More People Are Using Bitcoin for Travel Purposes.
08 Sep 2021, 08:00
More People Are Using Bitcoin for Travel Purposes
As of late, bitcoin and cryptocurrency are being used all the time to pay for travel expenses such as flights and hotel stays, but is paying for these items with crypto a good idea?
Travel and Bitcoin: A Solid Match?For many, the idea of using bitcoin and its altcoin cousins to pay for goods and services is a dream come true and the realization of a strong financial vision. These currencies were initially designed to take over and push fiat, checks and credit cards to the side. However, when it was discovered just how volatile they were going to be, many businesses ultimately said “no” and turned their backs on the assets, hoping to never have to deal with them again.
To an extent, we cannot really blame them considering the businesses in question have to transfer the digital currency into fiat. Granted they don’t do it in time, the crypto can lose value and the amount of profit the business has earned shrivels up. Thus, until bitcoin and its altcoin friends get their volatility under control, we can’t expect to see crypto payments becoming mainstream.