Flying on a private jet is truly “living the dream” and in an effort to improve customer service, the private jet company Monarch Air Group has chosen to add Bitcoin as a payment method.
Interestingly, just this week, we also started to get queries in our own Luxury Travel Concierge concerning whether we accept Bitcoin as payment for our own luxury hotel and flight bookings. Like Monarch, we do but, it is only in the last few months that customers have requested the facility.
Rishi Maharaj, Executive Account Manager for Monarch Air Group said “In a world where the business aviation market is more of a necessity than a luxury, as an industry leader, Monarch, is among the first in line to evolve and accept the new currency. We at Monarch continuously enhance and streamline our booking process, with methods like digital contracts, live online quoting and no membership fee charter programs”.
Using Bitcoin or, I would argue Litecoin (like Bitcoin but faster), to pay for things like booking flights, means that you don’t even need to give your real name during the transaction, which may be an advantage for some customers. Monarch Air Group projects that during 2018 approximately between 3 to 5 percent of flights will be booked using Bitcoin as a payment mechanism. “It might be even more; a fact that wouldn’t come as surprise for us due to the steady increase in transactions registered on a yearly basis”, concluded Maharaj.
This solidifies Bitcoin’s position as the most prolific decentralized digital currency, currently to used for making real payments. It will be interesting to see how the business aviation market, where the main customers are CEO’s and top executives, choose to move on from here.
I would argue that right now is the time to buy and hold, rather than spend Bitcoin, but Monarch’s move does show that spending cryptocurrencies is becoming easier and more mainstream. Right now, Bitcoin seems to be on a roll With a current price of around $15,000 and predictions of Bitcoin being worth $100,000 – $2 million over the next 5-10 years. It might be just the time to jump on this bandwagon if you haven’t already. Investing in cryptocurrencies remains a gamble but one the most educated articles I have read trying to make sense of Bitcoin can be found on Moneyweek.
If you do decide to buy Bitcoin, make sure you set it up using a coinbase referral link like mine. Once you buy or sell $100 USD (£76) of digital currency or more, you will get $10 USD (£7) of free Bitcoin (as will your referrer, which on the link above would be me). To the moon…
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