Electroneum | The new partnership of the crypto company could save money
Do you want to pay less for hotels so that you have more money for cocktails on the beach? A crypto startup says its digital currency is now supported by a low-cost travel website.
When the coronavirus pandemic is over and the lockdown measures are over, there is one thing that will be a priority for many of us: booking a vacation.
But here’s the problem – many hotel rooms are being charged at overwhelming prices, with some travel websites acting as middlemen, charging high commissions.
Now Electroneum has announced that its native digital asset can be used as a payment method on LockTrip, a website that allows globetrotters to discover secret travel deals and save up to 60% on vacation costs.
The crypto-payments company says it is constantly looking for new use cases for ETN, a crypto-currency used by millions of people around the world, which already enables ETN owners to charge their electricity meters with this digital currency and top up credit on smartphones.
With LockTrip enabling its customers to book more than 2.1 million properties and flights from over 1,000 airlines in 190 countries, the Electroneum community partnership will offer far greater choice than that offered by other crypto-focused travel sites.
“This company is experiencing a real adoption of ETN by other blockchain and crypto projects that have recognized the benefits of using our cryptos for both its unique instant payment system and its very large and dedicated community,” CEO Richard Ells told Cointelegraph. “We are growing very fast. Following our partnership with LockTrip, ETN is accepted by over two million companies worldwide”.
The collaboration is also good news for users of AnyTask, ETN’s platform for freelancers, who will have a new way to spend their income and take a much-needed break from the world of work.
Why Electroneum Krypto?
According to ETN, the use of crypto currencies when booking a vacation can unlock benefits that many of us may not have thought of.
First of all, there is the issue of fees charged by credit and debit card providers. According to the platform, ETN is much cheaper than Visa and Mastercard, which means vacationers have a bigger budget for cocktails on the beach. Crypto can also help consumers not to be penalized by exchange rates when paying for reservations in a Fiat currency other than their own.
In many cases, these crypto payments can be completed by simply scanning a QR code – and this can be far more secure than manually entering credit and debit card details. Some LockTrip users have even claimed that they were able to secure hotel rooms that were listed as sold out elsewhere.
Electroneum says it is the first crypto startup to partner directly with LockTrip. ETN will now be offered as a payment method alongside other crypto currencies such as Bitcoin, Litecoin and Ethereum.
To give a concrete example of how LockTrip compares to Fiat-oriented brands, the ETN team has conducted some research. They found that using crypto instead of a debit card would save about $15 when booking 14 nights at an airport hotel – and even better, the price LockTrip quoted for the accommodation was $52 lower when paying with crypto than Hotels.com and Skyscanner, and $38 lower than Hotels.com and Skyscanner when paying with debit or credit cards.
Too good to be true?
Some may wonder how LockTrip manages to offer such competitive discounts, considering the old adage that there is no such thing as a free lunch. But the travel platform is transparent in its approach – it says it works directly with leading providers to secure the best deals and takes an organic growth approach rather than relying on expensive marketing budgets.
“We don’t put pressure on our members to sell with warnings like ‘one room only’ or to make special offers to our members that are not special. We believe that respect begins with honesty,” LockTrip said.
The company also enables clients and property owners to interact directly with each other. Given that popular sites like Airbnb and Booking.com can charge accommodation providers up to 30% commission, their approach can bring savings to travelers while providing healthier profit margins for businesses.
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