The legality of cryptocurrencies all over the planet is not the same, it varies. In some countries, it is illegal while in others it is legal, but you don’t find many ways to spend it. However, some crypto friendly areas have emerged over the years with New York and London being two cities that have a crypto friendly environment.
Vendors in these cities accept bitcoin and other cryptos as a form of payment. However, not everyone can spend their crypto assets like this as for people living in non-crypto friendly regions, this is nothing short of just a dream.
One of the most prominent crypto tourist destinations is the last place you would imagine: Agnes Water, a small town on the east coast of Australia with a population of around 2,000 people. The 36 square mile of land called Agnes Water has more than 40 vendors that accept bitcoin as a payment, which translates into about 60-70% of businesses in the area.
People can pay vendors through digital wallets, and major cryptocurrencies including bitcoin, Ethereum, Litecoin and Binance coin are accepted by these vendors.
The town is the first area in Australia to embrace cryptocurrency across the board.The firm behind it all is TravelByBit, a company that allows users to book hotels and flights through cryptocurrencies. The town and TravelByBit have partnered up since 2018 to create crypto heaven for tourists. The CEO of TravelByBit said about their partnership with the town:
The critical thing we’re doing is allowing people to live entirely on crypto if they want to. All the way; from flights, accommodation, shuttle taxis, all the way up to this town [Agnes Water]. I want to invite anyone to try.
The crypto experience starts from the Brisbane International Airport where three duty-free merchants are participating in the crypto program by TravelByBit.
But the crypto destination hasn’t seen much success as it has seen only dozens of visitors where it was expecting hundreds to show up. While they expected millions in transactions, the town has only recorded sales worth thousands. An explanation can be the multiple roadblocks the tourists face while coming to the place.
They have a limited choice of destinations that when coupled with the fluctuating prices of cryptocurrency, makes the plan seem a bit shaky. However, the team behind the place are still confident that once the minority group of crypto enthusiasts starts coming to the place, the place will see a surge in visitors. A volunteer Ambassador for TravelByBit Gordan Christian said in an interview featured in a BBC documentary:
A lot of things are coming into play now that will make it much easier, including purchasing bitcoin. Our news agency just got signed up to Binance Lite
The new wave of crypto friendly cities popping up around the world has redefined the word crypto tourism, a word which previously was defined by Investopedia as big cruises with blockchain enthusiasts on them to these crypto friendly physical places that enthusiasts can visit. These tourists hubs are targeted at the real crypto enthusiasts and once they start coming in, these places might see a bump in their visitors overall.