The Best of Exmoor, a UK holiday cottage lettings company, are the first of its kind now accepting Bitcoin payments
As the popularity of cryptocurrency rises, it's unsurprising to see it become more readily available as a digital payment option. The perception of cryptocurrency has changed in recent months, from that of an asset class to be held or sold, to a form of finance you can readily use, validating it as a legitimate way to make purchases. And, more and more, businesses across various industries are adopting cryptocurrencies as an alternative payment method. But, until The Best of Exmoor, we hadn't yet seen any holiday cottage rental companies make this move.
The Best of Exmoor is a small, family run, holiday lettings company, specifically based on Exmoor. They let holiday cottages & self-catering accommodation sleeping from 2-19 guests, across Exmoor National Park and its surrounding areas. The majority of their properties are in quaint countryside or coastal villages like Porlock, Dunster, Dulverton, Withypool, Malmsmead, Lynton and Lynmouth, and there are all sorts of options further off the beaten track too.
Managing Director & founder of the company Chris Lister told us: "We hope this will open up a world of convenience and flexibility for travellers seeking beautiful & unique holidays on Exmoor."
The Best of Exmoor are now accepting standard Bitcoin and Bitcoin Lightning payments. Both are completely fee-free payment methods, and Lightning payments are also instantaneous. This development aligns with the evolving landscape of digital finance, and it's exciting to see small independent businesses embracing that.
It's interesting that The Best of Exmoor has pipped the big holiday letting players like Airbnb and Booking.com to post on this. They are already different business models, of course. The Best of Exmoor curates & manages the properties it lists, ensuring quality control and hands on customer service. (As they say on their website "we know all our properties & owners like family".) But now, they're unique in a new way.
The company aims to bring more business to Exmoor, championing local favourites and encouraging people to enjoy the spectacular scenery and all that the area has to offer on their brilliantly informative and inspiring blog. One wonders: if there was a comprehensive list of all the local businesses where you could spend your cryptocurrencies like cash, would we see a rise in sales from those businesses to cryptocurrency holders?
Lister said "I think people want to shop local & support smaller, independent businesses where they can these days. So, hopefully, by accepting Bitcoin, we're just making it easier for more people to do so."
When asked why The Best of Exmoor opted to accept Bitcoin & Bitcoin Lightning payments specifically, they said: "As the pioneer of cryptocurrencies, Bitcoin stands out as the go-to option. It's trusted and, unlike some other cryptocurrencies, Bitcoin isn't controlled by any big-shot central authority. This means more security and privacy for transactions. Plus, it's easy to turn Bitcoin into cash, thanks to its reputation, acceptance and liquidity."
Not only does this move provide an alternative payment option but it means The Best of Exmoor is the first holiday cottage company in the world to enable travellers to easily bypass traditional banking systems and associated fees. It streamlines the payment process, allowing for instant and borderless transactions, regardless of location. This should therefore be advantageous for international travellers too, eliminating the need for currency exchange and reducing the risk of potential currency fluctuations.
Despite the cost of living crisis, the number of people going on holiday in 2023 has actually gone up. Perhaps people being deprived of travel and tourism through the Covid years has made people value their holidays more, so they are cutting costs & compromising elsewhere instead. With times as tough and expensive as they currently are though, it goes without saying that many people have less disposable income than they might have had in the past. Perhaps Bitcoin holders will be more inclined to take further holidays, or holidays in locations they had not previously considered, if they don't have to use their limited liquidity to do so.
Lister added, "we passionately believe Exmoor to be a uniquely magical place and we want people to come and enjoy this beautiful part of the world, so we're excited to open up new possibilities for that by making moves like this".
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