Cheapair.com, which began accepting Bitcoin for payment last November, now accepts Litecoin and Dogecoin for flight and train bookings.
By the numbers, their bitcoin-based sales have been impressive: over $1.5 million in 7 months. Overstock.com, whose acceptance of Bitcoin continues to be a hot topic, reported $1.6 million in 5 months.
The company began accepting the two altcoins in response consumer demand. They have partnered with GoCoin to enable the payment functionality for the altcoins, although they continue to use Coinbase for Bitcoin payments.
How the FX Industry Can Benefit from Outsourced ITGo to article >>
The development is a shot in the arm for the two alts, which many had left for dead. They are trading higher today, despite Bitcoin remaining flat.
The use of digital currencies can be beneficial in cutting transaction costs in this low profit margin industry. CEO Jeff Klee commented:
“In general I am very supportive of alternative currencies and the technology is very promising….Big banks have such a stranglehold on commerce with their 3% per transaction fees. They need some competition and digital currencies are best suited to provide it.”
Cheapair joins Bitcoin Shop, another e-commerce platform looking to find shoppers the best deal, in accepting the two coins via GoCoin.