Blockchain critics often argue that Bitcoin cannot be used in real life. However, this is not at all the case. According to the Simple Flying portal, travelers are paying with might and main with cryptocurrency to purchase air tickets.
For example , the British charter airline PrivateFly said that 19 percent of its annual revenue came from the sale of tickets in bitcoins. The company registered increased activity in the sector last month as the price of Bitcoin has risen significantly over the past few months. This means that the owners of the cryptocurrency decided to spend part of the new profit on themselves.
Recall that it was possible to use cryptocurrency to pay for goods and services on a narrower scale for a long time. For example, in October 2019, bitcoins could buy wine , a lake house in France, cosmetics and even shoes. The list of possible purchases included air tickets to Riga – however, then it was about Baltic Air.
We believe that the number of options for spending cryptocurrencies will grow significantly in the near future. In particular, this will be facilitated by the statement of the Tesla management, which plans to accept BTC as payment for its cars.
Obviously, in this case, the company’s competitors will also take the option into service. And then it will come to less global purchases.
However, it is important to note here that spending cryptocurrency on products or something similar is not entirely profitable. All the fault of the commissions, which have grown significantly over the past months. For example, yesterday the average cost of sending BTC was the equivalent of $ 22.7. Naturally, it is not entirely advisable to lay out a similar amount of funds for paying something cheaper than at least $ 100.
What do they buy for cryptocurrency
PrivateFly is no stranger to the cryptocurrency market. As representatives CryptoSlate , she began offering digital main asset as a payment option back in 2014. And it happened with the flight from Brussels to Nice.
Since then, the service has only become more popular. According to Simple Flying, 12 percent of all PrivateFly flights in December 2020 were paid with bitcoin. In January of this year, sales increased: now 13 percent of all tickets were sold for cryptocurrency. For comparison: previously, the asset accounted for only 2 percent of ticket purchases.
This means that the owners of the digital asset decided to fix some of the profits against the background of the growth of the main digital asset and spend it on themselves. And this tactic sounds absolutely logical – especially considering the current Bitcoin jump above 52 thousand dollars.
The airline has also taken into account the volatility of Bitcoin – that is, its sharp leaps in value – as part of a unique membership program. This was announced by the CEO of PrivateFly, Adam Twedell, with the submission of which the company’s clients were able to buy membership in the ticket purchasing program for BTC. This allows travelers to deposit their bitcoins in an account and receive fiat value payment at the time of booking.
That is, the client simply replenishes the account in BTC, and the coins are withdrawn from him at the time of booking in the equivalent of the dollar cost of the ticket. And it really seems like a convenient solution.
As you can see, the adoption of BTC is growing noticeably against the background of the growth in the price and popularity of the main digital asset. In addition, cryptocurrency turns out to be quite suitable for buying real services and goods – whatever critics of Bitcoin may say. And as we have already noted, taking into account the innovation of Tesla, which has yet to see the world, more and more people will see cryptocurrency as an excellent means of payment and become more actively involved with the blockchain asset.