One of the UK’s leading business travel management firms has integrated BitPay to allow customers to pay for their travel in Bitcoin and Bitcoin Cash. Corporate Travel has recognized the increased demand for Bitcoin and Bitcoin Cash payments from its clients, and has decided to act. Thanks to BitPay automatically converting crypto into fiat, Corporate Travel can remain at the cutting edge of payment technology, without being exposed to market volatility.
Travel Agents Turning to Crypto
For a number of years, travel agents and booking websites have been moving to accept cryptocurrencies. As more and more people start entering the crypto markets, there is an increasing demand from users to spend this new-found wealth. Destenia Travel kicked off the crypto party back in August 2018, accepting Bitcoin for flight and hotel bookings. Just months later, More Stamps Global decided to follow suit and enabled crypto payments on its travel booking website. Now, there are more than 50 travel agents accepting a variety of cryptocurrencies around the world, giving crypto holders a way to spend their money attending conferences and family events.
Perfect for Negating Market Volatility
Not everyone has the gumption to take on the crypto market’s legendary volatility, hindering the mass adoption of crypto. However, BitPay has entered the market and offers merchants the ability to accept cryptocurrencies and receive fiat in under two business days. The crypto is converted at the point of sale, meaning nobody is left out of pocket should the market decide to suddenly change. Last year, ecommerce giant Fancy swapped to BitPay to take advantage of this service. It works similarly to eBay, and shifts in crypto markets could end up leaving merchants with a dent in their profits.
BitPay Bouncing Back
In November last year, a major bug was detected in BitPay and Copay that allowed hackers to steam private key information. A flaw was found in a Node.JS package that created this backdoor, meaning merchants and Copay wallet holders were required to update their apps and create a new wallet. Fortunately, there were no reports of any stolen funds and it appears as if BitPay managed to escape what could have been a costly scandal.
BitPay is slowly helping millions of crypto holders find new ways to spend their hard held crypto. With a flat rate of 1% on transaction fees, BitPay is the clear standout choice when it comes to payment merchants – especially at a time where Visa and MasterCard are ramping up their fees.
