How does the travel industry get influenced by Bitcoin?

Introduction

It is almost impossible to escape from news about the most significant decentralized electronic currency, Bitcoins. It has been dominating headlines for many days, and its price fluctuation has been keeping people on their toes. More than ever, people are more interested in this cryptocurrency and are looking into its price surging with keen eyes. 

This growing popularity of cryptocurrency has even been an invitation to many different kinds of markets to accept Bitcoins as payment. One of the biggest industries that have started to show acceptance is the travel industry. 

Travel with Bitcoins

To accommodate the transformative power of the amazing blockchain technology the major players of the travel industry are trying to adjust to it. There is always this drive to integrate new technologies that can help the growing process of the travel and tourism industry. 

Experts have realized that blockchain technology and cryptocurrencies are untapped resources that they can use to make the traveler’s life more comfortable. With greater comfort, more people would want to travel. 

The fact that cryptocurrencies and blockchain technology can reduce the cost of traveling, more people can contribute to the global GDP of the tourism industry by choosing to go on vacations. Even eliminating fraud risks, costly transaction fees, and high ATM withdrawal fees that come with international credit card use can all be bid farewell with Bitcoins encouraging tourists to spend more money while traveling. 

This unique technology can also make the work of an enormous workforce in this industry much more seamless. The most significant way this can be done is by connecting the tourist or travelers directly to the travel companies by eliminating the third parties. These third parties often drive up the prices and cause problems like overbooking, delays, etc. Such issues can be eliminated with the power of blockchain technology and the use of Bitcoins as payment. 

Most popular travel Companies that are Accepting Bitcoins

If you want to use cryptocurrencies for your next vacation plan, some of the biggest companies accept Bitcoins as a form of payment. These companies like CheapAir, Destinia, A Bit Sky among others, help you pay for hotels, flight tickets and even swap cryptocurrencies for local currencies without any hassle. 

To prove cryptocurrencies can be used while traveling and the ease it can bring to people’s life, cryptocurrency enthusiasts have journeyed through 10 countries, documenting their adventures on their vlog. You can read many stories about such cryptocurrency enthusiasts showing how the travel industry can benefit from Bitcoins and other forms of decentralized currency. However, one thing must be mentioned- if you want to use Bitcoins while traveling, it is better that you do thorough research about which businesses will be accepting it as a form of currency in the places you will be traveling. Keep in mind that many countries have banned Bitcoins while some places are still in the grey area. 

Some more advantages of cryptocurrency in the travel industry

We have already talked about how cryptocurrencies can solve overbooking problems and reduce the cost by eliminating third parties. However, this is just the tip of the iceberg as there are many more advantages that have to be considered. Some other significantly positive changes it can bring to the travel industry are as follows: 

• It can reduce the number of fraud cases. 
• It can eliminate problems of refunds or chargebacks that are rampant in the industry. 
• Identity theft issues can be fixed, especially on websites that demand identity cards of tourists for authentication for travel. 
• It can create better loyalty programs for frequent customers, which will be cost-effective for travelers and lucrative for travel companies. 

Conclusion

Want to use and understand Bitcoins for your following travel plans? Try out websites like Bitcoin Union App as a gateway to the exciting world of cryptocurrencies. Please read all the fine print regarding Bitcoins and cryptocurrencies before you start using them. Please take into consideration all the advantages and disadvantages associated with Bitcoins, especially their volatile nature.