Watches are a major hobby for a lot of people, but they can also be expensive – something that makes buying them with Bitcoin a worthwhile option.
But can you actually buy watches with Bitcoin, or is that just another quirk of some platforms that do not really offer any value?
If you are interested in buying up some watches of your own, either for a collection or just as a fashion statement, then Bitcoin can be a great alternative to buying them with cash. But how reliable would it be to do this?
Is it legal?
Buying a watch using Bitcoin is perfectly legal as long as the platform allows it – Bitcoin is just another form of payment, so you should not have to jump through any other loopholes to make a proper purchase using it. In fact, it can actually have fewer restrictions than regular cash might.
This makes Bitcoin a legal method to buy watches, as well as a convenient one. The only thing to consider is Bitcoin’s ever-changing value: if you just barely have enough for a watch, waiting too long might see the value drop enough to the point that you can’t afford it anymore.
Is it safe?
Bitcoin is as secure as any other major currency and can often be considered more secure thanks to the blockchain. This means that you are basically never going to have problems with actually managing your Bitcoin, as long as you are smart with how you use it.
It is important to remember that the seller still needs to be somebody you trust. If you give your BTC to a scammer who just takes it and leaves, you can’t necessarily do anything about that. Look for reliable and trustworthy platforms above all else, even if you consider yourself experienced enough to avoid obvious scams.
Why use Bitcoin over normal currency?
Bitcoin’s fluctuating value means that it can sometimes become far more valuable than it already was, basically giving you an extra boost of money for nothing. This can be important for watch collectors since a lot of watches are fairly expensive and might not be attainable if you are just buying the watch normally.
On top of that, Bitcoin is very secure and owner-controlled. You can decide exactly how much you want to spend when you want to spend it, and sometimes even the exact method that you want to use to transfer your Bitcoin to the seller. The improved security alone has made many people prefer it over bank payments.
Most major watchmakers and dealers will accept Bitcoin, meaning that it is not going to be as much of a niche option as it used to be. It can even be the preferred payment method for many of them since it means that nobody has to exchange bank information or put personal details on the line.
If you want to know more, consider using XEROFs guide to buying watches with bitcoin. It can give you a good breakdown of all the benefits and quirks you might want to be aware of before you start making Bitcoin payments.