PrivateFly’s cryptocurrency payments increased from 1-2% to 13%

13% of private fly's passengers are using cryptocurrency payments
  • Cryptocurrency payments for the private fly facility offered by PrivateFly have surged from 1-2 % to 13% in recent months
  • The firm also now offers the option to hold Bitcoin instead of converting the tokens for fiat
  • Following tech-savvy customers, the firm began accepting payments in digital form

Cryptocurrency payments are getting mainstream acceptance among British airline customers. Private Fly, a British airline offering private flights, revealed that last month 13% of all its private flies had been settled in digital assets like Bitcoin. According to the official release, one in ten of the airline’s private jet flights were being paid in Bitcoin, representing 19% of the total sales. The firm also mentioned that approximately 13% of the popularity to buy flights with crypto assets has surged in recent months.

Cryptocurrency payments count is soaring

According to the release of Private Fly, only 1% to 2% of the private fly passengers used to make cryptocurrency payments. In December, it was observed that the ratio of the payments has increased to 12%. On the other hand last month it was observed that the number has increased by 13%. With the increment in crypto payments, the firm’s revenue also surged by 19% over the last two months, as crypto-paid customers are spending more on flights than regular travelers. According to Adam Twidell, crypto payments have been offered for several years, but they are observed getting more popular in recent months since the crypto market rally.

PrivateFly also offers to hold Bitcoin and few altcoins

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PrivateFly led the way in 2014 as the global private jet firm to accept cryptocurrency payments. The firm’s new offered account entitled “Bitcoin Jet Account” allows the users to hold their cryptos by opening a membership and keeping their account funds in the digital currency. According to Twidell, few customers look to realize their gains while others want to hold onto their crypto transactions. For the fact, the firm is now offering a membership program that allows the funds to stay in Bitcoin instead of being converted to fiat currency. However, it is known that the regular patrons of the aviation firm can also create a membership account and deposit crypto funds regularly.

Why has PrivateFly begun accepting crypto payments?

The aviation firm offers one-off on-demand private flight facilities. According to Twidell, the private fly option has always sought to make private jet travel convenient to book. The firm combined innovative technology with deep industry expertise and secure backing, one of the largest private aviation firms. The firm claimed that most of the customers are tech-savvy, following all the facts and accepting cryptocurrency payments.

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Ahtesham Anis
Ahtesham Anis is a Computer Science undergrad student currently based out of India. Coming from the business background and his keen interest in Cryptocurrency and Blockchain technology is what Ahtesham brings to the table. He is always an eager learner when it comes to exploring the new technologies and topics in the crypto world.

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