Denison was the first yacht brokerage firm to accept bitcoin as a form of payment and the first company with the ability to accept cryptocurrency payments without a limit.
Back in 2014, there became a need to pay for luxury goods using various cryptocurrencies. Fintech companies such as BitPay and Coinbase offered an easy way to make payments faster and more secure for individuals and businesses. And as a leader in the yachting industry, Denison announced the first yacht sale using cryptocurrency in 2016. Then in June 2018, Denison’s first Bitcoin-booked charter was made. This paved the way for making yachting more accessible.
Fast forward seven years and Denison has completed more than five bitcoin transactions for yacht sales and yacht charter. Buying a yacht or chartering a yacht using cryptocurrency as payment makes sense because of low transactions fees, fast transfer, and privacy. The ability to safely accept various currencies, including cryptocurrency, and distribute these funds in U.S. dollars is a valuable service to Denison’s clients.
“We need to be present and available to all potential clients in all marketplaces, and if a client wants to pay with Bitcoin, we are positioned to handle the transaction,” said Bob Denison.
By now, more companies have integrated technology, such as BitPay, to allow customers to pay for luxury goods or experiences. It’s not uncommon. But for those who are new to this, there might be a question of how? How do you charter a yacht using cryptocurrency? What’s the process?
Step One: Contact your charter broker
First thing’s first — if you’re excited about booking a luxury yacht charter in Europe or the Caribbean, contact your charter broker. Denison has an awesome charter team who’s excited to help guests book the best luxury experiences. Lewis Mabey and Eva Hiebert are two brokers who can get you started with charters around Europe, the Caribbean, and much more.
When you contact your charter broker, let them know that you want to pay for the experience using cryptocurrency. Denison accepts all cryptocurrencies (Bitcoin, Ether, Dogecoin, etc.) without a limit.
Step 2: Make a payment
After your charter broker helps you find the best yacht and destination for your experience, they’ll send you an invoice to make a payment. Denison uses BitPay to facilitate all crypto transactions.
BitPay is a safe and easy-to-use platform for crypto transactions. Your charter broker will send you an invoice, and you can choose to make a payment using one of your wallets. Your invoice will be sent at a locked-in exchange rate, and there will be a 1% transaction fee added to the invoice. After payment, BitPay converts the crypto for Denison and voila. You’re all set.
Step 3: Enjoy your yacht charter experience
Let the fun begin. After you pay for the yacht charter using crypto, it’s time to start packing. Before boarding, you’ll fill out a preference sheet that covers dietary restrictions, your favorite foods, beverage options, and special requests. The more precise you are, the easier it is for the crew to prepare for your charter. We also recommend letting the captain know which activities you want to do in advance to create an exciting itinerary.
Chartering a yacht in Europe may include island-hopping in Ionia, visiting a beach in Sardinia, or splashing into the cool waters off the coast of Ibiza. Your charter broker will work with you to create an itinerary, set a menu, and supply the yacht with must-haves.
If you’re chartering a yacht in the Caribbean, check out the top things to do during a BVI or Bahamas yacht charter. Swimming with pigs, snorkeling at shipwrecks, and drinking something called a Painkiller are what most days will look like in the Caribbean.
Don’t forget to tip your crew with cash, not in crypto.
Is it safe to pay with cryptocurrency?
One hundred percent. 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.
On top of that, the 1% fee is minimal compared to wire transfers or credit card processing fees. Transfers can take as little as a few seconds to a couple of minutes to complete. No need to wait for bank approvals.