How does a crypto payment get converted into the hotel's listed currency?
CoinGate converts your crypto payment to the hotel's fiat currency at the rate locked at checkout, so the hotel receives its full listed price.
Updated
What happens between your wallet and the hotel
When you pay a trip1 booking with crypto, three things happen in the background.
Step 1: Rate lock at checkout
CoinGate reads the market rate for the coin and network you selected and calculates the exact amount owed. That number is locked for the payment window - typically 15 minutes.
Step 2: On-chain settlement
You send the crypto from your wallet. Once the network confirms the transaction, CoinGate marks the invoice as paid.
Step 3: Conversion and payout to the hotel
CoinGate converts the crypto to the hotel's listed fiat currency (usually USD or EUR) at the locked rate. The hotel then receives its full listed price via CoinGate's settlement to trip1.
Why the hotel never sees crypto
trip1 uses CoinGate specifically so hotels don't have to accept, hold, or convert cryptocurrency themselves. From the hotel's perspective, it's a normal fiat booking. This is what makes crypto acceptance work at 3 million+ hotels worldwide.
trip1 crypto to fiat conversion - FAQ
The hotel always receives fiat currency in its listed amount. Hotels never touch or hold cryptocurrency when you book through trip1.
CoinGate, trip1's MiCA-licensed crypto payment provider, handles the conversion. CoinGate settles hotels in fiat, so the hotel never accepts crypto directly.
The market rate is locked at checkout when your invoice is generated. That rate is applied when CoinGate converts the crypto to the hotel's listed currency.
No hidden markup. CoinGate's fee is already included in the quote you see at checkout, so you pay exactly the amount displayed.
