Accepting cryptocurrency as payment will be a game changer for Airbnb

Cryptocurrency payments

What is Airbnb? Airbnb is a concept that started in 2008 and is short for AirBedandBreakfast.com. The online platform allows people to list their properties for rent, lease and shorter-term stays. If you are looking for urgent accommodation for a client or yourself with no successful outcome because of hotels being overbooked, Airbnb has the solution for you. 

Airbnb accepting cryptocurrency payments

Can you pay Airbnb via cryptocurrencies? Well, yes, you can, though not directly. Accepting crypto as a form of payment will be a game changer in the Airbnb sector. Users and customers of apps like Fold and Bitfinex enjoy cashback and discounts when paying for Airbnb services. 

First of all, cryptocurrencies are digital coins or virtual currencies secured by cryptography. This makes it nearly impossible to counterfeit or double-spend. Cryptocurrency networks are based on blockchain technology. Examples of Crypto Currencies include Bitcoin, Ethereum, Tether, Xrp, and Litecoin. The most commonly accepted cryptocurrency for payment of Luxury goods and hotel services is Bitcoin. Most Airbnb customers or clients select Airbnb to avoid the hustle involved in hotel bookings. Airbnb platform or App offers flexible accommodation arrangements, and one can choose from a variety of homes. 

Some of the advantages of Airbnb vs traditional hotels are the following:

  • Airbnb platforms are flexible and accessible worldwide.
  • Airbnb platform offers cheap properties compared to hotels
  • Wide selection of properties listed there.
  • Airbnb clients earn points and rewards via gift cards
  • There is more privacy in Airbnb’s properties
  • The host can earn extra income from their properties
  • Airbnb allows group bookings, and friends can stay in one place.

The disadvantages of Airbnb properties are the following:

  • As a client, you are not able to see what you are paying for
  • There is a potential risk of your property getting damaged or items stolen.
  • It can encourage harmful and dangerous activities—e.g. hideouts for dangerous criminals and illegal trades or businesses.

Benefits of adding crypto as payment

Accepting cryptocurrency as a form of payment comes with many advantages: 

  • Clients of Airbnb come from different countries, so having a uniform payment currency can be challenging. The client can use cryptocurrency to load their gift card and pay directly to the Airbnb platform.
  • Cryptocurrencies, compared to fiat currencies, are immune to inflation. Paying via cryptocurrency makes it easier for the prices of the properties to remain consistent.
  • Customers have access to cashback discounts and gift vouchers, allowing them to save money while shopping for other goods.
  • Paying via cryptocurrency will reduce transaction times between banks and clients.

To conclude, if the Airbnb Platform accepts cryptocurrency as payment directly or indirectly, it shields its clients from inflation. It also ensures that its clients enjoy discounts and vouchers. Thirdly the flexible payment of cryptocurrency allows customers from all parts of the world.

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