Destinia Exclusively Accepts Bitcoin Payments in Venezuela Amid Financial Chaos
Destinia, a popular online travel agency, has officially begun to accept bitcoin payments exclusively in Venezuela. The decision was made in light of recent financial crisis in Venezuela involving the demonetization of the Venezuelan bolivar and its rapid devaluation which ultimately rendered cash in the country worthless. Local travelers, residents and other people within Venezuela are now able to book hotel rooms and flights using bitcoin, a digital currency that served the general population across the globe as an alternative to cash and reliable store of value throughout 2016. Victor....
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Destinia, a well-known travel agency, has taken the decision to accept payments only in Bitcoin The Venezuelan economy is in shambles as the Venezuelan Bolivar’s value has been steadily decreasing due to the rigid exchange control in place since 2003. Concerned with the financial turmoil, Destinia has announced to operate exclusively in Bitcoins in Venezuela. Destinia, a well-known travel agency, has taken the decision to accept payments only in Bitcoin to further facilitate reservations by local travelers. Redditors weigh in the impact of the decision here. The company has seen a growth....
Given the current exchange rate to and from Venezuelan bolivar, Bitcoin makes a lot more sense than the national currency. The financial turmoil in Venezuela is affecting a lot of local businesses. But internationals service providers are also growing more concerned about what is going on there. Destinia, a well-known travel agency, has confirmed they prioritize Bitcoin payments for Venezuelan flights. With little confidence in the bolivar and the growing demand for Bitcoin, this could be a turning moment for the company. This decision by Destinia is quite surprising, although not entirely....
Venezuelan online travel agency Destinia will now only accept Bitcoin for payment citing “increasing restrictions” and economic woes in the country. Travel Agency Forced To Go Full Bitcoin. Travelers who use Destinia to make their travel reservations can now only pay in bitcoin. The company has made the decision after witnessing the impact of the free-falling Venezuelan economy. “The economic situation in Venezuela is ever more complicated,” the company explains. “Given the increasing restrictions faced by Venezuelans, Destinia has decided to operate exclusively in Bitcoins in order to....
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People in Venezuela adopting Bitcoin during turbulent times shows the cryptocurrency's potential to bring order amid chaos. Bitcoin has emerged as a savior for many in dire situations. The decentralized nature of Bitcoin, combined with its ease of use and secure nature makes it an ideal alternative for those in troubled economies or cut off from the traditional financial system. The economic condition of Venezuela and Bitcoin’s increasing adoption in the country has presented itself as a case study for mainstream and fringe economists alike. The mere mention of Bitcoin evokes mixed....