Do you need a vacation? The crypto company’s new partnership could save you money

Once the coronavirus pandemic is over and the restrictions on the blockade, there is one thing that will be a priority for many of us: booking a vacation.

But here’s the catch: Many hotel rooms pay at amazing rates, with some travel websites acting as middlemen and adding hefty commissions in the process.

Now, Electroneum has announced that its native digital asset can be used as a payment method on LockTrip, a site that allows globetrotters to discover secret travel deals and save up to 60% on the cost of their holidays.

The cryptocurrency payments firm claims to be constantly on the lookout for new use cases for ETN, a cryptocurrency used by millions of people around the world. Electroneum already allows ETN owners to top up their electricity meters with this digital currency and add credit to smartphones.

Given the way LockTrip allows its customers to book more than 2.1 million properties and flights from over 1,000 airlines in 190 countries, the partnership is set to give the Electroneum community far more choice than is offered on other sites. travel programs focused on cryptography.

“Electroneum is experiencing real ETN adoption from other blockchain and crypto projects that have seen the benefits of using our cryptography for both its unique instant payment system and its very large and engaged community,” he told Cointelegraph. CEO Richard Ells. “We are growing very fast. After our partnership with LockTrip, ETN is accepted by over two million companies around the world. “

The collaboration is also good news for users of AnyTask, Electroneum’s platform for freelancers, who will have a new way to spend their earnings and take a much-needed break from the world of work.

Why crypto?

According to Electroneum, using cryptocurrencies to book a vacation can unlock perks many of us may not have thought of.

First, there is the problem of the fees charged by credit and debit card providers. The platform claims that transactions with ETN are far less expensive than Visa and Mastercard, which means vacationers have a bigger budget for beach cocktails. Crypto can also help consumers avoid punishing exchange rates when paying for bookings denominated in a fiat currency other than their own.

In many cases, these crypto payments can be completed simply by scanning a QR code, and this can be much safer than manually entering credit and debit card details as well. Some LockTrip users even claimed they were able to secure hotel rooms that were listed as sold out elsewhere.

Electroneum says it is the first crypto startup to directly partner with LockTrip. Now, ETN will be offered as a payment method alongside other cryptocurrencies including Bitcoin, Litecoin, and Ethereum.

To offer a concrete example of how LockTrip compares to fiat-centric brands, the Electroneum team did some research. They found that using cryptocurrencies instead of a debit card to book 14 nights at an airport hotel would save around $ 15, and better yet, LockTrip’s price for accommodation was $ 52 less than Hotels. com and Skyscanner when paying with cryptocurrencies and $ 38 less paying by debit or credit card.

Too good to be true?

Some may wonder how LockTrip manages to offer such competitive discounts given the old saying that there is no such thing as a free lunch. But the travel platform is transparent about its approach, stating that it works directly with major suppliers to ensure the best deals and pursues an organic growth approach instead of relying on expensive marketing budgets.

“We don’t pressure selling with warnings like” there’s only one room left “or feature special offers from our members that aren’t special. We believe respect starts with honesty, ”LockTrip said.

The company also allows clients and property owners to connect directly with each other. Given the way popular websites like Airbnb and Booking.com can charge accommodation providers commissions of up to 30%, its approach can deliver savings to travelers while delivering healthier profit margins for businesses.