BITCOIN could soon be used at airports worldwide, as a major airport is the first in the world to accept it as a valid currency.

Brisbane Airport announced last week that customers will soon be able to use the Cryptocurrency when they go shopping in its terminal.

Brisbane Airport is the first airport to accept Bitcoin Credit: Rex Features

iT news reports that it’s happening due to a deal with a company called TravelbyBit.

The company's software will give the airport equipment to accept Bitcoin as well as Litecoin, Ethereum, Dash and Steem.

Roel Hellemons, general manager at Brisbane Airport Corporation said: "Many people around the world have made money investing in cryptocurrencies and a lot of these people travel internationally.

“So it makes sense to offer a digital currency experience within our terminals."

2 Customers will soon be able to use the Cryptocurrency when they go shopping in Brisbane's airport terminal Credit: AFP or licensors

Mr Hellemons added: "We're also proud to be the first airport in the world to achieve this in partnership with a small local start-up business such as TravelbyBit."

You can already pay for your hotel using the online currency.

Since 2014, Expedia have worked with software firm Coinbase to allow customers to book accommodation on their site using Bitcoin.

But as the currency fluctuates so quickly - will Brisbane Airport be able to accurately portray Bitcoin prices? Sean Keach, the Sun's Digital Tech and Science Editor says it will be tough.

Sean Keach, The Sun’s Digital Tech and Science Editor says: “Having more ways to pay is always great for the consumer – and spending Bitcoin is an easy way to avoid bank fees. “But it's going to be tricky to roll out a sensible Bitcoin payment system, because the cryptocurrency's value is so unstable. “A single Bitcoin today is worth around £8,000, which is way less than December's high of £11, 632. “Airport shops would surely need to update their prices minute by minute, otherwise customers could risk massively overpaying for products. “On the other hand, if Bitcoin's price suddenly rises (as is often the case) then travelling Brits could get huge savings using the virtual currency. “Growing interest in Bitcoin means we'll probably see more airports following Brisbane's lead in the future though – is Heathrow next?”

What is cryptocurrency?

Cryptocurrency is a digital money system designed to make transactions super secure.

The complex tender uses cryptography - a form of secret coding originating from the Second World War - to process transactions securely and to verify them.

2 Cryptocurrency is a digital money system that uses secret coding from the Second World War Credit: Reuters

A host of different currencies exist under the cryptocurrency banner.

The most well-known, Bitcoin, was created in 2009 as a form of digital money and world payment system.

Mining Bitcoin involves a computer solving a difficult mathematical problem with a 64-digit solution. For each problem solved, one block of Bitcoin is processed and the miner is rewarded with new Bitcoin.

Over the past year, Bitcoin has exploded in value and seen a drop-off afterwards - with a single coin worth £12,908 on December 20 sloping to £9,802.77 on January 1.

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Unlike regular money, the cybercash has no physical presence and differs from regular transactions by using decentralised control as opposed to central banking systems.

Normally in banking, corporate boards or governments control the supply of money by printing units of money or demanding additions to digital banking ledgers.

But in the world of cryptocurrency, the production of currency is generally capped. Bitcoin's younger brother Litecoin consists of 84 million units, for example, as opposed to its sibling's 21 million.

The same is true of "altcoins" - similar currencies which have been launched in Bitcoin's wake that include Ethereum and Ripple, a system to connect different payment systems together.