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Travel Agency Exclusively Accept Bitcoin

In efforts to embrace Bitcoin and other cryptocurrencies, Gozo, Malta-based travel agency Bitcoin Adventures has decided to offer its clients package holidays that are paid exclusively with Bitcoin.

The move has got its first two tourists as of early October, Lovin Malta reports.

In the agency’s promotional video, co-founder Leon Siegmund said that they intend to promote Bitcoin as a better form of payment.

Malta-Based Travel Agency Decides to Exclusively Accept Bitcoin Payments

“Bitcoin is better money because there is no central bank, no inflation, and no transaction fee involved, and sending money just involves two people and a smartphone. The problem is that nobody uses Bitcoin so nobody thinks it works, and because nobody thinks it works, nobody uses Bitcoin. We are trying to disrupt the status quo here. You can now book an amazing adventure holiday in Gozo and pay with Bitcoin, so the local merchants get more bookings and revenue, and start seeing Bitcoin as better and beautiful banking.”

Malta and Bitcoin

The agency has already signed up its first ever tourists under its promotion – Japanese citizen and infrastructural support engineer Takesho Koide and his wife. Koide claimed that he wanted to visit Malta the moment he saw online photographs of the Blue Lagoon and street cars.

Rather than booking with a regular travel agency, however, he and his wife have chosen to take the kayaking trip and three-night stay in Gozo offered by Bitcoin Adventures.

According to Koide, the use of Bitcoin as payment is increasingly becoming popular in Japan, as a growing number of retail stores are already accepting Bitcoin as a form of payment.

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“Bitcoin payment is becoming popular in Japan, because multiple retail outlets have started to accept Bitcoin payment. If this method is applicable for my future trips, I would like to make use of it as much as possible.” <Continue Reading>

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Japan Becomes Largest Bitcoin Market as Traders Leave China

Japan has once again become the largest Bitcoin exchange market with 50.75 percent market share of the global Bitcoin exchange market. Analysts including BitFury Vice Chairman George Kikvadze attributed the surge in the trading volume of the Japanese Bitcoin exchange market to the exit of Bitcoin traders in China.

Earlier this week, the Chinese government, local authorities and financial regulators officially requested Chinese Bitcoin exchanges and trading platforms to halt their services by the end of September. OKCoin and Huobi, the two largest exchanges in China, were granted leeway to operate until Oct. 30, considering the fact that they have not been involved in any initial coin offerings (ICOs) in the past.

But, it seems as if traders are not willing to take any chances with the Chinese government and their unpredictable nature. The Chinese Bitcoin exchange market’s daily trading volume has halved within a period of three days, from 15 percent to less than seven percent.

According to various trusted Bitcoin market data providers such as CryptoCompare, China only accounts for 6.4 percent of global Bitcoin trades at the time of reporting.

Japan Becomes Largest Bitcoin Market as Traders Leave China

“This is a good thing. China can no longer play with the markets by banning Bitcoin. Cryptocurrency cannot be killed by any country. One solution to centralized exchanges is decentralized ones. I hear the Decred Project team has something cooking that helps with that.”

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US market benefits

Prior to the nationwide Bitcoin exchange ban by China, the US exchange market had consistently secured its position as the largest market in the world.

However, almost immediately after the announcement of the country’s three largest Bitcoin exchanges, BTCC, Huobi and OKCoin, were released, traders moved over to the Japanese Bitcoin exchange market. The abrupt migration of traders led to the short-term surge in the trading volume of Japan, allowing the market to overtake the US by over 20 percent in global Bitcoin exchange market share.