Newegg.com Gladly Joins Major Bitcoin Retailers

Newegg.com has announced it is accepting and actively encouraging Bitcoin payments from today.

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Newegg.com Gladly Joins Major Bitcoin Retailers

Mainstream advocators rejoice: Newegg.com has announced it is accepting and actively encouraging Bitcoin payments from today.

The US-based electronics and household merchant now displays a banner to its US customers stating “Pay with Bitcoin – shopping here just got faster,” in a move which will no doubt delight the community.

Newegg further announced its partnership with Bitpay, but did not reveal whether profits will be entirely converted to USD or another model implemented, such as that of Overstock.com which keeps a small percentage of profits as BTC.

Adopting bitcoin as a payment method is another way we’re responding to our customers’ diverse needs,” said Soren Mills, Chief Marketing Officer for Newegg North America in a press release today. “Working with BitPay to implement a bitcoin payment option at Newegg was a seamless process and our partnership gives us the capabilities we require for high-volume e-commerce.”

"Adopting bitcoin as a payment method is another way we’re responding to our customers’ diverse needs."

Following a further link on the homepage with the text “5 simple steps to pay smarter” takes users to a full explanation of how to go about paying with Bitcoin, as well as an introductory video for those hitherto unfamiliar with the currency.

“Bitcoin is a new option which gives people more power and control over their finances,” the website states, also adding that it is “extremely inexpensive to send or accept” but stopping short of stating its financial appeal over credit cards for merchants.

Newegg’s integration is carefully honed. Geared towards new users, confirmations for transactions are emailed by the company in addition to the standard notifications for the payment itself. The company in so doing follows in the footsteps of TigerDirect and Overstock to corner the market in what is becoming an increasingly broad affirmation of confidence in the digital currency.

Meanwhile, the scheme is available on Newegg.com only, as Canadian customers must presumably wait until sufficient success is achieved or the necessary legislation is dealt with following Canada’s adoption of a national Bitcoin law earlier this month.

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