Question 1

Why these cryptocurrencies?

Accepted Answer

Bitcoin (BTC) and Ethereum (ETH) are the cryptos with larger market cap. These two have already been around for quite a long time and they are the most circulated and used cryptocurrencies. They have also proven a solid uprise trend in value over their lifetime.    Tether (USDT): Being the largest stablecoin, Tether initially launched in 2014 as RealCoin. With one Tether said to always be worth one US Dollar, its supply is only limited by claimed dollar reserves. The basic promise that every Tether is backed by dollar reserves in some form seems to have satisfied enough people to make it indispensable for crypto trade. In fact, it is so widely used that Tether changes more hands in the course of a single day, than its entire market capitalization – marking it as a trade focused currency.   USD Coin (USDC): USDC supply is limited by its dollar reserves, and was launched in 2018. Adding to confidence, its founding member, the Coinbase crypto exchange claims to have achieved regulatory compliance. The USD Coin is accepted by most large exchanges, besides increasing usage in decentralized finance (DeFi), DApps and gaming. USDC is the second largest stablecoin.   Binance USD (BUSD): BUSD was launched in 2019, with supply limited by dollar reserves that are audited monthly. One of the largest crypto exchanges, Binance, is a founding member. That means users converting fiat/crypto to BUSD get to use exchange services at zero fees, in addition to DeFi services that can earn extra. BUSD is the third largest stablecoin.   Dai (DAI): The Dai token is supply limited by the collateral stored in its vaults. However, that collateral is not US dollars but other cryptocurrencies, which led to a balancing act in early 2019. It can be used to trade, but is more prevalent on DeFi protocol services. DAI was first launched in 2017, and added financial services since then. The autonomous MakerDAO governs DAI with issuance of Dai tokens being decentralised – any user is permitted to mint DAI tokens by depositing their Ether tokens as collateral. DAI is the fourth largest stablecoin.

Question 2

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 3

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 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

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 6

Online payments

Accepted Answer

Online purschasing using crypto is done through a normalcheckout of the shopping cart.   Add your item to Cart and checkoutas usual Fill in the shipping address and delivery method Choose Pinwheel as the method of payment     4. Fill in the billing address   5. Place order (you will be directed to Pinwheel to complete the process)     6. Click Pay (you will be directed to choose the cryptocurrency with which you want to pay)        7. Choose the crypto you prefer and click Pay     If this is your first time paying through Pinwheel, they will ask for an ID verification for security reasons.     8. Write down your full name as shown on your Passport / ID / Driving License   9. Upload a front picture of your Passport / ID / Driving License   You will receive a confirmation email within 24 hours (it usually takes no more than 4-5 hours). You will then be able to come back and complete your purchase.   If you wish to send us an email while your verification process is ongoing, we will happily put the watch on hold for you.   Pinwheel is the safest payment platform for cryptocurrencies in the market. If you want to learn more about Pinwheel, click here. If you want to read reviews about Pinwheel and other crypto payment platforms, click here.

Question 7

How can I purchase?

Accepted Answer

There are two ways you can purschase with crypto at Vintage Watch Collective: Online, and Offline.

Question 8

With which cryptos can I pay?

Accepted Answer

Vintage Watch Collective is currently accepting payments for all watches through Pinwheel online checkout (see last FAQ) in the following cryptocurrencies:   Tether (USDT) Bitcoin (BTC) Ethereum (ETH) For a more direct payment, we are accepting the following stablecoins in the Binance Smart Chain (BEP20): Tether (USDT) USD Coin (USDC) Binance USD (BUSD) Dai (DAI) For payments in other cryptocurrencies, please contact us.

Question 9

Offline payments

Accepted Answer

Vintage Watch Collective accepts offline payments only for certain watches. These will show in the Shop with Crypto Offline page.   For a more direct, offline process, follow the next steps:   Log in into your Exchange or DApp (Binance, Coinbase, KuCoin, Metamask, etc.) Go to Withdraw/Send crypto Set the total amount in USDT, USDC, BUSD or DAI. Remember that 1 USD = 1 USDT/USDC/BUSD/DAI. Paste the recipient wallet address to where you want to send the crypto. Make sure you have chosen the correct network. Double-check everything is recommended  Click Withdraw/Send ​​​​​​​Wait blockchain confirmation (it might take a few minutes) ​​​​​​​ The Buy Offline with Crypto button in our Shop will guide you through and provide the information needed to complete the process.   Bellow is a video that shows how to send USDT from Binance (Exchange) to Metamask (DApp) using the Binance Smart Chain (BEP20):

Question 10

SPECS

Accepted Answer

Reference: 1665 Serial: 5714xxx Year: 1978 Case: All Stainless Steel Dimensions: 40mm excluding original crown Function: Diver Caliber: Caliber 1570 Automatic Strap: 20mm Rolex 93150 stainless steel bracelet with 585 end links and clasp code J6 Crystal: Acrylic Box/Papers: No/No

Question 11

CONDITION

Accepted Answer

According to serial number range, this example is a MK 2 ‘Rail’, however, it presents and old (1980s) tritium service dial. The lume plots are perfect, with a kind of waffle stamp and an even pumpkin color. The black matte dial remains in top condition too with no stains, spots, or scratches. The hands show a lovely matching patina too. The 80s service bezel insert remains in very nice shape. The case remains very thick and has been previously polished.   The T39 superdomed crystal has no scratches and magnifies the maxi lume plots giving it a distinctive look.   It comes suited on a 20mm Rolex 93150 stainless steel bracelet with 585 end links and clasp code J6.

Question 12

HISTORY

Accepted Answer

The Double Red Sea Dweller eventually production stopped around the 5.2 million serial and since then a new watch that retained the model number 1665 was born. The new watch had the same case as the 1665 but the dial was now devoid of the red paint and new fonts were used and the case back was also different.

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