CheapAir added support for more cryptocurrencies on May 22nd, as it aims to offer digital currency lovers a variety of payment options for flight and hotel bookings. The online travel agency is now accepting Bitcoin Cash (BCH), Dash (DASH) and Litecoin (LTC) payments for its offers.
CheapAir expands cryptocurrency support
The three additions will bolster support for the travel agency’s cryptocurrency community that has grown over the years.
In 2013 CheapAir became the first travel agency to accept Bitcoin (BTC) as a payment option for booking hotel rooms and Amtrak train seats. The company later backed Dogecoin (DOGE) and Litecoin (LTC) as Bitcoin sales soared to $ 1.5 million.
By supporting cryptocurrency payments, CheapAir has cemented its reputation with the launch of the new payment option. The uptake of new cryptocurrencies was triggered by growing customer demand for such payment options. The travel agent also added the new digital currencies to address the shortcomings of the current currencies and the challenges that have arisen in using Bitcoin.
The aim of adding support for other cryptocurrencies is to address Bitcoin’s shortcomings. Network congestion and higher transaction fees have resulted in most people avoiding the popular cryptocurrency, with the focus now shifting to bitcoin cash and litecoin.
“Our cryptocurrency customers tend to be very vocal about what they want, which we value. Over the past six months we’ve seen a huge increase in the number of customers requesting alternate currencies, so we’ve worked hard to incorporate the three most requested, ”said Jeff Klee, CEO of CheapAir.
Cryptocurrencies Payments Spread Payment
Cryptocurrency bookings are also supported by the agency’s Price Drop Payback, a price guarantee that gives customers up to $ 100 in travel credit in the event a flight price drops.
Accepting payments in cryptocurrencies on behalf of hotel providers and airlines had some challenges given the constant price fluctuations. However, CheapAir insists that it has resolved a number of the issues and should continue to offer assistance for the foreseeable future.
Although CheapAir was the first to accept cryptocurrency payments for hotel and flight bookings, it is no longer the only company to offer such services. The integration of such payments into the mainstream sector has gained momentum in the recent past. ABitSky, BTCTrip, and Destinia are examples of other travel sites that allow people to buy flights using Bitcoin.
Since Madrid-based Destinia began accepting bitcoin payments, the agency claims it has seen an increase in such payments, unlike credit card payments.
Adoption from cryptocurrency traders
If cryptocurrencies are to compete with fiat currencies in the future, real acceptance by traders is required. Very few merchants accept such payments, and those that do have no significant market share in their respective business areas.
Cryptocurrency trader adoption is still lagging behind despite Bitcoin’s meteoric rise to become one of the most sought-after investments. Accelerated adoption has been made difficult by the fact that cryptocurrencies are incredibly volatile, which affects their value, unlike relatively stable fiat currencies.
Traders shy away from making such a payment because they are concerned that they could hurt their returns due to their constant fluctuations in value. Regulatory concerns have also had a catastrophic impact on the adoption of cryptocurrencies as there are areas and countries where trading in cryptocurrencies is banned. For example, banks and other financial institutions in India are prohibited from supporting payments in cryptocurrencies.
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