No one should go into buying their first yacht without a lot of thought. If you don't know what you're doing or have any experience, it's easy to be led astray by the creative yacht ideas of designers who push the limits or to be talked into building or buying an ultra-expensive yacht with technical features that you'll end up never using.
Buy your yacht with crypto
Use XEROF cryptocurrency gateway to buy your first yacht with crypto. Our service lets you spend your crypto like a fiat currency, all while being compliant, fast, and easy to use. Use BTC, ETH, USDT, or USDC to make purchases in CHF, USD, EUR, GBP, and AED. Spending your cryptocurrencies on luxury goods is made easier than ever before with XEROF.
With this in mind, we have chosen to offer top tips for buying your first yacht with cryptocurrency in this post. Hopefully, these tips should make it as easy as possible to finalize your purchase of the perfect yacht for your specific needs.
Consider your options
The very first thing to do is to consider your options. There are a wide variety of yachts to choose from in multiple different price classes. You can get a more modest yacht for around $500.000, or spend upwards of $100.000.000 for a superyacht that is sure to grab the attention of everyone you pass.
Thus, one of the very first things is to consider how much you are willing to spend on your yacht.
Aesthetics are hugely important when it comes to selecting the right yacht. After all, if you simply wanted a vessel that floats, a simple row boat could do the trick. So it is important to consider which aesthetic you prefer most.
Do you want a yacht with a simple appearance without as many flashy accessories, perhaps a yacht that resembles a sailboat, or maybe an extremely flashy yacht with a rooftop jacuzzi?
There are no right or wrong answers, everyone has their own preferred aesthetics, and as you are shopping for your future yacht, it is an important thing to thoroughly think about.
Keep your travel plans in mind
If you plan to simply keep the yacht in a bay area and not do any extensive travel, then this part is not as important to consider. But if you plan to embark on lengthy naval adventures on your yacht, then the distance of the trip is worth thinking twice about. Not all yachts are built equally, and some will be able to spend more time at sea than others.
As a general rule of thumb, the size of the yacht directly correlates to how far the yacht can travel. This is due to the simple fact that a bigger yacht can fit a bigger fuel tank. However, It's not always a guarantee, as yachts of the same size don’t always have the same engines, fuel tanks, or other mechanical components.
So, if you plan to cross the Atlantic or Pacific oceans in your yacht, the capacity of the fuel tank, as well as the ability to store extra fuel onboard, is definitely something that is worth keeping in mind before making your final purchase.
Charter before you buy
To ensure that you know what to expect, it’s a good idea to go ahead and charter a yacht before you buy one. There are a lot of mix-ups between renting a yacht and chartering a yacht, with people using the two interchangeably. We will explain the difference between the two below.
Renting a boat usually means that you only get the boat itself. You then have to provide your own supplies and captain the ship on your own behalf. Chartering is similar, but usually means that you will also be getting staff included, as well as not having to provide your own supplies.
It is worth noting, however, that there is such a thing as a “bareboat charter”, which essentially means the exact same thing as a rental. Namely, you have to do everything yourself and provide all your own supplies.
When chartering a yacht, you get the full experience of being a yacht owner, which makes it a perfect experience to have before finalizing the purchase of your very own yacht. It can be likened to taking a car for a test drive before you buy it, or dipping your toe in the water before you dive in.
Be patient and don’t rush into things
Patience is one of the most important things when browsing and buying a yacht. Take your time to research and figure out what you need from your yacht before making your purchase. Look into as many aspects as possible to ensure that your yacht will be able to meet your needs and your expectations.
There have been numerous times where excited buyers have bought a yacht, only to find out it cannot handle the travels they have planned for example. This then leads to disappointment and the immediate wish to upgrade.
So one of the biggest tips, and words of wisdom, is to simply try your best to be patient. As exciting as it may be to finally fulfill the dream of owning your very own yacht, patience will be rewarded in the long run.
Purchasing a yacht is undeniably one of the most exciting purchases you can make. This also makes it an important purchase that is worth thinking about before making your mind up. By considering your options and keeping your travel plans in mind, you minimize the risk of running into unfortunate surprises.
Above all else, be patient and take your time to avoid spending your funds on a yacht that is subpar. Remember, you can use XEROF to buy your yacht by using crypto such as Bitcoin or Ethereum, making the purchase as simple as possible.
XEROF is a Swiss-licensed Crypto Gateway that offers exchange services for customers who possess crypto wallets and want to use them as fiat currency to purchase real estate properties and luxury goods.Learn more about XEROF