Last updated on May 17th, 2023 at 11:38 am
Luxury watchmaker TAG Heuer just announced that customers will be able to pay for their purchases with popular cryptocurrencies like Bitcoin, Bitcoin Cash, Dogecoin, Ethereum, Litecoin, Shiba Inu, and more, as well as five stable coins that are tied to the USD.
This comes just one week after Gucci said that it would start accepting cryptocurrencies as a form of payment. TAG Heuer has teamed up with Bitpay to give its online shoppers this extra option.
There have been a lot of conversations about cryptocurrencies because of their growing popularity, and companies will want to be a part of these conversations to stay relevant and show that they are up to date with modern trends.
TAG Heuer is in charge of leading the way now that LVMH, the biggest luxury company in the world, is planning to move into the Web3 space.
Tag Heuer, a Swiss company that makes expensive wristwatches, has said that it will start accepting bitcoin payments. On the other hand, bitcoin is only accepted by websites in the United States.
Tag Heuer, a company that makes expensive watches, is the latest to say that it will accept bitcoin payments. On the company’s e-commerce platform, you can pay with a few of the best-known cryptocurrencies.
Bitcoin (BTC), Bitcoin Cash (BCH), Dogecoin (DOGE), Ethereum (ETH), Litecoin (LTC), Shiba Inu (SHIB), Wrapped Bitcoin (WBTC), and other stable coins tied to the USD, like USDP, BUSD, DAI, USDC, and GUSD, will be accepted.
Also on the list are Shiba Inu (SHIB) and Wrapped Bitcoin (W). The number of cryptocurrencies that will be available in the end will be chosen at random.
Because of the deal with BitBay, the newest feature, the ability to accept bitcoin payments, will be easy to use.
On the platform we just talked about, a well-known bitcoin exchange is run. If you are looking to invest or trade cryptos check out Bitcoin smart.
The Tag Heuer Pilot Project will be able to handle transactions made with bitcoin.
The new goal for Tag Heuer is to adopt and use a Web3 strategy. Accepting digital currencies like bitcoin and Ethereum will be a part of this.
Tag Heuer thinks that blockchain technology and the growing interest in currencies that can’t be changed will help it make money (NFTs).
The company has also said that there is no minimum amount that must be spent when the digital asset is used as payment. Several times during the talk, this was brought up.
Since the beginning of Bitcoin trading and investment, we have been paying close attention to everything that happens in the world of cryptocurrencies.
Even though the industry was changing, we knew that TAG Heuer, which is known for its innovative designs and pioneering spirit, would soon start using a technology that could connect people from all over the world.
This technology will have a big impact not only on our field but also on a wide range of other fields.
Reports say that since the beginning of this year, other high-end brands like Gucci and Off White have started accepting digital assets as payment. Tag Heuer did something like what those stories did.
In 2022, at Watches & Wonders, Arnault, the CEO of Tag Heuer, talked about this change in his keynote speech.
He then says that NFTs and Web3 have a lot of potential and that the brand has a voice in what he calls “new technology and new asset class.”
On the other hand, it might be hard to figure out how to get reimbursed, which could cause trouble.
BitBay, which is in charge of payments, is expected to accept cryptocurrency payments, which it would then turn into fiat currency.
BitMarket will change the customer’s fiat currency into the right cryptocurrency based on the current market rate.
If the customer asks for a refund, BitMarket will give them the converted amount.
Due to how volatile the market is, market rates are also frozen and kept at the same level for 15 minutes until the buying procedure begins.
Now, cryptocurrency transactions can be handled by TAG Heuer.
The Swiss company that makes high-end watches just announced that they will start accepting bitcoin for online sales.