Expedia,World’s largest online travel agencies has accepted Bitcoin transactions as a form of payment currently restricting the trial to its US site.
The online currency whose value is determined by how much people are willing to exchange it for then transacted through a procedure called mining which involves a computer solving a difficult mathematical problem with a 64-digit solution.
A couple of smaller online travel sites already accept virtual currencies including Travel Keys and CheapAir but Expedia remains a high-end and major company that has adopted Bitcoin. The move comes after turbulent few months for Bitcoin which has been plagued by security concerns across the world.
This brings digital currency further into the consciousness of the mainstream. Expedia’s global vice president Michael Gulmann said the company was in a unique position to solve travel and booking for customers and partners alike by adopting the latest payment technologies.
The firm will however not hold the currency but will convert its Bitcoin deposits every 24 hours this is because Bitcoin is still massively volatile.