The Yacht Break is accepting crypto payments
In this article we will explain why we have added the ability to pay for your sailing holiday with cryptocurrency. We will explain what cryptocurrency is, why it might be a great idea for you to pay with crypto, and how you can pay with crypto for your next holiday. If you are thinking about joining the growing crypto community, hopefully we can help to clear up your questions so you can make the decision about if paying with crypto is a good choice for you.
What is cryptocurrency?
Cryptocurrencies have been around for many years now. Put simply, a cryptocurrency is a form of digital money that is different from the normal currency issued by governments. You can transfer traditional, non-cryptocurrency (or fiat money) like US dollars, euros and sterling digitally, but that’s not quite the same as how cryptocurrencies work. Cryptocurrencies are a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets.
You are likely to have heard of Bitcoin, which was the first decentralized cryptocurrency and by far the most well known, but there are many others. Some of the big names include Bitcoin Cash, Ethereum, Ripple and Tether. You can now use any of these cryptocurrencies to pay for your sailing holiday with The Yacht Break.
Why pay with crypto?
How do I pay with crypto?
Take a look at this step-by-step guide to paying with cryptocurrency.
Which top-up method can I use?
So how can you load funds into your wallet? Search the internet for crypto exchanges in your country. Different exchanges have different rules. Look for one that allows you to make deposits using your preferred method. Some of the ways that you can fund your wallet include:
- Debit card
- Wire transfer
- Online banking
- Credit card
Why would I pay with crypto currency rather than a credit card?
The difference between paying with crypto and on a credit card is the difference between push and pull. With a crypto payment, you push the money to who you want to give it to. With a credit card, the merchant has to pull that payment through a multilayer system (the merchant, the acquirer, the issuer and the individual cardholder). This pull approach can lead to problems, such as your account being frozen as a result of a fraud alert.
For shoppers, the advantages of paying with bitcoin include greater simplicity in placing the transaction, user anonymity, no interruptions from intermediaries, and very low transaction fees.
Using credit cards carries the risk of incurring late fees, interest charges, foreign transaction fees, and potentially adverse effects on your credit score. That said, credit cards offer important beneficial features, such as the ability to borrow money, protection against fraud, reward points, and vastly wider acceptance among merchants.
By providing the opportunity for our customers to pay with cryptocurrencies, we are giving you a wider choice. It is all about options and you can choose to pay with a method that you are comfortable with. If you are happy with credit card, and you have a 3D-Secure card that works with our system then you can still use that if you prefer. However, if you are frustrated by failed transactions, you can now consider using your cryptocurrency as an alternative.
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