Increasing mainstream acceptance and use of cryptocurrencies has resulted in the rise of crypto tourism, a type of vacation. In fact, a recent study has revealed that 22% of Americans want to pay for their travel with crypto.
So, while this may be a relatively new trend, it’s one that’s gaining a lot of traction. This is only elevated by the feeling of community and shared interests that tend to come with the crypto currency.
With that being said, let’s explore this exciting new niche in further detail, revealing what crypto tourism is and what to expect from the trend over the coming years.
What is crypto tourism
Crypto tourism is a type of tourism that involves heading to destinations with a strong connection to blockchain technology and cryptocurrencies, as well as paying for your trip with cryptocurrency.
Your trip may incorporate seminars and lectures from prevalent cryptocurrency professionals. Plus, you may visit locations with a high level of crypto adoption, and engage in crypto-related activities, for example, investing, trading, or mining. Furthermore, you can explore locations where cryptocurrencies were popularized or created and attend blockchain conferences.
What can you expect on a crypto trip?
There are a number of different things you can do when going on a crypto tourism trip, depending on the destination you select and your personal interests. Here are some examples:
Buy Bitcoin and engage in crypto-related activities
Depending on your interests and skills, you can participate in a number of crypto-related activities, for example, buy Bitcoin or lesser-known coins, mine, trade, or invest.
You can also attend training sessions and workshops to find out more about these activities and how they work.
Explore the history of cryptocurrencies
You can visit places that have a strong connection with cryptocurrency, such as the University of Cyprus, where the first academic paper on Bitcoin was published or Satoshi Nakamoto’s alleged birthplace in Japan.
You can also visit the offices of early Bitcoin startups or the first-ever Bitcoin ATMs.
Attend Blockchain conferences
Many cities around the world host blockchain conferences and events that bring together industry experts, investors, and enthusiasts.
You can attend these events so that you find out more about the latest developments in the field and connect with others in the cryptocurrency community.
Visit crypto-friendly destinations
You can travel to countries with a high level of crypto adoption, such as Switzerland, Estonia, or Malta, and explore the local crypto scene.
You can visit crypto-related businesses, attend meetups and events, and connect with like-minded individuals.
The rise of crypto tourism
Now that you have a better understanding of what crypto tourism is, let’s explore some of the different reasons why this trend is thriving.
Increasing mainstream acceptance and use of cryptocurrencies
Over the past few years, cryptocurrencies like Bitcoin and Ethereum have gained widespread acceptance as a legitimate form of payment and investment. A lot of businesses, both online and offline, now accept cryptocurrencies as a form of payment, and some even offer discounts to customers who pay with digital currencies.
Furthermore, several major companies have invested in cryptocurrencies or accounted plans to accept them in the future. For instance, Tesla recently announced that it had invested $1.5 billion in Bitcoin and would accept cryptocurrency as a payment for its products. PayPal also announced it would allow users to buy, hold, and sell cryptocurrencies on its platform.
The increasing acceptance and use of cryptocurrencies has meant they are now more accessible, which in turn has created a growing demand for travel experiences that cater to crypto enthusiasts.
As more people adopt digital currencies, there is a greater desire to explore destinations that embrace this new technology and to engage with like-minded individuals who share a passion for it.
Sense of community
Crypto enthusiasts often feel a strong sense of camaraderie and shared interests, which can create a desire to connect with others who share their passion for digital currencies and blockchain technology.
By attending blockchain conferences or visiting crypto-friendly destinations, enthusiasts can meet other like-minded individuals and expand their networks. This sense of community can be especially important for those who may not have many opportunities to connect with others who share their interests in their home countries.
Moreover, the crypto community is often collaborative and supportive. People within the community may be willing to share knowledge, insights, and experiences, which can be invaluable for those who are new to the world of cryptocurrencies. Crypto tourism can offer a unique opportunity to learn from experts and connect with other enthusiasts in a supportive and collaborative environment.
Opportunity to learn and gain knowledge
Cryptocurrency is a rapidly-evolving and complex field, and there is a lot to learn about their underlying technology, investment potential, and practical uses.
By traveling to a destination with a strong crypto practice, you’ll get opportunities to learn from experts and expand your knowledge. This can be especially valuable for those who are new to the world of cryptocurrencies or for those who want to deepen their understanding of the subject.
Furthermore, crypto tourism provides unique opportunities to gain practical experiences with blockchain technology. For instance, some crypto tours may offer opportunities to participate in crypto-related activities like mining, trading, or investing. This hands-on experience can provide valuable insights and skills that cannot be gained through reading or research alone.
Potential for investment
Cryptocurrencies like Bitcoin and Ethereum are highly volatile, and their prices can fluctuate rapidly. Many investors see cryptocurrencies as an attractive investment opportunity, and they may be interested in exploring destinations with a strong crypto presence to stay up to date with the latest developments in the field.
Crypto tourism can provide opportunities to meet with experts and gain insights into the latest trends and investment opportunities in the field. This can be especially valuable for investors who are looking to diversify their portfolios and explore new investment opportunities.
Furthermore, some crypto tourism destinations may offer opportunities to invest directly in local crypto projects or startups. For example, some destinations may have crypto incubators or accelerators that offer funding and support to new crypto projects. By visiting these destinations, investors may be able to connect with promising startups and potentially invest in their projects.
Novelty and adventure
Last but not least, the novelty and adventure associated with crypto tourism is another factor driving its rise. Many crypto enthusiasts are attracted to the idea of exploring new destinations and experiencing emerging technologies firsthand.
Crypto tourism destinations may offer unique experiences that cannot be found elsewhere, such as visiting a Bitcoin mine or attending a blockchain conference in a foreign country. This sense of adventure and excitement can be particularly appealing to younger generations who are interested in exploring new technologies and cultures.
Furthermore, crypto tourism destinations may have a distinct culture and community that can offer a unique experience. For example, destinations like Malta or Singapore are known for their crypto-friendly policies and communities. By visiting these destinations, crypto enthusiasts can engage with locals and learn more about the local crypto culture and community.
Can anyone go on a crypto trip?
If you don’t have a lot of experience in the world of cryptocurrency, you may be wondering whether or not you can go on one of these trips. However, fear not! Anyone can go on a crypto tourism trip. All you need is an interest in blockchain technology and cryptocurrencies.
However, it’s vital to note that some crypto tourism activities, such as attending blockchain conferences or investing in local crypto projects, may require a certain level of knowledge. Therefore, it’s important to do research and understand the risks and potential benefits associated with any crypto tourism activity before embarking on a trip.
Additionally, some destinations may have specific entry requirements or restrictions for travelers, such as visa requirements or restrictions on the use of cryptocurrencies. Therefore, it’s important to check any travel advisories or guidelines before planning a crypto tourism trip.
Jump on the crypto tourism boom
So there you have it: an insight into the crypto tourism boom! This is certainly a segment of the travel market that’s flourishing at the moment, and it shows no signs of slowing down!
Kerry Leigh Harrison has over 11+ years of experience as a content writer. She graduated from university with a First Class Hons Degree in Multimedia Journalism. In her spare time, she enjoys attending sports and music events.