Cryptocurrency seems to be this years hottest commodity, and if you have some, there are several ways to use them while traveling.
The recent surge of Bitcoin stock has started somewhat of a crypo-craze, and left everyone kicking themelves for not having bought in 8 years ago.
“In a nutshell, cryptocurrency is digital money secured with encryption and is only accessible by authorized parties. As opposed traditional currencies, cryptocurrency does not operate through central banks. It can be used online for direct buyer-to-seller transactions without a centralized intermediary, known as blockchain.”
While many industries have been quick to adopt cryptocurrencies, the travel industry isn’t far behind them.
Real Travel: Virtual Money. Are Cryptocurrencies an Emerging Travel Trend?
The First Industries to Adopt Cryptocurrency
Already, there are many opportunities to exchange money for products and services with cryptocurrencies, and you can bet there will be many more to come in the future.
One of the first to embrace the notion of allowing transactions to be made by virtual cash were poker rooms powered by blockchain technology, online casinos and sports betting operators that used similar solutions.
Since then, new ideas are coming in, and more and more companies are joining the game. As for traveling and discovering the world, there is no reason why this industry shouldn’t participate in the benefits, too.
Cryptocurrency is this years hottest commodity, and there are several ways to use them while traveling.Click To Tweet
Emerging as a Travel Industry Trend
Most cryptocurrencies, such as the most popular and the most expensive, Bitcoin, can be utilized to purchase goods and services online when we plan to make a trip. Additionally, new coins are created for the sole purpose of making such activities easier.
The growing number of companies and business owners who accept digital cash as a form of payment means that we can buy more things this way while on vacation. Such trends are naturally expected to strengthen in the future. However, some of the areas of interest stand above the others.
How You Can Currently Spend It
Many established travel booking services, alongside new and aspiring companies, seem to have embraced the concept of Bitcoin and the like. So, there are plenty of opportunities to book a flight and skip exchange rates in the process.
The amount you spend, provided there are no cryptocurrency-related special deals, usually evens out to be the same as with traditional (fiat) money, but there are many benefits to choosing crypto over cash, including lower fee, highly secure transactions, and no exchange rate.
As for accommodations, a number of the providers are starting to rush to fill that void, too. Especially with Airbnb not in the game just yet, although it will likely change in the future.
Portals like CoinMap and Bitcoin.Travel are quite useful in finding places where digital cash is welcomed. You can easily see locations where you can try an indigenous food, experience native culture, utilize local transportation or shop. All that while enjoying the benefits of a decentralized currency system.
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