• Novotel Bahrain Al Dana Resort is accepting crypto payments for items such as room stays and other vacation staples.
• The move is pushing the goals of cryptos closer to being achieved as they were initially designed to serve as payment tools.
• This is an important milestone in the region, with STC Bahrain announcing it would start accepting crypto payments for utilities and similar items last year.
Novotel Bahrain Accepts Crypto Payments
The Novotel Bahrain Al Dana Resort – one of the most luxurious hotel spots in Manama, the capital of Bahrain in the Middle East – has announced it will be accepting crypto payments for items like room stays and other vacation staples. This move is pushing the goals of bitcoin and its digital counterparts closer to being achieved as many were initially designed to serve as payment tools.
Eazy Pay Services
Novotel has signed an agreement with crypto firm Eazy Pay to provide them with technology needed so they can accept assets like bitcoin, Ethereum, and others. Eazy Pay’s services are also supported by the Binance mobile app, making it easier than ever before for customers to pay using cryptocurrencies.
Crypto Arena Growing in Bahrain
This is an important milestone in the region, with STC Bahrain announcing it would start accepting crypto payments for utilities and similar items last year. Despite a crash in 2022, the cryptocurrency arena appears to be growing rapidly in Bahrain. Last November, Carlton Real Estate also announced that clients could purchase property using BTC or ETH if desired.
Volatility Challenges
It’s hard to predict when bitcoin and its family members will go up or down when it comes to their prices due to volatility – something which makes stores and companies reluctant when it comes to saying „yes“ when it comes to accepting crypto payments. Consider a scenario where someone walks into a store and buys $50 worth of merchandise with bitcoin but 24 hours later after not trading BTC into fiat right away, the price goes down leaving them out of pocket?
Conclusion
It’s encouraging that businesses like Novotel are recognizing initial purposes of bitcoin & digital currencies & trying transform them into usable tools that everyday people can benefit from. It’s an important step forward towards achieving these goals while providing customers with more options on how they can pay for products & services – even those from luxury resorts!