After Processing $5 Million In Bitcoin Payments CheapAir To Now Accept Ethereum


After Processing $5 Million In Bitcoin Payments CheapAir To Now Accept Ethereum

The first US online travel agency to accept Bitcoin in November 2013, CheapAir has since then processed Bitcoin payment worth more than $5,000,000.

Back in July 2014, the company that was introduced to cryptocurrencies by an intrepid customer who asked if he could use it to pay for a flight, processed $1.5 million worth of Bitcoin payments.

Accepting Bitcoin connected the company with thousands of new travelers as low transaction fees and security has been a win for the company and its customers.

Ethereum Is The Fifth Addition In Accepted Cryptos

Last year, CheapAir started accepting other cryptos viz. Litecoin (LTC), Bitcoin Cash (BCH), and Dash and now according to its CEO Jeff Klee, they will soon be accepting Ethereum (ETH) for air tickets payment.

“CheapAir is about to start taking ethereum which is new in addition to dash, bitcoin cash, and litecoin,” said Klee.

Klee further shared that a lot is changing how airline tickets are sold and airlines are going to “great lengths” to differentiate their products as “it’s no longer just about getting the lowest fare.” This is why CheapAir is currently focused on an infrastructure that will give the best travel advice and more reliable “apple to apple” comparison to the customers.

Challenge of Volatility & Crypto Customer Loyalty

However, processing crypto payments have its own challenges as Klee shared the most significant challenge came towards the end of 2017 when Bitcoin transactions fees skyrocketed just like its price.

Due to the high volatility of BTC price at that time, some of the biggest issues was overpayment or underpayment of crypto flight ticket payments. During this peak period when transaction fees were high, CheapAir experienced glitches.

Though the fees problem took care of itself when it came down, soon after Coinbase ended its merchant program with CheapAir. Since 2013 when CheapAir first started accepting crypto payments, it has been using the merchant support of Coinbase to process the payments.

While seeking alternatives, CheapAir found a reliable solution in BTCPay Server, an open-source bitcoin payment processor. With this switch, the travel agency was also able to bypass BitPay’s controversial BIP-70 wallet requirement that was a common problem while using a third-party payment processor such as Coinbase.

Now, Flee says CheapAir has better control of the payment process that further made “faster more efficient order processing than before.”

CheapAir is currently one of the biggest competitors for both crypto and fiat-based agencies in this ever-changing travel industry. And this success, Klee attributes to the devoted crypto community as he said he likes “customers who pay in crypto because they are loyal.”

Live Ethereum (ETH) Price:

1 ETH/USD =$4,142.8617 change ~ 9.69%

Coin Market Cap

$480.04 Billion

24 Hour Volume

$30.57 Billion

24 Hour VWAP

$3.72 K

24 Hour Change

$401.41

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide