The cryptocurrencies achieved huge popularity in recent years due to Bitcoin’s bull cycle, which further impacted the crypto market, and many cryptocurrencies also followed suit with the bull market phase.
The results were an increased interest by the business sector to accept crypto payments and to implement blockchain-based solutions.
The advantages provided by the crypto world were overwhelming, which is one of the main reasons why there are today crypto credit cards that you can find useful on your travels. Here, we will cover the main advantages of crypto credit cards.
Cryptocurrencies and Crypto Credit Cards
Cryptocurrencies are based on decentralized blockchain technology, which means that they operate without the control or supervision of any external financial authority. There is a rise in cryptocurrencies on the market, and new ones emerge all the time. Each cryptocurrency has its own specific and unique attributes, and many investors are drawn to cryptocurrency due to their money-making potential.
That being said, the crypto market, due to its decentralized nature, is quite volatile, and it’s prone to unexpected boom and bust cycles. So, even if you have a crypto credit card, you still need to be careful how you use your crypto funds.
When we talk about crypto credit, you should be aware they function just the same as any regular credit card. Based on the provider, you’ll be able to receive cash back, points, and miles that you can redeem for traveling purposes later.
Each crypto credit card supports different cryptocurrencies. For example, some might only be associated with major cryptocurrencies like Bitcoin, while others might support multiple cryptocurrencies such as Bitcoin Cash, Dogecoin, and Ethereum the name a few.
So, if you’re planning a trip abroad, you obviously need an international driving license, but you can also use a crypto credit card which would be useful for booking your accommodation or travel protection.
If you are specifically looking to learn about any travel benefits from using certain credit cards, you must compare the rewards and perks you will receive if you become a cardholder of that company. For example, there are crypto credit cards, like BlockFi Rewards Visa, that gives you access to their exclusive selection of hotels, and it also offers travel and purchase protection.
Other crypto credit cards are not necessarily targeting travelers, but they offer additional benefits due to their partnership with famous brands. For example, with the SoFi Credit Card, you’ll get travel and cellphone protection and rewards from notable partners of SoFi like Lyft, ShopRunner, and others.
In conclusion, not every crypto credit card will offer the same benefits, which also apply to traveling. But there are many useful advantages of having one. For example, you can earn points, receive cash back, and travel protection. Based on the partnership of the crypto credit cards, you’ll also get to access some exclusive perks from other brands. So, overall based on your own financial goals and preferences, a crypto credit card could be a great addition to your travel itinerary, and you can use it to plan your trip.