Paying in Bitcoin

[whitegold79 259]

Hi All, has anyone purchased any watches with bitcoin?

The overall experience? Ease of transaction?

Procedure/app or way? (I've noticed certain TD's offer discount for bitcoin payments)

Thanks

 

 

Sent from my SM-G960F using Tapatalk

 

 

[deju 1,874]

Do you own bitcoin? 

If not then probably not the easiest payment method. 

[whitegold79 259]

Do you own bitcoin? 
If not then probably not the easiest payment method. 

No, not at the moment, but was thinking of it.
Is the additional 5% etc discount worth it, if it isn't easy?

Sent from my SM-G960F using Tapatalk

[deju 1,874]

It’s a pain getting money in and out, you’ll get a decent discount for WU too. 

 

[whitegold79 259]

It’s a pain getting money in and out, you’ll get a decent discount for WU too. 
 

Thanks again for the quick reply. Puretime for instance says western union no longer accepted in China, I'm assuming it'll be the same for all other TD's since reps are made in China?
Previously paid via PayPal and western union, both not accepted nowadays
Always hesitant to use credit cards (no discount either)


Sent from my SM-G960F using Tapatalk

[stoozak 1]

Piece of cake. For me it's significantly less hassle than WU or Moneygram and much less costly than Paypal.

[whitegold79 259]

Piece of cake. For me it's significantly less hassle than WU or Moneygram and much less costly than Paypal.

Can I ask how you do it plz? Any certain app etc?

Sent from my SM-G960F using Tapatalk

[stoozak 1]

You need to find a coin exchange that's easy to use in your country. With our local exchange we can transfer local currency for BTC, and then just send the BTC to anyone. 

 

Which coin exchange is best to use I'm afraid I cant help with....

[rek001 12]

Good topic, I'm wondering how to pay also, I'm so used to PayPal which I've used for over 10 years.

I've been doing research on Bitcoin payment process also (I'm in the US), and one thing I've read is you should put into your wallet only as much as you will be sending to your TD for your reps?

Also send bitcoin right away as the value may fluctuate?

And, what about refunds, what if the rep you want is out of stock?

 

 

 

 

[stoozak 1]

To avoid the out of stock/refund issue its best to always email the TD first to confirm.

If for some reason the deal falls through then, yes, there is a risk of some capital loss. I suppose if the dealer transfers the same amount of btc back you could also make money.

Whether you leave btc in your wallet is up to you, that's sort of the premise of investing in crypto. Could go up, could go down. Personally I just use it as a paymeb method so I only buy as much btc as I need.

Whichever market you sign up to, try use one that will allow direct deposits, otherwise you might incur PayPal fees to buy btc which defeats the point!

WTB: GF Breitling Avenger Blackbird

[ffuhcu 3]

I used Coinbase to pay Watch Outlet recently. My bank made it more of a pain than necessary by blocking me using my cards with Coinbase, otherwise it was pretty simple. I didn't research alternative or cheapest options, just went with Coinbase because that's what WO suggested and it seemed like a simple process.

Edited December 2, 2018 by ffuhcu

[deju 1,874]

Unless you’re tech savvy as a miner and user I still say it’s not the easiest most user friendly system for mass market.

If you must journey this path then grab a blockchain wallet and buy your btc from their exchange. 

Not you may lose your discount by not getting a great exchange.  

[Waspy 306]

What country are you in whitegold79?

I'm in the UK.

I used Bitcoin recently.

Pretty easy TBH.

I used Coinbase, pay funds from my bank to my wallet, then buy some Bitcoins with my wallet, then send bitcoin to whomever you want.

I did have to send an image of my Driving Licence to Coinbase.

RWI member Pyknic is a bit of an expert and he talked me through it (I don't know if he is a member here) he is totally up for helping noobs.

[onzenuub 307]

Binance, Bittrex, Coinbase. They are all easy to use and it works most of them the same. Litebit. eu is a dutch site and coins can be bought there easy too.

[whitegold79 259]

What country are you in whitegold79?
I'm in the UK.
I used Bitcoin recently.
Pretty easy TBH.
I used Coinbase, pay funds from my bank to my wallet, then buy some Bitcoins with my wallet, then send bitcoin to whomever you want.
I did have to send an image of my Driving Licence to Coinbase.
RWI member Pyknic is a bit of an expert and he talked me through it (I don't know if he is a member here) he is totally up for helping noobs.

Thanks
UK aswell
Encouraging, I'll chk it out

Sent from my SM-G960F using Tapatalk

[Waspy 306]

If you do talk to Pyknic he can explain in more depth on how to pay neglible fees by using Coinbase Pro.

[MOT 0]

This is a good subject, its becoming more viable all the time.  Bonus of getting a bit older is that i dont give a shit, you lot can deal with it

[whitegold79 259]

I used Coinbase to pay Watch Outlet recently. My bank made it more of a pain than necessary by blocking me using my cards with Coinbase, otherwise it was pretty simple. I didn't research alternative or cheapest options, just went with Coinbase because that's what WO suggested and it seemed like a simple process.

Did you have to speak to you're bank?
How did you get the block lifted?

Sent from my SM-G960F using Tapatalk

[Waspy 306]

My experience was I paid by bank transfer, so it was just like paying a utility bill in the UK, no questions asked. This was with Lloyds Bank.

It sounds like ffuhcu may have paid by credit or debit card.

 

[RUSH2112 11]

9 hours ago, whitegold79 said:

Thanks again for the quick reply. Puretime for instance says western union no longer accepted in China, I'm assuming it'll be the same for all other TD's since reps are made in China?
Previously paid via PayPal and western union, both not accepted nowadays
Always hesitant to use credit cards (no discount either)


Sent from my SM-G960F using Tapatalk
 

This does not say WU is no longer accepted in China, btw.  It says PT no longer accepts it.

[FoxWilde 155]

Other TDs will take WU. Easiest way IMO

[NCRich 13,750]

I've had three members who lost over a hundred each in purchases where there was no stock.  They asked me what they could do and I had to tell them nothing.  Bitcoin flutuates a LOT.

I'm happy with the pedestrian WU.  Its only PT that doesn't accept it, and I don't buy from them anyway.

[whitegold79 259]

I've had three members who lost over a hundred each in purchases where there was no stock.  They asked me what they could do and I had to tell them nothing.  Bitcoin flutuates a LOT.
I'm happy with the pedestrian WU.  Its only PT that doesn't accept it, and I don't buy from them anyway.

Thanks. If WU is accepted it's probably easier. I've used it before.
Any suggestions which TD's accept WU (just to save me clicking through each one) if anyone remembers?
Thanks

Sent from my SM-G960F using Tapatalk

[ffuhcu 3]

17 hours ago, whitegold79 said:

Did you have to speak to you're bank?
How did you get the block lifted?

Sent from my SM-G960F using Tapatalk
 

No. They only block their cards, so instead I paid via bank transfer which delayed things a little bit as I had to make an initial transfer and wait for my account to be approved in Coinbase. Wasn't too bad. Lloyds TSB btw:

https://www.theguardian.com/business/2018/feb/05/lloyds-bank-bans-buying-bitcoins-credit-cards

 

Edited December 3, 2018 by ffuhcu

[AlyviaGentry 0]

Yes, I had once, and I've noticed that some watch dealers offer discounts specifically for Bitcoin payments, which is a nice perk if you're already holding some crypto. All in all, I'd say paying with Bitcoin for watches has been hassle-free and a cool way to utilize my digital assets.

Edited May 24, 2023 by AlyviaGentry