Tripio is a hotel booking platform based on Blockchain. Now Tripio has expanded the payment options for its users. Users can now pay with the Binance cryptocurrency NBB and book 450,000 hotels and accommodations.
This is possible thanks to an officially announced strategic partnership between Tripio and Binance. The aim is to open up new opportunities for the 10 million users of the crypto exchange to use BNB coins.
The importance of acceptance by traders and platforms
In the last two years, large companies and platforms have announced that they will make payment with cryptocurrencies possible. These include, for example, Expedia, Microsoft and the computer games platform Steam.
However, various weaknesses in crypto currencies have made the efforts more difficult and in some cases brought them to a standstill. Long verification times, high volatility and a lack of liquidity contributed to an environment that made it difficult for traders to accept crypto currencies.
In May of this year, John Rainey, PayPal’s Chief Financial Officer, said:
“If you’re a merchant and you have, let’s say, a 10 percent margin on a product that you sell and you accept bitcoin, for example, and the very next day it moves 15 percent, you’re now underwater on that transaction,” Rainey said in the exclusive interview.
“So what happens, or what was happening, is they were immediately moving that to a more stable currency,” the CFO continued.
However, many of these problems have now been resolved or at least alleviated.
Merchants have long been looking for an alternative to PayPal and legacy systems, which usually charge high fees. The crypto currencies offer an efficient and practical alternative. Nevertheless, cryptocurrencies have not yet arrived in the retail world and there are likely to be some hurdles to overcome before this can be done.
The current partnership between Binance and Tripio represents a good step forward in this respect and should contribute to the further adoption of cryptocurrencies.
The next steps
In order to further spread the cryptocurrencies in trade, it is important to persuade other large traders to accept the cryptocurrencies. This could become easier in the future, as the infrastructure of cryptocurrencies is constantly being expanded. In the long run, awareness will also continue to rise. It can
One could also cope with the much-suffered volatility that has so far deterred some traders. Future regulations and tested stable coins should contribute to this.
The community itself can help by diligently using cryptocurrencies and asking traders and platforms for them. Everything contributes to the development of the infrastructure and this should in the future cause further merchants and large platforms to accept cryptocurrencies as a means of payment.