Ever wanted to own cryptocurrency without investing? Now you can – all you need to do is book a hotel room for your next holiday.
Hotel booking site Travala.com is giving customers free cryptocurrency for using the site.
Fear not: users don’t have to know how crypto works to take part.
They just need to make a booking or leave a review on the site to receive the site’s own AVA tokens, which come in the form of loyalty points.
Apart from 15 cryptocurrencies, the site also accepts payment for bookings through PayPal or credit card.
Once customers accumulate loyalty points, they can exchange them for discounts of up to 40 per cent off their next booking.
The only difference is that the points, being actual cryptocurrency, will rise and fall in cash value, which affects the discounts users get.
Travala.com founder Matt Luczynski, 24, told Business Insider that so far, 70 per cent of the approximately 10,000 bookings made on the site were paid for in cryptocurrency, while the other 30 per cent were paid using PayPal.
The seven-month-old site has about 16,000 worldwide users, most of whom are millennials aged 24 to 35, he added.
Luczynski said it is likely that users are cryptocurrency investors looking to spend their coin on travel experiences – a prospect especially appealing to the millennial demographic.
This is because the site is one of the few places that lets them spend cryptocurrency on travel-related services.
Users spending nearly $800 per night on hotels in Singapore
And according to the founder, Singapore seems to be quite a popular destination among Travala.com users.
Of the site’s 560,000 properties across 210 countries, 722 are in Singapore.
Every month, the site gets between 600 to 1,000 bookings, of which approximately 200 are Singapore properties, Luczynski said.
He added that a whopping 90 per cent of luxury bookings on the site are for Singapore hotels.
Most of the Singapore listings are luxury hotels such as The Ritz-Carlton Millennia Singapore, Mandarin Orchard Singapore, and Amara Sanctuary Resort Sentosa.
In April this year, the average spending on a Singapore booking on the site was US$580 (S$790) per night, compared to a worldwide average of US$450 per night.
However, the republic is not yet the most popular destination on the site. That title currently belongs to Thailand, thanks to its high number of budget accommodation bookings.
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