For anything to be considered a currency, it has to have one redeeming feature—it has to be spent. Sure, most know that economists define currency only after meeting three requirements: it must function as a medium of exchange, must be a unit of account and must be a store of value (although a promissory note is considered legal tender, but isn’t a store of value). But the main premise of a currency is that it be used to buy stuff. If it’s not being spent, how can it be a currency?
There have been a number of retailers worldwide that have been accepting cryptocurrency as it develops a greater following, and Bitcoin Cash (BCH), in less than a year, has quickly become one of the most common alternatives to fiat payments, in part due to the successful Bitcoin Cash Fund initiative. For high-end crypto fans looking to make a sizeable investment, perhaps Denison Yachts will suit you.
Denison is one of the growing number of retailers—and a leading yacht broker—that now accepts BCH payments for purchasing a Hatteras, Carver or Riviera yacht. The company works with the U.S.-based cryptocurrency payment services provider BitPay to make yacht ownership come true.
BitPay began supporting BCH payments this past March. Since then, the number of BCH retailers has increased substantially. With over 100,000 affiliated merchants, the company is making it easy for any retailer to embrace digital currency. Transaction fees are extremely low—around 1%—and are deposited the following day, making it an attractive alternative to wire transfers that carry outrageous fees and typically take, at a minimum, a couple of weeks to be completed. To find out how businesses can easily integrate Bitcoin BCH payments with BitPay, read here.
Denison is one of the most trusted names in the yacht world. It first set sail in 1948 in Fort Lauderdale, Fla., and continues to flourish today around the world. No matter where you are, chances are there is a Denison broker nearby that can help you with your purchase. Owning a yacht is a great experience; being able to pay for it with BCH is an incredible bonus.
If you’re interested in helping the growth of merchant adoption of Bitcoin BCH, join the bComm Association, an industry group that intends to be the focal point for miners, merchants, exchanges, developers and members of the BCH community. Developers and merchants of the Bitcoin BCH community will also be on hand for the first CoinGeek Week Conference happening in London on Nov. 28-30.
Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.