According to a joint report by Benance Pay and Crypto Travel platform Travla, passengers using Cryptocurrency for booking arrangements spend more than double than regular passengers using Fiat Money.
Crypto-based booking on Travla reached $ 80 million in 2024, which was more than $ 45 million a year ago. Crypto passengers are also excluding their fiat counterparts, with an average booking price of $ 1,211 per transaction, Fiat is 2.5 times higher than users that spend $ 469.
Additionally, the report stated that the crypto users were three times more valuable in their lifetime due to long stay and high repetition booking in their lifetime, 57% more than the crypto passengers are likely to shop.
Travla CEO Juan Otero blamed these travel preferences for the flexible nature of web 3 jobs:
“Many people also work in the digital asset industry or are flexible, distant task lifestyle, which they often have more likely to travel and stay in a place, while they look for destinations that support spontaneous, global payments.”
Crypto-based transactions have become more common in and beyond the journey area. Airlines who have integrated digital currencies in their booking systems have promoted 40% in booking, representing 14% of all crypto transactions in 2024 with travel and hospitality, according to the 21 February report. triple A,
Connected: Crypto expenses will increase, but Fiat is not going anywhere: Merkario CEO
The main advantage of using Crypto for the trip explained its border, global utility, Jonathan Lim, Global Head of Benance Pay, Coinalample. He said, “Passengers can leave the currency exchange lines, avoid foreign transactions fees, and they can already pay immediately using those assets,” he said.
The increasing number of crypto users also increases the increase in passengers using crypto to pay for travels. Triple-e Report Shows that cryptocurrency ownership has an annual growth rate of 99%, which is far ahead of the development of traditional payment methods. Crypto expresses interest in using it for 65% payment, among owners.
Established in 2017, the Travla is one of the most popular crypto-country travel platforms, which enables users to pay for services such as flight, hotel stay and tours, including 141 different cryptocurrencies, including bitcoins (BTC) and USDC (USDC).
Connected: Bhutan started paying tourism crypto with Benns Pay and DK Bank
Crypto payment includes more and more retail industry
The first real-world bitcoin transaction-two pizza was 10,000 BTC-15 years ago on May 22, 2010, now remembered as Bitcoin Pizza Day. Since then, Crypto payment has expanded high end retail, luxury goods and recent, fast food.
The first retail businesses to accept cryptocurrency payments were mainly targeted on consumers with high -income. In 2021, fashion brand Philip Plain became one of the leading people in accepting Crypto, followed by Gucci, luxury watchmakers Frank Muller and Norgane, as well as high end car dealership and manufacturer.
As the crypto holder expands the base, more retail vendors are beginning to accept digital currencies for everyday transactions. On 16 May, American fast food outlet Steak’n Shake began to accept bitcoin as payment.
Still with Lightning Network Implementation, a stake’an shake Customer It turns out that $ 5 can spend more than $ 8 with a $ 5 network fee and take more than 20 minutes to confirm the payment.
Connected: Bitcoin Accepted on Fast Food Chain Stake ‘N Shek from 16 May
With begin salary, payment is confirmed within seconds. Lim told cointelegraph that “Binance pay binance operates as an offchain, closed-loop payment solution within the ecosystem.”
Nevertheless, most Crypto travel payments on Trawla are made using stabechoin such as USDT (USDT) of Tether and USDC (USDC) of Circle. Binance pay transactions eventually convert to Fiat at the point of sales by a merchant or payment partner depending on a predetermined exchange rate.
https://www.youtube.com/watch?v=Jeg7vspg2GY
magazine: Crypto is used for payment in Georgia, not to be rich: Tabilisi Crypto City Guide
