Travelers opting to use cryptocurrency over traditional fiat currencies are proving to be a financial boon for the travel industry, as outlined in a recent report by Binance Pay and Travala. These digital currency enthusiasts are splashing out significantly more when booking travel arrangements—over 2.5 times more per transaction, to be exact. The numbers speak for themselves: crypto-based bookings on Travala soared to an impressive $80 million in 2024, a notable leap from $45 million in 2023.
Crypto Travelers: Big Spenders and Loyal Customers
Crypto users aren’t just spending more; they’re sticking around longer. The report highlights that these travelers have a lifetime value three times greater than their fiat-using counterparts. Why? They’re booking longer stays and are 57% more likely to make return visits to the same hotel. Juan Otero, CEO of Travala, suggests that the flexible work nature of many crypto users, often employed in the digital asset industry, fuels this trend. “Their ability to work remotely means they can travel more frequently—often choosing destinations that support seamless, global payments,” he explains.
This isn’t just a blip on the radar. The rise of crypto payments is transforming the travel industry and beyond. Airlines jumping on the crypto bandwagon have reportedly seen a 40% boost in bookings. In fact, the travel and hospitality sector accounted for 14% of all crypto transactions in 2024, according to a February report from Triple-A. This trend aligns with broader adoption efforts, such as Visa and Baanx’s launch of USDC stablecoin payment cards, which further integrate crypto into everyday transactions.
The Appeal of Borderless Transactions
Jonathan Lim, global head of Binance Pay, points to the inherent advantages of using crypto for travel: “Travelers can avoid the hassle of currency exchange lines, dodge foreign transaction fees, and make instant payments with assets they already own.” This ease of use is attracting a growing number of crypto holders to spend their digital assets on travel. The same Triple-A report notes that cryptocurrency ownership is expanding at a staggering compound annual growth rate of 99%, with 65% of crypto owners expressing interest in using it for payments.
With platforms like Travala facilitating payments in over 141 cryptocurrencies, including Bitcoin and USDC, the infrastructure is already in place for this trend to continue gaining momentum. Travala, founded in 2017, has positioned itself as a leader among crypto-native travel platforms, offering flights, hotel stays, and tours to the crypto-savvy traveler. This is part of a larger movement in the retail sector, where Mesh’s integration of Apple Pay to allow crypto spending highlights the growing intersection between traditional payment systems and digital currencies.
A Broader Shift in Retail
Crypto’s reach isn’t confined to travel. The landscape of retail is shifting as well, with luxury brands and even fast-food chains embracing digital currencies. The first real-world Bitcoin transaction—celebrated today as Bitcoin Pizza Day—was made 15 years ago, and since then, the use of crypto in retail has grown exponentially. High-end brands like Gucci and watchmaker Franck Muller have joined the crypto revolution, and as of May 16, 2025, even fast-food giant Steak ‘n Shake is accepting Bitcoin.
Adoption isn’t without its challenges, though. A Steak ‘n Shake customer noted that a $5 burger could end up costing over $8 with network fees and could take over 20 minutes to confirm payment. However, Binance Pay offers a more streamlined experience, with payments confirmed in seconds thanks to its closed-loop payment solution within the Binance ecosystem.
Despite the growing pains, the majority of crypto travel payments on Travala are made using stablecoins like Tether’s USDt and Circle’s USDC, which are ultimately converted into fiat at the point of sale. This conversion, managed by the merchant or payment partner, is based on a predetermined exchange rate, ensuring stability in transactions.
Looking Ahead
As crypto use in everyday payments continues to expand, it’s raising questions about the future dynamics of travel and retail industries. Will this trend sustain its momentum, or is it merely a speculative bubble? The increasing adoption across various sectors seems to suggest the former, but only time will tell. For now, crypto travelers are not just visiting new destinations—they’re reshaping the economic landscape in their wake.
Source
This article is based on: Crypto travelers bring 3x greater lifetime value than fiat users
Further Reading
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Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
