INSUBCONTINENT EXCLUSIVE:
Travelers using cryptocurrency for booking arrangements spend more than twice as much as regular travelers using fiat money, according to a
joint report from Binance Pay and crypto travel platform Travala shared with Cointelegraph.Crypto-based bookings on Travala reached $80
million in 2024, up from $45 million the year before
than fiat users who spend $469.Additionally, the report said crypto users were three times more valuable over their lifetime due to longer
stays and higher repeat bookings, with crypto travelers 57% more likely to make a repeat hotel purchase.Source: Binance Pay, TravalaJuan
or have flexible, remote work lifestyles, which makes them more likely to travel frequently and stay in one place for longer while seeking
Airlines that have integrated digital currencies into their booking systems have seen a 40% boost in bookings, with travel and hospitality
representing 14% of all crypto transactions in 2024, according to a Feb
travel is its borderless, global utility, Jonathan Lim, the global head of Binance Pay, told Cointelegraph
growing number of crypto users also drives the increase in travelers using crypto to pay for trips
traditional payment methods
Among crypto owners, 65% express interest in using it for payments.Founded in 2017, Travala is among the most popular crypto-native travel
platforms, which enables users to pay for services like flights, hotel stays and tours with 141 different cryptocurrencies, including
Since then, crypto payments have expanded into high-end retail, luxury goods and more recently, fast food.First real-world purchase using
BTC Source: bitcointalk.orgThe first retail businesses to accept cryptocurrency payments were primarily targeted at high-income consumers
In 2021, fashion brand Philipp Plein became one of the pioneers in accepting crypto, followed by Gucci, luxury watchmakers Franck Muller and
Norgain, as well as high-end car dealerships and manufacturers.As the crypto holder base expands, more retailers are beginning to accept
digital currencies for everyday transactions
Binance Pay transactions are ultimately converted into fiat at the point of sale by the merchant or payment partner based on a predetermined
exchange rate.Magazine: Crypto is used for payments in Georgia, not to get rich: Tbilisi Crypto City Guide
