Skip to main content

Travala’s 2021 Q3 Report Shows Crypto Adoption ‘Offset the Negative Impact of the Pandemic’

The crypto-friendly travel company Travala published its third-quarter 2021 report showing the firm has grown significantly alongside the growth of crypto adoption. In fact, cryptocurrency adoption has “more than offset the negative impact of the pandemic,” the company said as Travala posted a record-setting quarter in Q3 2021.

Crypto Adoption Bolstered Travel Company Travala’s Third Quarter

According to a third-quarter 2021 report published by Travala, the company has seen “explosive growth” in the firm’s three core services: hotels, flights, and activities. In Q3, Travala introduced its “Community Pool” and “Community Vote” concepts alongside its “proof-of-travel” NFTs. Thanks to services like hotels, flights, activities, concierge, and integration fees, Travala’s Q3 revenue was $9.8 million which represents 651% growth compared to Q3 2020.

Travala noted that hotel bookings and flights grew 50% from Q2 2021 and activities increased by 70%. However, the firm’s concierge service saw a decline of 55% which offset the aforementioned increases. The strongest performing service was hotel bookings, but flights had their strongest quarter to date. “Our activities vertical showed strong growth in its second full quarter,” Travala added. “The number of activities booked almost tripled over the previous quarter.”

8% of Travala Clients Paid in Bitcoin, 41% Used Alternative Crypto Assets

In Q3, to pay for hotels, 12% of Travala customers used traditional payments, and 13% used travel credits. 14% of clients leveraged the crypto asset AVA, 12% used the Binance Pay service, 8% paid with bitcoin (BTC), and 41% leveraged alternative crypto assets.

Travala's 2021 Q3 Report Shows Crypto Adoption ‘Offset the Negative Impact of the Pandemic’

While booking services with Travala 8% of users leveraged the Binance Mini-App, 47.4% used a desktop, and 34.4% used a mobile application. Juan Otero, Travala’s CEO, noted in the 2021 Q3 report that one of the biggest challenges this year was dealing with Covid-19.

“It is hard to overstate how big a challenge Covid-19 has been for our industry. With signs of recovery increasingly starting to take hold, we are witnessing a staggering amount of transformative innovation rising out of the ashes of the pandemic,” Otero said. “Even with the last years being the most challenging on record for the travel industry, Travala.com has grown exponentially as the rise in cryptocurrency adoption has more than offset the negative impact of the pandemic,” the CEO concluded.

What do you think about Travala’s 2021 Q3 report? Let us know what you think about this subject in the comments section below.



from Bitcoin News https://ift.tt/3mqW38Q
Labels:

Comments

Post a Comment

Popular posts from this blog

Deep Web Roundup: Dream Adds Monero and Bitcoin Tumbler “Chip Mixer” Launches

The darknet has been quiet of late, which is the way it’s meant to be. No news means no mega busts, honeypots, or mass market shutdowns. Even when it’s out of the spotlight though, the deep web is quietly making news, whether trialling the latest privacy coins or the newest coin mixers that promise to restore a little of the privacy that’s being stripped away from bitcoin users on a daily basis. Also read: U.S. Agency ICE Conducts Investigations That Exploit Blockchain Activity The Battle for Privacy Heats Up Privacy is all relative, but of late there’s been relatively little privacy to be enjoyed by bitcoin users. Blockchain monitoring software is becoming more sophisticated and more common, with U.S. law enforcement agencies using it to profile and hunt down deep web users. Chip Mixer is a relatively new bitcoin tumbler that’s designed to restore some of that privacy. Available on both the clearnet and darknet, the service uses a variety of techniques to obfuscate blockchain m...
10 comments
Read more

International Crypto Exchange Luno Adds Bitcoin Cash Trading

Luno exchange has added bitcoin cash trading to the platform following feedback from its client base. BCH is now only the third cryptocurrency available for trading on the exchange, in addition to BTC and ETH , but more options could be on the way once Luno determines that they are credible enough. Also Read: Bitflyer Adds Bitcoin Cash Trading Across Europe and the US Luno Adds Bitcoin Cash Trading Luno, the London-headquartered company formerly known as Bitx, recently announced that bitcoin cash was made available on its cryptocurrency exchange. Starting from Monday, September 23, customers at Luno are now able to store, buy and sell BCH on the platform. The reason given for adding BCH to the exchange is feedback from users in developing markets that convinced Luno to expand their offering from previously just BTC and ETH . Marcus Swanepoel, CEO of Luno, said , “We are in a new and exciting financial era. Developing economies are leading the large-scale adoption and appli...
Post a Comment
Read more

Ombudsman Receives Complaints About Crypto Investments in Spain

The Spanish ombudsman has been receiving complaints about cryptocurrency and how some Spanish citizens investing in these vehicles have lost everything. In his annual report, Angel Gabilondo recognized the rise of cryptocurrencies as a new problem due to the little or no regulation crypto sees in the country. In the same way, the EU has also warned about these assets recently. Spanish Ombudsman Gives His Take on Crypto Angel Gabilondo, the Spanish ombudsman, has given his take regarding cryptocurrencies and the effects they have on citizens investing in some of these projects. Gabilondo said in his yearly report that cryptocurrencies have become “a new problem” during the year examined, with many people having lost all of their funds invested. The report states : Cryptocurrency exchange companies or platforms are not regulated in the legal system, are not subject to any public supervision system, nor do they benefit from deposit guarantee systems. The affected users that sought...
Post a Comment
Read more