3 Easy Ways For Digital Nomads To Save Money In 2019

While the digital nomad lifestyle is one of the most freeing and fulfilling way to live, it doesn’t come without its challenges, especially when it comes to managing your finances.

So much time and money can be wasted on bad currency exchange rates, ATM fees, VISA fees, international bank transfers and shipping of physical products.

Over the last few years of living between Thailand and Europe, I have lost a lot of time and money dealing with the issues mentioned above, and am constantly on the look for cheaper and more time efficient solutions.

In the next paragraphs I will be sharing with you three easy ways through which you can make this “my workplace is the world” dream become much cheaper and faster than you ever thought possible.

Open a borderless account with TransferWise

TransferWise has been around for a few years now, offering a cheaper and faster international bank transfer service than most banks doing it through SWIFT.

This year, they stepped up their game with their borderless account, which can hold over 40 currencies, including USD, EUR, GBP, AUD and NZD which have real and local bank details.

That means no transaction fee and no exchange rate for those five currencies in over 30 countries.

On top of that, they also give you a debit card which allows you to spend all of your currencies, anywhere in the world with low conversion fees and no transaction fees.

This is a dream come true for all of us getting paid in western currencies while travelling and spending in places like Asia or South America.

The online set-up is super easy and fast, and the debit card is absolutely free.

You can use this link to sign-up: www.transferwise.com/u/fabriceb25

Download the Exodus wallet and use stablecoins

Another alternative to banks is of course, my specialty, cryptocurrency.

Known for their extremely fast and almost free transactions, digital and decentralized cash keeps on increasing as people’s preferred mean to send and receive money.

However there is a major issue with cryptos: the market is so young and volatile that it’s hard to use Bitcoin or other currencies as both stable stores of value and means of exchange.

There is one way around it though:

Stablecoins are cryptocurrencies which are directly tied to a particular fiat currency, so they are theoretically not influenced by the ups and downs of the market.

Most of them are pegged to the US dollar, which means that each coin is supposed to be backed by real USD.

Why is this more advantageous than money in a bank?

First of all, you become your own bank by being fully responsible for your money, which is one of the main reasons why Bitcoin was created in the first place.

Secondly, you can save a lot of time on transactions which are almost instantaneous and 24/7. No more waiting for the weekend to be over to receive that long due paycheck!

And thirdly, you can send and receive money from anywhere in the world, at extremely low fees and even for free in some cases.

So how do you get started?

I recommend you to use the Exodus wallet for its ease of use, security and pleasing design.

Simply download and install it on your computer following their instructions.

Then, you’ll need to either buy stablecoins using Bitcoin through an exchange like Binance, or if you’re a US citizen, use the Paxos platform to exchange USD for PAX, with zero fee.

And finally, you can send those stablecoins to your Exodus wallet where you can hold them safely. From there you can send and receive money at any time.

I would personally recommend to stay away from Tether (USDT) as it has been the center of a lot of controversy in the last year and even dropped over 10% in value due to some recent rumors. It still hasn’t fully recovered since then.

So stick with TrueUSD (TUSD) and my choice of preference, Paxos (PAX).
If you want to feel safer, you can even diversify by holding both of them.

Now convince your friends, employer, employees or business partners to do the same, and you can start sending each other money for free!

Exodus link: https://www.exodus.io/releases/
Paxos link: https://www.paxos.com/standard/

Sign-up with Purse to get massive discounts on Amazon

Here is yet another way through which you can save a lot of money with cryptocurrencies.

Purse is an online platform which connects Amazon to the crypto market. It not only allows you to pay with many different coins, but it also gives you massive discounts.

The way it works is that you select the item you wish to buy, and then decide the discount you wish to have on it. The maximum discount on each item is 33%, and 15% for the first purchase.

There is one catch though…

The higher the discount, the longer you have to wait for your order to be filled, as you can see below.

So how does it work?

It’s a simple exchange between buyers and “earners”.

Buyers place their offer with cryptocurrency, and earners exchange their Amazon gift cards for your crypto. It’s a win-win for everyone.

You can browse all the Amazon products on their website, and you can also import your wish list to save yourself some time.

Long story short, Purse is a genius concept which can turn a $1500 laptop purchase into a $1000 one, as long as you are willing to wait a little longer for it.

Use this link to sign-up with them: https://purse.io/?_r=SLlHIj

So here were my top 3 money savers for 2019, I hope at least one of them can be useful to you, your friends and family.

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