A Beginner’s Guide to Travala.com
According to CNBC reports, millennials are making travelling a priority more than any other generation before. The average millennial plans to take about five trips in a year, and of these, three are international. The generation is still the primary demographic holding on to blockchain and cryptocurrencies. A millennial is five times likely to say Bitcoin is the best way to save than any older adult. Generation Y is more inclined to a life of fun, leisure, and technology, and Travala.com is here to make the dream a reality for millennials and the world.
What is Travala.com?
Travala.com is a Binance-backed flight, hotel, and accommodation booking service that leverages cryptocurrency and blockchain technology in its operations. The platform was founded and launched in 2017 by travel, fintech, and blockchain technology experts. Its primary focus was targeting the high-value blockchain and cryptocurrency community that has long been neglected in the travel and booking market.
Travala.com is built on the premise that the cryptocurrency community comprises tech-savvy, highly-educated, and future-oriented individuals. They are more likely to travel in pursuit of expanding their horizons. As such, the team commits to providing these individuals and the world at large with a platform that connects them to the world’s best selection of incredible accommodation. Travellers enjoy up to 40% cheaper prices and a frictionless booking service that integrates blockchain technology and tokenized incentives through the platform’s native crypto AVA.
Travala.com’s AVA Token
AVA is the native crypto coin on the Travala booking platform. It is a BEP-2 token standard and the primary user incentive feature of the network. Based on the Travala.com whitepaper, the token has a total supply of 61,125,269 and a circulating supply of 50,998,000. The token, however, follows a quarterly repurchasing program that aims to destroy 21,571,086 AVA permanently. AVA trades at $2.24 and has a 24-hour trading volume of slightly over $3 million.
Although AVA is the native cryptocurrency on Travala.com, there are additional payment methods for bookings payment. The platform has included about 35 new cryptocurrencies as payment options since 2019 and is still looking to partner with other projects. Project owners can apply to add their cryptocurrency as a payment option and boost adoption.
Travala.com supports conventional payment methods, but AVA can be used as the sole payment option for special offers. Travellers can use it for activating discounts, collateral for DeFi, givebacks, loyalty rewards, or a store of value. Travel agencies and hotels can also use the token to pay for their product’s priority seeding in search results. AVA token owners can recoup the token directly for its fiat equivalent at any time.
How Can You Get AVA Tokens?
Travala.com users can make payments in other cryptocurrencies. However, the AVA token provides a range of benefits, including special discounts on bookings, reduced transaction costs, and reduced settlement times. In general, the platform’s value proposition is supported by the token. Customers can acquire AVA through:
The Open Market
If you want to use AVA to pay for bookings, you can access the token directly from the open market. It is available on exchanges including Binance, KuCoin, WazirX, Poloniex, Hibtc, MXC Exchange, Hoo, Simpleswap, Simplex, ChangeNow, Binance Dex, Moonplay, Coingate, and Probit Korea.
Users can earn AVA through givebacks that happen when they complete transactions on Travala.com. The platform has a unique program aimed at putting the cryptocurrency in the hands of the masses by giving back 2% of every booking price in AVA.
Users can give referrals to family and friends and earn AVA for them. The user receives $25 worth in AVA every time a referral completes a booking on the platform.
Travala.com’s SMART Program has exciting discounts and rewards. They include up to 5% discounts and a similar percentage of loyalty rewards on millions of hotels across the globe. There is also an 8.04% bonus paid out monthly and an extra 3% discount for travellers using AVA as their payment option.
The tokens earned can be saved for future bookings or committed to the SMART Program. The SMART program involves a traveller locking AVA tokens in any of the five available tiers and then receives corresponding amounts in discounts and loyalty rewards.
Travellers also receive rewards on the reviews they leave on Travala.com. One can only give a review after a confirmed booking and stay. The rewards are received in AVA.
Travala.com On Decentralization
Other than supporting frictionless travel and accommodation booking in crypto, Travala.com implements decentralization in its business model. The platform integrates decentralization in accommodation booking and eliminates the need for intermediaries, and travellers benefit through reduced fraud and lower fees. It also envisions a decentralized salesforce driven by token incentives to help the platform reach global scalability.
Other areas where Travala.com leverages the decentralization powers include decentralized governance, where AVA holders have voting rights on specific issues, referral systems, and reviews.
Travala.com is operating in a fast-changing industry, integrating cutting-edge and futuristic technology. Globally, the travel and tourism industry contributed $2.9 trillion to GDP in 2019. The cryptocurrency market, on its side, is predicted to hit $1.8 billion by 2027. As a platform leveraging the potential in two industries, Travala.com is set to be a force to reckon with soon. It’s notably the first platform that provides more use cases for cryptocurrency in a significant industry and provides solutions to some of the limitations facing crypto users. For example, the team has an innovative solution for the refund problem on cryptocurrency transactions using BUSD as the payout currency for refundable bookings in crypto.