The gross acceptance of digital currencies has witnessed digital assets making an exclusive entry into varied industries and sectors. As such, cryptos are quickly receiving acceptance in the travel sector also. Their acceptance in this sector continued to increase until the coronavirus pandemic brought about a type of restrictions on tourism and trouble in 2019. However, since this pandemic has started to fade, a resumption in travel and nations began and now people have started to identify the importance of crypto tourism.
It is an unusual kind of tourism that is inclined to a pattern of travel that caters to investors and crypto enthusiasts. It also has classes or lectures about digital currency.
The Idea Of Crypto Tourism
Despite the fluctuations of the sector, there is a greatly increased record in the cryptocurrency and blockchain industries which has aroused the concern of investors. There is an increase in the number of people who are accepting the use of digital coins and using crypto exchanges, for instance, Red Dot. Hence, travelers started to have a raised desire to use digital currencies for their trips once there is a rehabilitation of normality.
Crypto tourism evolved when several tourism entities started to arrange some travel programs for digital currencies and blockchain lovers. Traveling programs such as luxurious cruises are providing awesome service to digital currency holders.
Cryptocurrency tourism is termed as a form of tour service that is rigorously rendered to crypto enthusiasts. It often involves offering organized travel tours that can either be paid for with cryptocurrency or provide classes or lectures about crypto as part of the traveling.
The aims of crypto tourism are particularly the crypto-rich and popular. However, regular people who are interested in digital currency can go on crypto cruises and make their payments with crypto during their holidays. In most scenarios, digital coins like BTC (Bitcoin) can be employed to pay for matters like meals, hotels, and airline tickets at the time of adventures.
Cryptocurrency Tourism Is For Whom?
As stated earlier, the target user base for the crypto tours is those who are known as crypto-rich and famous. Yet ample regular folks who are interested in digital currency may risk a crypto tour or use it to do payments for their holidays.
A few crypto tours were arranged in time past for particular objectives such as the promotion of a potential ICO (initial coin offering). The program features spaces like presentations, conferences, and market speeches by the industry leaders, promoters, and likes. Hence, this implies that crypto tourism is also used by channels that are seeking to lead events like ICOs.
Examples Of Crypto Tourism
An instance of crypto tours that took place in the past is the “Coinsbank blockchain cruise” that occurred in 2017. The event was educative and entertaining, hence recording a good amount of participants across 19 nations.
At this cruise, issues impacting blockchain technology and cryptocurrency were discussed. The cruise highlighted presentations from many industry chiefs from entities like Bitcoin.com, Ledger, Unocoin, etc.
Businesses in New Zealand also made provisions for this type of activity. They were more like a travel program where tourists could use digital coins for their adventures.
Advantages And Disadvantages Of Crypto Tours
The idea of cryptocurrency tours comes with many pros and certain cons as well. Here are several highlights of the pros and cons of crypto tourism.
Even though currently the players in crypto tourism look small, nevertheless there is a possibility of its evolution in times to come as blockchain is creating waves into the travel sector, attended with several pros. Primarily, it provides a new avenue for tourists to pay for their holidays. Additionally, it makes offerings for learning chances in cryptocurrency investments and trends. Along with that, it offers an avenue to meet with industry players, hence providing an opportunity for enthusiasts to interact with experts they have always wished to meet.
Some cons are about utilizing crypto tourism, Cryptocurrency cruises, crypto tours as a platform of promotion to pitching ICOs and offerings that are less valued to participants. This results from the unevenness in the cryptocurrency space.
Moreso, it functions much as a small market for tourists as the majority of the masses are not using cryptocurrency, and investing in it may seem to be less productive.
There have been lots of instances surrounding crypto tourism prior to the COVID-19 pandemic and there were many offerings and events.
Cryptocurrency cruises target at offering a platform that connects people with like kinds in the market and promotes some offerings in crypto. These programs contribute to the creation of networks in the crypto space and offer opportunities for investment. Hence, players have more opportunities to make some prominent investment decisions.
Lots of nations are opening their tourism and borders and they get to resume their activities in full force which as a result makes digital currency payment a good option and become more widely accepted in the coming future.