Helm, charter broker, accepting crypto currency

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UK charter broker Helm is to start accepting crypto currency as payment for yacht charters. The company says this makes it the first UK charter broker to move into the area.

“We have long been interested in the potential of crypto currencies like Bitcoin and Ethereum to provide our clients with a speedy, secure and seamless service,” says Peter Harrison, founder.

“Now that there are several established exchanges, getting and using coins is incredibly easy and convenient.”

He says the new move has partly come about due to the company’s wealthier clients making last-minute decisions, a position brought into even sharper focus by the unpredictable nature of the current pandemic.

“For crewed yachts, and this year in particular, many of our clients like to review all of their options and leave things quite late in the day before making the booking. The beauty of crypto is that you can confirm the booking on a Friday afternoon, securely transfer the funds almost instantly and be relaxing aboard the following day.”

As a new form of money, says Helm, crypto currency is decentralised and not controlled by an organisation or government, but traded peer-to-peer.

This means anyone can transfer any whole or partial amount of Bitcoins to a business or another person instantly, with each transaction entered into a publicly-available ‘ledger’.

The ledger uses blockchain technology to ensure security and avoid manipulation – the currency is supported by immutable maths instead of banks or governments.

One response to “Helm, charter broker, accepting crypto currency”

  1. Wayne Kerr says:

    This is a gimmick surely. With Bitcoin being so hugely volatile a charter could be worth many thousands less. Even if it were for an immediate start. Are they seriously asking yacht owners to gamble with their charter income?

This article was written and/or edited by the UK-based MIN team.

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