March 27, 2024
Bitcoin News

Travala.com Unveils Bitcoin Cashback Program for Top-Tier Travelers

Crypto-friendly travel agency Travala.com has launched a groundbreaking Bitcoin cashback program, targeting its elite travelers enrolled in the Smart Diamond tier of the loyalty reward program. In an exclusive announcement to Cointelegraph, Travala.com CEO Juan Otero emphasized Bitcoin’s growing appeal, citing its recognition as the premier cryptocurrency and its status as a finite and scarce digital asset.

Otero highlighted the recent approval of the first spot Bitcoin exchange-traded fund, stating, “Bitcoin is here to stay, and it’s now becoming more appealing to mainstream audiences.” The cashback rewards, credited within 24 hours of completing a trip, aim to broaden the use of cryptocurrency for daily payments.

Members of the Smart Diamond tier have the flexibility to use their Bitcoin rewards for other travel products on the platform or withdraw them to an external wallet, exchange, or platform. Bitcoin ranks among the top three payment methods on Travala.com, constituting about 9% of travel bookings, with over $5 million spent in BTC on flights, hotels, and activities in 2023.

However, the BTC cashback program comes with exclusivity, requiring users to own a Travel Tiger NFT and stake 2,500 AVA tokens for Smart Diamond membership. Only 1,000 Travel Tiger NFTs are available, randomly generated utility collectibles on the Ethereum blockchain, with a floor price of 2.6 Ether (approximately $9,800).

Travala.com believes that cryptocurrency-based cashback programs could disrupt traditional Web2-based systems, potentially reducing fees associated with conventional payment methods and minimizing chargeback fraud risks. CEO Juan Otero envisions Bitcoin rewards as a gateway for new users to enter the Web3 ecosystem, leveraging the AVA Foundation’s blockchain-based rewards platform using its native AVA token.

As Travala.com pioneers the integration of Bitcoin into its loyalty rewards, the travel agency aims to further solidify cryptocurrency’s role in mainstream commerce and create a seamless experience for its top-tier clientele.

Image by fabrikasimf on Freepik

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