Swiss luxury watchmaker accepts global cryptocurrency payments |

Swiss luxury watchmaker accepts global cryptocurrency payments

Peter Terlato 11 April 2018 NEWS

The company claims it is the first watchmaker to allow bitcoin and Bitcoin Cash payments globally.

Swiss watchmaker Manufacture Contemporaine du Temps (MCT) launched online sales this week, offering customers worldwide the freedom to purchase timepieces either via wire transfer or using cryptocurrencies.

The European company designs and assembles around 100-150 timepieces each year. All are limited edition and high-end, previously only available in boutique stores in over 40 countries, according to the luxury brand.

Partnering with cryptocurrency and blockchain payments enterprise BitPay, MCT claims it is the first major watchmaker to officially accept online bitcoin (BTC) and Bitcoin Cash (BCH) payments.

“Now MCT can receive payments in any amount, from anywhere in the world, from any computer or mobile device opening up new markets and opportunities,” MCT Watches said in a release published on its website.

MCT Watches comprise sophisticated mechanisms with over 600 components. Prices range from approximately US$49,500 to US$200,000. The company is offering free global shipment deliveries on all purchases.

The watchmaker is a member of the Crypto Valley Association, an independent, government-supported organization established to utilize Swiss tech policies to build a blockchain and cryptographic ecosystem. The association supports and connects startups and established enterprises through policy recommendations, projects, initiating and enabling research, and organizing conferences, hackathons, and other industry events.

The cryptocurrency craze has caught fire in the last few months, encouraging commercial adoption.

American internet retailer Overstock has revealed the prototype for its tZERO trading platform, designed to support its forthcoming security token that is currently being sold through an initial coin offering (ICO).

Property startup Slice is offering investors access to a share of $2 million in equity capital that will be used to construct a real estate development to be located in Chelsea, Manhattan, New York. However, there’s a big difference between this and other commercial capital raising strategies… investors are buying cryptocurrency.

You can learn all about different exchanges, understand exactly how to buy and sell cryptocurrencies, calculate your taxes, discover digital wallets to hold assets and explore a list of all the alternative coins on the market.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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Picture: Manufacture Contemporaine du Temps (MCT)

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