Crypto-themed Hostel Opens In Paraty, Brazil

News | August 28, 2018 By:

A cryptocurrency-themed hostel has opened in Paraty, a city located about 260 kilometers away from São Paulo, Brazil.

Hostel Bitcoin, launched on August 16, was created by Alessandro Santos, a Brazilian architect, engineer, and self-described bitcoin aficionado. Santos, who has been living in Paraty for three years, said that he decided to invest in the hostel after noticing that most foreigners who visited the area were interested in bitcoin. He added that all the services offered at the hostel, including meals and tours, can be paid for with cryptocurrency.

“I am well on the route of the waterfalls, where several jeeps pass daily with these tourists and the attention they give to the theme is notorious, Santos said. “Some even ask the jeeps to stop to take photos of the hostel.”

At first only bitcoin will be accepted at the establishment, but Santos said the hostel will eventually accept XRP, Monero, and “what we can get through a simple account at an exchange like Bittrex.” The owner hopes that success at his hostel will help boost acceptance of cryptocurrencies for payments at other Paraty tourism businesses.

“I believe that, having good acceptance, we will be able to expand to the other inns and restaurants in the city,” Santos said.

Paraty is a small town backed by mountains on Brazil’s Costa Verde, between Rio de Janeiro and São Paulo. Paraty has become a popular tourist destination in recent years, renowned for the historic town and the coast and mountains in the region. Dozens of pristine beaches are within a couple of hours of Paraty by boat or bus, while inland, the Parque Nacional da Serra da Bocaina provides protection for a lush remnant of Mata Atlântica (Atlantic rainforest). The Brazilian government has recognized Paraty as a National Historic Site since 1966.