bitcoin
Bitcoin is helping stateless man Glen Roberts.

Glen Roberts, who became stateless after renouncing his US citizenship, said popular digital currency bitcoin is of immense help to people like him while conducting cross-border transactions.

Roberts told Russia Today that he is using bitcoin for almost all of his daily expenses.

"I live in Asuncion, Paraguay, and so far I've found one location, a very nice restaurant where I can use bitcoin to pay for my meal and I enjoy that opportunity," he said.

"Now, when I received a MasterCard I can fund with bitcoin, I am able to use bitcoin for almost all of my daily expenses. I hope in future it has a positive impact on the lives of stateless people."

Glen Roberts, who authored 'How to Renounce Your US Citizenship in Two Easy Steps,' gave up his nationality after living in various Central and South American countries for more than a decade.

When he became stateless, he started using bitcoin, which does not have a national origin. Roberts is meeting most of his daily expenses with a debit MasterCard funded with bitcoin.

Roberts noted that the lack of government regulation is the main advantage of bitcoin, as he feels that modern governments are controlling all spheres of human life, limiting economic activities and endangering civil liberties.

Bitcoin is a form of decentralised digital currency that was launched in 2009 and is traded within a global network of computers. They can be transferred without going through banks or clearing houses, reducing fees involved in the services significantly.

The digital currency's unique features have attracted many companies, and they started accepting bitcoin payments for their products and services. Major companies that allow customers to pay with bitcoin include Microsoft, Dell and Overstock.com.

Nevertheless, the cryptocurrency has been linked to a number of scandals and its value is highly volatile. Central banks in most of the countries have issued warnings to citizens about possible dangers involved in the use of bitcoin.

The digital currency is allegedly being used in illegal activities such as money laundering, terrorist-financing and black marketing.