Many experts believe that we could see an increase in cryptocurrency adoption across global industries in the next few years. Surprisingly, the hospitality industry may become one of the biggest adopters of bitcoin. Back in October, Swiss five-star hotel The Dolder Grand announced that they would be installed a bitcoin ATM at the hotel to allow guests to use cryptocurrency on the site.
“As of now, guests of the Zurich Hotel Dolder Grand can buy and sell cryptocurrencies on site – conveniently at the crypto ATM,” the hotel announced in a press release, “This is made possible by a device from the Swiss cryptocurrency financial specialist Värdex Suisse. The demand for cryptocurrencies has increased significantly since the outbreak of the coronavirus crisis. Many use the Värdex machines to gain initial experience with cryptocurrencies.”
This may not seem like a particularly big deal, but this move to normalize bitcoin in the hospitality industry could lead to some substantial trends.
The bitcoin ATM can be used to purchase bitcoin, bitcoin cash, litecoin, and ethereum with Swiss euros. The hotel is currently accepting bitcoin for booking rooms, food, cocktails, and spa treatments. The ATMs
In the wake of this new bitcoin integration, the number of hotels in Switzerland with bitcoin ATMs are expected to steadily grow. Crypto ATM vendor Värdex Suisse has since installed bitcoin ATMs in over seventy locations across Switzerland. Currently, there are about 102 cryptocurrency ATMs in the country, making it one of the top six countries to implement bitcoin ATMs for mainstream consumption. Outside of the Dolder Grand, a number of other hotels have invested in bitcoin ATMs, including Hotel 46a, Parkhotel, Hôtel Régina, Hilton Zurich Airport, and Hotel Hecht Gottlieben.
It certainly makes sense why. Crypto has boomed in 2020 in the wake of the coronavirus pandemic and is expected to continue growing in popularity. As the pandemic dies down, many investors in bitcoin are interested in traveling again. Just as well, bitcoin offers the untraceable privacy that many could be interested in when it comes to hospitality and travel.