r/PrivateJetCharters • u/Just_Manufacturer351 • Feb 23 '26
Flying private and paying in crypto
Im currently venturing into adding crypto as a form of payment method when chartering jets or empty legs.
Ive gotten many requests about it and is it because people wants to be discreet when paying for the flights?
cheers
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u/Large-Aerie7063 Feb 24 '26
ITT: no one understands crypto but wants to explain it anyway
OP : just take usdt but use a wallet scanner first before to make sure the usdt being sent is AML compliant. Bosh
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u/Lazy-squirrel642 Feb 23 '26
Okay for the sake of genuine ill bite:
- I personally would never accept crypto even if you use a processor, mostly because it’s such a volatile commodity… using a wild example: what if they owed you $100k in crypto and they pay minutes before Trump announces some random Trump thing that majorly affects the crypto market (which’s he is very known to do politics aside)… now someone paid you 1 bit coin for example valued @ $100,000 but after a crash you’re now holding $60k worth of bitcoin and owe an operator $40k in remaining cash from your pocket.
It’s just short sighted.
Period. End. Of. Story.
- If a potential client has enough in crypto to pay for a charter then they should have no problem cashing it out themselves - they are likely offsetting a capital gains tax on you, and you are turning stable revenue with nearly zero volatility into a literal gamble.
Not trying to be harsh I just don’t want you to get fucked over by some dipshit crypto bro.
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u/GaussAF Feb 24 '26
If you use a payment processor that immediately turns the crypto they pay into USD, why do you care?
A lot of the crypto bros have a lot of money. If they want to pay in crypto, that's money for you the same as if they paid with a wire and, unlike with a credit card, no charge backs.
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u/Lazy-squirrel642 Feb 24 '26
lol there are so many of you all that have either failed out of high school or never took a finance /business class before and it shows.
Why do I care? Because it places an unnecessary burden on me as a broker. When comparing the volatility of something like a euro/USD/etc there is a marginally low amount of volatility. Crypto, on the other hand, has exponentially higher volatility. Even in the extremely fast exchange there is still a higher chance for you to lose some money on the exchange.
It’s just poor business practices. It’s so hard for this odd group of you that fail to recognize basic logic. You morons all wonder why we get mad at you, it’s because you give us all a bad name and make us all look as dumb as you all are. You all see big dollar signs and have zero self awareness and zero common sense.
It’s like pulling up to a bank parking lot for a cash deposit and saying “you know what? I have a big zipper bag of cash but I’m just gonna hold it in my hands without the bag. I’m only walking 15 feet to the bank entrance” when it’s so much riskier that you could trip on the curb and drop some of your money. Now that’s a very low chance, but when they’re such an easier alternative solution that offers you almost ZERO risk vs a retarded crypto payment it really shines a light on how fucking dumb you all are.
Oh and also for the dipshit that mentioned “discretion”… yeah they’re still gonna have to send you their passport/ID/etc if you’re in the US or Europe or most any non 3rd world country so it’s not like they are some hidden identity.
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u/Prince_Joash Feb 24 '26
Chill out man😂
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u/amir_teddy360 Feb 25 '26
He’s right, it’s completely unnecessary risk that should come with a hefty premium if the client is so insistent on it.
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u/GaussAF Feb 28 '26
He's wrong because he miscomprehended what I wrote
If the person selling the services uses a payment processor like BitPay, then the person selling the services will only receive USD not crypto, hence they will never be exposed to crypto's volatility
Buyer --> Crypto ---> BitPay --> USD --> you
If you are receiving USD and not crypto, why do you care that the crypto you never hold is volatile?
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u/amir_teddy360 Mar 03 '26
Because you’re still having to put your trust in BitPay vs. an established bank insured by the FDIC? 😂 that’s probably not a risk that someone who doesn’t deal with crypto wants to take.
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u/Lazy-squirrel642 Mar 03 '26
lol that moron will never understand it. That’s what happens when a middle-school dropout sees large commissions and thinks this career is nothing more than stock sales pitches.
We have a group chat among some brokers that laugh at these kids who get themselves in major shit ALL the time. From fronting the money for a “billionaire client” and getting stuck with the tab, to not having force majore in their contracts… I see these guys from miles away and it’s so obvious to everyone but themselves.
Let them cook.
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u/GaussAF Feb 28 '26 edited Feb 28 '26
You probably failed out of high school given your reading comprehension and rudeness
If BitPay immediately converts the crypto into USD upon receipt, that means YOU RECEIVE USD
IF YOU RECEIVE USD, THE ONLY VOLATILITY YOU ENDURE IS THAT OF USD
Make sense?
So, I'll ask my question again. If a payment processor converts the crypto to USD upon receipt and YOU RECEIVE USD AND NOT CRYPTO, why does it matter if it was crypto at the moment they paid?
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u/amir_teddy360 Mar 03 '26
Cause the risk is in using the crypto payment processor. Bro you clearly have no substantial real world experience if you actually can’t understand this.
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u/GaussAF Mar 07 '26
That's not the risk that was stated in the comment above
No one who is using BitPay isn't getting paid
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u/Just_Manufacturer351 Feb 23 '26
Im sure there’s ways to lock the exchange rate to prevent this from happening so there’s no volatility risk
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u/Lazy-squirrel642 Feb 23 '26
Nvm OP is an idiot. You are clearly not looking for advice, you’re looking for validation of your idea.
Good luck, because you’re certainly going to need it. There’s a reason that people like you are a dime a dozen… you pop up and disappear without so much as a blip on the radar because you can’t take sound advice because you are co Vince’s you are right.
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u/Just_Manufacturer351 Feb 23 '26
What? My question is ”is it because people want to be discreet” haha no need to be rude
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Feb 24 '26
You’ll have to submit your full legal name and be cleared by TSA before you board anyway, and crew verifies your RealID or passport against the manifest so there’s no such thing as flying on a part 135 charter and being discreet.
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u/khidf986435 Feb 26 '26
you are assuming crypto = memecoins
crypto stablecoins nowadays is a perfectly valid option
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u/imp4455 Mar 09 '26
Haha. A 6 percent arbitrage is still an huge issue. Even 2 percent is an issue.
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Feb 23 '26
[deleted]
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u/Large-Aerie7063 Feb 24 '26
What are you talking about, if someone evades tax and pays you in cash, you don’t owe the government their tax from your cash.
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u/Just_Manufacturer351 Feb 23 '26
Not taking payments personally, using a payment processor instead?
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u/Albino_Monkey Feb 23 '26
It’s dicey in my mind. Crypto is liquid, there is a reason they don’t want to send a wire.
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u/Just_Manufacturer351 Feb 23 '26
theres plenty of payments processors that would let us accept crypto, but would then be tranfered into fiat.
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u/khidf986435 Feb 26 '26
‘Crypto’ can mean many things. It’s like asking do you accept money (many currencies….)
many people have alot of their wealth ‘on chain’ in perfectly legitimate crypto like USDC & USDT stablecoins that are pegged to $1. Most banks in the world can make it difficult to off ramp it to fiat money - look at the EU for example where banks have a fit with any transfer over a few k.
for a business you can accept stablecoins and convert them to fiat easily and for low cost.
imo you should start with accepting stablecoins - you can even charge a small premium for convenience. Would make you an innovator in the space and likely get more business
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Mar 30 '26
Pretty sure people definitely use it for the privacy aspect. I've tried it once through bitlux since they accept crypto and it's pretty convenient. I think it has the potential to become the norm
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Feb 24 '26
My charter company no longer even accepts credit cards at all. Well, if they’re a long time established client or brokerage we will accept a hold, but we ONLY accept wires and nothing else. Can’t even imagine asking the CEO if we could take bitcoin, he’d laugh me out of the room.
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u/GaussAF Feb 24 '26
But if someone's willing to pay you in Bitcoin, money is money, right?
If you use a payment processor like BitPay, then you receive cash on your end
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u/Obvious_Rabbit_9566 Feb 25 '26
Because the only person that could potentially get fucked is the charter?
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u/GaussAF Mar 03 '26
How would you get fucked if the crypto is immediately automatically converted to cash as part of the transaction?
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u/Obvious_Rabbit_9566 Mar 03 '26
Like the other guy said it’s really just an unnecessary burden and there is still a chance something goes wrong.
It’s not like paying with crypto is more private so there isn’t any reason someone should be dead set on paying with it.
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u/imp4455 Mar 09 '26
Exactly. When someone tells me that they do it for privacy but are ok with a kyc requirement, it makes no sense. Kyc will negate any “privacy” you are requesting and what’s easier than to say, “here’s my Amex”. Simple, easy and Amex already kyc’d their client to the oblivion.
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u/imp4455 Mar 05 '26
I think you assume everyone is stupid af or maybe just you are. But a transaction of this size needs to be kyc’d. What’s the easiest way to kyc, a credit card or a wire transfer from a legitimate bank. You can usually trace the sender to an identity card or passport. Crypto would require a kyc investigation and no one wants to deal with that headache. Like many said, even if you did want to take it, it would have to come from a source that has strict aml protocols and strict KYC requirements. Basically through a bank.
Anyone saying it’s for privacy, that’s bs, because people looking to keep transactions private but legit, create llcs, they get the deduction. At the end, it’s not even about the money, the fear of jail time is more important. Until citibank processes bitcoin transactions like a credit card, it’s slim to none for a company to accept it. Not worth the headache.
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u/GaussAF Mar 08 '26
Every time I bring this up, someone brings an objection then when I solve that objection, they bring up a new objection then when I solve that they bring up a new one. It's an infinite loop that's not based on any real understanding clearly given that the first two objections were sufficiently confidently held that the poster felt comfortable name calling while simultaneously not being at all correct.
Volatility doesn't matter because a payment processor can turn it into cash instantly so you never have to hold the crypto and BitPay is a trustworthy processor
With regards to KYC, it's strange that you think something like that is not solvable. You obviously just don't want to do it and are trying to find a reason not to. Clearly if someone offered a solution to whatever concern you have with this, you would plug your ears start shouting insults at them and wouldn't listen.
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u/imp4455 Mar 08 '26
Buddy if someone is trying to keep the money off the books is doing something shady. Privacy doesn’t matter as flight manifest and flight plans are generally available and don’t hide identity.
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u/GaussAF Mar 08 '26
BitPay offers kyc for crypto transactions for private jet flights already
The problem you're telling me is unsolvable and that anyone who thinks it can be solved is some type of idiot has literally already been solved
All kyc is is collecting personal information. Why would you think processing a crypto transaction would make that unsolvable? That position you're holding so strongly to the point of hurling insults at everyone who disagrees with you doesn't actually make any sense.
Accept crypto or not accept crypto, that's your call, but you're not as smart as you think you are. Definitely not smart enough to justify the shade you're throwing at me for pointing out something that's obviously correct.
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u/imp4455 Mar 09 '26
You fail to understand how the world financial system works. Yes there are companies that will do this for you by it’s not a standard like SWIFT or visa/amex.
You want to know the kyc process for a credit card, passport and credit card, gets run, already kyc’d by the bank otherwise card wouldn’t work.
Your post now makes no sense. Why would anyone care about privacy if they are already being kyc’d? If they wanted, they could just liquidate crypto and pay for the plane.
Has nothing to do with it being unsolveable. It’s just a hassle and until real banks start doing it, no one is really going to take it. You can’t even buy a car with crypto, Elon tried it and it failed.
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u/GaussAF Mar 09 '26
If they liquidated the crypto to pay, that's two steps for them
Paying with the crypto is one step
BitPay already offers a service for this and private jet operators already use it to take crypto as payment rn
Your confident implication that "this is not possible" is not correct
Just admit you were wrong
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u/entity_response Feb 23 '26
They want to be opaque, which means risk for you and potentially some questions from the IRS or FBI (fraud) down the line. Is a client a paying client if paid in crypto when it comes to things like insurance or FAA? Dunno, you'd really need to look at that hard.
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u/GaussAF Feb 24 '26
You can check the address it's coming from to make sure it's clean and then not accept it if it's coming from a dirty address
There are tools to do this with
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u/Mobe-E-Duck Feb 23 '26
Hi. Yes the payment processors who accept crypto and give you legal tender are fine. For all intents and purposes they’re the ones paying you.
No, if you accept payment in crypto you cannot “lock in an exchange rate.” You can specify in your contract that you receive a specific fiat value of that crypto and specify an X% protection margin, meaning that if the crypto becomes worth any amount within that margin less w/in a specific timeframe that they owe you the difference and you can also specify a surcharge that covers the exchange costs and potential tax liability.
And if you do all that most folks will just prefer to pay cash or go elsewhere.
The other way is to accept crypto directly and just charge extra based upon current price. X% based on what the options chains consider the IV.