Newegg will now start accepting Bitcoins as a method of payment

Popular US based based online retail website for electronic and DIY PC components Newegg has now started accepting the popular virtual currency via Bitpay.

Published Wed, Jul 2 2014 1:18 AM CDT   |   Updated Tue, Nov 3 2020 12:15 PM CST

Newegg made an announcement recently that the online retail site will now start accepting Bitcoins as a method of payment from now on. The company also started a new hashtag '#neweggbitcoin' to gather peoples thoughts and rants about its new payment method.

Newegg will now start accepting Bitcoins as a method of payment 1 | TweakTown.com
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One can select Bitcoin as a method of payment under its step 2 'billing' options while checking out. Newegg is using 'Bitpay' to process Bitcoin payments as its proven itself to be an industry-leading reliable and scalable option to process such transaction. A buyer can also use the digital wallet stored in their smartphone as it will use the QR code stored in the phone or the link of the digital wallet to proceed with the payment.

Soren Mills, Chief Marketing Officer for Newegg North America said,"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". He continued,"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."

Newegg will now start accepting Bitcoins as a method of payment 2 | TweakTown.com

As more popular online retail websites starts using Bitcoin as an alternate form of payment, virtual currency gains more credibility and value as an alternate form of currency.

On the other hand, Bitcoin is also known to be a choice of payment for illegal drugs. It wasn't too long ago when the FBI busted Silk Road where it was found that the popular virtual currency was used to complete the transaction. Mt.Gox was also considered as a popular virtual currency exchange, until it collapsed and later filed for bankruptcy.

NEWS SOURCE:businesswire.com

After being a long time PC enthusiast and a former contributor for many Indian based PC and Tech forums, Roshan now joins TweakTown covering tech news and also any developments from India. Like many enthusiasts, with years of being involved in many Indian tech forums and running his own tech site, he's commonly referred by his forum nickname 'The Sorcerer' by many old and new fellow PC enthusiasts, followed by few companies from time to time. He's also the winner of the TweakTown's Computex 2012 Taipei trip. If any free time is left, Roshan prefers to play FPS games.

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