Bitcoin & cryptocurrency payments for private flights
In addition to our mainstream payment options, PrivateFly accepts Bitcoin and other cryptocurrencies including Bitcoin Cash, Ethereum and 4 USD-pegged stablecoins (GUSD, USDC, PAX, and BUSD) payments for our on-demand private jet flights and membership options - including our PrivateFly Bitcoin Jet Account. Here's how it works.
When & why did PrivateFly start accepting Bitcoin for private flights?
PrivateFly was the first global private jet company to accept payment in Bitcoin, when we started doing so in January 2014.
We began to accept payment in Bitcoin in response to client demand, at a time of rising interest in the cryptocurrency. And as our ongoing aim is to make booking a private jet as seamless a process as possible, it was a logical addition to our payment options.
With Bitcoin payment being fast, flexible and not subject to banking hours, it can be a very practical choice for private jet clients. Over 20% of our flights are booked for the same day or next day departure, so often clients are looking to make payment quickly.
How does PrivateFly process Bitcoin payments?
For clients who wish to pay in Bitcoin for a one-off flight (on-demand), we will usually quote for the payment in euros and then use BitPay to process the payments in Bitcoin. BitPay is a leading payment technology provider, which acts as a secure gateway between the client and a retailer - such as PrivateFly.
The client makes payment from their secure BitPay payment wallet. We then convert the payment instantly to euros, sterling or dollars to minimise currency fluctuation risks.
The PrivateFly Bitcoin Jet Account
Becoming a Jet Account member with PrivateFly gives enhanced services for frequent flyers who place funds on account - including streamlined booking and preferred cancellation terms. The PrivateFly Bitcoin Jet Account allows you to place funds on account in Bitcoin, with flights charged against the account balance, according to the cryptocurrency’s value at the time of the booking – much like any other currency.
Alternatively those who want to leave their Bitcoin untouched can opt to put Bitcoin funds in their PrivateFly Jet Account but then pay for each flight in another currency, with the Bitcoin account funds acting a security deposit to give the benefits of membership.
The digital asset platform used by PrivateFly is Bitgo and the exchange rate used for Bitcoin at PrivateFly is http://www.cryptodatadownload.com/data/bitstamp/
Can I buy a Jet Card with Bitcoin?
The PrivateFly Jet Card gives members guaranteed and priority access to their preferred aircraft category, with fixed hourly rates, short notice booking and cancellation terms, and 24/7 service through a dedicated Personal Account Manager. Jet Card memberships can be paid for in Bitcoin via BitPay, with the payment then converted to euros, sterling or dollars.
Other cryptocurrency payments
We can also take payment in other cryptocurrencies including Bitcoin Cash (BCH), Ethereum (ETH), and 4 USD-pegged stablecoins (GUSD, USDC, PAX, and BUSD). If you want to pay with another cryptocurrency please contact our team to check rates.