Add Newegg as the latest United States electronics retailer to the list of big name merchants accepting the peer-to-peer decentralized digital currency bitcoin. The company confirmed the move in a press release Tuesday.
Newegg, one of the biggest electronics e-retailer in North America, will be partnering with BitPay, a payment service provider, to offer customers the option of paying for any of their 10.5 million items with bitcoins. The company noted that providing its patrons with this payment option gives them yet another convenient and secure method to buy stuff.
There was no mention as to whether or not Newegg will convert 100 percent of its bitcoins into U.S. dollars or maintain a percentage of their sales in bitcoins akin to Overstock.com. Also, there wasn’t a schedule given as to when Canada will have access to bitcoin on Newegg.
“Newegg’s customers are among some of the earliest bitcoin miners and are enthusiastic proponents of the crypto-currency. 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 statement. “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.”
The process is pretty simple: when finishing an order, customers click on “Bitcoin” on its list of available payment methods. Orders processed through BitPay can be completed if digital wallet software is installed, if the customer’s digital wallet is stored on a smartphone or if a client’s digital wallet is hosted on the web.
BitPay’s newest partnership with Newegg adds to its growing list of organizations, which also consists of Cloudware, MixedTees.com, Mindsci Psychiatric, Antiwar.com and Market Technologies Republic.
“Our mission is to make bitcoin every merchant’s favorite form of payment. Forward-thinking merchants like Newegg allow bitcoin enthusiasts from around the world to shop with ease,” said Tony Gallippi, BitPay’s Co-founder and Executive Chairman. “Newegg has been the most requested retailer from the bitcoin community and our collaboration will serve this pent-up demand.”
The bitcoin option officially commenced Tuesday.
