Cryptocurrency has been a hotly debated topic of discussion for several years now. This subject seems to be present in almost every talk, whether a business conversation or a chit-chat. Now that the cryptocurrency market is giving comprehensive coverage to nearly every field of life, aviation companies also took advantage of this great opportunity. The increased popularity of Bitcoin, particularly in the tourism business, has led airlines to accept cryptocurrency payments. Many airline companies accept cryptocurrencies such as Bitcoin, Litecoin, or XRP as a mode of payment. You can also buy Ethereum to pay online for such purposes.Because of tremendous increase of cryptocurrencies,airlines took a keen interest in the cryptocurrency market and accepting Crypto Payments.
Why Use Cryptocurrency to Pay?
Unlike cash in your wallet or bank account, cryptocurrency now has the potential to rise in value rapidly. A tenth of a Bitcoin could be used to pay for an economy ticket to Europe may today cover the $1,300 flight (assuming a BTC price of $13,000), but it may be worth much more in a year.
Advantages of using cryptocurrency for flights:
The most significant benefit of utilizing cryptocurrencies for tourists is avoiding foreign exchange expenses. If you’ve ever been overseas, you’re familiar with the scam: you have to convert your dollars for another currency, frequently at a high price or with an unfavorable conversion rate. Cryptocurrencies resolve many of these issues.
Bryan Routledge states, “A Bitcoin ATM might let you convert your dollars to Bitcoin at a gas station in Pennsylvania – and then convert it to euros in France.” He says that you may minimize or eliminate any fees, saving you money.
Here, we enlist some of the biggest and more well-known airline companies using and accepting cryptocurrencies.
In 2014, Latvian carrier airBaltic became the world’s first airline to accept Bitcoin as payment for fares. According to the corporation since launching the payment option seven years ago, the firm has completed over 1,000 Bitcoin transactions.
- LOT Polish Airlines:
Following in the footsteps of airBaltic, LOT Polish Airlines announced in 2015 that it would accept Bitcoin as a payment mechanism for flights. Despite the six years since its decision, LOT remains one of the only European airlines to accept cryptocurrencies as a payment method.
Destinia.com, a Spanish travel agency, has recently begun taking cryptocurrencies for payment. The company has added a new payment option via BitPay, one of the most well-known cryptocurrency-related payment processors. Destinia.com provides a diverse repertoire of over 190,000 hotels to its customers.
It is one of the few first online travel companies to accept Bitcoin payments in 2013. They have now taken one more step, shown progress, and announced that Litecoin, BCH, and Dash will be accepted as payment choices as well. Travelers will be able to pay for flights and lodgings using these cryptocurrencies.
- Virgin Galactic:
Richard Branson, a billionaire business entrepreneur, has announced that his futuristic commercial space transportation project, Virgin Galactic, would accept cryptocurrency. It will allow users to pay through cryptocurrencies such as Bitcoin, Ethereum, Litecoin and many more different cryptocurrencies.
- Peach Aviation:
Peach Aviation, a Japanese low-cost airline, decided to take Bitcoin in late 2017 for its inexpensive flights around North Asia.
Another aviation company that has lately announced to accept cryptocurrency as a mode of payment is Abitsky.com. This airline company provides flights across mainland Europe.
- Surf Air:
Tired of taking commercial flights? Try Surf Air. It is a private air travel club that charges a monthly subscription for unlimited flights. You can use Bitcoin to pay for your subscription.
This means you can fly in a private plane without paying private jet prices, and you can choose from a list of planned flight times where no more than seven other Surf Air members will join you if they book the same flight.
This site is one of the central blockchain-based travel booking systems globally and one of the top cryptocurrency-friendly travel websites. They accept cryptocurrencies, including Bitcoin, Ethereum, and Litecoin, and allow you to book your ticket and then arrange for house rental or hotel accommodations for your stay. You will be able to use Expedia to pay for your accommodations using Bitcoin through Travala.
It is a blockchain-based online travel booking platform that intends to disrupt the ever-expanding trillion-dollar travel industry by challenging the ecosystem’s monopoly and redistributing power to customers. XcelTrip lets travelers check in at over 800,000 hotels and book flights with over 400 airlines; they accept bitcoin, VERGE money, Litecoin, XcelToken Plus, Binance, and Ethereum.
There is no doubt that Bitcoin and other altcoins are becoming more popular payment options in a variety of businesses, including travel. The extent to which the advantages exceed the disadvantages is primarily determined by your particular tastes and the nature of your trip.