Is it possible to travel the world using only stablecoins?

Key takeaways

• With growing adoption, traveling the world using only stablecoins is feasible, covering flights, hotels and dining.
• To travel around the world with stablecoins, you must acquire stablecoins via exchanges and transfer them to your crypto wallet.
• Stablecoins offer protection against currency fluctuations, low transaction fees and nearly instant transfers for international payments.
• You need to figure out flights, hotels, restaurants and shopping destinations that accept crypto and plan your travel accordingly.

If global travel has been a dream of yours and you only have stablecoins in your wallet, you might wonder whether it is possible to fulfill your dream without selling the stablecoins for cash. Thanks to the growing adoption of crypto worldwide, circumnavigating the globe while solely relying on stablecoins is feasible.

From booking flights and hotels to dining out, stablecoins offer intriguing possibilities for a worldwide trip, though you have to consider varying regulations, merchant acceptance and transaction fees.

This stablecoin travel guide explores whether stablecoins are a viable option for navigating the globe, highlighting their potential benefits and the hurdles you may face when traveling.

What are stablecoins?

Stablecoins are cryptocurrencies designed to maintain a stable value. But how do they remain stable? 

They are pegged to an underlying asset, like the United States dollar or gold, for stability. Unlike other cryptocurrencies that can be highly volatile, stablecoins offer a secure way to store and transfer value, which makes them particularly appealing for international travel, where currency fluctuations can sometimes create uncertainty. 

Examples of stablecoins include Tether’s USDt (USDT) and USD Coin (USDC), which are commonly used for transactions and essential to the digital economy.

With many businesses across the globe now accepting cryptocurrencies for payments, it makes it easier for travelers to use their digital assets without the need for traditional banking systems or foreign exchange services. 

But is it realistic to travel the world relying solely on stablecoins? 

Let’s find out.

Preparing for your digital journey: How to get started with stablecoins

Before setting sail for your destination, acquiring the stablecoins is the first step. Prepare a travel plan, figure out a budget, and get the appropriate amount of stablecoins.

Here is how you can acquire the stablecoins:

• Create an account on a crypto exchange: Create an account on platforms like Binance, Coinbase or Kraken to buy stablecoins like USDC or USDT. You will need to complete the Know Your Customer (KYC) process to complete the sign-up process.
• Fund your account: Deposit fiat currency in your exchange account through bank transfer, card payment or other supported methods.
• Purchase stablecoins: Buy stablecoins like USDT or USDC with a debit or credit card connected to your bank account. To complete the buying process, select the stablecoin, pay for the chosen amount, and confirm the transaction.
• Set up a crypto wallet: To store your stablecoins securely, get a wallet like MetaMask or Trust Wallet. For convenience, software wallets, including exchange wallets, are available. You can also opt for hardware wallets if you don’t want to hodl your crypto.
• Transfer stablecoins: Transfer the stablecoins you purchased from the exchange to your wallet by copying the address and initiating a transfer.

With stablecoins in your wallet, you are now all set to go hopping around the globe!

Setting the scene: A traveler’s journey from New York to Singapore with stablecoins

Let’s take an example to help you understand if you can travel the world using only stablecoins.

Imagine you are a crypto enthusiast and a stablecoin advocate living in New York City and have decided to travel the world using only stablecoins. 

Starting in North America, you travel from New York to Toronto, then move through Europe with stops in Edinburgh and Amsterdam, before finally arriving in Asia, in Singapore. This adventure will help you understand where and how you can use stablecoins for seamless, borderless payments across continents without traditional currency exchanges.

How to book flights and accommodation using stablecoins

Suppose you begin your journey by booking flights for the entire trip using stablecoins. As a crypto enthusiast, you choose a travel service provider called Travala.com, which accepts stablecoins to book flights, hotels and other travel services.  

You don’t need to convert your digital assets to traditional currencies to make payments, as cryptocurrencies, including stablecoins, are supported on Travala.com as a payment method (see image below).

Travala.com supports over 60 cryptocurrencies, including Bitcoin (BTC), XRP (XRP) and Solana (SOL), as you can see below.

The image below shows how you can pay for trips to Toronto, Edinburgh, Amsterdam and Singapore. For example, you may transfer 77.92 USDT via the TRC-20 network to a provided wallet address or simply scan a QR code within 30 minutes. Once verified, Travala.com confirms your reservation.

Similar to booking flights, you can also book accommodations on Travala.com. The process is straightforward: Select your destinations, stay durations and travel dates.

Where to spend stablecoins in New York

New York City offers a variety of options for travelers to spend their stablecoins, ranging from everyday purchases to luxury experiences. High-end fashion houses like Gucci are now embracing cryptocurrencies, enabling customers to purchase designer apparel and accessories using stablecoins. To pay at the Gucci store, you can use a QR code to pay with your crypto wallet after receiving an email with the code. 

There are many crypto-friendly restaurants, cafes and bars in NYC where you might just walk in and grab your choice of food and drink. These include the likes of Starbucks, Subway and Burger King, where you can pay with gift cards purchased using stablecoins.

You can also use stablecoins for services like ride-sharing, with some local Uber drivers and Lyft accepting crypto payments through third-party platforms like BitPay. 

Did you know? Due to price volatility and regulatory requirements, refunds (if applicable) will be processed as Travel Credits and credited to your Travala.com account.

Second stop: Toronto — Cross-border travel begins

Toronto is a vibrant crypto hub, which comes as no surprise, given the city’s strong focus on finance and innovation. It regularly hosts blockchain conferences, including the annual Blockchain Futurist Conference.

Several establishments in the city and its neighboring regions readily accept cryptocurrency as a payment method. Here’s how you can explore Toronto using stablecoins:

• Snakes & Lattes (board game cafe): If you’re in the mood for some fun, head to Snakes & Lattes, where you can grab a game and pay with stablecoins.
• Urban Living Suites (accommodations): Looking for a place to stay? Urban Living Suites offers comfortable stays for crypto travelers. You can pay for your room using stablecoins without worrying about traditional currency exchanges.
• Gogo Sweaters (apparel): If you’re in need of some cozy Canadian fashion, check out Gogo Sweaters. The company makes hand-knit sweaters, and you can pay for them with stablecoins. 
• Figures (restaurant): Ready for a meal? Figures, a local restaurant with a diverse menu, is another spot that accepts stablecoins. Whether you’re after something casual or a bit more upscale, you can settle the bill in crypto.
• Instacoin ATMs (currency exchange): If you need to switch your stablecoins for regular currency, there are Instacoin ATMs scattered around the city. It’s quick and easy, so you’re never far from converting your crypto to cash.
• Crypto-exclusive tour (explore Toronto): Feeling adventurous? You can take a full crypto-exclusive tour of the city and pay for everything with stablecoins. It’s a fun way to experience Toronto while being completely immersed in the crypto world.

Did you know? As of Sept. 10, 2024, fiat-backed stablecoins jumped to a $161.2-billion market capitalization, but this was still below 2021’s peak of $181.7 billion.

Third Stop: Edinburgh — Exploring the UK with stablecoins

In Edinburgh, you can experience the charm of Scotland while seamlessly using stablecoins for payments.

• Hotels and accommodation: Book your stay through Travala.com, which accepts stablecoins directly for hotels, ensuring you don’t need to convert to traditional currencies.
• Dining and shopping: While direct crypto payments are limited, you can use CoinGate gift cards to purchase Uber and Uber Eats services or shop on Amazon UK by redeeming gift cards bought with stablecoins.
• Transportation: You can use CoinGate Gift Cards to pay for Bolt rides in Edinburgh, providing a seamless travel option using your digital assets.

As observed, Edinburgh offers a more limited selection of places where you can use stablecoins directly compared to cities like Toronto or New York. Still, the available options allow you to enjoy Edinburgh while sticking to your preferred digital currency.

Fourth stop: Amsterdam — Navigating the Netherlands with stablecoins

Amsterdam boasts a rich cultural and historical heritage, a vibrant nightlife and a diverse culinary scene. Its extensive network of canals mitigates road traffic, creating an ideal environment for cycling. A bicycle lets you experience the city in full. 

Here’s how you can enjoy Amsterdam using stablecoins:

• Starbikes: The cycling service offers the convenience of bicycle rentals using crypto. Alternatively, if cycling isn’t your preferred mode of transport, consider a group boat tour. 
• Amsterdam Boat Events: It provides a range of crypto-friendly options, including the enticing prospect of enjoying a barbecue on your own private boat.
• Barbershop: For a more unconventional experience, you could visit Barbershop, which offers a unique blend of social gatherings, refreshments and personal grooming services. 
• Gentle Place Coffee: In Gentle Place Coffee, you can refresh yourself with hot coffee.

While the above merchants didn’t explicitly state they accept stablecoins, you might still be able to use yours through gift cards.

Did you know? In the second quarter of 2024, ending on June 30, 2024, stablecoin transactions reached a staggering $8.5 trillion across 1.1 billion transactions. This volume surpassed Visa’s transaction volume for the same period by more than double, which stood at $3.9 trillion.

Final destination: Singapore — Stablecoins in the heart of Asia

With crypto-friendly regulations in place, the number of businesses that accept payment in stablecoins is rising in Singapore. From wristwatches to handbags, you can spend your crypto without hesitation. 

Here are a few places you can visit in Singapore using stablecoins:

• Charles and Keith: Charles and Keith is a Singaporean fashion house label where you can buy footwear, handbags, shoes and children’s clothes with accessories using stablecoins. 
• Uchu Wasi: When you have enough shopping and sightseeing, you can walk into Uchu Wasi and enjoy world-class cuisine using USDT and USDC.
• 2ToneVintage: At 2ToneVintage, you can buy vintage watches, wristwatches and pocket watches with stablecoins. 
• Sarnies: It is a cafe where you can enjoy gourmet sandwiches, soups, salads and homemade bakery treats and pay with stablecoins.

If you want to book a taxi in Singapore using stablecoins, you could do so using the ride-hailing app Tada.

The benefits of traveling with stablecoins

As you might have understood, there are many benefits to traveling with stablecoins:

• Protection against currency fluctuations: Stablecoins save you from traditional exchange rate fluctuations and protect you from the typical volatility seen in other cryptocurrencies. However, it’s important to note that stablecoins rely on the stability of their underlying asset.
• Low transaction fees: You don’t need to pay hefty fees for international transfers often charged by traditional banking systems for cross-border payments.
• Speed and ease of transfers: You can transfer stablecoins nearly instantaneously, unlike conventional bank transfers, which can take several days to process.

Challenges you might face using stablecoins

Given the global adoption of stablecoins, using them for cross-border payments is a practical use case, but it’s not without risks: 

• Limited acceptance: While many businesses accept stablecoins, there are still some countries and establishments where you may encounter limitations. Therefore, research before filling your wallet with stablecoins to travel across continents.
• Regulatory concerns: Some countries have stringent regulations on cryptocurrency, which could restrict your ability to use stablecoins freely.
• Volatility of crypto exchanges: Although stablecoins are designed to be stable, fluctuations in crypto markets or sudden regulatory changes may affect their value.

Are stablecoins the future of international travel?

Modern international travelers may prefer stablecoins due to perks such as the benefits of digital currencies with price stability. Such travelers often focus on fast transactions, saving traditional currency exchange fees and navigating borders without financial friction.

However, challenges remain. Limited merchant acceptance, regional crypto regulations, and reliance on the stability of the underlying asset mean stablecoins are not yet a universal solution. This requires travelers to plan and ensure they choose crypto-friendly countries and reliable platforms to convert stablecoins if needed.

In this article, you explored a journey using stablecoins for travel across various cities. Stablecoin use and acceptance depend on your route, with some destinations being more crypto-friendly than others. Research, preparation and flexibility are key to making such a trip possible.

As global adoption of digital currencies grows, the increased acceptance perhaps points to a future where traveling the world without touching fiat currency becomes the norm.

So, can you travel the world using only stablecoins? With the right planning and destinations, the answer is increasingly “yes.” 

Wish you safe and seamless travels as you embrace the future of finance!