Newegg Expands To 73 More Countries

It was announced on Wednesday by Newegg, the online retailer of computer hardware and other consumer electronics, that it was to accept payments in bitcoin at an additional 73 country-specific stores.

The company, based out of the USA, which was one of the first online retailers to accept cryptocurrency, began to offer payments in bitcoin in the country, five years ago this month.

It turns out that the company now accepts crypto payments in nearly all of the 80 countries in which it operates. In a statement, Anthony Chow, the president of global sales, said,

“Broadening the ability to pay with Bitcoin to the majority of our global network underscores our commitment to bring innovation to the online shopping experience, and answers customers’ growing preference for our Bitcoin payment option.”

Newegg collaborated with BitPay in 2014 to first bring bitcoin payments to its US and Canadian customers, and they are again partnering with the same company to offer the new development.

Sonny Singh, chief commercial officer at BitPay, said:

“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. 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.”

Newegg made number 173 on Forbes’ list of the largest private companies in the US in 2017, after enjoying a 2.6% in annual revenues to $2.7 billion.

It is among a growing number of retailers showing interest in cryptocurrencies as a medium of payment. Overstock.com was also an early adopter of bitcoin payments, even accepting the cryptocurrency in 2014.

More recently, Independent Grocers of Australia, a chain of independently-owned supermarkets, announced earlier this month a collaboration with bitcoin retail service provider TravelbyBit to offer customers point-of-sale bitcoin payment services.