One of the Top 10 airlines globally for innovation has become the world’s first airline to accept Bitcoin as payment for its tickets to 60 destinations in Europe, Middle East, Russia and the CIS.
Latvian airline airBaltic now accepts Bitcoin as payment for tickets on its website www.airbaltic.com. The ticket prices on the website are displayed in euros. When airBaltic customers pay for their flight, their Bitcoins are converted into euros at the current exchange rate. To make accepting Bitcoin possible, airBaltic teamed up with Bitpay, a third-party payment processor that converts Bitcoins into euros. The Bitcoin payment option is available when purchasing the cheapest tickets, known as airBaltic Basic class.
Bitcoin is a software-based payment system introduced in 2009. Payments are recorded in a public ledger and bitcoin is its unit of account. Bitcoin payments are accepted by such companies as WordPress.com, Overstock.com, Expedia, Dell, and others.