CAN I USE MY CRYTPO IN CABO?
Whether it’s your dream to sunbathe on the shores of Playa Medano or scuba dive at the picturesque scenery of Land’s End, you probably have the same thought as most of our guests: How much cash should I carry with me? And what is the best exchange rate? Let’s just pretend for a moment that these questions are not at the forefront of your thinking…. well they should be. The financial climate and payment requirements are switching so quickly, it’s good to be prepared with payment options when buying goods and services so you don’t need to worry once you’re here.
Since the world is exploding with cryptocurrency, we sent our team into the field to find opportunities where this medium of payment is accepted. As of recent, visitors to Cabo really don’t need cash money anymore!! Digital currencies, aka crypto in Cabo, are revolutionizing payment methods in the Baja.
Why should you consider carrying crypto in Cabo?
There are plenty of reasons to have a digital wallet on your trip to Cabo San Lucas.
In early 2018, the Mexican government enacted the Fintech law that merges cryptocurrencies in the nation’s financial system. Using cryptocurrency in Cabo San Lucas, Mexico, is encouraged by Benxico and private enterprise. In mainland Mexico, there are reported vehicle sales, land sales and common goods that are chaning hands with the use of cryptocurrency.
To your surprise, Mexico doesn’t shade more than 56% of the population under its financial umbrella. This complex banking mechanism is the consequence of the state’s anti-crime efforts. As a result, residents, as well as tourists, prefer crypto in Cabo. Its ease of transfer and liquidity appeals to US citizens. Now, combine it with the government’s support – this gringo-style sub-culture of Mexico is paradise on earth!
How to buy services using cryptocurrency in Cabo San Lucas, Mexico?
Cabo San Lucas is the top tourist destination in Latin America. That’s why you’ll see most price tags in US dollars, instead of Pesos.
However, Mexicans rely heavily on cash. And this perception reflects in all areas within Los Cabos that you visit. Whether your vacation takes you to Plaza del Pescador or local food courts, some businesses offer discounts on cash payment. However, the momentum is shifting!
Some luxury resorts, short-term vacation villas and beach-front penthouses are now directly dealing in blockchain-based currencies. The trend is traced back to the Bobby Hotel of Nashville (USA) when their partnership was announced with BitPay.
In Cabo, steakhouses such as Chops and the golf & resort community of Quivira are accepting crypto in Cabo to support tourists requests. Besides, our concierge can recommend a rental car company and a luxury yacht charter that will both allow using cryptocurrency in Cabo San Lucas, Mexico.
Can you guess where it all started? The GunsBet online casino was the first to include BTC and LTC in its payment method.
Which virtual coins are valued most in Mexico?
If the benefits of crypto in Cabo have fascinated you, you must be looking for the best exchange platforms.
Bitcoin went from less than $1,000 to above $11,000 in 2017 alone. Now, it stands three times as much. It’s the most valuable crypto in Cabo, however, it’s one of the most volatile as well.
Look out for Bitcoin ATMs in Los Cabos. It will allow a convenient transaction to Mexican Peso. Otherwise, use an online platform, such as Bitso App, to sell your money. Then, withdraw from commercial banks, Mastercard, American Express, or Paypal. The ever-popular Bittrex is a well-known Cabo trading platform – actually the most popular in Mexico.
Earlier this week, Bitso Exchange Company hit a $2.2 billion landmark. It provides 2 million people across Latin America the escrow-protected service to mine bitcoins along with eight other currencies. And its largest market share lies in Mexico.
Cabo San Lucas and Cryptocurrency: The Future
It’s the beginning of Cabo San Lucas and cryptocurrency lore that will substitute fiat currency. We’re told the blue-chip airlines will soon adopt crypto in Cabo as a method of payment. Even more so, Four Seasons Luxury Villas are going to debut in 2023 in Cabo Del Sol. And many hospitality industry executives are expecting this property to be booked via electronic currency.
Contact a Villa Expert today and see how you can use Cryptocurrency to book villas in Cabo.