Bitcoin, and wider cryptocurrency, is here to stay.
Whether you can quite understand the concept of a decentralised, peer-to-peer currency, or not, there is no denying that the emergence of cryptocurrency has shaken up the currency market in a way that we have not seen in generations – and it took some of the Old Boys’ Club of traditional finance a little while to cotton on to the merits of investing in crypto.
That did, though, open up an opportunity for those who were willing to place their faith in the brainchild of Satoshi Nakamoto, the pseudonym for the person behind the blockchain revolution. Early-adopters of the currency have, in some cases, become overnight millionaires – and a whole new swathe of currency investors have emerged from behind their computers to dip their toe in the cyberpunk world of digital coinage.
It has also led to the birth of a number of cutting-edge companies, utilising real-time technology to allow crypto pioneers to build a trading empire. For example, The Bitcoin Revolution (the-bitcoinrevolution.com) software gives you real-time crypto trading signals, so you know exactly what to trade.
Although the industry powered by cryptocurrency continued to evolve apace, the establishment’s resistance to cryptocurrency seemed to have been reflected in the traditional consumer industries. In the early days of Bitcoin, companies specialising in business-to-consumer relations, from luxury vehicles to the property market, stopped short of to placing their trust in a currency that fluctuated in value.
In 2020, though, things are changing – and rightly so. After all, as Bitcoin has laid the foundations for an unquantifiable, but significant, number of new millionaires to indulge in the high-life, that must be reflected in the market. “Sorry, sir, your Bitcoin is no good here” just won’t do anymore.
Last week, we wrote about how the emergence of Bitcoin has shaped the luxury market, and hospitality is no exception. Now, more than ever, luxury hoteliers have adapted to cater for the newest of new money entrepreneurs. These changes are even notable at the mass-market level, where Expedia has dabbled with accepting crypto payments.
If you are a cryptocurrency enthusiast looking to spend your earnings on a getaway without having to mess around with converting to fiat currency, look no further. Here’s Luxury Lifestyle Magazine’s pick of the best available Bitcoin bookings.
The Dolder Grand – Zurich, Switzerland
It should come as little surprise that a luxury hotel in Switzerland, a nation known for its liberal financial legislation, would become one of the pioneers of accepting Bitcoin as payment.
The Dolder Grand claims to be the world’s-first five-star hotel that accepts cryptocurrency as payment. The stunning venue partnered with Swiss fintech firm Inacta to pilot a project which allows customers to pay for their hotel bookings, spa packages and their food and beverage tabs.
Inacta developed a mobile app called Inapay to convert the Bitcoin transactions into fiat currency at the hotelier’s end.
The Dolder Grand is a truly luxurious and exclusive hotel, with suites of all ranges to suit your needs, as well as world-class spa with a 4000 square-metre footprint, opulent dining facilities, and much, much more.
“Many of the improvements in our service in recent years were made possible by advances in technology. As we believe Bitcoin is here to stay, it only seems natural to offer more choices in the payment process,” said the hotel’s finance director, André Meier.
Sandman Hotels, Canada and worldwide
Although The Dolder Grand can rightly claim the award as the most ostentatious of the Bitcoin-accepting hotels, the Sandman group can claim to be the first.
The Vancouver-based hotel chain operates 44 venues around Canada, and is also present in the UK, in locations like Newcastle-upon-Tyne, Aberdeen, Scotland, and London Gatwick.
However, it is best-known for its early-adoption of crypto – choosing to accept Bitcoin payment through the well-known cryptocurrency broker Coinbase, based in Silicon Valley.
Much like the Inapay solution in Switzerland, the Sandman group opted to eliminate early volatility in the cryptocurrency market by converting each Bitcoin payment to Canadian dollars.
Casual Hoteles, Spain and Portugal
In 2019, Spanish hotel group Casual Hoteles dipped their toe into the cryptocurrency market by accepting Bitcoin payments for guests at their Malaga hotel.
The move seemed to have been made in conjunction with a number of modern upgrades in their hotels, aimed at embracing technologically-minded customers who wanted to a high-end experience.
The policy change coincided with renovations inside their hotels, which included wireless charging capabilities in rooms.
The company has opted for as flexible a transaction method as possible – and guests can choose from a couple of options to instigate paying by Bitcoin. The first involves scanning a QR code on the company’s website, and the second is to receive an invoice via WhatsApp upon settling the bill. This digital invoice includes an option to settle using cryptocurrency through BitPay.
Investing in cryptocurrencies carries risk, do so at your own risk and we advise people to never invest more money than they can afford to lose and to seek professional advice before doing so.