No doubt you’ve heard of cryptocurrency, the digital currency that operates on the blockchain. As its popularity grows, the number of startups in the space has risen exponentially, and investors are buying up tokens in ICOs before companies even have a working product. One exception to that rule is CryptoCribs, a fully operational vacation rental platform that allows guests to pay with one of four accepted cryptocurrencies: Bitcoin, Litecoin, Ethereum or Bitcoin Cash.

CryptoCribs co-founder Erasmus Elsner is on a mission to disintermediate home-sharing, marrying the concept of Airbnb with that of cryptocurrency. Using the model of ‘reputation mining,’ the host’s fees are reduced with every booking and positive review until eventually no fees are incurred at all. CryptoCribs stands for freedom of communication between guests and hosts, and the startup is working to remove the middleman and allow guests to pay hosts directly through the platform.

The other major component of the CryptoCribs vision is to help people connect with the blockchain community, introducing Airbnb hosts to cryptocurrency through their platform. Today Erasmus explains the CryptoCribs’ booking and payment systems, discussing how its functionalities mirror the Airbnb platform. He walks us through the benefits of CryptoCribs, sharing how the startup has grown through word of mouth to 800 listings in just ten weeks. Listen in and learn how you can leverage CryptoCribs to set up your own crypto account, sync your Airbnb listings through the platform, and get paid directly—without the associated fees!

Topics Covered

The fundamentals of CryptoCribs

Marry peer-to-peer currency with homesharing

Eventually allow guests to pay host directly

No intermediary, no fees

How an ICO works

Initial Coin Offering

Company presents white paper

Investors buy tokens

CryptoCribs’ booking and payment systems

Hosts have Instant Book option

Otherwise respond to booking request (24 hours)

Guest pays with cryptocurrency at checkout

CryptoCribs completes payout to host (24 hours)

The two ways hosts are paid on CryptoCribs

Receive same type of cryptocurrency guest used to pay

May choose PayPal option for first few bookings

The volatility of Bitcoin and other cryptocurrencies

May change in value during 24-hour period

Hosts accept risk associated with fluctuations

Who is hosting on CryptoCribs

‘CryptoNomads’

Techies 25-35 (mostly men)

The benefits of CryptoCribs

More efficient way to conduct transactions globally

Fees reduced with every booking, positive review

Reputation mining = no fees after 10 transactions

Promotes uncensored messaging, freedom of communication

One of few places to spend Bitcoin

The Airbnb functionalities CryptoCribs doesn’t have yet

Guest ability to split payments

Option to add guests

CryptoCribs’ partnership with Coinbase

Integration into Toshi mobile app

How to post your listing(s) on CryptoCribs

Same process as Airbnb

Admin staff will set up listings for you, sync to iCal

Connect with Erasmus

CryptoCribs

Resources

Coinbase

Toshi on Android

Toshi on iOS

Connect with Jasper

Email: jasper@getpaidforyourpad.com

Twitter: @GetPaidForUrPad

Instagram: @GetPaidForYourPad

Facebook: www. facebook.com/ getpaidforyourpad

This episode is sponsored by Hostfully.com where you can create a custom digital guidebook for your guests!

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