Newegg, a large American online retailer and an early adopter of cryptocurrency since 2014, added 73 more countries to its Bitpay payment platform. Shoppers from these countries can now purchase goods for bitcoin. The company is now only blocking bitcoin payments from customers in Algeria, Ecuador, Egypt, Indonesia, Morocco, and Vietnam. This news was announced by the eCommerce giant two weeks ago.
Founded in 2001 and based in City of Industry, California, Newegg sells electronics, entertainment products, smart home systems, gaming gear etc. to more than 38 million shoppers from around the world.
“Bitcoin allows users to send and receive money just as easy as sending an email, opening up opportunities for businesses and consumers globally as a secure, low-cost transactional option for the merchants,” Sonny Singh from BitPay commented. “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.”
Besides that, BitPay allows Newegg to incentivize more clients and increase its margin on each Bitcoin transaction by avoiding credit card fees typically imposed on credit card purchases. Newegg was among the first companies to see this potential of cryptocurrency and has now expanded its Bitcoin support to nearly all of its customers around the world.
Not the least important, since the initial implementation of Bitcoin, not a single chargeback has been required for any Bitcoin transaction on Newegg.com.
We can now purchase a cup of Starbucks coffee, buy a new garment on Amazon, donate to multiple charities, buy furniture from Overstock, pay for an AT&T mobile plan, play Xbox games from Microsoft store, space travel with Virgin Galactic, and even cryogenically freeze ourselves with Alcor — all paid with cryptocurrency.
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