Tech-Focused Online Retailer Newegg Now Offers Bitcoin Payment Option to Its Global Customers  

Retailers are reluctant to accept Bitcoin payments, but there are a few notable exceptions. Case in point: Newegg       

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Newegg, a US-based online retailer that focuses on tech merchandise, will start accepting Bitcoin payments in nearly all supported countries, the company’s press release states. Prior to that, purchasing goods with crypto was limited to North America.  

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A newfangled feature

Back in 2014, Newegg inked a partnership with BitPay to offer Bitcoin payments to its customers in the US and Canada. Now, five years later, the company with an annual revenue of roughly $2.65 bln wants to take this feature on a global level.

According to Newegg’s Anthony Chow, this ‘underscores’ their commitment to bring some innovations to the online retail niche.

The press release states that the crypto initiative turned out to be quite a success. There was not a single chargeback for any BTC transaction that was conducted on Newegg’s website.    

Streamlining innovations

It is worth noting that Newegg was one of the first major retailers to embrace crypto back after testing the waters for quite a while.

Bitcoin was clearly a perfect fit for the company given the ‘early adopter’ mentality of its target audience.

Newegg was among the first companies to see this opportunity and has continued to expand its Bitcoin acceptance to nearly all of its customers around the world,” BitPay CCO Sonny Singh claims.

TigerDirect, their major competitor, hopping on the crypto train six months earlier also served as an impetus for adding Bitcoin as means of payment.

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Alex Dovbnya

Alex covers all things crypto — from major projects, which are fighting tooth and nail to gain the upper hand in the burgeoning industry, to the latest regulatory trends around the world. He’s a firm believer that Blockchain has the potential to reshape pretty much every business out there, and cryptocurrencies are only a stepping stone to the upcoming decentralized revolution.