Coinswapz Travel – a new kind of travel company based in the United Arab Emirates – is making headlines after it announced that travel hounds and general customers can utilize digital currencies to book their trips and take care of other vacation-related expenses. Coinswapz Will Accept Crypto Payments The move is pushing the goals of bitcoin and its digital counterparts closer to being achieved. What many people likely forget is that while bitcoin and many of its crypto cousins have taken on either speculative or even hedge-like statuses in recent years, many of them were initially designed to serve as payment tools. They were built to push checks, credit cards, and fiat currencies to the side, but this has been a relatively slow journey given the volatility
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Nick Marinoff considers the following as important: Bitcoin News, Coinswapz, crypto payments, dubai, News, Travel
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Coinswapz Travel – a new kind of travel company based in the United Arab Emirates – is making headlines after it announced that travel hounds and general customers can utilize digital currencies to book their trips and take care of other vacation-related expenses.
Coinswapz Will Accept Crypto Payments
The move is pushing the goals of bitcoin and its digital counterparts closer to being achieved. What many people likely forget is that while bitcoin and many of its crypto cousins have taken on either speculative or even hedge-like statuses in recent years, many of them were initially designed to serve as payment tools. They were built to push checks, credit cards, and fiat currencies to the side, but this has been a relatively slow journey given the volatility that continues to drag them down.
It is extremely hard to understand when bitcoin and its crypto family will go up or down when it comes to their prices. Many stores and companies have been reluctant to say “yes” when it comes to accepting crypto payments for this reason, and to a degree, we can’t blame them.
Consider the following scenario: someone walks into a store and buys $50 worth of merchandise with bitcoin. For one reason or another, the store doesn’t trade the BTC into fiat right away and about 24 hours go by. From there, the price of BTC goes down and that $50 becomes $40. The customer gets to keep everything he or she bought, but the store loses money in the end. Is this a fair situation? Not everyone thinks so.
That’s what makes enterprises like Coinswapz so important. They understand the initial purposes of bitcoin and digital currencies and are trying to transform them into usable tools that everyday people can benefit from.
While right now, customers are primarily limited to using the company’s native digital token, Coinswapz has hinted that it may be open to accepting other cryptocurrencies as payment methods in the future. The enterprise assures customers that using digital assets to pay for trips is not only hassle-free and easier to do when compared with using credit cards of fiat currencies, but that it’s also safer.
What Can You Buy?
Among the things people can pay for via crypto are hotel stays, flights, visa fees, and transportation costs. In addition, they can also pay for gift cards for both hotels and Airbnb locations with crypto.
The company is in the heart of Dubai, which over the past several years, has proven to be a leading hub for all things digital currency and blockchain-related. Last December, the city became one of the first to introduce the world to a new set of crypto regulations as a means of making the industry more legitimate and mainstream and attracting further businesses.