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The digital upgradation of the travel industry: is crypto behind it?

BY READERS DIGEST

1st Jan 2015 Managing your Money

The demand from customers for to use cryptocurrency in the travel industry has increased dramatically over the past few years, mirroring the meteoric rise in the popularity of cryptocurrencies over the same time period.

Image for crypto currency within travel industry

 

Even while there is still a considerable distance to go, the progress that has been made has surely been promising. According to the findings of a recent survey, the tourism industry is the most crypto-friendly of all the top businesses.

Which businesses currently take cryptocurrency?

Travala, Destinia, CheapAir, BTCtrip, Abitsky, as well as Berkley Travel, are just a few of the many online travel providers that accept Bitcoin and other cryptocurrencies. Tourists can reserve lodgings and flights through these services.

By purchasing your flights straight with the airline, you can avoid having to pay booking fees and deal with other headaches. In 2014, AirBaltic was the first airline to take cryptocurrency; thereafter, LOT Polish Airlines and Virgin Galactic followed suit.

In 2021, the worldwide payment network Universal Air Travel Plan (UATP) plans to begin accepting ten of the most prominent cryptocurrencies as payment. UATP is accepted by thousands of travel vendors, including most major airlines and agencies.

Kessler Collection, a chain of high-end hotels, has also said it will accept Bitcoin, Dogecoin, or Ether as payment. Click here to learn about starting your crypto journey. 

To accommodate the growing demand from customers who wish to use cryptocurrency to pay for trips, more and more businesses will likely begin to embrace this mode of payment in the near future.  According to a survey from Travala.com, 22% of the UK's holidaymakers plan to use cryptocurrencies to pay for at least some of their future trips.

Why should you consider paying for your next holiday with crypto?

A secure & easy booking process

People are attracted to cryptocurrencies in part because of the safety it provides, thanks to the decentralised technology known as the blockchain. It's as easy as using a credit card to reserve a hotel room or plane ticket with cryptocurrency. Since travel-related purchases tend to be pricier than average, consumers naturally prefer to make them through secure channels.

Inexpensive countrywide conversion rates

To further reduce their travel expenses, tourists might use cryptocurrencies to avoid costly currency conversion costs. Using a Bitcoin ATM, you can exchange your local currency for BTC, which can subsequently be translated to another country's currency for a negligible or no fee at all.

Paying with cryptocurrency instead of exchanging your money could save you time and effort if you're visiting a country with a volatile currency.

Loyalty programs as incentives

Particularly in the tourism industry, loyalty reward schemes can be extremely beneficial to repeat clients.

These incentives will also be quantized as digital currency, so even if you opt to pay for your trip with bitcoin, you won't miss out on them.

Tips for using Bitcoin to book your dream holiday

If you want to pay for your next holiday with cryptocurrency but don't have any yet, you can buy some at any of a number of different online exchanges.

In order to buy cryptocurrencies, buyers can sign up for an account at a reputable exchange platform like Binance, Coinbase, or Gemini.

Select cryptocurrency as your preferred method of payment when making a transaction with a legitimate agency or airline, and you will be forwarded towards one of the reliable pages.

In addition to traditional currency, PayPal users can now directly buy cryptocurrency.

Click here to find the perfect fit for your next vacay!

Wrapping it up

It's a fact that cryptocurrency is widely accepted as a form of payment nowadays; the travel industry is no exception. Your personal preferences and the particulars of your travel will greatly determine whether the positives outweigh the negatives in this scenario.

In the end, this kind of work will assist tourists to avoid a lot of hassles, such as using foreign currency, dealing with a lack of transparency, and having money swallowed up by exchanges and other third parties.

They may tailor their travels to their preferences, make changes, or even sell them without losing money or wasting time on cumbersome administrative processes with the help of crypto solutions.

This post contains affiliate links, so we may earn a small commission when you make a purchase through links on our site at no additional cost to you. Read our disclaimer

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