Governments around the world imposed restrictions to contain the spread of the virus. As a result, the demand for international air travel all but disappeared in many countries. Moreover, the coronavirus pandemic coincided with the Lunar New Year. Usually, at that time millions of people spend time with their relatives. People travel to home towns across China. However, this year coronavirus pandemic altered the situation. Hopefully, slowly but steadily, the demand will return as governments started to lift restrictions. One crypto company benefited from the situation.
Let’s have a look at the crypto travel booking website Travala.com. Interestingly, it is a leading blockchain-based travel booking platform. The platform offers more than 2,000,000 properties around the world.
According to Travala.com, 60% of the bookings made through the platform in May were paid in cryptocurrency. Moreover, Bitcoin accounted for 21% of all crypto transactions. Also, the firm’s AVA token accounted for 16%. Furthermore, people also used crypto assets.
Interestingly, the number of crypto transactions increased on the platform. Moreover, people are willing to use crypto when it comes to paying for various goods and services.
Last month only 40% of customers decided to pay by credit cards or PayPal.
Crypto travel booking website and new opportunities
Moreover, in May the crypto trading website Travala.com merged with TravelByBit. Consequently, Travala.com will be able to expand its features. For instance, it will be easier to pay for travel accommodations with crypto.
This is not the end of the story, as last year Travala.com partnered with Booking.com. It is possible to book any accommodation from Booking.com by using the platform.
Based on the information provided by the crypto travel booking website, Travala.com the total number of nights booked in May rose by 45.8% compared with the previous month. Also, its monthly revenue increased by 205% in May in comparison to April.