Wednesday, July 24, 2019

Newegg Expands Bitcoin Payment Support

Los Angeles-based online retailer Newegg is extending its support for Bitcoin payments, saying this morning that it wil begin accepting Bitcoin in an additional 73 countries. The company said the expansion means that Newegg customers can pay with Bitcoin across nearly all of the countries that it serves. The electronics retailer said the addition of the new countries comes thanks to an expansion of a collaboration it has with BitPay, a provider of Bitcoin payment services. Newegg has been working with BitPay since 2014. Newegg said that there are several advantages for the company for accepting Bitcoin, including avoiding chargebacks--it says it has not seen any chargebacks from Bitcoin purchases, unlike the typical chargebacks seen with credit cards--and also the ability for its to avoid the credit card fees typically assessed on credit card purchases.