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NEWS - Crypto

Buy Boats With Bitcoin

Posted Saturday, 14 April 2018

Boat Sales Tasmania is pleased to announce we are now accepting cryptocurrency payments in the form of Bitcoin, Litecoin and Ethereum.

What’s a Cryptocurrency?

Cryptocurrencies, or ‘cryptos’ for short, have dramatically increased in popularity in recent years mainly due to their meteoric rise in value. Investopedia defines a cryptocurrency as:

“a digital or virtual currency that uses cryptography for security. A cryptocurrency is difficult to counterfeit because of this security feature. A defining feature of a cryptocurrency, and arguably its most endearing allure is its organic nature; it is not issued by any central authority, rendering it theoretically immune to government interference or manipulation.” [1]

We won’t go into the finer details now but, if you’d like to learn more, follow this link.

Why bother?

Allowing cryptocurrency payments is really an ‘everything to gain, nothing to lose’ situation. We certainly aren’t cutting off traditional payment methods, but instead, adding another form of payment and in turn opening our market even wider. It’s another ‘string to the bow’ so to speak.

What does it mean for me as a seller?

Nothing! Unless you want it to. By default, when we sell your boat, you will receive the proceeds in Australian dollars. All agreements are quoted in Australian dollars and, for the most part, you may never know if the buyer is using cryptocurrencies to purchase your boat. We negotiate an acceptable Australian dollar price for your vessel and lock in an exchange rate at the time of payment[2]. If, however, both parties are crypto-friendly, we can execute the sale in the cryptocurrency of your choice.

I have crypto, what can I buy?

Boat Sales Tasmania has a huge range of used boats for sale all over our beautiful state. Take a look at our website and let us know if anything is of interest. In addition, we are the Tasmanian agents for Jeanneau Powerboats and Sailboats.  So, if you’re a hodler (not a spelling error, Google it!) and you’re in the market for a boat, please give us a call.

Boat Sales Tasmania prides itself on being at the forefront of technology in all aspect of our business. Our marketing strategy utilises digital media solutions over the traditional ‘outdated’ methods most brokers still use, as it provides a higher return per dollar spent and allows for a more targeted audience.

 

[1] https://www.investopedia.com/terms/c/cryptocurrency.asp
[2] Exchange rates as quoted on Independent Reserve

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