Charter Using Crypto
Bitcoin has been in the news a lot recently, with its value soaring after Elon Musk’s Tesla announced they had invested $1.5bn in the world’s most valuable crypto currency.
Private, secure and efficient – it’s easy to see why crypto payments are on the rise for everything from cars to yachts and beyond.
Here we answer your burning questions on crypto and its uses in yachting.
Demystifying crypto and yachting
What is crypto currency?
A new form of money, crypto currency is decentralised and not controlled by an organisation or government, but traded peer-to-peer.
This means anyone can transfer any whole or partial amount of Bitcoins to a business or another person instantly, with each transaction entered into a publicly-available ‘ledger’.
The ledger uses blockchain technology to ensure security and avoid manipulation – the currency is supported by immutable maths instead of banks or governments.
Why use it for yacht charter bookings?
There are several advantages of using crypto currency for yacht charter, including:
- Privacy – once you have acquired coins, they are effectively cash in your pocket, only more secure, and you can send them anywhere in seconds.
- Speed – instantaneous transfers mean crypto currency works to your schedule. No more waiting for banks to process charter payments. Set up is also fast, and wallets can be set up in a matter of minutes, unlike bank accounts. You can book on a Friday evening, pay instantly, and board on the Saturday!
- Cost – transactions are done not just in a fraction of the time, but at a vastly reduced cost, too - you don't have to worry about credit card fees, because there's no bank trying to profit from the transaction.
Is it safe? Are there risks?
Yes, thanks to the blockchain technology, all transactions are incredibly secure and traceable.
As it’s still an emerging form of exchange, crypto currency is a little volatile, and so coin values may fluctuate.
This can obviously be both a positive and a negative.
How do I get Bitcoin?
The simplest way to acquire cryptocurrencies is through a coin exchange, where you purchase a set amount at the daily rate – just like you would to exchange dollars, euros, etc.
Once you have the bitcoins, you can spend them as you like. And the yachting industry is increasingly accepting of this new payment form.
So I can book charters with crypto?
Yes. HELM now accepts crypto currencies including Bitcoin, Ethereum, Litecoin and more as payment for charters, and also for yacht sales.
Ask us for more details.
Are you ready to convert crypto currency to unforgettable memories?