The short answer, without giving out any details is not yet, but we're getting there shortly.
Photo by Peggy Anke on Unsplash
A few days ago I read an article which combined with what we know, I'd say we're on the right track.
The article was about a digital nomad living on $47 a day in Croatia, or at least that's what the article says.
Bear with me and I'm going to detail my thoughts about why I think we're on the right track and what track is that exactly.
Being A Digital Nomad In Croatia
I covered the topic about digital nomads at the beginning of the year, when the visa went live in Croatia and not only. Now we have this video, in which the guy living in Croatia as a digital nomad is sharing his experience.
When I saw the title of the article, I knew right away that the author decided to focus on trapping people into reading it by highlighting some eye catching details (or click-bait?). $47 may look tempting, but it may not contain the whole truth.
Please note, all the details you see below, regarding expenses are taken from the video.
This is what you need prior to applying for a digital nomad visa in Croatia:
- permit that costs $100,
- proof of income: $33k in your bank account/ or proof of making $2750/month,
- proof of employment, proof of continuing income,
- health insurance,
- a place to stay,
- background check from the FBI, fingerprints.
Living costs that he mentions in the video:
- phone bill $12/month,
- health insurance $65/month,
- 1 meal (food and drink) $10
$47/day means $1410/month, but let me take what the article says with a pinch of salt as I don't trust those numbers, unless I see the calculation myself.
The bottom line here is you have to have a lot of money in order to start your journey as renting an apartment for one year requires a few months paid in advance for example. Health insurance is also paid for one year and not monthly as you need proof for your application.
What is worse, you have to have $33k in your bank account, which is the equivalent of $2750x12 months and proof of income.
There's also the fingerprint verification, which may or may not be a problem, but in case you needed it, prepare yourself for paying some fees as nothing is for free nowadays.
The most important detail that is left out is the internet subscription. A digital nomad without internet connection is just a nomad. Having internet connection is a good, but having the best internet connection is crucial. In some countries internet is cheap, but we don't know what's the situation in Croatia. The guy is not complaining though. I bet he's not allowed.
What About Us?
Unfortunately we don't qualify for a digital nomad visa as proving employment is one of the requirements. Being a content creator on a blockchain that pays in crypto, or being a trader is not considered a job right now and it is not accepted. You're your own boss, which is the purpose of the whole thing. You may have a steady monthly income that can be proven, but not considered as a valid when applying for a visa.
However, the world is changing. This is a process and change won't come overnight, but the first steps are already done.
-Republic of Panama introduces bill for regulating crypto
-El Salvador leads world in adopting bitcoin as official currency
These are two articles I saw today on Twitter, but the news is not new. We've known for awhile about these changes and there's more. More and more countries are looking into adopting crypto as a legal tender, which means sooner or later being a crypto nomad will be a real thing officially as well.
Smart countries that are adopting crypto will make sure to attract those eager of working remotely as any income is good income. Crypto nomads would spend their crypto locally while living in the chosen country, which would benefit the economy.
Now let's create a scenario in order to see how we could apply for a crypto nomad visa, if there would be such a thing.
Let's say the proof of income: $33k in your bank account/ or proof of making $2750/month would be a requirement. Why I'm saying that? Because whatever your occupation or job is, any country would require a certain monthly amount of crypto/fiat for you to be earned in order to be able to sustain yourself. Please note, my scenario is for Croatia as in other countries living expenses may be less, but most likely way more. Big cities in developed countries can rip you off of all earnings and wealth you have.
Going back to our scenario, $2750 today, at a rate of $0.82/HIVE would mean 3,354 HIVE but because of volatility, you can't be certain of anything. You would need much more just to be sure, or less if HIVE starts to rally. So as a safety measure, you should calculate a lot more. Now go look at your earnings and see if you would meet the requirements :)
I have no reason to complain about my earnings, but I'm not even halfway of meeting the requirements. Even if I would sell all my tribe tokens, it would not be enough.
Trading is a different thing as if you have a larger capital and you're good, sky is the limit.
I see a better chance of pooling $33k worth of crypto into a DeFi pool to guarantee one has the funds to live on in case things go wrong. In case of withdrawal, authorities may have the right to revoke your visa as you broke the rules and don't have the necessary safety funds. This way banks can be bypassed.
Health insurance is a must anyway, regardless of your place of staying, so that is ok. Having a contract for an one year rented apartment is also ok, that can be paid in advance.
How does that sound? Would you be ok with such requirements?
We need HIVE to moon though. Imagine 1 HIVE trading at $5 :) Life would be much better, but no worries, that time will come.
Ok, jokes aside, mark my words, in a few years crypto nomads will be welcomed in more countries than they are now. This is the future, so get ready.
