Camper & Nicholsons – a company that sells, manufactures, and charters luxury yachts – has teamed up with Bit Pay to permit companies and individuals in need of boating services to pay with crypto assets like bitcoin.
Camper & Nicholsons Says “Yes” to Crypto Payments
The move is pushing the goals of bitcoin and its digital counterparts closer to being achieved. What many people likely forget is that while bitcoin and many of its crypto cousins have taken on either speculative or even hedge-like statuses in recent years, many of them were initially designed to serve as payment tools. They were built to push checks, credit cards, and fiat currencies to the side, but this has been a relatively slow journey given the volatility that continues to drag them down.
It is extremely hard to understand when bitcoin and its crypto family will go up or down when it comes to their prices. Many stores and companies have been reluctant to say “yes” when it comes to accepting crypto payments for this reason, and to a degree, we can’t blame them.
Consider the following scenario: someone walks into a store and buys $50 worth of merchandise with bitcoin. For one reason or another, the store doesn’t trade the BTC into fiat right away and about 24 hours go by. From there, the price of BTC goes down and that $50 becomes $40. The customer gets to keep everything he or she bought, but the store has lost money in the end. Is this a fair situation? Not everyone thinks so.
That’s what makes enterprises like Camper & Nicholsons so important. They understand the initial purposes of bitcoin and digital currencies and are trying to transform them into usable tools that everyday people can benefit from.
The company believes it’s going to increase its sales numbers and bring several new customers to the fray. In addition, executives are convinced their crypto maneuvers will open the firm up to entirely new markets. Paolo Casani – CEO at Camper & Nicholsons – explained in an interview:
We decided to accept crypto to expand our market, cater to new consumer preferences, and give customers more options, flexibility, and freedom. Bit Pay manages the entire process and makes it easy and safe to receive crypto from the customer and deposits cash into our account.
Moving the Space Forward
Merrick Theobald – vice president of marketing at Bit Pay – also threw his two cents into the mix, commenting:
Camper & Nicholsons realizes the potential for crypto to transform the yachting industry, making payments faster, more secure, and less expensive on a global scale. With the total market cap of crypto approaching $2 trillion, Camper & Nicholsons is well-positioned to take advantage of this wealth by helping crypto holders who are looking to purchase luxury items like yacht sales and yacht charters.
