The world of luxury yachts is synonymous with opulence, adventure and exclusivity. Yet there’s a subtle but significant transformation underway within this elite industry – the integration of cryptocurrencies.

Traditionally, yacht brokerage has been a challenging and competitive field, with brokers often funding their operations until that elusive first deal. The industry is characterised by self-employment, lack of basic salary or income certainty, and intense competition for affluent buyers.

Today, the clientele for luxury yachts spans various age groups, from traditional older yacht owners looking to upgrade their vessels to secretive business magnates seeking opulent escape options. However, a fascinating new demographic is emerging – young, crypto-native millionaires and billionaires.

Cryptocurrency, which has created significant wealth for many under-50s in recent years, is gaining prominence as a means of conducting high-value transactions. These individuals, wary of traditional banking systems, are turning to platforms like Bitcashier to purchase assets such as yachts, aircraft, real estate and luxury cars.

HOW DOES IT WORK?

Using cryptocurrency to buy or charter a yacht is simpler than it may seem. It’s akin to a foreign exchange transaction. If you have euros and want to make a purchase in dollars, you use an FX platform to convert your currency. The process is comparable to dealing with cryptocurrencies.

Here’s a practical example: a buyer wants to acquire a US$10 million yacht and intends to use their cryptocurrency holdings for the purchase. The buyer informs the broker of their cryptocurrency preference, who, in turn, contacts Bitcashier.

After conducting Know Your Customer (KYC) and Anti-Money Laundering (AML) checks and wallet analysis, Bitcashier provides a cryptocurrency invoice to the broker and client, indicating the amount of cryptocurrency required for the transaction.

Once the buyer transfers the specified cryptocurrency amount, Bitcashier promptly converts it into the equivalent fiat currency and transfers it to the yacht broker’s account.

This process, completed within about 20 minutes, aligns seamlessly with standard contractual terms, ensuring the broker always receives the agreed-upon fiat sale price. Bitcashier facilitates these transactions by charging a fee to the crypto client, offering significantly faster transaction speeds compared to conventional bank transfers.

WHY CHOOSE BITCASHIER?

Bitcashier stands as a bridge between traditional luxury markets and the digital age, facilitating seamless, convenient and secure transactions. The platform’s commitment to innovation and transparency makes it the preferred choice for discerning clients in various sectors.

With its real-time exchange platform and extensive experience, Bitcashier successfully completed eight superyacht sales and six charters in 18 months. Its key attributes, including the speed of transactions and continuous operation – it’s available all day, every day – make it a valuable partner for businesses operating in high-value luxury markets.

In a world where cryptocurrency is gaining traction as an alternative financial asset, Bitcashier empowers yacht brokers and charter companies to tap into a previously untapped revenue stream. As a fully regulated, insured and trusted global partner, Bitcashier enables them to attract young, wealthy individuals who are increasingly turning to cryptocurrencies for their financial transactions.

In conclusion, the yachting industry, like many others, is adapting to the rise of cryptocurrencies. Bitcashier is at the forefront of this revolution, providing a secure and efficient gateway for cryptocurrency enthusiasts to access the world of luxury yachts and high-end assets.

Whether you’re a seasoned yacht broker, a charter company or an affluent buyer, Bitcashier is changing the game by making luxury more accessible through digital innovation.

GILES WHITBY-SMITH

A former investment banker in London, Whitby-Smith is CEO of Bitcashier, which he co-founded with Marc Dominic (CTO) in 2020. His strong experience in financial instruments and his successful entrepreneurial history have helped Bitcashier become a leading brand in the yachting marketplace for enabling crypto transactions. Bitcashier is a fully regulated, easy-to-use platform offering risk-free transactions for buyers wanting to use cryptocurrency to buy or manage their yachts or fleet.

info@bitcashier.io

www.bitcashier.io