Crypto-friendly travel agency Travala.com is introducing a Bitcoin cashback program as a reward mechanism for its top-tier travelers. The program, available to users who have unlocked the Smart Diamond tier of the loyalty reward program, aims to capitalize on Bitcoin’s status as the most recognized cryptocurrency and its scarcity as a desirable asset. CEO Juan Otero believes that offering Bitcoin as a cashback reward for travel bookings will increase the appeal of using cryptocurrency for daily payments. The rewards can be used for other travel products on the platform or withdrawn to an external wallet, exchange, or platform. Bitcoin is one of the top three payment methods on Travala.com, accounting for about 9% of travel bookings. To be eligible for the cashback scheme, users must own a Travel Tiger NFT and stake 2,500 AVA tokens for Smart Diamond membership. Only 1,000 Travel Tiger NFTs exist, and they are currently listed on OpenSea for a minimum price of 3.2 ETH, equivalent to around $9,800. Travala.com sees cryptocurrency-based cashback programs as potentially disruptive to traditional Web2-based programs, as they can reduce fees and fraud risks associated with traditional payment methods. The company believes that Bitcoin rewards can introduce new users to the Web3 ecosystem through its AVA and BTC rewards programs.
Travala's innovative Bitcoin rewards initiative caters to elite globetrotters amidst the growing frenzy for BTC.