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You Can Now Buy A Yacht With Cryptocurrency

Yacht Cryptocurrency payments are becoming an increasingly viable option in our modern world; from works of art to property, an ever-growing number of purchases are possible with popular cryptocurrencies such as Bitcoin. The superyacht industry has picked up on this trend and many prolific companies are starting to realise the value of offering less traditional payment options for clients. Join us whilst we explore the current cryptocurrency trend in the superyacht industry.

What Is Cryptocurrency?

Put simply, Cryptocurrency is a new type of money that is decentralised and not controlled by any organisation or government but instead traded peer-to-peer. This means that anyone can send any number of Bitcoins to a business or another person in an instant, and each transaction is recorded on a publicly accessible ‘ledger.’ To enhance security and resist manipulation, the ledger use blockchain technology; the currency is backed by immutable math rather than banks or governments. Cryptocurrencies are private, secure, and efficient, which is why they are so popular.

How Long Have Yacht Cryptocurrency Payments Been Possible?

One of the first companies to introduce cryptocurrency as a method of yacht payment is Denison Yachting . Back in 2016, the company made cryptocurrency payments possible for customers wanting to purchase a yacht. It was a success, and in 2018 Denison decided to venture further into the crypto world by extending this payment system to yacht charters. The idea to extend Crypto to chartering came after Bob Denison chartered a boat using Bitcoin back in 2017. Worldwide yachting is another early adopter of Crypto payments, with eight Crypto bookings since 2018. Amongst the boats booked are 39m  Oceanfast Oculus , 38m Heesen Sea Axis   and 40m Splendor  Kashmir . Speaking to Boat International, Jason Carter of Worldwide Boat commented “Overall, cryptocurrency represents 0.5% of all global wealth now. So it makes sense for to become part of this equation”.

How Many Companies Offer Crypto Payments?

These days, more and more companies are hopping on the Crypto train. In the past few months, many companies such as Monaco Yachts and Helm have made Cryptocurrency payments possible. It’s a smart move to make sure they stay on top of the latest trends and don’t fall behind the competitors. Amongst the recent Crypto companies are Dynamiq Yachts , which recently announced the addition of Cryptocurrency as a new payment method for the financing of their new build yachts. In other news, the popular charter vessel M/Y Loon announced recently that guests can now charter using Cryptocurrencies such as Bitcoin, ETH, BCH and DOGE.

Looking at the overall trends and demand for Crypto purchasing options, it looks like the new payment method will keep gaining traction. Although industry giants such as Lurssen and Feadship haven’t yet got on board with Crypto, it can’t be long before they too take the plunge.

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How to buy a yacht (boat) with Bitcoin in 2023

Interested to buy a yacht with Bitcoin? A lot of famous people do this, so why can’t you? It is absolutely possible to do so. In this article, we will take a look at the ups and downs of this process and explain how exactly these transactions take place. 

Buy a yacht with Bitcoin: Pros & cons

The advantages include:

• Speed. Crypto transactions are instant, so you don’t need to wait days for your bank to process the payment. 
• Safety. Fraud is next to impossible with crypto. 
• Anonymity. If it’s something you need.
• No need to withdraw crypto if you already have some. 

The disadvantages? Well, just a few:

• If you are an entrepreneur it’s impossible to claim this purchase as a business expense as crypto transactions aren’t taken into consideration by the tax office
• It’s not that easy to find vendors that accept crypto, but we will help you with this in our article. 

How to buy a yacht with Bitcoin

As we just said, the main challenge is to find a seller who is happy to take your Bitcoins instead of dollars or euros. Here BitcoinWide can help you a lot, as on our website we gather all businesses that accept crypto payments. And you can search for a needed business in 4 ways: 

• Usual search bar
• Search on the map
• Search by category
• Search by cryptocurrency

After you found a seller you like, follow the link to their website. Payment can be done as a direct transaction to a seller’s wallet or in another way that a seller prefers. 

A list of businesses where you can buy a yacht with Bitcoin

Here are sellers that definitely take Bitcoin as a payment method:

• Ocean Independence
• Sunshine Cruising Yachts
• Camper & Nicholsons
• SuperYachtsMonaco
• Denison Yachting
• TheYachtBreak
• Oxyzen Yachting
• 26NorthYachts

If you want to buy a boat with Bitcoin it is easy to do so as many merchants are willing to accept crypto these days. Hopefully, our website and this article in particular helped you to make the right choice. 

FAQ: How to buy a yacht with BTC

Yes, you can. There are numerous businesses that accept BTC nowadays, and yacht merchants are on this list as well. Check out our list of businesses that would happily accept your Bitcoin as a form of payment. 

Yes, it is possible. Boats can be sold for BTC (Bitcoin) , ETH (Ethereum) , USDT (Tether) , and other popular crypto coins. To find merchants who accept crypto as a form of payment, visit BitcoinWide as we have the biggest choice of sellers who take crypto. 

Denison Yachting , SuperYachtsMonaco , Camper & Nicholsons , and Sunshine Cruising Yachts accept crypto for all kinds of boats. You have a wide range of options, including superyachts, motor yachts, catamarans, trawlers, sailboats, and everything in between.

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236-Foot Superyacht Can Be Bought with Bitcoin

• By Kim Kavin
• January 20, 2022

It has been just 12 years since Bitcoin was launched in 2009. The yachting industry started hearing serious buzz about the cryptocurrency in 2014, when Denison Yachting began accepting it. By 2018, Denison had closed two brokerage deals and a charter booking on a 120- to 130-foot motoryacht, all paid for in bitcoins, but overall, the industry’s adoption of bitcoin has remained slow, especially at superyacht levels.

Until now. In September, Camper & Nicholsons Interna tional announced that the owner of the 236-foot CRN Azteca is willing to accept bitcoin for the yacht, at an asking price of about $75 million. It’s believed that the 2010 build is the largest-ever yacht available for purchase with bitcoin.

“The owner of Azteca owns a bank and is a very big bitcoin dealer,” says Camper & Nicholsons International sales broker Fernando Nicholson. “I approached the idea with another client, and he asked me if I was drinking some kind of weird alcohol. But with the owner of Azteca , I think he is trying to attract the attention of the new, rich, young guys. The IT industry understands bitcoin, and those guys might make an offer if you talk in their language.”

Azteca’s owner already has a team of bitcoin-savvy attorneys, and they’re advising Nicholson, who says accepting bitcoin is the owner’s prerogative.

“We have a boat to sell, and the client can accept any kind of thing,” Nicholson says. “He can accept 10,000 pigs or a painting.”

The bitcoin option just might work. At the Monaco Yacht Show in September, Nicholson says, an American flew over specifically to see Azteca . “He was talking about bitcoin—he was talking about it a lot,” Nicholson says. “I think he’s in his 40s. It might happen, it might not, but I don’t believe it’s a fantasy.”  

Azteca : A Big-Deal Yacht

Azteca is a high-volume yacht, with a beam just over 44 feet and gross tonnage of 2,043. When it launched in 2010, it was the largest vessel that Italy’s CRN shipyard had ever constructed. The sun deck spans more than 3,500 square feet, and the beach club is nearly 1,200 square feet with an outdoor bar. Accommodations are for as many as 20 guests, with quarters for 25 crewmembers. 

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Anyone Want to Buy a Yacht for $115 Million in Crypto?

Talk to crypto’s true believers and they will gush about how decentralized technology will bring freedom, financial equality, cultural and economic revolution — but if you really want them to turn out to an event, put it on a yacht.

On Tuesday night, the particular yacht in focus was Bold, a 280-foot boat — complete with two helipads and the celebrity DJ Marshmello — that was hosting a party whose sponsors included cryptocurrency exchange Coinbase, talent agency UTA, and Thoma Bravo, the tech-focused private-equity company. The occasion for the boat — docked in the Museum Park Marina, in full view of the FTX Arena, the stadium for the Miami Heat just renamed for another crypto exchange, which hosted an NFT event for some 3,000 people earlier in the day — is that the owners want to sell it for around $115 million in cryptocurrency and were hosting a kind of send-off party for it. (LeBron James and Jack Ma were at one point expected to attend, though neither man did). On land, the line to get on was about a hundred people long. An aggressive crowd of people near the front was held back only by a few zealous bodyguards. “I’m fucking pissed,” one woman from the Coinbase contingent said to a friend at about 8:45, after she and her coworkers were repeatedly told they had to wait to get in. “I paid $45,000 to be here.”

It’s Art Basel Miami — or, more accurately, the crypto tailgate around Art Basel Miami, which has grown so large it’s beginning to eclipse the main event. At the center of all this is the explosion of wealth around NFTs, or, non-fungible tokens, digital assets that typically come bundled with images or videos and have emerged as a way for artists to profit off their work and collectors to make quick money. While the art fair doesn’t officially kick off until Friday, Miami is flooded with panels, parties, after-parties, dinners, and auctions dedicated to these newfangled digital assets. It’s remarkable how much both the city and the traditional art world are embracing their crypto moments, with signs of institutional approval popping up everywhere for something that was, just a few months ago, largely dismissed as a fad. Here in the Magic City, there’s a palpable sense of optimism around NFTs as the future of, well, everything — art, city governance, video games, tax avoidance schemes. At this point, most parties seem to understand that there is potentially a lot of money to be made by entering the blockchain-industrial complex. Of course, there’s also a pervasive, detached sense that the bubble has to burst sooner or later.

“This week will be the largest sale of NFTs in the history of the planet,” Miami Mayor Francis Suarez, donning a black NFT BZL T-shirt, said in an afternoon speech at FTX Arena. “We want to see how NFT technology can aid us in resilience, transit, and other challenges that we can tackle into the future.”

As lofty as that all sounds, this year’s Art Basel — the first in two years –  is all about the spectacle. At the arena, models walked around in slight outfits made of crumpled-up dollar bills or dressed as futuristic superheroes. Among the salt-and-pepper men on the investment end of the NFT economy, there’s a lot of talk about “community,” which, as far as I can tell, is another way of differentiating NFT projects that have an actual following — more than a few people wore merch from the Bored Ape Yacht Club, one of the largest crews — from those that are ephemeral internet trash. “The Bored Apes have done that very well. They’ve been very inclusive,” Chris Adamo, an investor at VC firm Flamingo Capital, said while wearing a JPEG Morgan T-shirt. Paul Judge, a venture-capital investor at Panoramic Ventures, wondered aloud, “How do you explain to someone how being part of some community is useful? Whether that community is an alumni group or a private social club, or country club, you’re around like-minded people.” But while these models of community — tight-knit but exclusive like a private club — have propelled NFTs’ transformation into a major crypto industry, they have also undermined the loftier, democratic ideals that have made it so compelling. Although the speaker list for NFT BZL (as this digital offshoot of Art Basel has been branded) was split about evenly among women and men, the audience was largely white and male — something that wasn’t really lost on the people there. “We saw that in 2021, only 5 percent of all the sales of NFTs went to women artists, and that’s not because women artists aren’t pioneers and innovators in the space but because of things like institutional and systemic sexism and racism,” said an aqua-haired NFT podcaster whose real name — Will Gaines — serves as a homonym for the overriding ethos of the week.

After night fell, the parties sprang up. Spreadsheets and Telegram groups have been trading information about every NFT company and clique that has rented out a bar or restaurant, a mushrooming of events that choked traffic so badly I ended up taking taking a Citi Bike from South Beach to Downtown Miami rather than wait for a projected hour in the back of a Lyft. A party hosted by WallStreetBets, the Reddit forum behind this year’s meme-stock upheaval, took place on the roof deck at Juvia, a trendy and very good restaurant that overlooks Lincoln Road, Miami’s Times Square. As I walked in, an auctioneer was selling NFTs of branded memes and diamond hands — lingo for a holder who can brave the ups and downs of a volatile market — at a rapid pace, bringing in as much as $2,000 per piece. Projected on the wall behind him was an animated loop of two naked women standing in a shower of blood. The party was sponsored by a cigarette company, and a gallery of physical art hung on the walls of the indoor section. “I don’t understand art very well, but we’re going to celebrate the union of these two things — people can buy the NFTs, or they can buy the physical art they see here,” Jaime Rogozinski, founder of WallStreetBets, told Intelligencer. “But more than anything, it’s just a kick-ass party to have good-ass time.” (When I aksed Rogozinski what he thought of Ken Griffin, the CEO of hedge fund Citadel — and a rival of the populist WallStreetBets crowd — beating out a group of like-minded crypto investors for a copy of the U.S. Constitution, he played down their competitiveness. “I wish he could have come to the party,” he said. “I appreciate somebody like that.”)

Later that night, Bold filled up with around 200 people; it was decked out with neon lights and a giant screen that played a loop of an undulating collage of patterns. There was a mix of women in their 20s, younger crypto investors, and a few older finance types who were there to strike deals. The latter group seemed mostly skeptical of the scene but also eager get in on it while it lasted. An adviser to wealthy clients was considering putting together a digital museum in the so-called metaverse (the dream of Mark Zuckerberg and crypto engineers alike of creating an immersive internet), a place for NFT investors to donate their assets and reap the tax benefits that come along with it. “It’s a bubble,” one celebrity-wealth manager said. “It needs to get regulated.”

The boat is scheduled to be sold off on Wednesday at a separate event managed by a superyacht broker (and one of the party’s sponsors), Kitson Yachts, which sells the giant boats to the superrich. Carl Krass, a software engineer whose family owns — and built — the boat, hopes to get at least the majority of the bid in crypto. “Look, we believe in it. We think it’s cool. I live in Switzerland, where a lot of that stuff’s happening,” he said. “We are all looking for more exposure to that too.”

NFT BZL, and the larger scene in Miami, both seem to mark an evolution in how crypto is perceived — as just another way to get a deal done in big-money enterprises, whether a yacht or an expensive piece of art. Still, the associations with tax evasion and drug purchases on Silk Road linger. One investor aboard pointed out the city’s history of financial shenanigans, one of the reasons it’s on a list of cities that require greater scrutiny from the U.S. Treasury for LLCs buying property. “Money laundering, cocaine, crypto,” the investor said. “There’s a reason it’s all here.”

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Buy a Yacht with Cryptocurrency / Digital Currency

Cryptocurrency is a digital or virtual form of currency that uses cryptography for security. It operates on a technology called blockchain, which is a decentralized and distributed ledger that records all transactions. Some businesses and yacht sellers have started accepting cryptocurrencies as a form of payment due to its increasing popularity and the potential benefits they offer.

Cryptocurrency – Yacht Sales, Charters & New Yacht Construction

The acceptance of cryptocurrency (aka: crypto) / digital currency by yachting companies and yacht sellers and buyers can vary widely. Some may only accept digital currency for specific circumstances. Some of the reasons for accepting cryptocurrencies include lower transaction fees, international accessibility, and potential for innovation. Talk to Justin Blue (Tel: +1 954-952-2190) or email Justin at YachtsBlue about buying a yacht with a digital currency. Justin can help shed light on the yacht markets and the use of crypto currency with a yacht sale , yacht charter or new yacht construction .

Cryptocurrency Acceptance & Digital Currency Types You May Encounter in a Yacht Sale or Charter *

• Bitcoin (BTC): Bitcoin is the first and most well-known cryptocurrency. Many businesses, including some yacht sales companies, accept Bitcoin as a form of payment. It’s known for its store of value and is often used for large transactions due to its high market capitalization.
• Ethereum (ETH): Ethereum is a blockchain platform known for its smart contract functionality. Some businesses accept Ether, Ethereum’s native cryptocurrency, for transactions. It’s often used for more complex agreements and applications.
• Ripple (XRP): Ripple is a digital payment protocol that aims to facilitate cross-border transactions. Some companies involved in international trade, including yacht sales, use XRP for its quick and cost-effective cross-border transfers.
• Litecoin (LTC): Litecoin is often considered as a faster and cheaper alternative to Bitcoin. Some businesses accept Litecoin as a payment option due to its efficiency in smaller transactions.
• Bitcoin Cash (BCH): Bitcoin Cash is a fork of Bitcoin that offers faster and cheaper transactions. Some businesses prefer to accept Bitcoin Cash for its ease of use and low fees.
• Cardano (ADA): Cardano is a blockchain platform known for its focus on sustainability and scalability. Some businesses are beginning to accept ADA as it gains popularity and usability.
• Chainlink (LINK): Chainlink is a cryptocurrency associated with providing decentralized oracles to smart contracts. Some businesses in the blockchain and DeFi space might accept LINK for specific services.
• Polkadot (DOT): Polkadot is a blockchain platform that connects multiple blockchains. While it’s not as commonly accepted as Bitcoin or Ethereum, some tech-savvy businesses might accept DOT.
• Stellar (XLM): Stellar is a blockchain platform designed for cross-border payments and asset tokenization. Yacht sales companies that operate internationally might consider XLM for transactions.
• Binance Coin (BNB): Binance Coin is associated with the Binance cryptocurrency exchange. Some businesses, particularly in the crypto space, might accept BNB.

Accepting cryptocurrencies / digital currency can have advantages, such as lower transaction fees, quicker international transactions, and access to a global customer base. However, transactions and trading in cryptocurrencies can also come with risks, including price volatility and regulatory uncertainties. It is essential to carefully consider the benefits and potential drawbacks and to ensure compliance with local regulations.

Contact Justin Blue to discuss how you may use cryptocurrency within a yacht transaction and how YachtsBlue can work with a buyer, seller boat builder or yacht charter in the use of digital currencies.

• * This is not an endorsement of cryptocurrency or any digital currency specifically and does not represent an assurance that any sale, charter or transaction of any type, can or will accept any form of digital currency.
• The Bitcoin and cryptocurrency photo is attributed to Zach Copley

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• YACHTZOO Partners with BitPay

Buy and charter a yacht with cryptocurrency through BitPay

YACHTZOO is pleased to announce our latest partnership with BitPay , the world’s largest bitcoin and cryptocurrency payment services provider. Our collaboration with BitPay will allow our clients to sell, buy, and charter a yacht with crypto, moving into international markets where credit cards are not always necessary. This will help to reduce high fees, as well as increase payment transparency and efficiency.

If you are looking to buy or charter a yacht with cryptocurrency through BitPay, read on to find out more about how this can be done.

You can also read our BitPay FAQ .

What is BitPay?

BitPay is the world’s largest provider of Bitcoin and cryptocurrency payment services. Established in 2011, they pioneered blockchain payments to transform how businesses send, receive, and store money. BitPay offers its clients a complete digital asset management solution that includes the BitPay Wallet and BitPay Prepaid Card, enabling them to turn digital assets into one of eight major currencies.

BitPay supports leading coins, including Bitcoin (BTC), Bitcoin Cash (BCH), Dogecoin (DOGE), Ethereum (ETH), and Litecoin (LTC), to name just a few. The platform also supports more than 90 different crypto wallets and exchanges, including BitPay, Coinbase, Exodus Wallet, Ledger Wallet, Trust Wallet, Electrum Wallet, Blockchain Wallet, and more.

Their business solutions are second to none when it comes to buying or chartering a yacht with crypto, eliminating transaction costs, reducing payment fees, and enabling borderless cryptocurrency payments. A decade later, and with more than $70 million in funding from leading investment firms, BitPay is paving the way for the future of crypto payments in the yachting industry.

The benefits of buying and chartering a yacht with crypto

Incorporating the luxury yacht market into the digital age, our clients now have the opportunity to explore yachts for sale using popular cryptocurrencies as a preferred form of payment. This not only broadens the scope for potential buyers but also aligns with the evolving trend toward digital currency in major transactions.

Moreover, the integration of crypto payments into yacht sales and boat purchases signifies a shift towards more modern forms of transaction, away from traditional banking systems. This alternative payment method, facilitated through digital wallets, offers unparalleled convenience and security, making it an attractive option for the luxury yacht buyer.

Yacht charter and yacht sales are now more accessible than ever, with the price of a luxury yacht being transacted in the digital realm. This seamless blend of luxury with cutting-edge technology ensures that our clients enjoy the best of both worlds, making their dream of owning or chartering a luxury vessel a reality through a straightforward and secure digital currency transaction.

Is it safe to buy a yacht with cryptocurrency?

Our partnership with BitPay offers a host of benefits to our clients, ensuring all payments are secure and efficient. Unlike the high cost of credit cards that charge a 3% transaction fee, BitPay charges 1% to approve the transaction and settlement. Additionally, BitPay offers the best bid exchange rates.

When our clients buy and charter a yacht with cryptocurrency through BitPay, they can rest assured that their transactions are not just fast but also safe. As BitPay is built around Bitcoin, transactions are secure from identity theft and chargeback fraud.

One of the most essential elements of blockchain technology is that a transaction cannot be changed once reported in the system. This process creates a highly efficient service and a smoother purchase experience for our clients.

To receive payments, BitPay allows users the option to not only accept them in one of eight currencies or Bitcoin, but users can even choose a variety of those options. BitPay is also supported worldwide, allowing us to invoice our clients in 40 languages.

BitPay is available for any device, accessed via your desktop or your mobile phone – ensuring flexible payment options at any given time.

If you are looking to sell, buy, or charter a yacht with crypto through BitPay or are interested in learning more about this financial platform, contact one of our specialist brokers today.

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Can you really buy a boat with bitcoin?

The rise of bitcoin has baffled big banks since it burst onto the scene almost a decade ago. As owners and brokers start to put their trust in the fledgling currency, Holly Overton investigates the uncharted crypto waters ahead.

The first real-world bitcoin transaction recorded was made by Floridian computer programmer Laszlo Hanyecz when he purchased two pizzas for 10,000BTC ($30). The story is carved into crypto folklore, not because the landmark purchase was as trivial as a pepperoni pizza, but because today those two pizzas would've cost around $578 million. The crossover of bitcoin into the physical world unlocked the true potential of digital currencies and caused a global frenzy buoyed by investor optimism and big-name backers vying for a piece of the action.

Even brokers are eyeing up the opportunity to cash in. “They are buying and selling houses and supercars with bitcoin, so why not yachts,” says Juan Andrade of SuperYachtsMonaco . But with crypto's somewhat cloudy reputation, not everyone has been so quick to jump. 

While cryptocurrency remains a niche portion of the market it is not unheard of in brokerage circles. Denison Yachting was one of the first brokers to embrace the controversial coin - and with success too. The US broker has completed six transactions in bitcoin to date across its brokerage and charter portfolios, with another two under contract. 

“Buying with cryptocurrency has its advantages,” says founder and president Bob Denison, citing privacy, flexibility, and speed. Bitcoin allows coin holders to make secure payments from user to user through a digital wallet without the need for intermediaries; there’s no central bank or single administrator and the transactions are kept anonymous which is all part of the appeal. “It also allows buyers to send money any day at any time of the day, so there are no physical restrictions, like a bank not being open,” he adds.

• Ustaoglu motor yacht XO of the Seas now priced in bitcoin

On paper, the peer-to-peer system works when the buyer and seller are both willing to exchange bitcoin, but in practice this isn’t always the case. “Most yacht owners today aren’t interested in receiving bitcoin direct,” explains Denison. In most circumstances, buyers have the option of using crypto exchanges such as Kraken or Coinbase to convert their digital coin into dollars or euros to complete the purchase. Although, Denison Yachting is one of the few brokers that accepts bitcoin directly. "If a brokerage client wants USD or EUR we use a service to convert [the cryptocurrency] and charge a 1% transaction fee." 

The US broker also accepts bitcoin as direct payment for its in-stock inventory of new builds. “We’re always trying to find ways to make the yacht-buying process safe and easy for clients. Accepting bitcoin is just one of those ways," says Denison.

Andrade shares the same view. “It’s just another tool to find a buyer for your boat,” he says. In February, SuperYachtsMonaco announced that the owner of the 50-metre JoyM e was now accepting bitcoin for his €9.9 million superyacht. According to the broker, the yacht had been on the market for a year and a half, and while there was plenty of interest, there had been no bite. “The owner is not super young, but he's forward thinking and open minded,” says Jim Evans, managing director of SuperYachtsMonaco.

As with all investments, though, bitcoin is not immune to fluctuations. While it's currently enjoying a surge in value, historically the currency has been prone to lulls, which might explain the slow uptake in the brokerage sector. “If you have something today that’s worth, say €10 million, this afternoon it could be worth €15 million, and tomorrow morning it's worth just €5 million,” explains Andrade.

However, there is another barrier to bitcoin in yachting that is much more superficial: “We’re just not asked", says Toby McClaurin, sales director of Ocean Independence. “We get crazy ideas where a buyer wants to exchange a villa or property more often than we would get a request for cryptocurrency,” he says. But that doesn't mean he'd rule it out altogether. 

“Our job as brokers is to make buying, selling and chartering yachts as easy as possible," he says. “Anything that encourages more people into the market is a good thing and if there was demand out there I'm sure we would find a way to support it". It was for the same reason in 2017 that Royal Yacht International announced they would be accepting gold as payment for yachts along with bitcoin too.

McClaurin continues: “As an industry, we're very flexible. There's always a solution there whether it's dollars, euros, pounds, or pretty much any other currency."

Elsewhere, Rupert Nelson, director of Burgess commented: "I think many owners, for now, will be too nervous about accepting crypto unless there are significant safeguards in place. Perhaps once the novelty factor wears off and the volatility calms down, then why shouldn’t it be a currency in yachting." Meanwhile, Raphael Sauleau, chief executive of Fraser , commented that while the brokerage was currently in a position to accept bitcoin, it would "keep an eye on developments".

There's no doubt bitcoin has gained some serious traction in the last year alone, with thousands of copycat "altcoins" such as Ethereum and Dogecoin joining the crusade. Some experts argue that the momentum of people piling onto to bitcoin bandwagon is merely a case of FOMO (fear of missing out), while others share the view that crypto could one day replace shiny bullion bars as a safe haven in investment portfolios.

According to data collated by The Block, trading on major crypto exchanges soared to $1.7tn last month, from $1.2tn in March and less than $100bn in April 2020, despite warnings against the currency by financial watchdogs. The UK Financial Conduct Authority (FCA), labels cryptocurrencies as "very high risk, speculative investments" and warns, "consumers who invest in these types of product should be prepared to lose all their money."

Still, some companies remain undeterred, including three of the world's largest payment companies, Mastercard, Paypal, and Visa, that have begun dealing in crypto. Elsewhere, luxury watchmaker Hublot designed a limited-edition watch payable only by bitcoin, Tesla is set to start offering its cars for sale in crypto, and you can even bag a seat on Sir Richard Branson’s Virgin Galactic Flight. And while there are plenty of financiers who don't believe crypto has any sort of staying power, for many, it is just another way to do business.

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Superyachts: everything you need to know about cryptocurrency

By Editorial Team |   4 January 2022 2022-01-04

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Cryptocurrencies first appeared over a decade ago when Bitcoin entered the fray in 2009 on the heels of the global economic recession. Since then crypto markets have boomed, with thousands of online transactions taking place across the globe, including the first ever superyacht sale in 2016, paving the way for an increasing number of yacht sales and charters executed using these types of digitally encrypted funds.

In this article:

What are cryptocurrencies?

What's been the impact on the superyacht industry, what are the benefits of cryptocurrency for superyacht end-users, how can i purchase cryptocurrency, are there any downsides, need more advice.

In a nutshell, they are non-tangible assets in the form of digital currency – denominated in terms of virtual tokens – which allows users to send and receive funds without the need for a central bank.

Instead, these online transactions are recorded using a public ledger known as a blockchain – basically a record of all crypto transactions – and the currencies are stored in digital wallets. This system of de-centralised payments uses cryptography (encryption) to verify and secure payments, making it nigh on impossible to counterfeit or double-spend.

The first ever yacht sale using cryptocurrency was announced in 2016, with a number of high-profile yacht transactions completed since then. June 2018 saw the first ever Bitcoin-booked charter.

A number of brokerage firms now offer digital transactions as part of their service where you can pay for your yacht purchase or charter in Bitcoin or other established cryptocurrency, such as Ethereum or Ripple.

Also marking a world first, Owner's of the Benetti superyacht VIANNE recently announced that they will now accept NFTs (Non-Fungible Tokens) for the yacht's charter or sale.

Widely known to be used for purchasing digital creations such as music, videos clips and art, NFTs are non-interchangeable units of data that are stored on a blockchain, in a similar way to cryptocurrencies.

The main differences to crypto are their lack of interchangeability, as well as their limited supply making their value potentially far greater.  

For anyone wishing to buy or sell a yacht, the major drawcard for using cryptocurrency is privacy as there are no document ID procedures required, proving a massive incentive for those wishing to remain anonymous when transferring the kind of eye-watering sums that exchange hands within the superyacht industry. 

That said, some UHNWIs are still wary and keen for reassurance this type of currency is safe to use. Bob Denison, President of Denison Yachting asserts that “ many clients prefer the ease of use and privacy that paying with Bitcoin, or any other cryptocurrency, provides. The blockchain network makes payments untraceable, which is an advantage to those who want to keep their travel expenditures private. ”

In addition, by circumnavigating third-parties that are usually required to verify the transactions, users can pay for goods and services immediately. 

The process can be broken down into 3 easy steps; 

• Set up an account – which only takes a matter of minutes – and fund it with your own money.
• Purchase your preferred cryptocurrency – Bitcoin, Ethereum and Ripple are currently the most widely used. Note this is similar to using foreign currencies based on exchange rates. Most crypto exchanges allow users to purchase crypto using government-issued currencies such as US Dollars, pounds or Euros. Due to its popularity, cryptocurrencies are enjoying incredibly strong exchange rates, meaning you could actually be paying significantly less for your yacht purchase or charter. 
• Store your purchased cryptocurrency in a digital wallet – this is to secure it against hacks or thefts. Some exchanges provide wallet services making it easy for you to store directly through the platform. It’s worth doing some homework beforehand to find the best service suitable for your needs.

Once you have your cryptocurrency safely tucked away in its digital wallet, the funds are available to spend as and when you wish.

The blockchain network makes payments untraceable, which is an advantage to those who want to keep their travel expenditures private.

Although the peer-to-peer payment system helps superyacht end-users avoid high processing fees levied by the banks and credit card companies, it still requires for both the seller and the buyer to conduct the transfer in cryptocurrency.

To get around this, buyers can convert their digital asset using a crypto exchange such as Kraken, with a small number of broker companies accepting Bitcoin directly. 

As with all currency exchanges, cryptocurrencies can fluctuate, which may explain why superyacht users have been wary of using digital currencies to date. That said, cryptocurrencies like Bitcoin have enjoyed sustained growth in the last few years, which has undoubtedly led to greater numbers of sales and purchases using these types of digital funds.

With the ultra-high privacy angle, low transaction fees and rapid transfer times it is clear to see why cryptocurrencies are fast becoming the popular choice for anyone wishing to buy or sell a superyacht while remaining anonymous. 

In terms of chartering, the speed of payment, plus the freedom to spend their money how they wish without involving third parties and complex paperwork is a big plus.

You could conceivably pay for a last-minute charter the night before and be stepping on board the yacht the following morning. What's not to love about that?

Please note this article is for guidance only. Therefore, if you would like to learn more about using cryptocurrencies for sale or charter, please speak with your preferred yacht broker  direct or more information.

In the meantime, feel free to browse our comprehensive fleet of superyachts available for charter .

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Can I Buy A Boat With Cryptocurrency?

By Rob Bowman | Posted On Dec 15, 2021 Updated On Mar 23, 2022

United Yacht Sales is excited to announce that we have partnered with ForumPay, an industry-leading global cryptocurrency payment technology provider, to offer our clients the ability to purchase a boat using their favorite cryptocurrency. ForumPay has multiple clients in similar spaces including the real estate industry, private jet charters, and other retail businesses that have successfully begun accepting crypto payments .

ForumPay allows United Yacht Sales clients to sell their yacht confidently and safely to a more diverse community of potential buyers without having to know anything about cryptocurrency at all.

"The yachting industry cannot ignore the benefits of accepting cryptocurrency as a form of payment for a boat purchase," said Captain Jeff Palmer , co-owner and President of United Yacht Sales. "The beauty of partnering with Forumpay is that they exchange the cryptocurrency for U.S. dollars and our clients listing their yachts with us never know the difference. They receive the funds in their account like they normally would!"

Boats can be purchased using a variety of cryptocurrency including Bitcoin, Ether, Litecoin, Bitcoin Cash, Dash, or XRP.

For more information on how to buy a yacht with crytpocurrency , please don't hesitate to call our main office at 1-772-463-3131 .

Example Below Of How Buyers Would Pay With Crypto:

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Crypto-Cat? This Sleek 52-Foot Sailing Catamaran Was Just Bought With Bitcoin

While cryptocurrency remains a tiny niche of yacht sales, one broker has purchased bitcoin miners to make it more mainstream., michael verdon, michael verdon's most recent stories.

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Bitcoin was used to purchase a 52-foot Lagoon catamaran in Fort Lauderdale, Florida. The buyers, introduced by Denison Yachting broker Michelle Ropiza, purchased the sailing yacht using a combination of US dollars and cryptocurrency .

Despite its somewhat murky reputation, cryptocurrency may become more common in future yacht deals. Bitcoin is perhaps the most well-known form of the digital, unregulated currency that’s traded anonymously, without banks or middlemen. Payments are made through a digital wallet on a computer or smartphone.

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Bob Denison, president of the Fort Lauderdale-based firm, said the “vast majority of sellers” have no interest in accepting cryptocurrency, so Denison Yachting has moved to assist the buyers with crypto-deals. He said the 52 Lagoon was purchased “half in Bitcoin and half in US dollars,” and that the seller didn’t know that the transaction involved cryptocurrency.

Bitcoin amounted to about half the purchase price of this 52-foot sailing catamaran.  Courtesy Denison Yachting

“The day of the closing was faster than a wire transfer—they converted the Bitcoin immediately into dollars,” says Denison. The cryptocurrency has a reputation for being “somewhat shady,” Denison adds, but the transaction followed all legal protocols, including the buyer providing a passport to verify his identity.

The firm has nine Bitcoin “miners” in its offices, more as a way to  “understand” the cryptocurrency, says Denison, than make sizable profits. The company also has a merchant account which provides the ability to buy cryptocurrencies with debit or credit cards.

“I think we’re the only firm that makes an effort to accept crypto,” says Denison. “Our closing department has been trained in that. We also opened an office in Hong Kong to make it easy for the client to put down deposits in Euros. It’s all about meeting the client where they’re at.”

The agency has purchased nine Bitcoin miners as a way to grow its crypto business in yacht sales.  Courtesy Denison Yachting

Since 2016, Denison Yachting has sold three yachts and funded three yacht charters using cryptocurrency. Bob Denison expects buying boats in cryptocurrency to remain a “niche” part of his business going forward, but he believes, among cryptos, Bitcoin will be around. “It is volatile, but it seems to have staying power,” he says.

The Lagoon 52 had an asking price of $839,000 at the time of the sale.

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How to purchase a yacht with cryptocurrency

July 29, 2022

Image Source: Midjourney

No one should go into buying their first yacht without a lot of thought. If you don't know what you're doing or have any experience, it's easy to be led astray by the creative yacht ideas of designers who push the limits or to be talked into building or buying an ultra-expensive yacht with technical features that you'll end up never using.

Buy your yacht with crypto

Use XEROF cryptocurrency gateway to buy your first yacht with crypto. Our service lets you spend your crypto like a fiat currency, all while being compliant, fast, and easy to use. Use BTC, ETH, USDT, or USDC to make purchases in CHF, USD, EUR, GBP, and AED. Spending your cryptocurrencies on luxury goods is made easier than ever before with XEROF.

With this in mind, we have chosen to offer top tips for buying your first yacht with cryptocurrency in this post. Hopefully, these tips should make it as easy as possible to finalize your purchase of the perfect yacht for your specific needs.

Consider your options

The very first thing to do is to consider your options. There are a wide variety of yachts to choose from in multiple different price classes. You can get a more modest yacht for around  $500.000, or spend upwards of $100.000.000 for a superyacht that is sure to grab the attention of everyone you pass.

Thus, one of the very first things is to consider how much you are willing to spend on your yacht. 

Aesthetics are hugely important when it comes to selecting the right yacht. After all, if you simply wanted a vessel that floats, a simple row boat could do the trick. So it is important to consider which aesthetic you prefer most.

Do you want a yacht with a simple appearance without as many flashy accessories, perhaps a yacht that resembles a sailboat, or maybe an extremely flashy yacht with a rooftop jacuzzi?

There are no right or wrong answers, everyone has their own preferred aesthetics, and as you are shopping for your future yacht, it is an important thing to thoroughly think about.

Keep your travel plans in mind

If you plan to simply keep the yacht in a bay area and not do any extensive travel, then this part is not as important to consider. But if you plan to embark on lengthy naval adventures on your yacht, then the distance of the trip is worth thinking twice about. Not all yachts are built equally, and some will be able to spend more time at sea than others.

As a general rule of thumb, the size of the yacht directly correlates to how far the yacht can travel. This is due to the simple fact that a bigger yacht can fit a bigger fuel tank. However, It's not always a guarantee, as yachts of the same size don’t always have the same engines, fuel tanks, or other mechanical components.

So, if you plan to cross the Atlantic or Pacific oceans in your yacht, the capacity of the fuel tank, as well as the ability to store extra fuel onboard, is definitely something that is worth keeping in mind before making your final purchase.

Charter before you buy

To ensure that you know what to expect, it’s a good idea to go ahead and charter a yacht before you buy one. There are a lot of mix-ups between renting a yacht and chartering a yacht, with people using the two interchangeably. We will explain the difference between the two below. 

Renting a boat usually means that you only get the boat itself. You then have to provide your own supplies and captain the ship on your own behalf. Chartering is similar, but usually means that you will also be getting staff included, as well as not having to provide your own supplies. 

It is worth noting, however, that there is such a thing as a “bareboat charter”, which essentially means the exact same thing as a rental. Namely, you have to do everything yourself and provide all your own supplies. 

When chartering a yacht, you get the full experience of being a yacht owner, which makes it a perfect experience to have before finalizing the purchase of your very own yacht. It can be likened to taking a car for a test drive before you buy it, or dipping your toe in the water before you dive in. 

Be patient and don’t rush into things

Patience is one of the most important things when browsing and buying a yacht. Take your time to research and figure out what you need from your yacht before making your purchase. Look into as many aspects as possible to ensure that your yacht will be able to meet your needs and your expectations. 

There have been numerous times where excited buyers have bought a yacht, only to find out it cannot handle the travels they have planned for example. This then leads to disappointment and the immediate wish to upgrade. 

So one of the biggest tips, and words of wisdom, is to simply try your best to be patient. As exciting as it may be to finally fulfill the dream of owning your very own yacht, patience will be rewarded in the long run.

Purchasing a yacht is undeniably one of the most exciting purchases you can make. This also makes it an important purchase that is worth thinking about before making your mind up. By considering your options and keeping your travel plans in mind, you minimize the risk of running into unfortunate surprises. 

Above all else, be patient and take your time to avoid spending your funds on a yacht that is subpar. Remember, you can use XEROF to buy your yacht by using crypto such as Bitcoin or Ethereum, making the purchase as simple as possible.

About XEROF

XEROF is a Swiss-licensed FinTech specialising in cryptoassets. Our Tier 1 banking network allows clients to seamlessly navigate crypto and fiat transactions to manage investments, treasury, and settle third party expenses.

Reach out to begin working with XEROF today.

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The process of selling a yacht in the traditional way can be time and costs consuming and the maintenance can fall on the owner’s hands.

A small number of companies are hoping that blockchain technologies can change that and speed up the process of exchanging assets by, for example, using cryptocurrencies to purchase a yacht.

Cryptocurrencies have a bit of a murky reputation but some figureheads in the yachting industry believe they’ll have a part to play in the future of yacht sales. There are already a few examples of successful deals. In late 2020, a combination of US dollars and Bitcoin was used to purchase a 52-foot Lagoon catamaran in Fort Lauderdale.

The deal was brokered through  Denison Yachting , which opened the Bitcoin option following requests from “several customers.”  At the time , Bob Denison, president of Denison Yacht Sales, said: “Bitcoin does a lot of things that are really unique in terms of efficiencies. It’s just a matter of time before someone from the target market buys a boat with Bitcoin.”

Hoping to emulate this success,  Sovereign Yacht Sales , is selling a $25 million  Majesty 140 yacht  in a similar way. Awarded the accolade of NBC ‘Best in show’ in the Fort Lauderdale International Boat Show in 2019, the striking tri-deck yacht is praised for its elegant exterior and interior design and innovative features, including its modern ‘beach club.’ The sale will be facilitated through luxury asset management platform  Idoneus , a luxury asset management platform which aims to “change the way luxury assets are exchanged.”

Blockchain and digital identity expert Dr. Neil Pennington, who has held senior roles at PwC, IBM and RWE, among other blockchain businesses, has assumed the role of senior advisor on strategy & innovation at Idoneus, so great is his belief in the company.

“Think of blockchain as a technology (much like a wallet or a ledger) that stores data and uses digital tokens (cryptocurrency) to process transactions and transfer value,” he says.

“Idoneus uses blockchain to solve several challenges including verifying the identity of those involved in a transaction (reducing risk for fraud), recording transactions using smart contracts which solves risks associated with the use of multiple currencies, and eliminates additional costs of third parties by enabling peer-to-peer direct transactions for the sale of assets, goods and services.”

Nautic Magazine introduced in mid-2021 its new Marketplace so you can use Bitcoin to buy your next Yacht!

You can read more articles in our CryptoCurrentSea section!

• CryptocurenSea
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Bitcoin Surges Ahead of Fed Rate Cut: 5 Crypto-Centric Stocks to Gain

The crypto market has been struggling to stage a rebound. However, the enthusiasm surrounding rate cuts saw Bitcoin ( BTC ), the world’s most popular cryptocurrency, surging above $60,000 for the first time since last month.

Several factors have posed headwinds for Bitcoin over the past few months but market experts believe a rate cut will help the cryptocurrency resume its rally. Given this scenario, it would be ideal to adopt the buy-the-dip approach. Four such Bitcoin-centric stocks with upside are Interactive Brokers Group, Inc. ( IBKR Quick Quote IBKR - Free Report ) , Robinhood Markets, Inc. ( HOOD Quick Quote HOOD - Free Report ) , CME Group Inc. ’s ( CME Quick Quote CME - Free Report ) , BlackRock, Inc. ( BLK Quick Quote BLK - Free Report ) and NVIDIA Corporation ( NVDA Quick Quote NVDA - Free Report ) .

Bitcoin Surges on Rate Cut Hopes 

On Tuesday, Bitcoin was trading at $60,477.98 after hitting an intra-day high of $61,337. The surge came as the Federal Reserve began its two-day FOMC meeting, with expectations high that a rate cut will be announced on Wednesday.

Bitcoin has been rangebound since April, with even the halving event failing to boost its price. Halving, which typically cuts the reward for mining new Bitcoin blocks by 50% to limit the total supply to 21 million, generally boosts demand and prices. However, Bitcoin's value dropped notably after the recent halving.

In early August, a broader market bloodbath saw Bitcoin’s price fall below $55,000. The cryptocurrency has since been trying to rebound.

Rate Cut to Boost Crypto-Centric Stocks

Soft August jobs data and a marginal rise in monthly inflation have somewhat dampened hopes of a 50-basis point rate cut by the Federal Reserve. The CME FedWatch tool presently shows a 63% possibility of a 25-basis point cut this week, while a 37% probability of a 50-basis point cut.

Bitcoin had a solid 2023 and despite its recent decline, has gained 43% year to date. It hit an all-time high of $73,750 on March 14.

A rate cut is likely to help Bitcoin and other cryptocurrencies. A rate cut of any size bodes well for growth assets like cryptocurrencies as they reduce the opportunity cost of holding assets that don’t provide yields. In a low-interest-rate environment, investors are more inclined to go for assets with higher potential returns, even if they involve greater risk.

Five Crypto-Centric Stocks to Gain

We have narrowed our search to five crypto-oriented stocks that have strong potential for 2024. Each of our picks carries either a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). You can see  the complete list of today’s Zacks #1 Rank stocks here .

Interactive Brokers Group, Inc.

Interactive Brokers Group, Inc. is a global automated electronic broker. IBKR executes, processes and trades in cryptocurrencies. IBKR’s commodities futures trading desk also offers customers a chance to trade cryptocurrency futures.

Interactive Brokers Group has an expected earnings growth rate of 18.4% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 0.7% over the last 60 days. IBKR currently carries a Zacks Rank #2.

Robinhood Markets, Inc.

Robinhood Markets, Inc. operates a financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds, options, gold, and cryptocurrencies. HOOD buys and sells Bitcoin, Ethereum, Dogecoin and other cryptocurrencies using its Robinhood Crypto platform.

Robinhood Markets’ expected earnings growth rate for the current year is more than 100%. The Zacks Consensus Estimate for current-year earnings has improved 38.2% over the last 60 days. Robinhood Markets currently carries a Zacks Rank #2.

CME Group Inc.

CME Group Inc. ’s options give the buyer of the call/put the right to buy/sell cryptocurrency futures contracts at a specific price at some future date. CME offers Bitcoin and ether options based on the exchange's cash-settled standard and micro-Bitcoin and Ethereum futures contracts.

CME Group’s expected earnings growth rate for the current year is 6.4%. The Zacks Consensus Estimate for current-year earnings has improved 1.5% over the last 60 days. CME presently has a Zacks Rank #3.

BlackRock, Inc.

BlackRock, Inc. is one of the world’s largest investment managers and is publicly owned. BLK was one of the first companies from the traditional market to join the Bitcoin ETF race back in June 2023.

BlackRock’s expected earnings growth rate for the current year is 9.5%. The Zacks Consensus Estimate for current-year earnings has improved 10.3% over the last 60 days. BlackRock currently carries a Zacks Rank #3.

NVIDIA Corporation

NVIDIA Corporation is the worldwide leader in visual computing technologies and the inventor of the graphic processing unit, or GPU. Over the years, NVDA’s focus has evolved from PC graphics to artificial intelligence-based solutions that now support high-performance computing, gaming and virtual reality platforms.

NVIDIA has an expected earnings growth rate of more than 100% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 4.1% over the last 60 days. NVDA presently carries a Zacks Rank #3.

See More Zacks Research for These Tickers

Pick one free report - opportunity may be withdrawn at any time.

CME Group Inc. (CME) - free report >>

BlackRock, Inc. (BLK) - free report >>

Interactive Brokers Group, Inc. (IBKR) - free report >>

NVIDIA Corporation (NVDA) - free report >>

Robinhood Markets, Inc. (HOOD) - free report >>

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