Digital currencies and the blockchain continue to rise in popularity, and more people are considering the option of adding cryptocurrencies to their portfolios and using them instead of traditional cash. According to Binance data, Bitcoin, Ethereum, and other blockchain-based currencies are more often used to pay for products and services. Luckily, travel is also included among the industries that accept cryptocurrencies, so crypto holders can pay with their favorite currency after checking the price chart and deeming it a sound move. Even if using digital money has its pros and cons, an increasing number of consumers are eager to spend it on paying travel-related expenses.
Why do travelers prefer to pay with cryptocurrencies?
Booking services like accommodation and flights with digital currencies is quite simple these days because alternative payment methods have entered the mainstream. Many travelers are drawn to the security they offer, which is guaranteed through the decentralized blockchain, which lays at the base of all cryptocurrencies. Considering that most services associated with vacations are expensive, safe and secure transactions are highly desired.
People also use digital currencies to avoid paying fees associated with purchasing services and products overseas. They can convert traditional money into cryptocurrencies and then virtual money into local currencies without paying expensive fees or a fee at all. Additionally, when they travel to countries with unstable currencies, paying with digital alternatives instead of converting money to the local currency can help travelers save money.
Additionally, some platforms offer rewards for companies that pay for services using cryptocurrencies, encouraging people to use online money more often.
Why do some people still have second thoughts about using cryptocurrencies when traveling?
After a tough bear market, cryptocurrencies have earned the reputation of being unstable assets and depending on the destination, some travelers might find that digital currencies aren’t the ideal option for them. While some travelers prefer digital currencies, others stick to traditional money because they don’t fully understand how it works. Nowadays it is normal for online companies that offer travel-related services like accommodation, flight services, and entertainment services to accept all kinds of payment methods. However, numerous major players in the sector still didn’t integrate cryptocurrencies in their payment options.
Additionally, some countries still ban the use of crypto for purchasing products and services. Therefore, when traveling to Vietnam, Nepal, Egypt, China, Bolivia, or Argentina, people need to use the national currency.
Is it possible to plan a trip using solely cryptocurrencies?
Sure, since digital currencies like Bitcoin and Ethereum are gaining popularity among service providers, travelers can organize their trips only with cryptocurrencies. When searching for services, they must check for websites offering accommodation and transport and accepting crypto payments. These platforms often offer discounts to those who select online money because they expect cryptocurrencies to appreciate in value.
Planning trips should start with booking a flight. After picking the destination and ensuring it accepts crypto payments, purchasing the flight ticket is the following step. It’s crucial to compare quotes and check reviews to ensure you find a reputable flight that accepts crypto payments. Luckily, numerous online platforms offer flight and accommodation services, covering an extensive list of worldwide destinations, so a little research will uncover them. The user experience with these platforms is often straightforward, and you’ll find no issue in completing the process. There’s not much difference from booking a vacation with traditional cash. Most platforms offer several payment options, and you only need to pick the crypto one.
The next step is to book accommodation, and finding a hotel that accepts digital payments shouldn’t be difficult because popular destinations usually accept a wide range of payment methods. While some accommodation solutions allow crypto payments on their official websites, for others, you’ll have to use third-party platforms because they don’t process crypto payments. Suppose you want to stay at a specific place, you can also contact the hotel and ask if they accept crypto payments.
Before leaving home, research your destination to find out if you can use digital cash to pay for products and services. You shouldn’t have any issues using your preferred payment solutions in big cities, but if you want to head to remote locations, you should also convert some into local currency. Suppose this is the first time you book a vacation using cryptocurrency; you need to create an account on an online exchange to transfer money from your credit card account to the crypto wallet and convert it to your selected digital currency.
Tips to enjoy a stress-free experience
Get a hardware wallet
You should also have a hardware wallet for local transactions because you’re traveling overseas. You might pick a destination without networking, and you won’t be able to access your funds if you lack one.
Opt for a multi-signature wallet
After getting the hard-wallet, you need to create a multi-signature to protect your funds. Let’s imagine that you lose your wallet; how can you make sure it’s properly protected? Also, you might want to leave it at your hotel when exploring the surroundings and ensure no one can access it.
Use two-factor authentication
Something we love about the crypto community is that it’s very tech-centric, which means that it promotes the best solutions for enhancing security and user experience. Protecting your identity when you use crypto is paramount, and two-factor authentication makes your job easier. Cyber security specialists highlight that people nowadays should use two-factor authentication for all accounts that contain information about your address, personal details, and payment solutions.
Be flexible
When you try to plan an entire trip using cryptocurrencies, it’s crucial to be flexible because it’s not the most popular solution, and it might require adjusting the initial plan. For example, you might have to limit your trip to major cities and pick from a limited list of hotels. It will be easier if you use a mix of payment solutions so you can benefit from a complete experience.
Are you ready to travel using cryptocurrencies? We hope the above information will help you.
