Travelers who use encoded currency spend more than the weakness of ordinary travelers who use FIAT money, according to a joint report of Binance Pay and Crypto Travel Platform Travala shared with Cointelegraph.
The encryption reservations on Travala reached $ 80 million in 2024, an increase of $ 45 million in the previous year. Travelers outperform the encryption cryptocurrencies, where the average reservation value is $ 1,211 per transaction, more than 2.5 times from FIAT users who spend $ 469.
In addition, the report said that encryption users were three times more valuable throughout their lives due to long stay and higher repetition reservations, as travelers are likely to do 57 % by 57 % to make a frequent hotel purchase.
Juan Outero, CEO of Travala, these travel preferences to the flexible nature of Web3 jobs:
“Many also work in the digital assets industry or have flexible and flexible lifestyles, making them more vulnerable to travel frequently and staying in one place for a longer period while searching for destinations that support unanimous global payments.”
Encry -based transactions have become more common in the travel sector and beyond. The airlines that merged digital currencies into their reservation systems witnessed a 40 % boost in reservations, as travel and hospitality represented 14 % of all encryption transactions in 2024, according to a report on February 21. Triple-A.
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Jonathan Lim, global president of Binance Pay, told Cointelegraph, the main benefit of using Crypto to travel is its global useless. He added: “Travelers can skip currency lines, avoid foreign transactions fees, and pay the assets immediately using the assets they already keep.”
There are an increasing number of encryption users that also pay the increase in travelers using Crypto to pay the price of flights. Triple-A’s a report He explains that the ownership of the cryptocurrency has a complex annual growth rate of 99 %, which greatly exceeds the growth of traditional payment methods. Between the encryption owners, 65 % express interest in using payments.
Travala was founded in 2017, among the most popular original travel platforms, which enables users to pay the price of services such as flights and residencies in the hotel and tours with 141 different cryptocurrencies, including Bitcoin (BTC) And USDC (USDCThrough Binance wage.
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Cover payment covers more and more retail sales industries
The first Bitcoin treatment occurred in the real world -10000 BTC for Pizza-15 years ago today, on May 22, 2010, is now celebrated on Bitcoin. Since then, encryption payments have expanded to advanced retail trade, luxury goods and recently, fast food.
The first retail company was accepting the encoded currency payments, mainly targeting for high -income consumers. In 2021, the fashion brand Philip Blin became one of the pioneers of accepting encryption, followed GucciLuxury watches makers Frank Muller and NurganAnd also upscale Car agents And manufacturers.
With the expansion of the base of the encryption holder, more retailers began to accept digital currencies for daily transactions. On May 16, the American fast food port Steak does not vibrate Bitcoin began to accept as a payment.
But even with Lightning Network Implementation, shake client It revealed that a $ 5 burger may cost more than $ 8 with network fees and take more than 20 minutes to confirm payment.
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With Binance salaries, payments are confirmed within seconds. I told LIM COINTELEGRAPH that “Binance Pay works as a pushing solution with closed solutions within the ecosystem.”
However, most encryption travel payments on Travala are made using Stablecoins such as UTETHER’s Usdt (USDT) And USDC from CRICLE (USDC). Binance payment transactions are eventually transferred to FIAT at the sale point by the merchant or the payment partner based on a pre -specified exchange rate.
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