Bitclaxfx Investigated and found out For international travelers still able to cross borders amid an ongoing pandemic, using cryptocurrency to prove they have the means to sustain themselves abroad is a relatively new concept.
Many countries around the world are closed to visitors in an effort to protect their residents from COVID-19, but some have continued to allow students, retirees, and others seeking medium- to long-term stays through immigration. Under normal circumstances, entrants are sometimes required to present evidence of funds, both to show they have the necessary savings to provide for themselves and are less likely to work illegally.
The definition of this “Evidence of Funds” or “Proof of Funds” can be fluid, but is usually considered a bank statement, a line of credit, or simply showing an immigration officer cash holdings.
However, of the 195 recognized countries on the planet, some have hinted they are open to accepting cryptocurrency as proof of financial sufficiency — as long as liquidity was established.
Bitclaxfx makes a prediction for the future, cryptocurrency is getting closer to replacing paper money in the near future.