No doubt you’ve heard of cryptocurrency, the digital currency that operates on the blockchain. As its popularity grows, the number of startups in the space has risen exponentially, and investors are buying up tokens in ICOs before companies even have a working product. One exception to that rule is CryptoCribs, a fully operational vacation rental platform that allows guests to pay with one of four accepted cryptocurrencies: Bitcoin, Litecoin, Ethereum or Bitcoin Cash.
CryptoCribs co-founder Erasmus Elsner is on a mission to disintermediate home-sharing, marrying the concept of Airbnb with that of cryptocurrency. Using the model of ‘reputation mining,’ the host’s fees are reduced with every booking and positive review until eventually no fees are incurred at all. CryptoCribs stands for freedom of communication between guests and hosts, and the startup is working to remove the middleman and allow guests to pay hosts directly through the platform.
The other major component of the CryptoCribs vision is to help people connect with the blockchain community, introducing Airbnb hosts to cryptocurrency through their platform. Today Erasmus explains the CryptoCribs’ booking and payment systems, discussing how its functionalities mirror the Airbnb platform. He walks us through the benefits of CryptoCribs, sharing how the startup has grown through word of mouth to 800 listings in just ten weeks. Listen in and learn how you can leverage CryptoCribs to set up your own crypto account, sync your Airbnb listings through the platform, and get paid directly—without the associated fees!
The fundamentals of CryptoCribs
How an ICO works
CryptoCribs’ booking and payment systems
The two ways hosts are paid on CryptoCribs
The volatility of Bitcoin and other cryptocurrencies
Who is hosting on CryptoCribs
The benefits of CryptoCribs
The Airbnb functionalities CryptoCribs doesn’t have yet
CryptoCribs’ partnership with Coinbase
How to post your listing(s) on CryptoCribs
This episode is sponsored by Hostfully.com where you can create a custom digital guidebook for your guests!