An Introduction to Crypto Tourism
As investments in cryptocurrencies continue to rise, they’re being accepted by several industries worldwide; including travel companies. The concept of crypto tourism gained traction in 2017, but during the COVID-19 lockdowns, the crypto tourism industry came to a sudden halt.
Today, however, the scenario is gradually transforming as travel has resumed globally. Travel companies are now on the lookout for interesting and creative ways to encourage tourism. Many experts believe that the travel industry can recover at a dramatic pace if they start accepting digital currencies.
So, What’s Crypto Tourism?
Crypto tourism refers to the form of tourism entertained by cryptocurrency enthusiasts. These tours offer crypto training and educational courses as a part of the tour or accept digital payments for packaged traveling tours.
Blockchain technology is an integral part of the crypto market. It’s gradually transforming the shape of the global tourism industry. It provides the travel industry, reliable and secure methods of payments and helps the event organizers effectively manage multiple crypto platforms and vendors. Since blockchain offers increased transparency and security, it helps improve the level of trust among participants. It also allows seamless storage and data transaction of the tourists’ information among hotels, travel agencies, and flight companies.
To encourage tourism and to increase their financial profitability, several travel agencies worldwide launched travel programs targeting blockchain and cryptocurrency enthusiasts during 2018 and 2019.
For instance, CoinsBank, a Scotland-based company that offers crypto wallets held four Blockchain cruises before the global pandemic.
Other examples of crypto tourism include travelers who use cryptocurrency to pay for their holiday vacations. Many travel companies in New Zealand and Queensland leveraged digital currencies to offer exciting travel opportunities and programs to crypto enthusiasts allowing them to make payments via digital coins.
Several other countries such as The Bahamas, Grenada, and Cyprus also allow their tourists to pay with digital currencies. In fact, The Bahamas is one of the first few countries that launched its digital currency, “Sand Dollar.”
Target Clients of Crypto Tourism Programs
Travel companies that offer crypto tourism programs generally tend to target the individuals who have large crypto savings in their digital wallets.
In addition to the regular tourism perks, crypto tours also include conferences on cryptotrading, cryptocurrency project exhibitions, and panel meetings.
They also invite experienced crypto investors and industry stalwarts to speak about their journey and experiences.
In the 2019 cruise trip organized by CoinsBank, they hosted a reputable Bitcoin cash supporter Roger Ver, the cofounder of CoinsBank, Vitaly Andrusevich, and famous crypto token advocate, John McAfee.
As more countries are resuming tourism, American’s are ready to use the cryptocurrency for tourism once again. According to a report, 22% of the respondents stated that they’re planning to use cryptocurrency for their traveling in the 2nd half of 2021.
Advantages of Crypto Tourism
Crypto tourism offers a different way for tourists to pay for their traveling trip and help the neophytes in the cryptospace to learn about the currency during their vacations.
During a crypto tour, you can pay the airfare, hotel bills, and meals with cryptocurrency.
Understandably the number of people participating in crypto tourism is quite limited. However, experts believe that blockchain technology will dominate the traveling industry in the coming years.
Risks Involved in Crypto Tourism
The future of cryptocurrency is highly unpredictable because of the unregulated operations. Many people think that the sole purpose of these tours is to promote ICOs (Initial Coin Offerings) and marketing.
Besides, the market is also small as most people don’t use digital currency.
The Final Word
‘’Crypto tourism’’ gained significant hype worldwide in 2019, however, all the crypto tourism programs weren't successful. These programs offer an amazing opportunity to cryptocurrency enthusiasts to get together with like-minded individuals and learn about the different trends in the market.
While you can leverage these programs to join the crypto community, always remember that investing in digital currency and coins is extremely risky.
Need More Information?
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