All you need to know about Cryptotourism
The value of cryptocurrencies has skyrocketed in recent years. They have transformed from a highly speculative asset class to one seeing widespread institutional and retail adoption. Cryptocurrencies are attracting attention from a wide variety of users, not only retail investors. Besides their massive use in trading through reputed platforms where Bitcoin Trading Works they are already being used in various sectors, including the travel industry. The travel industry has, like many others, come around to the idea of digital assets. It has spawned an entirely new sector of the industry.
What exactly is cryptotourism?
As a whole, there are two types of crypto tourism. Let’s talk about vacation packages and sightseeing trips that accept cryptocurrencies as payment. This is hardly surprising given the widespread adoption of cryptocurrency payments across other sectors. There is a fast-expanding list of crypto-friendly firms and brands, from luxury fashion labels like Gucci and Balenciaga to automakers like Tesla.
Numerous transportation companies, including airlines, travel agencies, and aggregators, have started to accept cryptocurrency as payment. Emirates Airline, the largest airline in the United Arab Emirates, recently announced that it would begin receiving bitcoin payments. A Latvian airline company known as Air Baltic has also been accepting bitcoin for quite some time. The travel booking service Travala.com accepts more than 50 different cryptocurrencies, and others like Cheapair.com do as well. Dogecoin is now accepted as a form of payment at some tour and activity booking platforms, such as GetYourGuide.
Contrast the benefits of cryptotourism
Those interested in cryptocurrency, making connections with like-minded people, and taking a break will find a crypto tour ideal. To top it all off, it’s ideal for those who plan on using cryptocurrency to fund their trip. You can make purchases without worrying about foreign exchange rates or losing cash. However, because of its specialized nature, the number of travel partners that accept cryptocurrency payments is extremely low. Moreover, the event organizers of such crypto excursions will frequently exploit these occasions to promote ICOs and other marketing endeavors.
How Popular Is Cryptotourism?
The crypto-rich and -famous seem to be the obvious target customers for such tours. Despite this, many average people interested in cryptocurrencies may try out crypto tourism or even pay for their vacations using bitcoin. In addition to the typical sightseeing and partying, crypto tours and cruises feature educational events, including conferences, exhibitions, and panel discussions. Speakers at these events include featured crypto and blockchain industry veterans widely regarded as thought leaders. John McAfee, an advocate of crypto tokens, CoinsBank co-founder Vitaly Andrusevich, and a prominent investor and bitcoin cash backer Roger Ver were among those who attended the 2019 CoinsBank cruise.
Some crypto tours have been planned in the past to boost awareness of an upcoming ICO (ICO). Conferences, presentations, and market speeches by promoters, industry experts, and the like were part of the events, catering to people planning to make sizable investments in bitcoin offers.
The Blockchain and Cryptotourism: What Is It?
Blockchain has many applications in the tourism industry. But, the fact is, there are so many words like blockchain tourism and that actually doesn’t mean anything. The blockchain database sees heavy application in the cryptocurrency market. In the blockchain, information is arranged in blocks and linked together. Blockchain technology affects the tourist sector because it supports cryptocurrencies and makes managing several different vendors and platforms more accessible. There was a lot of optimism about the potential of blockchain technology and the multitude of crypto tourism alternatives before the epidemic, even though not all businesses and initiatives were successful. There has been a recent uptick in the number of initiatives designed to bring together people with shared interests and promote certain businesses through crypto travel. To counteract this, if and when countries begin to invite tourists back actively, cryptocurrency may still be a good option for vacation spending.
Although this is a great opportunity to meet other crypto community members, everyone should be cautious before making any significant moves in this sector.
Prior to the COVID-19 epidemic, the crypto tourism industry saw a lot of growth, with many new events and services being introduced. The purpose of cryptocurrency cruises is to promote various cryptocurrencies and provide a networking environment for those with similar interests. In addition to providing investment options, these programs aid in the expansion of the crypto community’s existing infrastructure. Therefore, many opportunities are there for investors here to make substantial financial choices. Many nations are reopening their borders, and tourism is picking back up, all of which bodes well for the future widespread adoption and use of cryptocurrencies.
Alexia is the author at Research Snipers covering all technology news including Google, Apple, Android, Xiaomi, Huawei, Samsung News, and More.