for them when they cross into another country, but getting paid in cryptocurrency allows them the financial independence that complements their nature. Would digital nomad crypto work?
WHY DIGITAL NOMAD CRYPTO WOULD WORK
EARNING INCOME
Cryptocurrencies provide a peer-to-peer payment system without the need for traditional intermediaries, such as banks. As such, digital nomads can receive payments for their work, services, or products in crypto. In the case of countries with limitations in the banking system, talk as restricted access or inaccessibility; digital nomad crypto will serve as an alternative to sending and receiving money.
PEER-TO-PEER EXCHANGES
When you earn your income, you need to spend. It is the price of your labor. Digital nomads can use cryptocurrency exchanges instead of the local currency to make payments. Also, they can use cryptocurrency to exchange for fiat currency if needed. This way, they don’t need to go through traditional banking channels. Imagine going to the bank for a procedure that might take hours or days when are will be staying for a week or two.
CRYPTO DEBIT CARDS
These days, a few companies like to use debit cards as holdings for your cryptocurrencies, allowing you to convert your crypto into fiat at any traditional POS or merchants accepting conventional debit cards. This further improves the financial independence of digital nomads as they do not need to rely on exchanges and transfers to make payments or convert their crypto.
ACCESSIBILITY
Their work and lifestyle give them independence. Digital nomads will always seek comfort and freedom wherever and whenever necessary, and digital nomad crypto will afford them this. Cryptocurrencies are kept in mobile wallets, making them easily accessible anywhere. With cryptocurrency’s popularity, many options exist, and digital nomads can easily set up an account.
LOWER TRANSACTION FEES
As it is decentralized and without control from a third-party, cryptocurrency exchanges have lower transaction fees than traditional banks, especially for international transfers. Oof! If the money isn’t substantial, you might hate yourself for making international transfers sometimes. Digital nomads who receive payments from around the world will benefit significantly from using digital nomad crypto.
While engaging in cryptocurrencies as a digital nomad, you must consider the country’s legal and regulatory rules and laws. The law binding crypto is different globally; you should be aware not to offend unintentionally. Digital nomads can use crypto debit cards to ease their financial burden in countries with limited crypto trade. Now, which of the digital nomad crypto platform should you opt for?
PLASBIT – THE MULTI-PURPOSE CRYPTOCURRENCY PLATFORM
PlasBit is a good choice. It doesn’t matter if you are a beginner or you’ve been into crypto for a while; there is something for everyone. Their website has enough introductory content for beginners to get comfortable. PlasBit is multi-coin supported for users who own more than one type of coin. You can check the PlasBit website to know the supported coins you own. This way, you don’t need to hold multiple wallets but one wallet to save and manage your coins, a good option, especially for digital nomads. Because they only need one wallet now, they don’t have to be picky about which coin the client uses as payment.
To ease accessibility, PlasBit also has a debit card and transfer feature. The debit card, which can convert cryptocurrency in your wallet to Fiat currency anywhere you are, is a must-have for people who prefer flexibility in the financial aspect of their day-to-day activities. Check out their PlasBit cards section to see their variety of card options. The PlasBit transfers can access over 130 countries and are still counting. Once a transaction has been confirmed, you can continue to track the progress until it is completed—transparency and efficiency are at their peak.
Their security is one of the best in the cryptocurrency world. They utilize cold storage, where users’ funds are stored offline, so the chances of your funds being stolen by cyber-attacks are significantly lower. The wallet is also secured by an evolving security system, with the tech team analyzing multiple cases of cyber attacks and working to create extra preventive measures.
CONCLUSION
Digital nomad crypto is excellent and all, but it is not all sunshine and rainbows. It is impertinent to know that cryptocurrencies also come with risks and challenges. The crypto market is widely known to be highly volatile, so digital nomads must be careful and attentive. They conduct thorough research occasionally, exercising caution regarding cryptocurrency exchanges and having reliable internet connectivity to get up-to-date pricing and a backup system before relying entirely on crypto for their financial needs. On this note, PlasBit also has a price checker to get the latest coin exchange prices. Having gone through why digital nomad crypto would work, here is a question for the readers; do you think digital nomads should invest in digital nomad crypto?
