Question 1

Why Crypto?

Accepted Answer

Since inflation has been a constant threat to the value stored in fiat, people often protect themselves by investing in assets that maintain their value over time. Historically, gold has been used as a hedge against inflation, as well as the kind of watches we sell here, but now crypto has become a more popular alternative over recent years. 
 
Crypto is fundamentally a deflationary asset, which is why citizens of countries with unstable fiat currencies are increasingly using it as a store of value to protect against hyperinflation and rising costs of everyday goods and services. Unlike fiat, crypto can’t be manipulated to the same extent by changing interest rates and increased money printing. Most importantly, most Crypto’s supply is limited which makes it an attractive store of value that is resistant to inflation.
 
Although inflation remained stable during the last year as the Coronavirus pandemic kept businesses grounded, it has already risen and it is expected to keep rising in the near future as spending increases and economies open up. 
 
As a result, individuals and businesses invest gold, real estate and other assets, like watches, to protect themselves from future inflation. Over the last decade, Bitcoin and other cryptocurrencies have shown that, like those assets, they too play a role during inflationary periods.

Question 2

Isn't Crypto very volatile?

Accepted Answer

Cryptocurrencies often experience sudden price movements, which for many, makes them an unattractive store of value. While a 30% drop in price over 24-48 hours is considered rare and disastrous in traditional markets like stocks, these are relatively common events in the crypto market. If you’re hesitant about crypto’s volatile nature, you can consider using stablecoins.

Question 3

What are stablecoins?

Accepted Answer

Stablecoins are the answer to the calls from early crypto investors looking for a crypto-equivalent to fiat currencies like the dollar. It needed to be something that could reliably hold value over time without volatility and allow them to easily transfer that value. For instance, a solution that lets Bitcoin investors quickly convert their Bitcoin profits to a dollar-like value and then invest that elsewhere or simply withdraw that amount to your bank account. And, thus the ‘stablecoin’ was born, to address exactly these issues.
 
Stablecoins enable investors to keep money in their digital wallets that is less volatile than Bitcoin or any other cryptocurrency, giving them one less reason to need a bank account. For a whole movement that is about a declaration of independence from banks and other centralised financial providers, stablecoins help to facilitate that.

Question 4

Why stablecoins?

Accepted Answer

Any asset used as a store of value and a hedge against inflation require a high level of stability and trust. Cryptos like Bitcoin or Ethereum, for example, don't grant that stability, but stablecoins do, while still being decentralized. 
 
Trading Forex and different fiat currencies is a popular method to combat inflation, and stablecoins offer you an even more convenient way to participate in the market. Unlike traditional currency markets, stablecoins can be purchased 1:1 with USD via wire transfer. 
 
Citizens of hyperinflationary economies often have to deal with a volatile fiat currency. Stablecoins are a great alternative as more merchants and stores are starting to accept crypto as a payment. In fact, fiat-backed stablecoins are becoming increasingly popular in unstable economic markets.
 
Stablecoins are considered to be a very safe long term source of investment. According to financial experts.

Question 5

With which cryptos can I pay?

Accepted Answer

Vintage Watch Collective is currently accepting payments for all watches through CoinGate online checkout (see last FAQ) in more than 70 cryptocurrencies.

Question 6

How can I pay with crypto?

Accepted Answer

Online purschasing using crypto is done through a normal checkout of the shopping cart.
 
Add your item to Cart and checkout as usual
Fill in the shipping address and delivery method
Choose CoinGate as the method of payment and follow the steps

If this is your first time paying through CoinGate, they might ask for a KYC verification.
 
CoinGate is one of the largest cryptocurrency payment processing platforms in the market.

If you want to learn more about CoinGate, click here.

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