>> ERIC: This is Watch Your Style.
On today's video we're gonna be discussing how to buy watches with Bitcoin and other
cryptocurrencies.
So more and more customers are lately requesting to actually buy watches from me with Bitcoin
and other crypto currencies.
It's just been something that as this whole evolution of the whole cryptocurrencies has
been going on, more and more people want to actually buy things with it.
Now, in the beginning I was not really able to facilitate such deals mostly because of
the way to actually handle the transactions, but nowadays it's been a lot easier with this
new service that we use.
It's called BitPay.
I actually just recently sold a $100,000 Patek with BitBay.
He paid with Bitcoin and it was actually very easy and a smooth transaction.
So when Austin Doyle from the Crypto Playhouse, one of the leading crypto influencers on Instagram
and an expert in crypto currencies contacted me to buy a watch using Bitcoin, I asked,
�Why don't we collaborate and do a video so we can show how easy it is to make a purchase
using Bitcoin?�
>> AUSTIN: What's up Eric?
>> ERIC: Austin!
Alright man, so we have Austin here from the Crypto Playhouse.
He contacted me about this watch.
He actually was looking at stainless steel Submariner with date, ceramic bezel and he
is the leading guy in this right now, so I figured who better to explain how it easy
it is to buy with cryptocurrencies?
So Austin, tell me, �Why crypto?�
>> AUSTIN: I mean...so, my background is actually engineering.
I found Bitcoin and crypto a couple of years back and I basically just threw everything
that I was working on at the time right out the window for crypto because I just saw like
potential it has, how much it's changing the way we look at money, how we look at cataloging
information and all that.
And biggest thing, it's easy!
I mean, everyone seems to think it's just a real difficult thing, but the technology
has really come far and I mean, I can send somebody halfway across the globe 150 grand
and it's there in 30 seconds.
>> ERIC: So another question, is buying something with Bitcoin safe?
>> AUSTIN: Yeah, absolutely!
There is a lot of kind of back and forth about like, Oh well it's used for sketchy things
and this and that and the reality of it is, I mean cash is the biggest thing that's used
for that kind of stuff.
Bitcoin, if anything, is even safer because not only are you transacting on the blockchain,
which is secure, but when you're going back and forth, I mean you know who that person
is and it's confirm-able on the blockchain not just for you, but anyone else that wants
to confirm that, they can go, they can take that transaction ID, check it out, bamm!
Right there!
>> ERIC: So the process is actually very easy.
We have Betty from Accounting actually create an invoice using BitPay, send it over to you
via email, which we're gonna share with you now so you can see how easy the transaction
is.
So while we're waiting for this invoice to hit your email, explain to us a little bit
about BitPay.
I've used it before, but you obviously are more in the tech side of this.
What exactly is BitPay and how does it work?
>> AUSTIN: OK, so basically it's a little like PayPal for crypto.
There's a couple of different providers, but BitPay is like...it was really like one of
the first ones on the scene and they've really kind of cemented themselves as like a go-to
and one of the big things about it is, I mean client side it's easy to use, but for merchants,
the fees are lower than credit card fees.
I mean, like...
>> ERIC: And probably PayPal fees too.
>> AUSTIN: Yeah!
No, no, absolutely.
They're lower than PayPal.
They're lower than credit cards and the thing is you're dealing with something that like
everyone's like, �Oh, well if Bitcoin prices going up, prices going down,� but for the
merchant side, the moment it goes through, I mean you guys get cash.
>> ERIC: Absolutely!
It does already the conversion and from what I've already experienced with the transactions
I've already done, once the client gets this email, he has a 15-minute window to actually
complete the purchase.
Now, why is it that it's a 15-minute window?
>> AUSTIN: So the whole thing with the fifteen minute window like I said with the price volatility.
Obviously, there is gonna be movement, but the whole thing is basically that locks in
your spot price.
They go and they check the exchanges.
They say, �Alright, this is the price of Bitcoin right now.
This is what you're buying.� And it locks in that spot price for 15 minutes and I hear
this going.
I think the invoice is in.
>> ERIC: Alright, well let's get this going, so we could show how easy it is to buy with
Bitcoin.
>> AUSTIN: Alright...so BitPay does allow you to use a number of different wallets to
make transactions.
My personal favorite is the Bread Wallet and you can do Bitcoin and Bitcoin Cash, but Bitcoin
Cash is crap, so we're not gonna touch that.
But anyways, alright, so it's real simple.
We just hit pay.
This pops up.
You can see it's got the info for our invoice here and we're just gonna hit �Pay with
BitPay.� I've got my Bitcoin over on my Bread Wallet on my phone and I mean, seriously
guys, like check this out.
This is the easiest thing ever.
We're gonna hit Send.
Am a go Scan, scan the QR code it all automatically throws out for you right there.
I gotta enter in my pin code for this one cuz it's bigger than one Bitcoin.
And there we go!
Confirmation, money sent!
There we go.
I just back myself a Rolex with Bitcoin!
>> ERIC: So let me tell you that in the beginning, I was a little bit kind of like skeptical
when I first started taking Bitcoin for payments, but actually now it's so easy.
It just feels like any other trasanction and let me tell you that, you can't go wrong with
the Sub man.
I mean, this is something that I'm surprised you haven't bought already.
I mean, the Sub is a great choice and I think you bought the perfect watch at the perfect
price.
>> AUSTIN: Yeah man.
I mean like I've been eyeing one down for a while.
I mean, like Bitcoin is the crypto everyone knows.
I mean, everyone knows the Sub.
I mean, you gotta have the Sub in your collection.
I mean, let's be real here.
[laughter]
>> ERIC: Well man, congratulations and thank you for coming by and helping me collaborate
with this, so that I can explain how easy it is.
>> AUSTIN: Absolutely man and thank you.
It's been killer!
>> ERIC: No problem!
[music]
>> ERIC: So feel free to comment below on how you feel about buying watches with Bitcoin.
And if you liked this video, please like and share.
Also, subscribe to our channel.
My name is Eric, Watch Your Style!