5 Tips for Using Bitcoin to Book Luxury Vacations
At times over the past three years, Bitcoin has exploded in price. For the most astute crypto investors who were able to buy coins at great prices, the explosion in price allowed them to gain the kind of wealth they never imagine would come their way.
If you were one of the lucky ones, you have a unique opportunity to use your newfound wealth by spoiling yourself. Of course, you can save your gains or continue investing in Bitcoin or other cryptos.
However, this might be the best opportunity you will ever have to experience new things. Maybe, this is the right time to use your Bitcoin to pay for a luxury vacation.
In case you didn’t realize it, you can pay for an entire vacation without using credit cards or fiat currencies. You can use Bitcoin. Here are five tips you can use to help you successfully plan and pay for your luxury vacation with Bitcoin.
1. Find the Right Online Travel Merchant
The idea of using Bicoin as a means of exchange between customers and merchants is still in its infancy. The lack of demand for accepting Bitcoin is the primary reason many of the top online travel merchants have not yet set up a viable crypto payment platform.
With that said, there are a few solid travel merchants that are more than happy to accept your Bitcoin payment. The list includes, but is not limited to, Travala, Bitcoin Travel, BTCtrip.com, airBaltic, Virgin Galactic, and Cheapair. Your task is to find the one that offers the travel services you seek.
2. Check Pricing and Transaction Fees
Despite the fact you have money now, it’s still a good idea for you to shop around for the best travel prices possible. After all, your luxury vacation is going to be expensive enough without you having to pay a premium.
Like all other online travel merchants, merchants that accept Bitcoin have to compete for customers. That’s your opportunity to get good deals.
3. Timing is Everything
If you are patient and willing to speculate, you might be able to pay for your entire luxury vacation without spending a dime of what you have now. How? You can start by buying your Bitcoin as soon as you see the valuation dip.
For example, if you are traveling from India to the UK you’ll want to look for the Bitcoin price in India to drop before you buy it. With any luck and patience, the price of Bitcoin might rise enough to give you a nice profit. Your profit is what you can use to pay for your vacation.
4. The Travel Merchant Secret
While some travel merchants are happy to accept your Bitcoin payment, it doesn’t mean they are interested in speculating with Bitcoin.
To avoid volatility issues, Bitcoin travel merchants use payment platform services that convert Bitcoin to fiat currencies before the merchant actually receives their payments.
5. The Gift Card Option
If you are committed to using Bitcoin to pay for your luxury vacation, you might be better off purchasing an all-purpose gift card. You can pay for the card with Bitcoin and book your vacation with the gift card.