Travala’s Bitcoin rewards initiative aims at high-end travelers amidst growing BTC enthusiasm

Travala.com, a travel agency that supports cryptocurrency, is introducing a new cashback program that rewards its top-tier travelers with Bitcoin (BTC). The program, which is available to users who have reached the Smart Diamond tier of the loyalty reward program, aims to leverage the scarcity of BTC as an attractive reward mechanism. According to Travala.com CEO Juan Otero, Bitcoin’s reputation as the most recognized cryptocurrency, combined with its limited supply and status as a rare digital asset, makes it an ideal choice for the cashback program. Otero also believes that offering Bitcoin rewards for travel bookings will increase the appeal of using cryptocurrency for everyday payments. The rewards will be credited to the member’s account within 24 hours of completing a trip, and users will have the freedom to use their Bitcoin rewards as they wish. They can either use them to pay for other travel products on the platform or withdraw them to an external wallet, exchange, or platform. Bitcoin is currently one of the top three payment methods on Travala.com, with approximately 9% of travel bookings made with the cryptocurrency. In 2023, travelers spent over $5 million in BTC on flights, hotels, and activities. However, the BTC cashback program is exclusive to users who own the Travel Tiger NFT and stake 2,500 AVA tokens to activate the Smart Diamond membership. Only 1,000 Travel Tiger NFTs exist, making the rewards scheme limited to a select number of travelers. The NFTs, which are randomly generated collectibles on the Ethereum blockchain, have a floor price of 2.6 Ether (ETH), equivalent to around $9,800. To access Travala’s Bitcoin cashback program, travelers would need to pay approximately that amount. Travala.com also believes that cryptocurrency-based cashback programs have the potential to disrupt traditional Web2-based programs. By using Bitcoin, cashback providers can reduce fees associated with traditional payment systems and minimize risks of chargeback fraud. The CEO of Travala.com sees Bitcoin rewards as a way to introduce new users to the Web3 ecosystem, as the AVA Foundation’s blockchain-based rewards platform utilizes the AVA token to distribute cashback, loyalty rewards, payment discounts, and gated access benefits.