What Is Crypto Tourism?

The gross adoption of cryptocurrencies has seen digital assets making an exclusive entrance into different sectors and industries. As such, digital currencies are fast becoming accepted in the travel industry. Their adoption in the industry continued to surge until the COVID-19 pandemic brought about a form of seizure on travel and tourism in 2019. However, since the pandemic had begun to fade, a resumption in countries and travel resumed. Hence, the travel industry is more open to new ideas and learning ways to be more efficient. And one of the ways of being more efficient in crypto dealings is via crypto tourism. Crypto tourism is an unusual kind of tourism committed to a travel pattern that caters to crypto enthusiasts and investors. It also includes offering lectures or classes about cryptocurrency.

Understanding Crypto Tourism

Despite the volatility of the markets, there is a great growth record in the blockchain and cryptocurrency industries which has stirred the concern of investors. There is an increment in the number of people who are embracing the use of digital currencies and utilizing crypto exchanges, for example, Redot. Hence, travelers began to have an increased desire to use cryptocurrencies for their trips once there is a restoration of normality.

Crypto tourism emerged when several tourism companies began to arrange some travel programs for cryptocurrencies and blockchain enthusiasts. Traveling programs like luxurious cruises are offering awesome service to cryptocurrency holders.

Crypto tourism is defined as a form of tour service that is strictly rendered to cryptocurrency enthusiasts. It often involves providing organized travel tours that can either be paid for with digital currency or offer lectures or classes about cryptocurrency as part of the tour.

The targets of crypto tourism are specifically the crypto-rich and famous. However, regular people interested in cryptocurrency can go on crypto cruises and make payments with cryptocurrency during their holidays. In most cases, digital currencies like Bitcoin (BTC) can be used to pay for things like hotels, meals, and airline tickets during adventures

It is important to understand that crypto tours and cruises are far beyond usual fun, rather, they include conferences, exhibitions, and panel talks on cryptocurrency-related matters.

Who Uses Crypto Tourism?

As said earlier, the target clients for the crypto tours are those we call the crypto-rich and the famous. Yet plenty of regular folks who are interested in cryptocurrency may venture on a crypto tour or use it to pay for their holidays.

A few crypto tours were organized in time past for specific purposes such as the promotion of a potential initial coin offering (ICO). The program features areas such as conferences, presentations, and market talks by the promoters, industry leaders, and likes. Hence, this means that crypto tourism is also used by platforms that are seeking to conduct events like ICOs.

Americans are making plans to continue the use of digital coins, as more countries open their borders to travelers. Research revealed that 22% of people in America had intentions to use cryptocurrency to pay for their travel in the second half of this year.

Examples of Crypto Tourism

An example of crypto tours held in the past is the Coinsbank blockchain cruise that took place in 2017. The event was entertaining and educative, hence recording a good turnup of participants from 19 countries.

At the Coinsbank blockchain cruise, issues affecting cryptocurrency and blockchain technology were discussed. The cruise featured presentations from many industry leaders from companies like Ledger, Bitcoin.com, Unocoin, etc.

Companies in New Zealand also made offers of this type of activity. They were more of a travel program where tourists could use crypto coins for their adventures.

Pros and Cons of Crypto Tours

The concept of crypto tours comes with many advantages and certain setbacks as well. Here’s a few highlights of the pros and cons of crypto tourism.

Although presently the participants in crypto tourism appear small, notwithstanding there is a possibility of  its growth in times to come as blockchain is paving waves into the travel industry, accompanied with several advantages. Firstly, it offers a new way for tourists to pay for their vacations. Secondly, it makes provision for learning opportunities in cryptocurrency trends and investments. In addition, it provides an avenue to meet with industry experts, hence offering an opportunity for enthusiasts to meet experts they’ve always desired to meet.

Some disadvantages are about using crypto tours as a means of promotion to pitch ICOs and less valued offerings to participants.  This results from the irregularities in the crypto currency market.

Moreso, it operates much as a small market for tourists since the majority of the populace is not using digital currency and investing in it may be less productive.

Bottom Line

There have been lots of activities surrounding crypto tourism before the COVID-19 pandemic and there were many events and offerings.

Cryptocurrency cruises aim at providing a platform that connects individuals with like kinds in the industry and promote some crypto offerings. These programs contribute to the building of networks in the crypto community and provide investment opportunities. Therefore, participants have more chances to make some significant investment decisions.

Lots of countries are opening their borders and tourism gets to resume in full force which as a result make cryptocurrency payment option and become more widely accepted in the nearest future.