Integration of the Travel industry with Cryptocurrency has touched the sky in just a few months. People are nowadays using crypto as they were using it for centuries. The gateway to use crypto for booking multiple things is open and running at an exceptionally high pace. You can book flights, hotels, pay at restaurants through Crypto wallets. Let’s get deep into what benefits you can take from Cryptocurrency and who allow you to make payments with cryptocurrency.
TOPIC OF CONTENT
• Cryptocurrency ‘making in roads’ in travel
• Who allows to make payments with bitcoin?
• Benefits of using Crypto for your next trip
• Drawbacks of using Cryptocurrency
• Special Tips for booking your next trip with cryptocurrency
• Last few words
Let’s take a look at them one by one.
Cryptocurrency ‘making in roads’ in travel
Cryptocurrencies like Bitcoin, Ethereum and Dogecoin aren’t just for investing anymore. ‘Cryptocurrency is making several inroads into the travel space’ says Daniel Sloan, co-founder of Future Tech Software Labs, a cryptocurrency investment company in Austin, Texas. Many Travel Sites be it GetYourGuide or Bobby Hotel are accepting Dogecoin and other Cryptocurrencies.
The number of bookings using Crypto has steadily risen month over month to record highs, even during the pandemic. It’s a sign that more people have crypto, and they want to spend it on travel.JUAN OTERO, CEO, TRAVALA.COM
A recent survey by Travala.com concluded that 22% of American travelers are planning to use cryptocurrency for their upcoming travels. The surprising fact is people have already spent $10 Million in booking via Travala.com using cryptocurrency which is like 70% of their total business. Isn’t that amazing?
Who allows to make payments with Bitcoin?
Many important travel areas are now being covered by crypto. Let’s take a look at them
|Online Travel Agencies||Back in 2013, CheapAir.com was among the first online travel agency that accepted bitcoin payment. And now this spider web is spread to book more than 3 Million travel products online|
|Airlines||Back in 2014, AirBaltic became 1st airline to accept bitcoin payment. And now this revolution has been joined by many other airline companies including LOT Polish Airlines and Virgin Galactic.|
|Hotel Reservations||Premium Hotel Kessler Collection recently announced to accept payment from Bitcoin, Dogecoin, Ether|
Benefits of using Crypto for your next trip
Can you relate the problem of foreign exchange fees, paying for unwanted exchange rates? Not any more as cryptocurrency will avoid all foreign exchange rates. And this is not it. A Bitcoin ATM machine will soon let you convert your dollars to bitcoins and then you can convert it into euros in France and can completely avoid any fees and save your money.
Crypto payment can potentially help travelers avoid fluctuating exchange ratesSiyu Wang, Assistant Professor of Economics, Wichita State
While countries like El Salvador have embraced cryptocurrencies, other countries like Dubai, Egypt, Nepal, China, Algeria, Bolivia and Vietnam don’t allow you to purchase Bitcoin.
Drawbacks of using Cryptocurrency
The nature of Cryptocurrency is till now seems to be very volatile. Today if you can use Cryptocurrency for Airline booking, tomorrow you may not. Also, there are virtually no consumer protections like you have in Credit Cards and other places.
Special Tips for booking your next trip with Crypto
1. Build a good understanding of Cryptocurrency
There might be endless platforms from where you can build the core knowledge of cryptocurrencies. A growing company named 5minutecoins is consistently standing out from the crowd and is providing genuine and up to date information about all the cryptocurrencies including Shiba Inu, Saitama Inu, Webull and many more.
5minutecoins is also guiding us on how to buy Bitcoin or Litecoin and Do’s and Don’t of it in one place. You can even drop a mail to their official mail id email@example.com for any customized queries and get a free response from them.
2. How to get Hands-on on Cryptocurrency
Check out a cryptocurrency exchange like Binance, Coinbase. If you have a PayPal account, you can buy Bitcoin, Ethereum, Litecoin and Bitcoin Cash.
New block chain technology will tokenize rewards, making them into a form of digital currency. You can now cut up your Credit cards for which you are paying unwanted annual fees and enjoy the flexibility and security offered by Cryptocurrency.
Last few words
Many new travel companies are opening to their wings to support crypto and will release their statements soon. We will keep posting the latest updates about the travel and how you can enjoy the best using Crypto. You can follow 5Minutecoins for all the latest updates and built your plan.
Till then Stay Safe!