One of the first steps required for cryptocurrencies to gain mainstream adoption is for merchants to begin offering their clients the freedom to use these alternative payment methods. BitDials is the world’s first crypto-only luxury boutique where customers can purchase premium designer watches and jewelry with their favorite cryptocurrencies.
BitDials as a Hedging Tool for Crypto Investors
Launched in 2016, BitDials is the result of an early crypto adopter and an established exclusive watch retailer from Germany. Their goal was to create a marketplace that besides offering a variety of luxury watches from nearly each and every famous manufacturer, it would also function as a “cash out” intermediary.
This applies to investors who seek to diversify their portfolio or to protect themselves from high cryptocurrency price fluctuations by investing in luxury jewelry and watches, which are made of precious metals. Alternatively, the company offers investment opportunities to car enthusiasts via a dedicated platform, dubbed BitCars, which operates similarly to BitDials. Customers can find a collection of classic and premium cars that can be purchased with a digital currency.
‘Safety First’ is BitDials’ Highest Priority
Although its creators have been in the watch industry since 1999, they find that crypto enthusiasts define a unique customer category with new purchasing habits. They are extremely cautious about their privacy, as they can utilize information better than other customers and demonstrate extensive knowledge about luxury watches. For this reason, BitDials’ primarily focuses on the safety of transactions and the privacy of its customers. It operates as a centralized entity that connects credible suppliers to customers, by a fully transparent system which verifies the authenticity of an item and keeps track of the delivery until it reaches the end user.
BitDials was initially launched to operate as an open trading platform. But because cryptocurrency transactions are not supervised by any authority, the project soon had to transform into a closed platform with a narrow selection of trusted merchants. This allowed BitDials to focus on the effective monitoring of transaction security and conduct proper due diligence prior to adding new suppliers to the platform. BitDials acts as an auditor between the buyer and the seller, who oversees the transactions and records all product information, but keeps customer data private. It has developed a structure with which customers can purchase goods in a way that secures private and legally compliant transactions.
The BitDials website provides a user-friendly interface, where customers can easily navigate and find the item they’re looking for. In particular, visitors will be able to find a selection of watches, fine jewelry such as rings, earrings, bracelets, necklaces, and diamonds. Product pages contain a description and detailed information about each item’s producer, materials, and condition. BitDials is currently the only full-featured marketplace for luxury watches and jewelry accepting payments in cryptocurrencies. It also allows online marketers to generate income through an affiliate marketing program, a new feature the company implemented to its website recently.
BitDials offers a 10% discount code on all new watches and jewelry, until January 10, 2019 (discounted and used products are excluded).
BitDials Offers Flexible Payment Terms and Accepts Multiple Cryptocurrencies
BitDials is incorporated in Gibraltar, but its main office is located in Frankfurt am Main, Germany, as is its warehouse, where the company keeps stock of a limited number of immediately available products. Buyers can purchase these products and pay on the spot, however, for pre-ordered products they will need to pay in advance. Regarding payment terms, BitDials can be flexible as long as it can find a reliable payout structure with the buyer. It provides them also with the option of down payments, which is dependent on the product and usually ranges between 10%-30%.
BitDials’ customers come mostly from the European Union and the USA, but as the company’s reputation expands, it attracts interest from customers in Japan and the UAE. BitDials has a high rate of returning customers which, according to the company’s representatives, is due to the positive customer reviews the company receives in online services like Trustpilot and Chrono24. Both BitDials and BitCars accept payments in BTC, BCH, ETH, XMR, LTC, DOGE and DCR, and all transactions are processed by BitPay and GloBee.
BitDials’ Shipping Methods and Presence on Social Media Platforms
BitDials offers next-day shipment and delivery time can take up to 2 days within the EU and up to 10 days for countries outside the EU. It ships worldwide fully insured with trusted companies like DHL, FedEx, and TNT, depending on the destination. Buyers can also communicate with BitDials to visit Frankfurt to pick up their goods physically. All products are delivered in their original boxes with all the available certificates and manufacturer’s warranty.
Customers can reach BitDials on a hotline number, but as its target group comes from the cryptosphere, the company mainly uses the community’s favorite communication methods. Therefore, they can send their queries via on-site chat, email and social media platforms such as Facebook, Twitter, Instagram, and Telegram.