Given the increasing popularity of cryptocurrencies, it is no surprise that digital currencies are finding their way into more and more areas of life, including travel. More and more travelers and companies are using cryptocurrencies for travel payments. This technology offers several advantages as digital currency transforms the travel experience.
Tourists ride a longtail boat past Wat Arun temple along the Chao Praya River in Bangkok in December … [+]
How crypto-based payments work
Today’s technology allows one to self-manage their digital assets, conduct more secure transactions, and avoid costly currency conversion fees.
A developing trend is to use crypto-backed payment cards instead of the typical banking system for international transactions. Customers fund purchases and transfers using a supported cryptocurrency instead of converting their home currency to the local currency.
WeFi is a fintech platform at the heart of this emerging industry. It provides spending accounts to individuals and businesses. Customers can pay with cryptocurrencies using virtual and physical Visa debit cards with high payment limits.
It is possible to connect personal digital wallets to keep cold storage or create a WeFi wallet for instant transaction processing. The platform engine supports multiple crypto tokens. Users can also exchange for the in-house native token WeFi (WFI). The second option can result in cheaper fees and rewards, ensuring sufficient liquidity to complete transactions at a low cost.
Using cryptocurrency for travel
In crypto-friendly…
