A Bitcoin wallet is the new innovative idea to a pocket-friendly and hassle-free travel these days. Voyagers are yet to find out more about this unique way to payment method which has gained huge popularity in a short span of time in the travel industry. May it be tickets for a flight or hotel booking, the digital currency has made it complete hands-on process for the customers.
Bitcoin is the latest form of cryptocurrency which serves the exact role as traditional currency. The only difference between them is the cryptocurrency is not regulated by any bank or government body; therefore there is a unique feature of anonymity given to users. The payment process is also almost like the credit/debit card in which the user is redirected to another payment gateway which gives further instructions to complete the payment.
Who Accepts Bitcoin Wallet?
A bitcoin wallet is accepted by several travel agencies at the moment which facilitates the user to book a hotel, flight, rental car and other services. Some of them are Fluege.com, Abitsky, CheapAir, Destinia, Berkeley Travel and BTCtrip.
According to Million Mile Secrets, there are several portals that allow the user to book tickets directly with a few airlines that acknowledge Bitcoin within their payment systems such as Far Eastern Air, FlyPeach and, airBaltic. eTravelSmart is offering bus tickets in India against Bitcoins using Unocoin payment gateway and provides services of about 80,000+ bus routes. Another great option to choose hotel through cryptocurrency is 9flats which offers great deals on guest houses, vacation rentals and apartments.
What Makes Bitcoin More Easily Adaptable Within Tourism Market?
There has been a turbulent phase for cryptocurrency right at the beginning of his year after attaining its all-time highest trade value in December last year. However, keeping in mind that the market keeps on shifting there needs to be a close monitoring of the payment systems which are allowing crypto trade.
Most of the banks allow the purchase of Bitcoin wallet through users credit/debit card, but there are several other options also like regular ACH transfers and PayPal. Though, there are merits and demerits of all these options considering applicable fees, transaction time and size of purchase. The next step is to choose a trusted wallet which stores the valuable Bitcoin in several hardware and software forms. A quick research on the wallet reputation can save both time and money while making the bookings.
Bitcoin Wallet V/S Other Payment Methods In Tourism Industry
Bitcoin is completely hassle-free with no requirement of currency conversion and foreign transaction fees while any other bank operated card requires some transaction or process fee. Another important feature of a crypto wallet is that it doesn’t need any personal information which means it is prone to theft while a normal banking operation requires a whole lot of personal details. A bitcoin wallet is a virtual wallet and needs no physical storage with the user all the time while a physical card is potentially risky if gets stole or lost.
However, there are some major faults associated with Bitcoin wallet as well like there are no reward points for any number purchase while a credit/debit card offers a number of benefit schemes. The biggest disadvantage of a crypto wallet is that it is not being readily accepted everywhere as of now and there is a less know-how of the operations among users as well.
The usage of Bitcoin wallet or credit/debit card solely depends on the travel plan and what performs better in the market remains up to the users and the region in which they travel. There are still many countries around the world which are yet to accept cryptocurrency in their payment systems.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]