Travelers using cryptocurrency for booking arrangements spend more than twice as much as regular travelers using fiat money, according to a joint report from Binance Pay and crypto travel platform Travala shared with Cointelegraph.

Crypto-based bookings on Travala reached $80 million in 2024, up from $45 million the year before. Crypto travelers are also outspending their fiat counterparts, with an average booking value of  $1,211 per transaction, over 2.5 times more than fiat users who spend $469.

Additionally, the report said crypto users were three times more valuable over their lifetime due to longer stays and higher repeat bookings, with crypto travelers 57% more likely to make a repeat hotel purchase.

Source: Binance Pay, Travala

Juan Otero, CEO of Travala, attributed these travel preferences to the flexible nature of Web3 jobs:

“Many also work in the digital asset industry or have flexible, remote work lifestyles, which makes them more likely to travel frequently and stay in one place for longer while seeking out destinations that support seamless, global payments.”

Crypto-based transactions have become more common in the travel sector and beyond. Airlines that have integrated digital currencies into their booking systems have seen a 40% boost in bookings, with travel and hospitality representing 14% of all crypto transactions in 2024, according to a Feb. 21 report by Triple-A.

Related: Crypto spending will grow, but fiat isn’t going anywhere: Mercuryo CEO

The main benefit of using crypto for travel is its borderless, global utility, Jonathan Lim, the global head of Binance Pay, told Cointelegraph. “Travelers can skip currency exchange lines, avoid foreign transaction fees, and pay instantly using assets they already hold,” he added.

A growing number of crypto users also drives the increase in travelers using crypto to pay for trips. Triple-A’s report shows that cryptocurrency ownership has a compound annual growth rate of 99%, significantly outpacing the growth of traditional payment methods. Among crypto owners, 65% express interest in using it for payments.

Founded in 2017, Travala is among the most popular crypto-native travel platforms, which enables users to pay for services like flights, hotel stays and tours with 141 different cryptocurrencies, including Bitcoin (BTC) and USDC (USDC) via Binance Pay. 

Related: Bhutan launches tourism crypto payments with Binance Pay and DK Bank

Crypto payment covers more and more retail industries

The first real-world Bitcoin transaction — 10,000 BTC for two pizzas — occurred 15 years ago today, on May 22, 2010, now commemorated as Bitcoin Pizza Day. Since then, crypto payments have expanded into high-end retail, luxury goods and more recently, fast food.

First real-world purchase using BTC Source: bitcointalk.org

The first retail businesses to accept cryptocurrency payments were primarily targeted at high-income consumers. In 2021, fashion brand Philipp Plein became one of the pioneers in accepting crypto, followed by Gucci, luxury watchmakers Franck Muller and Norgain, as well as high-end car dealerships and manufacturers.

As the crypto holder base expands, more retailers are beginning to accept digital currencies for everyday transactions. On May 16, American fast food outlet Steak’n Shake began to accept Bitcoin as payment.

Yet even with the Lightning Network implementation, a Steak’n Shake customer revealed that a $5 burger could cost over $8 with network fees and take over 20 minutes to confirm payment.

Related: Bitcoin accepted at fast food chain Steak ’n Shake from May 16

With Binance Pay, payments are confirmed within seconds. Lim told Cointelegraph that’s because “Binance Pay operates as an offchain, closed-loop payment solution within the Binance ecosystem.”

Still, most crypto travel payments on Travala are made using stablecoins like Tether’s USDt (USDT) and Circle’s USDC (USDC). Binance Pay transactions are ultimately converted into fiat at the point of sale by the merchant or payment partner based on a predetermined exchange rate.

Magazine: Crypto is used for payments in Georgia, not to get rich: Tbilisi Crypto City Guide

Key takeaways

ChatGPT-powered AI agents automate trading tasks using natural language prompts and API integrations, improving speed and consistency.

Successes occur when ChatGPT is used as a support tool, not a fully autonomous trading system.

Failures happen when traders over-rely on ChatGPT without real-time data, proper risk management or manual oversight.

Regulatory focus on AI in trading is increasing, with new frameworks emerging to ensure transparency, accountability and compliance.

What if a crypto trader didn’t need to constantly check charts, worry about emotions, or stay up all night watching for sudden price swings? What if those tasks could be handled by an intelligent agent that understands instructions in plain English — and reacts within milliseconds? That’s where ChatGPT-powered AI agents come in.

These tools combine natural language processing with real-time trading logic to automate decision-making in one of the world’s most volatile markets. From rebalancing portfolios to reacting to market sentiment, ChatGPT is being adapted to act as a trading assistant, risk manager and market analyst — all rolled into one. 

But can it truly match or even outperform human intuition? This article explores how far these agents have come, where they shine and where they still fall short.

How ChatGPT-powered AI agents operate in cryptocurrency markets

ChatGPT-powered AI agents are changing how people interact with crypto markets. These tools combine ChatGPT’s language abilities with external trading tools and APIs to help users monitor prices, understand trends and even place trades automatically. Instead of just reacting to charts or numbers, ChatGPT can understand plain language commands like “Buy Ethereum if the price drops below $2,000” or “Sell Bitcoin if RSI goes above 70.”

These AI trading assistants can work with major platforms like Coinbase, Kraken, OKX and other centralized or decentralized exchanges and can also tap into decentralized finance (DeFi) tools and smart contracts. With the right setup, ChatGPT can help automate trading strategies based on both technical data and market news.

Success stories vs. failures in ChatGPT-powered crypto trading

Some traders have used ChatGPT to assist in automating parts of their crypto trading processes, particularly for strategy generation and sentiment analysis. For example, a user shared on Reddit that they used a ChatGPT-based AI agent for technical analysis on Ether (ETH), feeding it four-hour and daily chart screenshots. By interpreting market sentiment, support and resistance zones, and other indicators, they managed to make $6,500 in profits.

Similarly, in the broader crypto sector, ChatGPT has been applied to support project development activities such as drafting white papers and marketing content. A notable example is the launch of the “TURBO” memecoin, which reportedly reached a market capitalization of over $50 million in 2024. In this case, ChatGPT was used to streamline documentation and communication rather than manage trading activity, illustrating its usefulness as a support tool in crypto-related initiatives.

However, limitations are evident when ChatGPT is applied beyond its core design. While ChatGPT could suggest a trading portfolio and explain its reasoning clearly, it lacks access to real-time market data and couldn’t respond to sudden volatility. In one instance, ChatGPT was allocated $100 across multiple tokens but failed to actively manage the portfolio as prices fluctuated. This resulted in missed opportunities and underperformance compared to dynamic algorithmic strategies.

Individual experiences reinforce these observations. A Redditor exposed a scam where a YouTuber promoted a “ChatGPT trading bot” tutorial that led users to deploy malicious smart contracts. The contracts, generated using ChatGPT and passed off as safe, were designed to drain user wallets once funded. Victims collectively lost $17,240 in ETH, highlighting the danger of blindly trusting AI-generated code without proper auditing.

Even when asked, “If I use ChatGPT to build an AI agent for crypto trading, can I become a millionaire?” ChatGPT responded with a realistic outlook — acknowledging that while it’s possible, success depends on having a profitable strategy, disciplined risk management, and the ability to scale effectively.

Here is ChatGPT’s response:

These cases suggest that while ChatGPT can support certain elements of the trading process, it should not be treated as a standalone solution for autonomous crypto trading.

AI in crypto trading: Key benefits and limitations

AI tools like ChatGPT are increasingly being integrated into crypto trading workflows to improve speed, accuracy and efficiency. While they offer important advantages, they also carry specific limitations that traders must actively manage. Below are the main benefits and challenges:

Key benefits of using AI for crypto trading

AI bots can execute trades in milliseconds, crucial for capturing opportunities in fast-moving crypto markets.

Bots follow pre-programmed rules precisely, eliminating emotional biases that often affect human traders.

Crypto markets are always open, and AI bots can monitor and act around the clock without interruption.

A single bot can manage multiple trading pairs, exchanges and strategies simultaneously.

ChatGPT can understand specific prompts like “Rebalance every Monday” or “Set stop-loss at 5%,” allowing flexible automation.

Limitations of ChatGPT in cryptocurrency trading

ChatGPT does not access live market data unless specifically integrated with external APIs (e.g., TradingView, CoinMarketCap or exchange websockets).

Instructions must be clear and unambiguous; ChatGPT may misinterpret vague or complex commands.

Improperly secured API keys or lack of two-factor authentication (2FA) can expose trading accounts to unauthorized access.

ChatGPT’s cloud-based infrastructure can introduce latency, which could impact performance during highly volatile periods.

ChatGPT does not monitor regional compliance rules; users must manually enforce trading limits based on local regulations.

Ethical and regulatory implications of AI in crypto trading

As AI becomes more integrated into trading systems, it raises significant ethical and regulatory concerns that stakeholders across the financial sector are beginning to address.

Accountability: If an AI agent executes a harmful or unlawful trade, questions arise around legal responsibility. It remains unclear in many jurisdictions whether liability falls primarily on the developer, the trader using the AI system or the platform facilitating the transactions.

Market manipulation risks: Autonomous AI bots could unintentionally engage in activities such as spoofing (placing and canceling fake orders to mislead the market) or wash trading (creating artificial volume), especially if not properly programmed with compliance safeguards.

Regulatory oversight: Financial authorities, including the US Securities and Exchange Commission and the European Securities and Markets Authority, are actively studying the implications of AI and algorithmic trading. These agencies have recognized that traditional trading regulations may not fully account for autonomous decision-making by AI systems.

Policy developments: In January 2024, the European Commission released updates to its Digital Finance Strategy, which included references to AI-based financial services. While not yet finalized, these draft regulations under the broader Digital Finance Package signal a move toward stricter compliance expectations for firms deploying AI in financial markets.

Meanwhile, ethical crypto platforms are beginning to voluntarily disclose the use of trading bots in their systems. In parallel, open-source communities are advocating for clearer audit trails, improved model transparency and the establishment of ethical guidelines for AI applications in finance to ensure accountability and fairness.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Key points:

Bitcoin all-time highs matter little to those seeing a BTC price correction as long overdue.

Both the latest surge and the bull market itself are on borrowed time, traders say.

Comparisons to previous price cycles remain in use despite the booming institutional investment scene.

Bitcoin (BTC) traders are calling for a pullback after all-time highs and seven “green” weekly candles.

BTC price momentum continues to be met with skepticism as commentators assume that lower levels will come next.

BTC price roadmap prepares for Q4 “cycle peak”

Bitcoin hit its highest-ever levels this week, data from Cointelegraph Markets Pro and TradingView confirmed — but despite being up by a third in Q2 already, BTC/USD remains unconvincing for many.

Long-term analysis suggests that not only is price action due to return lower to consolidate gains, but that the entire bull market is near completion.

Among the latest prognoses calling for a “sanity check” is that of trading resource Stockmoney Lizards.

In one of its latest posts on X, it brought back a bull market roadmap from late 2023. 

#Bitcoin

This is our personal roadmap for this cycle. The most important key takeway message:

1. Bullish momentum will continue, driven by mass adoption (ETFs, big institutions buying)

2. We expect volatility and a possible correction in the mid-30ks in Q1 2024

3. New ATH in… pic.twitter.com/t9xJYCsUSU

— Stockmoney Lizards (@StockmoneyL) December 31, 2023

“In December 2023 we posted this BTC roadmap (lower picture). I overlayed the actual chart with the same TF. Price is a bit lower, however, timelines are fairly accurate,” it said.

The chart itself shows Bitcoin’s next “cycle peak” coming in Q4 this year, with the subsequent bear market taking BTC/USD back to 2021 highs of $69,000.

Others referenced historical BTC price action to argue for a more imminent correction.

Trader Crypto Chase noted that the price is now considerably higher than some typical bull market exponential moving averages (EMAs).

“Every time price deviates FAR outside the EMAs (circled areas), we always see a pullback,” he told X followers. 

“Even if that pullback if brief before more upside, it’s a pullback.”BTC/USD 1-week chart with 21, 50 EMA. Source: Cointelegraph/TradingView

The post acknowledged the presence of increased institutional buying power this cycle, something which could skew price performance in bulls’ favor.

Bitcoin “looks exhausted”

As Cointelegraph reported, various market participants have been expecting a significant comedown this month.

Related: $107K fakeout or new all-time highs? 5 things to know in Bitcoin this week

Support targets include everywhere from $105,000 to $90,000, with proponents seeing little fuel left in the bull market tank.

“This doesn’t mean downside is coming immediately, it just means the bull run is likely coming to an end and I’d rather not take the risk and hold spot here. See 2021 vs now,” fellow trader Roman wrote in an X update on the topic.

Roman described Bitcoin as “looking exhausted” based on relative strength index (RSI) bearish divergences.

BTC/USD 1-week chart with RSI data. Source: Roman/X

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.