Cryptocurrency has undeniably taken the financial world by storm. However, when it comes to real-world usage, digital currencies are yet to reach their full potential.
Considering the many benefits of blockchain technology, several developers are coming forth with organized efforts to tackle this issue. From tokens with unique utilities to crypto-loaded debit cards, we are witnessing the emergence of tangible applications.
BitDials is one such entity that was created to address this particular pain point. The platform allows you to use your Bitcoin or altcoins in order to pay for high-end luxury items. In return, you can expect to avoid the trouble of security and the trap of counterfeits.
In this review, I explore what BitDials is, what products it offers, and whether or not the luxury boutique is worth considering.
What is BitDials?
BitDials is the world’s first cryptocurrency-based boutique. The platform allows you to buy luxury items with cryptocurrencies. BitDials was first launched in 2016 by two partners – Anatol Capin, an established watch retailer in Germany, and André Shevà, a crypto enthusiast.
The main idea was to address the concern of safety in the world of luxury goods by combining the sector with the advantages of blockchain technology.
What can you Buy on BitDials?
The boutique currently offers several categories of luxury goods and collections – such as:
BitDials specializes in luxury watches and offers over 40 exclusive brands on its website. Prices range from Ƀ0.20 to Ƀ91,90, depending on the brand.
To list a few brands, you are looking at the likes of Breguet, Tag Heuer, Hublot, Rolex, Cartier, Christophe Claret, and more. There are also a few high-quality crypto-branded watches, such as The Blockchain Series by Chronoswiss.
You can also find exquisite jewelry on the platform offered by Tiffany, Cartier, Rueschenbeck, Pomellato, Bucherer, Stoess, and more.
If you have a taste for the most exclusive and premium spirits, BitDials has an extensive collection. You can get your hands on rare bottles such as the Remy Martin Louis XIII in der Magnumflasche, Black Tot 40-Year-Old Bottling Note, and 52-year-old Macallan 1946, all by placing requests on the site.
If you would rather choose to invest your Bitcoin into another asset class, you can also purchase Gold in its tangible form through BitDials. At the moment, they offer gold coins, as well as bullion bars of platinum, gold, and silver.
BitDials has since launched the world’s first Bitcoin-only online automobile leadership. Like the aforementioned products, ‘BitCars’ only deals with premium supercars and exclusive oldtimer classics.
You can send a request on the car you want, and the platform will connect you to a relevant dealer. Then, you can arrange to go for a test drive.
BitCars will handle the payment and take care of all the supporting paperwork for you – which can include registration as well. The delivery process will also be arranged for you.
Apart from the items listed, BitDials also offer a range of luxury accessories such as leather bags, stationery, canvas bags, and lighters.
How Does BitDials Work?
BitDials acts as a third-party between the buyer and the vendor. The items listed on the platform are sourced from the respective dealer. The platform only oversees the transaction by recording all product information and guaranteeing complete data security.
This allows BitDials to monitor the transaction and perform due diligence before adding new vendors to its site.
In addition, BitDials has a stock of exclusive watches that in some locations could be hard to procure yourself. You can ship them directly to your address or pick them up in its land-based store in Frankfurt, Germany.
What Payment Methods are Supported?
BitDials initially only supported Bitcoin, but now it has expanded to altcoins as well. Currently, the platform works with three payment processors:
- OpenNode for Bitcoin
- BitPay for Bitcoin, Bitcoin Cash (BCH), Ethereum (ETH), and Ripple (XRP)
- GloBee for Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Decred (DCR), and Monero (XMR).
Once you have selected the product you wish to buy, you will be redirected to the website of your selected payment service, where you will be able to complete the purchase.
As with almost all cryptocurrency payments, you will be liable to pay a small transaction fee in addition to the total amount of your chosen product. This fee covers the cost of verifying transactions and is determined by the payment service provider.
BitDials Customer Service
As the pioneer of cryptocurrency-based luxury services, BitDials has customer service at its forefront. The entire support team is readily available to answer any questions and give clarifications regarding any product or purchase.
Crucially, all products are authenticated and come with certification and an international manufacturer’s warranty. The platform also allows for exchanges and refunds wherever applicable. However, if you have purchased the product upon placing a request, you might not be able to avail of these orders.
Regardless, the customer care team will answer your queries within 24 hours. You can reach out to them initially through a contact form available on the website.
Why Use BitDials?
If you have a significant amount of Bitcoin tucked away in your digital wallet, the chances are you are holding it in the hope that the digital coin will continue to increase in value. With that said, it’s great to have the option of transacting in Bitcoin and other cryptocurrencies – as opposed to needing to cash out back to fiat.
Moreover, luxury goods are another category that can retain or even increase their value over time. BitDials thus allows you to tap into this marketplace as an alternative to cashing out your crypto. In other words, the platform gives you opportunities to find a hedging tool against the volatility of the crypto markets.
Advantages of BitDials
Here’s a breakdown of the main advantages of using BitDials.
- Authenticity and Transparency: By building its product based on top of blockchain technology, BitDials can verify the authenticity of an item and track its movement until its final destination. You can attain complete clarity in terms of product information, payment processes, and details of the vendor.
- Security and Privacy: The payment process uses smart contract systems, where the seller will securely transfer the ownership of the item via blockchain technology. The entire process will be recorded, thus minimizing the chances of fraud, theft, and loss.
- Fast Processing: Depending on your location and the item you purchase, you can get access to 24-hour shipping and will be able to receive your product within 1-2 days of making the purchases.
- User-Friendly: Even if you have never made a purchase online using cryptocurrency, the platform makes the process a breeze. The website is easy to navigate and has detailed information regarding the full specification and condition of the product.
BitDials Review – My Verdict
BitDials offers a glimpse into how cryptocurrencies can help transform everyday spending. After all, most cryptocurrencies possess a great framework for facilitating medium of exchange transfers.
The platform has been successful in the adoption of digital coins in a real-world scenario, by making it possible to purchase a wide range of goods with crypto-assets. If this is achievable, then we can soon expect to see the same technology extended to other markets as well.
BitDials is also planning to add more services such as real estate and experiences to its product list. All in all, the platform offers the perfect balance between convenience, usability, and customer experience.
A great option for buying high-end products online with Bitcoin. All products are verified and BitDials provide great customer service to their clients.