We’re hearing more and more about “cryptocurrencies” like bitcoin, and slowly but surely, they’re starting to enter the travel sphere.

Cryptocurrency is basically a digital form of payment—one that’s not tied to a bank or any central institution. It’s hard to wrap your head around, but it’s out there and it’s becoming more accepted by mainstream companies.

Expedia is one of them, accepting bitcoin for hotel bookings. They work with a service called Coinbase to accept the virtual currency and then convert it into dollars.

Cheapair was one of the earliest adopters in the travel realm. You can actually book flights using several types of digital currency, including bitcoin and its alternatives, dogecoin [DOHJ-coin] and litecoin.

You can also use bitcoin to book hotels through GlobalHotelCard.com, which is powered by Orbitz.

So, should you trade in all your possessions for this new currency? Of course not. For one thing, the value of bitcoin is extremely volatile. Plus, the transactional process isn’t always seamless because it’s so new.

But it’s definitely something to keep your eye on in the coming years.

For more information, visit the Money, Currency & Credit Archives.

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