Many wonder why carry cash when you can arrive in Georgia with cryptocurrency in your digital wallet? Upon your first visit to Georgia, it becomes evident how much more convenient it is to have a crypto wallet than a bulky envelope of dollars. However, a question arises: how to convert cryptocurrency into Georgian lari? After all, you can't yet pay with crypto at local cafes. Let's explore the main ways to exchange cryptocurrency for local money.

Cryptocurrency Regulation in Georgia

In Georgia, cryptocurrency operations are legal and regulated by legislation. Since 2019, all organizations conducting cryptocurrency exchange must obtain a VASP (Virtual Asset Service Provider) license from the National Bank of Georgia. This license confirms the legitimacy of the exchange's activities and its compliance with anti-money laundering requirements. When choosing an exchange, it is recommended to verify the presence of this license — this ensures the security of operations and protection of consumer rights.

About the Georgian Lari

The official currency of Georgia is called the lari (GEL). It was introduced in 1995 following a monetary reform. Interestingly, the word "lari" in Georgian means "treasure" or "property." Lari in your pocket can indeed become a treasure — despite cards being accepted almost everywhere, you don't always want to pay commissions and lose money on double or triple currency conversion. Plus, having cash in your pocket adds confidence. As for the exchange rate — it can fluctuate, so it is recommended to check it at least once a day on Google or the National Bank of Georgia's website to know the current ratio to dollars or euros.

Method #1: Crypto ATMs

Crypto ATMs (also known as Bitcoin ATMs) become particularly useful during late arrivals when all exchange offices are closed. In Tbilisi, Batumi, and other major cities, these machines are located in busy areas and shopping centers. They look like regular ATMs on the outside, but their internal workings are adapted for cryptocurrency operations.

The mechanism is simple: the user selects the "Sell" operation, scans their wallet QR code, enters the desired amount, and receives cash. The advantages are obvious: 24/7 availability and no need for personal interaction. However, be aware of high commissions and limited cryptocurrency options — usually Bitcoin, Ethereum, and stablecoins.

Crypto ATMs are especially helpful in emergency situations, for example, when you urgently need money for a taxi to the hotel. For larger amounts, you might want to consider alternative options.

Method #2: Offline Exchanges

An alternative option is offline exchanges. In the center of Tbilisi or Batumi, you can find small, cozy offices where you can calmly discuss the rate with a manager and ask any questions you may have. Language barrier is not an issue: most staff speak Russian or English, and if necessary, you can always use a translator. When choosing an exchange, make sure to verify the presence of an active VASP license, which is usually displayed prominently in the office.

Advantages of offline exchanges:

Rates are often better than at crypto ATMs
Possibility to negotiate terms for large volumes
Exchange takes place in a comfortable and secure environment

Additional Option: Transfer to a Georgian Bank Account

For holders of local bank cards (TBC, CREDO, or BOG), there is an additional option — using cryptocurrency exchange services with direct deposit to a bank account. For example, the AllTrust.Me service eliminates the need to carry cash. Funds are transferred directly to your card, which simplifies further expenses.

This is particularly convenient for long-term stays in Georgia and frequent payments in stores. Card payments are widely accepted here — terminals are available almost everywhere, from supermarkets to mountain souvenir shops.

Final Recommendations

The choice of exchange method depends on your specific situation. For urgent exchanges, a crypto ATM would be the optimal option. If details are important and you have time to discuss terms — it's worth visiting an offline exchange. Local bank card holders should consider the option of direct transfer to their account.

It's important to always clarify commission rates and exchange conditions, as these directly affect the final amount in lari. With a smart approach to exchange, you'll have more funds left for exploring local cuisine and attractions.

How to Exchange Cryptocurrency for Lari in Georgia

How to Exchange Cryptocurrency for Lari in Georgia

Other newsSee All

Exchange

Other news
See All