Newegg Accepts Bitcoin Payments From Canadian Customers
The influential retailer of PC hardware in North America, Newegg has announced that it accepts Bitcoin as a payment option from Canada- based customers.
Newegg accepts Bitcoin from customers based in Canada
The US-based retailer supports Bitcoin as a payment resource on America since August 2014. Meanwhile, the crypto industry has grown rapidly, becoming fashionable firms that accept real-time payments in crypto coins. Even if the payments made in Bitcoin are not very high, the company is motivated to expand on the Canadian market in order to adapt to the ongoing market changes.
The Chief Executive Officer of Newegg, Danny Lee stated that “Since that time the value of bitcoin has skyrocketed and customers holding bitcoin have considerably more purchasing power. We believe the time is right to broaden our acceptance of bitcoin to our customers in Canada.”
Newegg uses BitPay’s API
The company has a huge number of clients, but most of the 36 million customers are North American residents. Newegg’s partner, who assures Bitcoin payments is BitPay. It has been supported the company at the time of launching this service and will continue to do this for payments to come from Canada.
To manage and organize bills, Newegg uses BitPay‘s Application Programming Interface (API). The interface also offers the ability to collect real-time rates and issue refunds.
The Chief Executive Officer and co-founder of BitPay, Stephen Pair stated that “Newegg was an early e-commerce adopter of bitcoin, and that leap of faith the company took in 2014 put Newegg on the map as a bitcoin-friendly place for tech enthusiasts to shop. We’re seeing a lot of traction in Canada, and we’re happy to see Newegg extend its bitcoin payment option north of the border.”
BitPay is going to process around $ 4 billion in 2018. This week, the company has made public a new partnership with Bithumb Exchange in order to support issuing bills in Bitcoin in South Korea.
The California-based Newegg is part of the Chinese group Hangzhou Liaison Interactive Information Technology Co. Ltd. In the beginning of 2018, the company faced the failure to collect sales tax during the last 3 years. Facing with the situation to choose between the option to collect this tax in the future or to disclosure information about each client to the US authorities, Newegg chose the last option.
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