Buying A Yacht With Cryptocurrency
While the idea of digital currency has been around for decades, it wasn't until an anonymous computer programmer created Bitcoin in 2009 that cryptocurrency began gaining momentum. Since then, the concept has exploded, with thousands of cryptocurrencies in circulation and an increasing number of industries embracing this digital form of payment, including the superyacht industry.
At IYC, we want to ensure our clients can stay one step ahead of the latest technological developments, which now include financial transactions. As cryptocurrency transactions have emerged as a viable option for yachting, we recently partnered with the leading cryptocurrency payment trading platform, Bitcashier. The platform provides an easy and accessible all-in-one solution for yacht sales and yacht charter related services. This collaboration allows our clients to use Bitcoin, USDT, or other popular cryptocurrencies seamlessly and efficiently.
How Does It Work?
Once an invoice is generated, a client can scan the QR code generated by Bitcashier; the platform then calculates the price of the yacht or yacht charter services in a chosen cryptocurrency and provides a payment option at a real-time rate.
The client then sends the cryptocurrency via Bitcashier, and the next business day, the platform converts this to fiat currency and sends it to any bank anywhere in the world. The client has then paid in cryptocurrency, and the seller is paid in fiat.
The Benefits
Here we outline some of the benefits of purchasing with cryptocurrency payments via the Bitcashier platform:
Private And Secure
One of the most significant benefits of using cryptocurrency for yacht purchasing or charter is its enhanced privacy and security. Blockchain technology, which underpins all cryptocurrencies, provides security and anonymity that traditional financial transactions cannot match. Each transaction is recorded on a decentralized ledger without third-party intervention, making it difficult to manipulate; this adds an additional layer of privacy for our clients looking at substantial yachting purchases.
Quick And Efficient
Cryptocurrency transactions can be processed much faster than traditional bank transfers, especially when it comes to international purchasing. While a wire transfer may take days to clear, particularly across borders, a cryptocurrency transaction can be completed by the next business day. This fast processing element makes purchasing a yacht or charter services even more beneficial when there are time constraints involved.
Cost-Effective And Global
Typically, cryptocurrency transactions involve lower fees and rates compared with traditional banking, especially for larger and international purchases. The decentralized nature of blockchain technology eliminated many of the other intermediaries engaged in conventional transactions, reducing associated costs. These savings can significantly impact high-value purchasing, like a yacht. Purchasing in yachting is usually cross-border; cryptocurrency can avoid many of the complexities associated with cross-border payments, making it a borderless transaction without worrying about exchange rates or international banking fees. The Bitcashier platform executes trades across over 15 major listed exchanges and multiple OTC exchanges to ensure you get the best price on each trade.
Streamlined And Verified
Cryptocurrency also significantly streamlines a purchasing process; while due diligence is still necessary, the blockchain's transparency can simplify many processes, leading to a smoother experience. All transactions are placed on the publicly distributed blockchain ledger, allowing anyone to search for transaction data; this transparency can work toward reducing fraudulent transactions. The Bitchasier platform is also fully regulated, compliant with European regulatory standards, and insured.
Using Cryptocurrency With IYC
Our partnership with Bitcashier ensures we are well-equipped to handle cryptocurrency transactions safely and efficiently. Giles Whitby-Smith, CEO of Bitcashier, comments: "Our collaboration with IYC represents a pivotal step in transforming how high-value transactions are conducted in the yachting industry. By integrating cryptocurrency, we provide a secure, efficient, and modern payment solution that resonates with the future of financial transactions."
We are always committed to providing forward-thinking approaches to our clients and, therefore, new solutions that make the process of getting into yachting as smooth as possible. As this digital field evolves, we expect to see it play an increasingly significant role in the yachting sector, offering new levels of privacy, efficiency, and convenience. Contact one of our experienced consultants to learn more and explore new purchasing options.
Photos by Art Rachen on Unsplash,