Bitcoin ATM at Miami Airport Answers Questions about Traveling with Crypto | Shelter Crypto | Shelter Humanity | Charity Token Homeless | Charity Coin

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Date: 2021/07/30 15:29:44

According to a press statement, Bitstop, a Miami-based Bitcoin ATM maker, recently installed Miami International Airport’s initial shelter crypto ATM. The installation is in addition to the 106 machines Bitstop has already installed across the U.S. According to a press release issued October 15, the installation raises questions about legality and benefits of using crypto to travel instead of cash when it comes time to declare assets.


Traveling privately with Crypto


Although Bitstop's new ATM at Miami International Airport's concourse G doesn't seem to be a significant development in the crypto market, the fact that another crypto ATM was installed is noteworthy. Bitstop describes the user experience as private. However, travelers must register using a valid ID or mobile device to access the company's ATM. This is due to the current regulatory climate. Although there are still ATMs that permit non-ID purchase of digital assets, global regulatory bodies are taking coordinated steps in order to better track their flow.


Second, travelers are talking for some time about declaring their crypto holdings upon crossing customs. Countries have strict rules about the amount of fiat money, gold, and other assets they allow travelers to bring across their borders. But crypto is not as straightforward.


Bitcoin ATM at Miami Airport Answers Questions about Traveling with Crypto


A bill that would have required travelers to declare digital currencies exceeding $10,000 was filed by the U.S. Senate in 2017. However, it is yet to be approved by the Customs Declaration Cards familiar to travelers. The bill is summarized as follows:


Within 18 months of the date of enactment, the Secretary for Homeland Security will submit to Congress, in consultation and the Commissioner of U.S. Customs and Border Protection a report detailing a strategy that would interdict and identify prepaid access and other similar devices at border crossings and other ports to enter the United States.


The latest version of this bill is yet to be passed by the Senate. However, there are new decryption laws in Australia that have some people wondering when these types of practices may become more common. The laws passed in December have drastically increased the penalties to those accused in these cases, putting them at risk of 10 years imprisonment. In the past, the maximum penalty was two years in prison.




Bitcoin ATM at Miami Airport raises questions about traveling with Crypto


Bitstop Co-Founder Cites Security and Convenience


Doug Carrillo is Bitstop's founder. He says in the press statement: "More people prefer to travel using Bitcoin over cash for convenience, security and comfort." Miami International Airport allows our customers to easily exchange their dollars for Bitcoin, and vice versa, when they travel domestically or internationally.


Carrillo's proclamation raises additional questions about whether travelers could convert funds en route to avoid the need for declaration at destination. These transactions can be traced easily by law enforcement if there is legislation against them.


Bitstop has 107 Bitcoin ATMs across the country that accept BTC. They also require user identification. For some, this is still a viable and convenient option. Some people prefer to buy crypto in a more privacy-friendly manner. There are trading platforms like that facilitate peer-to-peer bitcoin cash (BCH), and offer multiple payment options. They also use an end-to–end encrypted escrow service.

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